How to deposit with Ethereum? Cryptocurrencies are increasingly known, sought and used even as bitcoin football betting. The more you hear about them, the more curiosity they makeup and the number of people wanting to use them increases.
However, the virtual world may seem too abstract or unattainable. Many people have the will and conditions to invest but fear and lack of knowledge prevent them from taking the first step.
In this post, we will focus on how to buy Ethereum (ETH) and what alternatives you will find when doing so. Let’s start with a brief explanation of what it is:
What is Ethereum?How to deposit with Ethereum?
Ethereum is a public, open-source and decentralized blockchain that offers full smart contract functionality. It focuses on executing the programming code of any decentralized application (dApp).
This blockchain project was proposed in late 2013 by its creator VitalikButerin at the age of 19. His initial idea was that the platform could be used to store and run computer programs in an international network of distributed nodes.
And thus began one of the most important blockchain projects to date. A unique platform that, by itself, allows the development of thousands of applications.
In addition to simple dApps, Ethereum allows decentralized autonomous organizations (DAOs) to build on its blockchain. What, once again, makes it interesting for a larger audience.
The platform works thanks to the use of your cryptocurrency (ETH). This uses as a payment method for a large number of shares within the platform.
How to deposit with Ethereum?
Introduction to eToro:
This is one of the trading platforms that we usually recommend. It is a social investment platform based in Israel with more than 10 million registered users. They recently launched eToroX, a fully regulated cryptocurrency exchange that since its launch includes Ethereum among 5 other important cryptocurrencies. The platform also has an application that allows users to store their digital assets on their smartphones.
Register on the platform:
The first step to being able to trade on eToro or any other trading platform is to have an account on it, for which you will need to register.
Then we will see another screen in which we will see 3 alternatives as a payment method: Credit Card, Crypto Wallet, and Fiat Wallet.
Credit Card: this is the option that appears by default. If we decide to select this payment method, we must click on “add credit or debit card”.
Then, it will seem like a screen that we must complete with the data of the card that we are going to use.
As reported, to verify our card we will be charged $ 0.10. They also notify us that our bank details will be safe.
Learn how to deposit with Ethereum?
for this option, we should have some cryptocurrency in our wallet. A little below explained how to deposit cryptocurrencies on Crypto.com.
when selecting this option we must provide a bank account so that the application can proceed to withdraw the money.
Once you have chosen one of the 3 options and performed the steps to follow, you just have to select the amount of Ethereum that we want to buy and accept the operation.
Deposit cryptocurrencies at Crypto.com:
If we already have a first contact with the cryptocurrencies, we have one of them. We can exchange it for Ethereum in Crypto.com the procedure will be as follows:
On the main screen, we will select “deposit” (right side) instead of “buy” (left). Again a list of cryptocurrencies will appear. We must choose the one we already have and we want to transfer to the application.
If we wish to transfer bitcoins, for example, when selecting an image similar to the following one will appear:
With the QR code or the address provided, we can transfer the bitcoins to the app and then purchase ETH.
Remember that thanks to the Visa cards, that this platform puts at our disposal you can use your cryptocurrencies during your daily activities.
Wallets for Ethereum:
It is important to know the different options for the storage of existing cryptocurrencies, as well as their pros and cons. It is always recommended to keep them offline, the more isolated from the Internet we have them, the safer they will be.
How to deposit with Ethereum?
On the one hand, a hardware wallet is a highly recommended option for any cryptocurrency. These devices are one of the safest ways to store them since both keys and cryptocurrencies remain in our custody. Some hardware wallet options are Ledger Nano S or TREZOR.
Paper wallets are another option. It is nothing more than a very important piece of paper that includes both the private and public keys. This option is also very safe. However, we must be very careful and keep it well kept so that no unwanted person has access to it and that we can find it when we need it.
Another option that cryptocurrency projects usually offer us is the official wallet itself, with which users generally have rewards for it at certain times. Ethereum puts at our disposal MyEtherWallet.
An open-source platform that makes it possible for us to generate wallets and to interact with smart contracts, among many other things. It is a free interface that facilitates interaction with the Ethereum blockchain. Through it, we can create a new wallet or access it.
The platform supports other cryptocurrencies and tokens in addition to ETH. MyEtherWallet also has a complementary application that turns our smartphone into secure wallet hardware.