The second-most used cryptocurrency is Ethereum (ETH). There are so many options available on the internet if you ever decide to buy one. Coinbase, one of the most reputable exchanges, makes buying ETH simple, quick, and secure. Here are the steps for purchasing Ethereum.
1. Download the Coinbase app from Google Play or IOS Appstore
Whether you are on an iPhone or an Android tablet, there is an app on each device for Coinbase and it’s very easy to get.
2. Sign up for a Coinbase account.
There’s a simple sign up form that you need to fill out that will ask for your email, phone number and name. You will also need to complete the KYC first before purchasing your first cryptocurrency.
Tap the button below to get your 10 USD worth of cryptocurrency for free!
3. Go to “Profile and Settings” and add a Payment method.
Payment methods may vary depending on your country. You can use a bank account, Paypal, Gift card, debit card, or do a wire transfer.
4. Search For ETH
Once you’ve added your payment method, go to “Trade” and search for “ETH” in the search box.
5. Select ETH
Select the 1st ETH from the list, press the “Trade” button, and then Buy ETH with cash. Your cash will come directly from the Payment method you linked earlier.
6. Select An Amount
Type in the amount of Ethereum that you would like to buy. Then tap “Preview buy” to see the details of the purchase you are about to make.
7. Tap Buy now.
You will then click “Buy Now” to complete the purchase and acquire your Ethereum. It’s that simple! You’ll want to take note that Coinbase deducts a small fee for about 3% of your purchase
8. You’ve Now Bought ETH!
You will then click “Buy Now” to complete the purchase and acquire your Ethereum. It’s that simple! You’ll want to take note that Coinbase deducts a small fee for about 3% of your purchaseThen a prompt will appear saying that you have completed your purchase and have bought an X amount of ETH
9. Enjoy Your ETH
After you complete your purchase, you will go to the Assets page to view your Ethereum balance.
Do you still have more questions or need clarification? You can refer to the FAQs below.
Is it safe to buy Ethereum on Coinbase
Purchasing, selling, and storing ETH is made easy and secure by Coinbase.
Can I buy Ethereum with a credit card?
You can buy ETH with a credit card, Paypal, Apple Pay, Google Pay, etc. However, remember that payment methods may vary depending on your location.
How much does it cost to buy Ethereum on Coinbase?
Margin, spread fees, or Coinbase Fees are broken down into the following.
Margin or Spread Fees: According to Coinbase, These fees are service charges that can go as high as 2.00%, which is also added to Coinbase Pro’s exchange rate. Coinbase Pro is another entity owned by Coinbase that processes all transactions.
Coinbase Fee: Because there are so many variables at play, the Coinbase Fee is the one that frequently causes confusion. Depending on the region, the goods, and the chosen payment method, the user will either pay a fixed fee or a fluctuating percentage of the sale.
In detail, here are the flat fees that are being charged by Coinbase:
What is the cheapest way to buy ETH?
For a reasonable price, you may purchase Ethereum (ETH) through Coinbase and in more than 100 different countries. Depending on your payment method (credit cards are more expensive than wire transfers), order amount, and market volatility, you can purchase ETH via Coinbase for a variable cost.
Does Coinbase charge to cash out?
There is an additional 1% fee when you convert and withdraw your cryptocurrency as cash on top of the standard network fees. To complete your transaction, you must pay a network fee to the decentralized cryptocurrency network.
How long does it take to buy Ethereum on Coinbase?
The speed of your purchase may vary depending on where you are in the part of the world. The transfer can take 3-5 business days if you’re from the US. Your cryptocurrency will appear in your account as soon as Coinbase confirms that they have received the payment, and also the transaction should be marked as completed on the History page.
For clarification on “Business days,” take note that it means Monday-Friday, working days from 9 AM to PM. Any day other than the days mentioned is not considered a business day (Public regular holidays and Weekends). The ACH transfer is not initiated when you place an order in the evening; it is started the following working day. Considering all of these criteria, the anticipated completion date of your order will be displayed in your transaction information.
ACH transfers can be completed by the close of business or 11:59 PM PT. Since Coinbase is located in San Francisco
All buys and sells happen instantly since your local currency is kept on Coinbase.
Purchases made with credit or debit cards are immediately available to Canadian customers.
Deposits made by Singapore customers through our payment provider only take a few minutes to complete.
For more details about specific payment or transaction policies in your location, you may check them here.
Is Ethereum still a good investment?
Ethereum is a popular altcoin, especially as a utility for other crypto projects. As per many investors and crypto enthusiasts, it is not just your average altcoin. It might have a rough start during the first half of the year, but many experts say that it can go back to its previous state or go beyond 4,000 dollars in the year 2022.
Also, remember that before investing your money in cryptocurrency, you must understand how it works and the utility of the coin you’re investing in. Ethereum is the second-most used cryptocurrency. The first one is Bitcoin.
This blockchain network enables developers to create decentralized applications, which we call “DApps” for short. You must purchase ETH (the token associated with Ethereum) to get into that network.
Since you have decided to start investing in Ethereum, you cannot just buy it in any bank or online brokerage. You’ll have to use a cryptocurrency trading platform or exchange. Also, take into consideration that different platforms charge different fees. They also impose additional security measures. Therefore, it’s advisable to do some research before you buy or invest in one.