Ethereum

How to Buy Ethereum – Forbes Advisor

Published

1 year ago

17 May, 2024

Editorial note: We earn commission from partner links on Forbes Advisor. Commissions do not affect the opinions or ratings of our editors.

Although Bitcoin is the top cryptocurrency based on the value of its coins in circulation, Ethereum is not left out. With a total value of over $230 billion, it is the second largest cryptocurrency by market capitalization. Here’s how to start buying Ether, the official name of the token that runs the Ethereum platform.

How to buy Ethereum

Investing in Ethereum may be easier than you think. Here’s how to get started in just five steps:

1. Determine your risk level

There is no way around this problem; buying Ethereum can be a gamble. Although all investments carry some risks, cryptocurrencies are particularly vulnerable to price fluctuations. Just think about the impact a few hundred characters can have on the price of cryptocurrencies: after Elon Musk tweeted that Tesla would no longer accept Bitcoin as payment, for example, the coin’s value dropped by 15%.

Although Ether has seen impressive returns in the past, it has also experienced significant crashes, sometimes in surprisingly short time frames. Notably, it fell from a high of almost $4,000 per coin in May 2021 to less than $1,800 in June 2021. If you had bought at its high, you would be sitting with barely half that value a month later. That’s pretty extreme volatility.

This is why it is important to consider your risk tolerance as well as the diversity and stability of the rest of your investment portfolio before purchasing Ether. Experts recommend never investing more in crypto than you can afford to lose.

2. Choose a crypto exchange

Buying Ether is a bit more complicated than simply purchasing stocks or mutual funds through your current account. brokerage account. Cryptocurrencies are not traded on major exchanges like New York Stock Exchange (NYSE)and many brokerages do not offer crypto investing.

To buy cryptos, you must first create an account on a crypto exchange. In practice, it’s like the brokerage platforms you may be more familiar with: crypto exchanges allow buyers and sellers to exchange fiat currencies, like dollars, for cryptocurrencies like Ethereum, Bitcoin or Dogecoin. If you don’t have a crypto exchange in mind yet, take a look at our list of best cryptocurrency exchanges to find the one that suits you. Although some exchanges’ trading platforms become complex, most offer a simple purchasing interface for beginners, although it may charge higher fees than their trading platform.

Some key points: When choosing an exchange platform, make sure it offers a crypto wallet to store your investments. The vast majority do, but if not, you’ll need to get one.

And if you’re a real beginner, you can always use a platform like Robinhood or Cash App. This will greatly simplify the process of buying crypto for you, but it comes with a hidden cost: you cannot withdraw your Ethereum investment and put it into a third-party wallet or use it to pay for online purchases. Using one of these simplified exchanges means that your crypto will only be able to be traded on the exchange you purchase it on. So you will need to withdraw money from this platform and then buy it back on a crypto exchange to keep it in a separate wallet.

Start investing in Ethereum today with Coinbase

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3. Fund your account

Before you can buy Ethereum through a crypto exchange, you must fund your account. In most cases, you will deposit money from a bank account, such as your personal checking or savings account. You can also usually make wire transfers, use a debit card, or deposit money from PayPal.

When choosing a funding method, look at the crypto exchange’s fees; they may vary depending on the method.

A warning: some platforms allow you to purchase cryptocurrencies using a credit card. Although it may seem tempting, credit card companies generally consider cryptocurrency purchases to be cash advances. Depending on the card you have, you may have to pay a higher interest rate and cash advance fees on top of the crypto exchange’s fees.

4. Buy Ethereum

When you buy stocks, mutual funds, or exchange-traded funds (AND F), you are limited by market times. For example, Nasdaq Trading Hours are from 9:30 a.m. to 4:00 p.m. ET, and the exchange is closed on weekends and some holidays.

Cryptocurrencies like Ethereum work very differently: because they are decentralized currencies, you can buy and sell them 24 hours a day.

To purchase Ethereum, enter its ticker symbol — ETH — into the “buy” field on your exchange and enter the amount you wish to purchase. If you don’t want to purchase an entire Ethereum token or don’t have enough money in your account for a full coin, you can purchase a fraction.

For example, if the price of Ethereum is $2,000 and you invest $100, you will buy 5% of an Ether coin. It’s like when you buy a fraction of share of a stock.

5. Store your Ethereum

Once your Ethereum purchase has been processed, you need to store your cryptocurrency. Although some platforms store them for you, some people choose to store their investments themselves to reduce the risk of losing their crypto to a hack. This is understandable, but it is also important to note that most major exchanges insure their customers’ holdings and often store the majority of their assets offline to avoid mass thefts. Additionally, historically, hacked exchanges have reimbursed all losses.

But if you want peace of mind regarding your crypto, you can choose to move it to one of two types of third-party wallets:

Hot wallet: A hot wallet is connected to the Internet and can be accessed from a computer or smartphone. They are convenient and are usually provided by cryptocurrency exchanges at no extra cost, although you can also use your own if you prefer your crypto off the exchange. However, because they are always connected to the Internet, they are at higher risk of security breaches.
Cold wallet: Cold wallets, meanwhile, external devices are completely disconnected from the Internet. Depending on the type you choose, they typically cost between $50 and $200, although there are even more expensive versions. Although cold wallets are less convenient than hot wallets (you have to manually connect them to the internet every time you want to access your crypto), they are more secure and may make sense if you own a significant amount of Ethereum or other cryptocurrencies.

