How To

How to Buy Ethereum with Bank Account?

Almost all of us have heard of Ethereum and how it has recently increased in value (more so because of the popular Ethereum ICOs). Ever since its inception, more and more crypto enthusiasts are enquiring about it.

What is Ethereum?
Ethereum runs on a decentralized blockchain, similar to that of Bitcoin, and is currently considered the second most popular cryptocurrency in the world after its predecessor Bitcoin, with respect to market capitalization. There is no specific limit to the supply of Ether which makes it all the more attractive. Currently, there are about 92 million Ether already in circulation, with more and more coins being mined every other day.

How to buy Ethereum or Ethereum Classic?
As the popularity of Ether grows by leaps and bounds, more and more investors are looking forward to buying this cryptocurrency. Here’s how you can make a worthy purchase.

1. Using Credit/Debit cards or Wire Transfers through Exchanges

Gross market revenue suggests that Ethereum is being sold like hot cakes, with the list of interested buyers increasing each passing day. There are many exchanges that support Ethereum trade. However, when it comes to direct purchasing, the list is quite short. Many investors prefer purchasing Bitcoin as a first step and then exchanging the earned BTCs for Ether or ETH. You also need to consider the different exchanges that operate in your region, since every purchase exchange comes with its own limitations. These include both access (not accessible worldwide) as well as the purchase amount (purchase amount cannot exceed a certain number). There are a few exchange platforms like Coinhouse, Coinbase, and the like that enable users to make purchases via debit cards, credit cards or simply bank transfers through internet or phone banking.

2. Using Other Cryptocurrencies

You also have the option to purchase Ether on exchange platforms which support the transfer of Bitcoin (BTC) or Litecoin (LTC) to Ether (ETH). Shapeshift is a notable name in this regard and supports quick trades among different assets without the need to open a user account.

If you wish to spend your Ether, you can get a prepaid debit card and load it with your Ether cash. Swipe it at any retail outlet that accepts Ether. You can also pay your utility bills or exchange Ether for fiat currencies and then transfer the same to your bank account.

Now that you have purchased Ethereum, you should also look at Ethereum Mining, which will help you make more profits. You can earn rewards in the form of Ether by simply maintaining your blockchain.

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