Ethereum is an extremely popular platform for developing decentralized apps. It uses Ether, one of the top cryptocurrencies around, as its currency. But getting your hands on some Ether can get a bit confusing if you’re just starting out, to say the least, Hi, I’m Nate Martin and were going to go over how to buy Ether in today’s 2-minute tutorial. Buying Ether can be broken down into 3 simple steps: Get a wallet, Locate your Ethereum address and Find an exchange.
Depending on the number of coins you’re planning to buy, you can choose between either a hardware wallet or a software wallet. If you’re buying a small amount of crypto, then a free software wallet that can be downloaded to your mobile phone or computer will do.
Exodus is a great software wallet that is easy to use for beginners. If, on the other hand, you’re planning on accumulating larger amounts, it’s safer to store it on a dedicated device known as a hardware wallet. Our recommendation for a hardware wallet would be the Ledger Nano X, a reputable wallet that can store multiple cryptocurrencies alongside Ether.
Once you’ve set up your wallet, make sure to find your Ethereum address, which will be used whenever you want to send Ether to your wallet. It’s a long string of letters and numbers that starts with 0x.
Finally, its time to find a place to buy Ether. We recommend you buy your Ether on an online exchange and not from an individual. Exchanges can be divided into two categories – Brokers and trading platforms. Brokers sell you cryptocurrency directly through a fast and easy process but with higher fees.
They are extremely suitable for beginners. However, if you’re an experienced user, you can use a trading platform, which connects you with sellers anonymously, allows for more trading options and has lower fees.
We’ve listed some reputable exchanges that sell Ether in the description below this article. Keep in mind that while some exchanges will store coins for you on their site, you’ll want to make sure to withdraw them to your own wallet by sending them to your personal Ethereum address.