London, Europe Brief News – Ethereum is a cryptocurrency widely used the developed countries around the world. It plays a great role in non-fungible tokens also known as NFTs. Currently, it is the second most famous cryptocurrency right after Bitcoin. Experts recommend investing in this cryptocurrency as a beginner to reduce the risk.
As compared to other cryptocurrencies, Ethereum is more stable to invest in. because there are new releases that don’t really have any stability due to low investments and high fluctuation in prices. Putting all that aside, if you’ve decided to invest in Ethereum then make sure to follow the following steps.
Also Read: How To Buy $Magic: 6 Easy-To-Follow Steps
How to buy Ethereum?
Follow the steps given below to buy Ethereum.
Step 1: Choosing a cryptocurrency exchange
Unlike other platforms, you can not buy Ethereum through a bank or credit/debit card. Instead, you will have to use cryptocurrency exchange platforms like eToro, Coinbase, etc. You can also buy it from Venmo or PayPal which are widely used as mediums to buy Ethereum.
Though all those platforms have their specific pros and cons so make sure to look up the platform you choose.
Step 2: Connect your funding account
Once you have proven your identity and signed up, you will need to connect either your bank account or credit/debit card to start purchasing Ethereum. One thing to keep in mind is the differences in fees each platform contributes to.
Step 3: Order for Ethereum
Next, trade your US dollars for Ethereum. The amount of Ethereum you purchase will show in percentages of total ether coins.
Step 4: Storage
Storage of your Ethereum is probably the most essential step. It is important to store them in a secure electronic wallet to avoid any mishaps. You can look for the best digital wallet app with the features that suit your preferences.
Read More: Macron Not In Favour Of Self-Regulated Crypto Finance
Should I invest in Ethereum?
Now, time for the big question. The answer to this is yes. Several experts in this field have suggested beginners invest in Ethereum or Bitcoin at the start. People also suggest not to invest if you are risk-conscious. Cryptocurrencies are said to change very quickly since they are volatile.
So, make sure you have high-risk tolerance. Also, experts say that you should only invest five percent of your money to not lose all your money in one go. Since it won’t help if you’re investing to pay off something. Invest only when you are willing to lose that money.
