The Ethereum cryptocurrency rate has grown by almost 750% over the year, of which 113% in December 2020 and January 2021. In addition, cryptocurrency continues to rank second in terms of market capitalization. All this suggests that buying and selling ethereum is a very relevant topic today. The editorial staff of Btcnewsweb.com considered how this can be done and how promising this cryptocurrency is in 2021.
- 1 Should you buy ETH? Expert forecasts
- 2 In what ways can you buy or sell Ethereum
- 3 1. Ethereum exchange on cryptocurrency exchanges
- 4 2. Buying or selling Ethereum through exchangers
- 5 3. Trading ether through p2p platforms
- 6 4. Selling and buying ethereum through payment systems
- 7 5. Selling and buying through Ethereum wallets
- 8 6. Cryptocurrency ATMs supporting Ether (ETH) operations
- 9 Where to store Ethereum after purchase
- 10 Conclusion
Should you buy ETH? Expert forecasts
The main Ethereum-related event so far is the launch of the long-awaited Ethereum 2.0 network. Now the project is at the zero phase: a deposit contract has been launched, where community members are contributing funds. Upon reaching certain amounts, it will be possible to start a further process. The shift towards ETH 2.0 is one of the main factors contributing to the growth of the coin’s rate, since such a transition indicates a great future for the project. Obviously, a high level of trust in Ethereum 2.0 has been established in the community, since in less than two months the mentioned deposit contract has already collected 2.83 million ETH.
In addition, the growing DeFi sector is also having an impact. Currently, more than $ 25 billion is locked in decentralized protocols, and although sometimes this amount drops a little, in the end it still continues to grow. And since the vast majority of protocols operate on the ether blockchain, this cannot but affect the ETH rate.
Most experts and analysts expect further positive developments. Bitcoin is currently in a phase of low volatility, which usually signals the start of the “altcoin season”. For example, the Fundstrat Global Advisors team expects the rate to soar to $ 10,500 in the near future, and also notes that Ethereum’s risk / reward ratio is now the best.
According to the latest analytics from January 26, Ethereum is considered a more profitable investment at the moment than BTC. On February 8, 2021, Ethereum futures are scheduled to launch on the Chicago Mercantile Exchange (CME). Experts also recommend focusing more on the dynamics of the ETH / BTC pair than cryptocurrencies with fiat money – this gives a more reliable picture.
Ethereum forecast for February 2021 from Currency.com exchange analysts:
In what ways can you buy or sell Ethereum
Let’s take a look at the common ways to buy and sell Ethereum. With all the choices in front of your eyes, you can easily find the option that best suits.
1. Ethereum exchange on cryptocurrency exchanges
Examples of exchanges with Ether: Binance, Currency.com, Bybit, EXMO, Cex.io, Payeer Exchange, FTX, Huobi Global.
Modern cryptocurrency exchanges are distinguished by a high degree of reliability and functionality. They are no longer just a place to buy / sell ether, and provide a wide range of options for managing funds or generating passive income. Sites are decentralized (for example, Uniswap, Sushiswap) or centralized, from which their principle of operation is somewhat different (types of exchanges). In the first case, each user stores his funds directly on his personal wallet, in the second case it is the prerogative of the exchange.
How to work with a cryptocurrency exchange when exchanging cryptocurrencies:
If the site you have chosen requires confirmation of your identity, then go through it – verification takes from several hours to a couple of days and opens access to the full functionality, including increased trading limits or operations with fiat money. Then fund your account with the required currency and make an exchange for Ethereum (or vice versa, from Ethereum for another asset).
2. Buying or selling Ethereum through exchangers
To choose an exchange service with the most favorable rate at the moment, you can use the monitoring help (for example, BestChange or Kurs Expert) or visit the page with online exchangers on our website. Monitoring aggregates up-to-date information about different exchangers and organizes them at the most favorable rate. It is equally important that the list includes only trusted services that can be used without fear
How the exchanger works when buying or selling Ethereum:
The service has reserves on its wallets for each of the presented payment directions. The user needs to choose a direction, enter the details, create and pay for an exchange request. Then the exchanger will send a return payment to the required details (address). Some services provide a cumulative discount to registered users who regularly use this site. Also, a number of exchangers have Telegram bots that allow you to perform all the same operations, but through a messenger.
