The Ethereum Blockchain Token, known as Ether or ETH, is one of the world’s top three cryptocurrencies. It is the third-highest valuable cryptocurrency, following Bitcoin and Ripple. The major appeal to this digital money is the integration with the Ethereum Network. Plus, ETH is the primary driving force behind the capabilities of the network. With ETH Network offering multiple growth opportunities, ETH is seen as an investment that is more promising than other cryptocurrencies.
Several Fortune 500 companies back ETH, and it is used by several financial institutions today for online transactions. For all these reasons, investors are not increasingly adding ETH to their profiles. But, always start treading in ETH after checking the online Ethereum Live Price available at exchanges and trading platforms for free.
Identify the Best Platform for Trading
As the basis of all trading, it is crucial to identify the best trading platform as per your needs. There are selected options when it comes to trading in ETH, and you need to ensure that the trading exchange offers ETH.
The biggest consideration for choosing the best platform for ETH trading is the type of exchange. The platform for trading ETH can either be fiat exchange or C2C (Cryptocurrency to Cryptocurrency) exchange. Since ETH is the third-largest cryptocurrency, it is suggested to trade on ETH using the fiat exchange only. But, if you are trading in multiple cryptocurrencies, then choose the C2C exchanges.
Creating an Account
As you have decided on the best trading exchange for ETH, it is time to create an account. It is like opening an account with the brokerage platform. You need to share your details, social security number, particular forms of identification, and more. After opening the account, you have to verify the account opening process. The verifying process of account varies depending upon the exchanges.
As the account is created and verified, you need to deposit currency into the ETH trading account. For fiat exchange, the process is quite simple and easy. You can easily add money into your account using a debit card or bank account on file. The exchanges don’t have high minimum investments, and you can invest as little as $5 and as high as $1000. There is a fee for each trade, and it depends upon the trading amount.
In C2C exchanges, depositing money is quite complicated. You need to send cryptocurrency by code from one location to another. The code transfer takes a long time to get complete.
As the account is verified and the amount has been deposited, you can start buying and investing in Ethereum via the exchange. The exchange has a different interface that works differently. But you need to confirm all your transactions and give time for processing the transactions. Plus, you also need to invest in ETH after checking Ethereum Current Price as it varies depending upon the exchanges and market value of ETH.
Withdrawal of ETH into Digital Wallet
After purchasing ETH on the exchanges, you can withdraw them into your digital wallet or directly into your bank account. In fiat exchanges, the process of withdrawing the ETH is quite easy as you can sell the ETH and send the proceeds to your bank account. In C2C Exchanges, you must perform code transfer your ETH to fiat exchange and then sell them to cash out. You can also send ETH directly to your digital wallet on all exchanges.
If you want to invest in ETH, consider these steps for smart and smooth trading ETH. But, you must keep checking the Ethereum Live Price online at the platform before investing.