What is Ethereum?
Ethereum is the second most traded Cryptocurrency which is actually not like Bitcoin at all. Ethereum is more of a blockchain based software platform than a Cryptocurrency in the sense that Bitcoin is. Ethereum transactions are about 50 times faster than Bitcoins and some users believe that this efficiency makes it more attractive and easier to use. The creator of Ethereum said “The idea is that there exists this magic computer in the cloud and anyone can send programmes to it, anyone can run programmes on it and those programs can talk to each other.” There are more coins still available in the Ethereum Network vs Bitcoin so it has seen a rapid rise. The way it has been set up means that the early adopters of Ethereum don’t hold all the power like with Bitcoin. Ethereum gives developers a way to raise funds for various projects and you can also set up smart contracts. These contracts can help you set up virtual shares, assets, or proof of membership. This makes this an ICO style Cryptocurrency so the chances of your Ethereum holdings going to zero are probably higher than with Bitcoin.
How Can You Buy Ethereum?
Get yourself an account at Coinbase and you will be able to buy Ethereum. If you have an account at Coinbase you will also have an account at GDAX since they are both owned by the same company. GDAX is slightly more complicated to understand than Coinbase but does have lower transaction fees. Coinbase and GDAX currently offer Bitcoin, Ethereum, Litecoin and Bitcoin Cash. Funding options vary from country to country and range from Credit Card, Debit Card, and Bank Transfer. On a side note; if you buy or sell $100 worth of Bitcoin you will get a free $10 worth added to your account.
BitPanda offers Dash and has plenty of familiar funding options. They currently allow you to fund your account with Credit Card, Debit Card, Bank Transfer, Neteller and Skrill. You will also have access to Bitcoin, Ethereum, Litecoin, Bitcoin Cash and Dash at one place. BitPanda is based in Austria and well trusted but they are not as big as Coinbase.
Since this is a trading education website I must assume that you are also interested in trading. Cryptocurrencies can be traded for cryptocurrencies or back into fiat currency via cryptocurrency exchanges. This is a style of trading with no leverage which makes it very easy to understand. You can trade with or without charts and therefore decide your own level of complexity. Most amateur traders diving into cryptocurrency are just looking to buy and hold certain cryptocurrencies because they believe in them. With or without charts, less or more involved, the options are both there.
Forex Traders: Ethereum Can be Traded on MT4
If you would like to trade Ethereum just as you would any fiat currency or commodity then there are several options. You can even trade on MT4 if that is the software you are used to using and a dedicated page for this has been created for this specific type of trading. Just click the button directly below and choose your Broker.
Binary Options Style Traders: Percentage Win/Loss 1-Click Trading
If you like the idea of 1-click buy or sell trading similar to Binary Options but much better, then there is a great option to do so with Ethereum. You can now just set the amount of money you wish to risk, at what percventage profit or loss you want out, and then click Buy. No need to own Ethereum, no need to risk any more than you want on each trade, no hassle and can be done from a mobile device, laptop or desktop.