Ethereum is a decentralized open-source blockchain system that features its own cryptocurrency, Ether. ETH works as a platform for numerous other cryptocurrencies, as well as for the execution of decentralized smart contracts.
You may want to make a new investment and hence want to know how to buy Ethereum on eToro exchange. In this blog post, we’ll walk you through the process of buying Ethereum on eToro, a regulated broker that offers a wide range of features, including social trading, copy trading, and low fees.
What is Ethereum?
Ethereum is a decentralized blockchain platform that runs smart contracts: applications that run exactly as programmed without any possibility of fraud or third party interference.
Ethereum was founded in 2015 by Vitalik Buterin. It is the second-largest cryptocurrency by market capitalization, after Bitcoin. Ethereum’s native cryptocurrency is called ether (ETH).
Ethereum is a Turing-complete platform, which means that it can be used to create any kind of application. This makes it a powerful tool for developers who want to create decentralized applications
Why Buy Ethereum?
There are many reasons why you might want to buy Ethereum. Here are a few of the most common:
- Investment potential: Ethereum is one of the most popular cryptocurrencies in the world, and its price has been steadily rising in recent years. Many people believe that Ethereum has the potential to continue to grow in value in the future, making it a good investment.
- Decentralized finance (DeFi): Ethereum is the leading platform for DeFi, a new financial system that is built on blockchain technology. DeFi applications allow people to lend, borrow, and trade money without the need for a central bank or financial institution. This is a rapidly growing area, and Ethereum is well-positioned to benefit from it.
- Non-fungible tokens (NFTs): Ethereum is also the leading platform for NFTs, which are unique digital assets that cannot be replaced. NFTs have been used to represent everything from art to collectibles to in-game items. This is another rapidly growing area, and Ethereum is well-positioned to benefit from it.
- Smart contracts: Ethereum is a Turing-complete platform, which means that it can be used to create any kind of application. This makes it a powerful tool for developers who want to create decentralized applications. Smart contracts are one type of application that can be created on Ethereum.
- Scalability: Ethereum is constantly being upgraded to improve its scalability. This means that it will be able to support a larger number of users and transactions in the future. This is important for the long-term success of Ethereum.
Ultimately, the decision of whether or not to buy Ethereum is a personal one. You should do your own research and decide if you believe that Ethereum has the potential to meet your investment goals.
How to Buy Ethereum on eToro
Follow this step-by-step guide below to buy ethereum on etoro
Step 1: Create an eToro Account
The first step is to create an account on Etoro. if you already have an account with them you can skip this step and move to the next.
How to Create an Etoro Account
- Go to the eToro website or app and click on the “Join eToro” button.
- Enter your email address, username, and password.
- Check the boxes to agree to the eToro Terms and Conditions and Privacy Policy.
- Click on the “Create Account” button.
The minimum deposit amount on eToro is $10. You can make a deposit using a credit card, debit card, or bank transfer.
Step 2: Verify Your Account
You will then be asked to verify your email address. Once your email address is verified, you will need to verify your identity and address. You can do this by uploading a copy of your passport or driver’s license and a recent utility bill.
Also Read: How to Buy Dogecoin on eToro
Step 3: Deposit Funds
Before you can buy Ethereum, you will need to deposit funds into your eToro account. You can do this using a variety of methods, such as credit card, debit card, or bank transfer.
How to Deposit Funds into Your eToro Account
To deposit funds into your eToro account, follow these steps:
- Log in to your eToro account.
- Click on the “Deposit Funds” button at the bottom of the left-hand navigation.
- Select the amount you want to deposit.
- Select your preferred payment method and enter your information.
- Click on the “Deposit” button.
Step 4: How to Place a Buy Order for Ethereum
- Log in to your eToro account.
- Click on the “Trade” button at the top of the page.
- Search for “Ethereum” and click on the “Ethereum” ticker.
- Enter the amount of Ethereum you want to buy.
- Select your order type. There are two types of order types: market order and limit order.
- A market order will buy Ethereum at the current market price.
- A limit order will buy Ethereum at a specific price that you set.
- Click on the “Open Trade” button.
and booom you just purchased an Ethereum for yourself. Congratulations on your new investment.
How to Track Your Ethereum Investment
There are a few ways to track your Ethereum investment. Here are a few popular options:
- Use a crypto tracker: There are many crypto trackers available, both online and as mobile apps. These trackers allow you to track the price of Ethereum, as well as your own investment. Some popular crypto trackers include CoinMarketCap, CoinGecko, and Blockfolio.
- Use a crypto exchange: If you bought your Ethereum on a crypto exchange, you can usually track your investment through the exchange’s website or app. This is a good option if you want to track your investment alongside other assets that you hold on the exchange.
- Use a spreadsheet: If you are comfortable using spreadsheets, you can create your own tracker. This can be a good option if you want to track more details about your investment, such as the purchase price, fees, and capital gains.
- Use a portfolio tracker: A portfolio tracker is a more comprehensive tool that allows you to track all of your investments, including Ethereum. This can be a good option if you have a diversified investment portfolio. Some popular portfolio trackers include Personal Capital and Mint.
No matter which option you choose, it is important to track your Ethereum investment so that you can monitor its performance and make informed investment decisions.
Is it safe to Buy Crypto on eToro?
eToro is a regulated broker, which means that it is subject to certain rules and regulations designed to protect investors. However, no investment is ever completely risk-free, and there are always some risks involved in buying crypto.
Where to Buy Ethereum in USA?
- Coinbase
- Kraken
- Gemini
- Binance.US
- Crypto.com
Conclusion
In this blog post, we have walked you through the steps on how to buy Ethereum on eToro. We hope this information has been helpful.
It is important to remember that cryptocurrency trading is a risky investment, and you should only invest money that you can afford to lose. Before you buy any cryptocurrency, it is important to do your own research and understand the risks involved.
We also recommend that you use a reputable cryptocurrency exchange like eToro. eToro is a regulated exchange that offers a variety of features and tools to help you trade cryptocurrencies safely and securely.
We hope this blog post has been helpful. If you have any further questions, please feel free to contact us.
From crypto clueless to confidently cruising! This guide was my Ethereum education rocket ship. Learned tons, feel empowered, and ready to navigate the cryptoverse