3. Trading ether through p2p platforms
Platforms of this kind are created in order to ensure the interaction of users who want to exchange cryptocurrency for fiat money and vice versa without intermediaries. They have a more decentralized and anonymous operating principle, low commissions, and an impressive selection of payment methods. As a rule, you can buy Ethereum (ETH) cryptocurrency or sell it for rubles, dollars, euros and receive payment to a bank card / account, various electronic wallets.
How p2p exchanges work:
Participants wishing to trade on their own terms create offers, specifying the exchange rate, accepted payment methods, the highest and the lowest limit. There may also be requirements for a potential counterparty, for example, a verified account or phone number. Other users respond to existing offers and make or receive payment in fiat money outside of the exchange. The desired offer can be selected using filters. The cryptocurrency is blocked in the escrow account during the transaction and is released after the payment is confirmed.
See also: best p2p exchangers for buying or selling cryptocurrencies.
4. Selling and buying ethereum through payment systems
With the help of payment systems, you can perform a wide range of tasks: pay for online purchases, spend funds from a debit card, exchange assets for each other, withdraw to the card and external wallets, and many others. Some EPSs provide a convenient and quick way to buy and sell Ethereum within the system.
Use of payment systems:
It is necessary to create and verify an account (Payeer and Capitalist do not require verification). You can then deposit any supported fiat money or cryptocurrency into your account. Finally, it remains to make the conversion and get the required assets at the exit. Then they can be withdrawn in a convenient way – to a wallet, card, cash, etc.
5. Selling and buying through Ethereum wallets
You can also sell or buy ETH through cryptocurrency wallets. This is suitable when you want to make a quick exchange of your assets or purchase them directly from a bank card without leaving your wallet or using third-party services. There you can usually track the dynamics of rates, carry out staking, etc., depending on the functionality of a particular wallet.
How to buy or sell Ethereum through a crypto wallet:
You will need to install a wallet on your device, saving the private key and seed phrase. If the wallet is custodian, then you will not be allowed to do this, the service will store the data itself. There are also wallets without the need for installation that work directly from the browser. One way or another, by logging into the wallet, you can go to the buy / sell section and make an operation, specifying the payment details of your card.
See also: the main types of cryptocurrency wallets.
6. Cryptocurrency ATMs supporting Ether (ETH) operations
Ethereum-backed ATM is even smaller than Bitcoin. According to the map https://coinatmradar.com/ether-atm-map/, there are only a couple of copies in Russia. There is one in Moscow, but it only works for the purchase of cryptocurrencies.
To buy Ethereum through a cryptocurrency ATM, prepare cash and a mobile wallet with a QR code of the address to which the coins will be sent. Press the Buy or Buy button on the screen, scan the QR-code, make sure that the address is recognized correctly. Enter the amount and pay in cash. Be sure to take a receipt with the transaction details. The funds should come within 10-40 minutes, otherwise you can contact the owner of the cryptomat using the contact information indicated on the check.
Where to store Ethereum after purchase
ETH is supported by many wallets, including:
- Ledger, Trezor – hardware;
- Atomic Wallet, Exodus – desktop;
- Metamask – browser-based;
- MyEtherWallet, MyCrypto – online;
- BRD, Trust Wallet, Jaxx – mobile.
To choose the best option, start from how often you make transactions and what amounts you are operating. This will give you an idea of which wallet is right for you.
Buying and selling Ethereum are actions that must be carried out deliberately. This is a financial investment on which further changes in your well-being depend, so you need to take this issue seriously. Choose the best moments to complete transactions, proven quality services with low fees, as well as reliable places to store your cryptocurrency. This will save you from many unpleasant situations.