Ethereum, as well as Bitcoin, is a Blockchain-based cryptocurrency. This means it is decentralized and fully functioning digital cash. You can obtain it primarily on exchanges and broker platforms. Ether is number second after BTC in terms of its value. The rate is highly flexible and may change hourly. However, it has a strong tendency to grow.
Ireland is a good place to start working with altcoins, as the government has not issued any specific regulations concerning virtual money. On the other hand, the cryptos have been equalized to conventional currencies. For you, it means you are to pay taxes while gaining profits. In this article, we will describe where and how to obtain ETH in detail.
First – Get Ether Wallet
Generally, there are two wallet types:
- Hardware. It is offline storage. Basically, this device may look like a flash drive. It stores the private keys. You connect it to your PC and perform transactions with it. So, this is the most secure coin storage, as it does not have the access to the Internet. Thus, it cannot be hacked.
- Software purse. This one may be online, and there are several websites where you can create such an account. Another one is a downloadable application for desktop and mobile platforms. These are less secure because some malware can break your computer system, or the web company may turn out to be a bankrupt or scam.
The best way is to possess both online and offline Ether stockpiles.
Second – Purchase Ethereum: Best Options
You can obtain Ether by several means. The easiest way to buy ETH is to go to cryptocurrency exchange. You can obtain the coins with fiat money as well as other altcoins. On the whole, you are able to use the common payment options such as credit/debit cards, electronic wallets, and bank transfers. The companies charge some fees that depend on the banking options you choose.
Trading with ETH
The ETH rate is unstable, so there is a space for price speculations and trading. The exchanges give you the chance to sell and buy the digital cash at the beneficial rate. You can wait for the value to fall and buy the coins. Then wait for the increase and sell them.
This may be complicated as you need to analyze the market, keep an eye on the currency fluctuation and be intuitive. It is a gamble to some extent. Normally, the websites let you take away the purchased Ether. However, some platforms allow redeeming the $/€. You can obtain the crypto following these steps:
- Create an account
- Link your payment option
- Find the payment section
- Enter the amount you want to acquire
- Press “Buy” button
Well done, you will see the desirable coins on your balance in a few minutes. Also, you will be charged with 1.5-4%. This is the average commission; it may be higher – up to 11%.
Buy ETH Credit & Debit Cards
Use your credit or debit card to obtain Ether. You can use VISA, MasterCard, Maestro. However, not all the exchanges accept this option. Some of them support bank transfers or only cryptocurrencies. The operators usually present the payment options on their front page. You will face withdrawing limits per day or month. It depends on the website, but the average limitations are not so high.
Most exchanges accept bank transfers. They have both advantages and downsides. The most annoying thing is the transaction time. You will have to wait for around 3 days to see something on your balance. And, also, there are regional restrictions. Hopefully, it is okay with Ireland. Nevertheless, you can withdraw a lot more. You can use this method either on exchanges or P2P platforms. The last ones are risky and require more attention.
Exchanges, brokers, and P2P platforms also accept electronic wallets such as PayPal, Skrill, and Neteller. The cloud purses allow ETH seekers to make purchases from all over the world.
Moreover, the payments complete in minutes. And, also, you can expect a big buying and withdrawing limits. However, the commission can reach 10% sometimes.
Another way is to buy Ethereum with other altcoins. The exchanges accept Bitcoin, Litecoin, Dash, etc. In this case, you transfer the coins from one wallet address to another. The fees will not bother you, as they are significantly lower. The payments are instant. Moreover, there is less private info required. Note that different platforms accept different digital currencies. So, be attentive while choosing the website.
Third – Withdraw Ethers Back to Your Wallet
It is important to think of security while obtaining ETH on the exchanges. Once you got the coins, transfer the biggest part to your wallet. It is even better to send them to the hardware storage. The website is not a fortress – it may not load or be hacked. So, keep your funds safe. But, it will be more convenient to leave the rest in your balance. Save it for further trading. This will save your time. And if everything is okay, there is no need to search for another operator.