Ever since Bitcoin’s creation, people around the world have developed curiosity about how cryptocurrency works and how to get their hands on some.
This curiosity only continued increasing as more coins entered the market. One cryptocurrency that garners a lot of attention and amassed a large community of supporters is Ethereum. Ethereum is the second-largest crypto, and it made a name for itself largely due to its innovative platform.
For starters, many in the industry regard Ethereum as the next big crypto platform and the successor to Bitcoin. Users prefer Ethereum to other platforms as it functions on a public blockchain and offers smart contracts. Though Ethereum has yet to surpass Bitcoin in value, it still holds its own place and lures a lot of investors who want a piece of the Ethereum action. Those who want to participate in thisboom have to buy Ethereum, which isn’t as straightforward as you may think.
However, there are tools available that simplify the crypto-buying process. Cryptocurrency exchanges like CEX.IO make the process of buying Ethereum, or Ether, simple, safe, and fast. But what is CEX.IO?
What Is CEX.IO?
CEX.IO is among the most trusted exchanges in the business. Not only can you buy Ether on the exchange, but you can also buy other cryptocurrencies. The exchange itself is headquartered in the United Kingdom and supplies crypto services to much of the world. Strong points in favor of the exchange include:
- Various payment options
- advanced trading opportunities
Benefits of Using Exchanges Like CEX.IO
People have used cryptocurrency exchanges for a while now because they’re simple, fast, and secure. In terms of purchasing Ethereum, exchanges are currently the easiest way to get a hold of the coin. CEX.IO is one of the most used exchanges that cater for the needs of both beginner investors and seasoned traders.
The advantages of CEX.IO are numerous. However, the killer feature that makes the exchange unique is its two-fold nature. Firstly, CEX.IO acts as a broker that allows users to perform cryptocurrency purchases in a few clicks. Secondly, it is a fully functional platform for professional traders that offers a highly liquid market for the most popular cryptocurrency pairs.
Additionally, the exchange offers a mobile app for cross-platform trading and accepts a wide assortment of payment methods – with credit cards and bank transfers among them.
The Buying Process
Now that you know what forms of payment you can use and which exchange to buy your Ether on, let’s take a look at the buying process. When it comes to buying Ether, you can do so in a few simple clicks of your mouse. The process is simple and straightforward, and it requires little to no technological skills. Follow the steps below:
- Verification:If you use the CEX.IO exchange, you will want to go to the exchange’s website and register an account before accessing the platform. The registration process is simple. It only requires some contact information, a selfie, and a photo of your ID and credit card. Once complete, the exchange will verify your credit card information. After verification, you will be able to access the exchange to make purchases. Other exchanges have a similar verification process.
- Buying Ether: Once you have a verified account, you can make purchases by depositing fiat currency into the exchange. To do this, you simply go to the Finance section of the exchange website and click on the “Deposit” button. From there, you can proceed to the Buy/Sell or Trade section for buying Ether. The process of placing a buy order will vary depending on the section you use, but in general, all you need is define the amount you want to purchase and see your order being finalized. If you ever hit any snags during the process, the CEX.IO customer service team is extremely helpful.
Overall, the buying process on the CEX.IO exchange is very user-friendly and simple. Additionally, because the exchange complies with AML regulationsand safety standards, it is reliable and trustworthy. CEX.IO even uses encryption algorithms as an added layer of security to keep transactions safe.
Also, the CEX.IO exchange makes it easy for you to withdraw funds at any time with any appropriate method and offers access to a 2FA-enabledonline wallet. While it’s not a requirement for you to use this wallet, it’s a nice feature to have.
Other Methods of Buying Ethereum
While cryptocurrency exchanges like CEX.IO are the quickest method of buying Ethereum, they are not the only option. You can also visit a peer-to-peer exchange, such as LocalEthereum, which connects those who want to buy Ether with those who wish to sell it. This website is available in many countries around the world and offers a wide range of payment methods.
However, keep in mind that some transactions on peer-to-peer exchanges can take longer than those on centralized cryptocurrency exchanges. Moreover, always read reviews on the merchants you are willing to transact with to avoid scams.
There is no reason to put off joining the Ethereum community by buying Ether. With secure and safe crypto exchanges to make purchases on, you can get a slice of the pie in no time.
Still, before going in for any cryptocurrency investment, make sure you have done your best to carry out a comprehensive research on possible risks. And never entrust your money to the exchange service provider that has unsavoury reputation.