How to sell Ethereum

To sell your Ethereum, simply return to your crypto exchange and enter the amount you wish to sell.

If you are selling a significant amount of crypto, you may want to consult a tax specialist. Despite its decentralized nature, crypto is taxable in the eyes of the federal government. Your profits from the sale are generally subject to capital gains taxes and can significantly affect the amount you owe the IRS at tax time.

Should you invest in Ethereum?

Ethereum is extremely popular, with over 116 billion coins currently in the hands of investors. But just because it’s one of the most well-known cryptocurrencies doesn’t mean it’s right for you.

Before you buy a volatile investment like Ether, you need to make sure you’ve done your research and that your finances are in good shape. Ideally, you should have a large emergency fund, max out your retirement accounts, and have minimal debt. Even though you can check all of these boxes, it’s important to diversify your portfolio, which is why only a portion of your investments should be in Ethereum and other cryptocurrencies.

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Ethereum

Ethereum Price Hits $3,300, Eyes on $4,000 This Week?

Published

1 year ago

15 July, 2024

editorial

The cryptocurrency market has seen a strong price rally over the past weekend. This has helped Ethereum price reclaim the $3,300 mark. Moreover, with the increased bullish sentiment, ETH price is likely to see some positive action this week.

Moreover, with the recent market rally, the Ethereum token market cap has crossed the $400 billion mark and is currently valued at $404.72 billion. In this context, investors are worried about whether Ethereum will reach $5,000 and whether ETH will rise again.

Scroll down because in this article, we have covered the market sentiment, price analysis, and possible short-term price targets of ETH price. To know if the Ethereum token will hit $10,000 in this bull rally, read CoinPedia’s detailed analysis on the Ethereum Price Prediction.

ETH coin price evolution:

Ethereum price started the week on a positive note by adding 5.67% to its portfolio over the past two days. Additionally, the altcoin recorded 5 out of 7 positive days over the past week, highlighting increased buying pressure.

TradingView: ETH/USDT

Additionally, with the continued bullish price action in the crypto space, the ETH Price is about to test its descending channel pattern resistance trendline, the outcome of which is unpredictable.

With a jump of around 5% over the past day, the Ethereum token has regained the $3,300 mark. Moreover, the altcoin leader has surged by 11.76% over the past seven days, indicating an increase in bullish sentiment within the cryptocurrency market.

Ethereum Market Sentiments:

The Relative Strength Index (RSI) has crossed above its midpoint and is heading towards its overbought zone. This indicates a strong bullish reversal in the crypto space. Moreover, the average trendline is showing a positive curve, suggesting that the ETH price will continue to gain value this week.

The MACD indicator is showing a steady rise in the green histogram, highlighting an increase in buying pressure. Moreover, the averages have registered a bullish convergence, indicating a positive outlook for the altcoin leader in the crypto space.

Will ETH Price Hit $4,000 in July?

If Ethereum price breaks out from its channel pattern resistance trendline, the bulls will gear up to test its upper resistance level of $3,700. Sustaining the price at this level will pave the way for the ETH cryptocurrency to head towards its higher high of $4,000 in the coming time.

Conversely, a bearish trend reversal could push Ethereum price towards its July low of $3,000.

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Ethereum

Digital assets see record $17.8 billion inflows year-to-date as Bitcoin and Ethereum lead the charge

Published

1 year ago

15 July, 2024

editorial

Digital assets see record $17.8 billion YTD inflows as Bitcoin and Ethereum lead the charge

Digital asset investment products saw back-to-back inflows this month, with $1.44 billion recorded last week, according to CoinShares“Last weekly fund flow report.

The recent inflow brought the year-to-date total to a record $17.8 billion, surpassing the $10.6 billion in inflows in 2021.

However, trading volumes remained low, at around $8.9 billion, compared with a seven-day average of $21 billion.

Bitcoin sees fifth largest inflow.

A flow analysis showed that Bitcoin Last week, Bitcoin recorded its fifth-largest weekly inflows ever, totaling $1.5 billion. Conversely, short-Bitcoin saw its largest weekly outflow since April 2024, amounting to $8.6 million.

This move suggests a shift in market sentiment for the cryptocurrency industry. Bitcoin’s large inflows indicate growing investor confidence in the asset’s potential for substantial growth, with many investors taking advantage of the recent price drop to enter the market.

James Butterfill, Director of Research at CoinShares, said:

“We believe that price weakness due to German government bitcoin sales and a sentiment reversal due to lower-than-expected US CPI prompted investors to add to their positions.”

Crypto Asset Inflows (Source: CoinShares)

In the meantime, EthereumCryptocurrency-linked crypto products attracted $72 million in inflows ahead of the launch of its cash exchange-traded funds (ETFs). This was its largest inflow since March, bringing its year-to-date flows to $57 million.

Nate Geraci, President of ETF Store, predicted The SEC will reportedly approve ETH ETF products for trading this week as the financial regulator “sees no good reason to delay further at this point.”

Additionally, large-cap alternative digital currencies like Solana, Chainlink, Avalanche and XRP has recorded more than $8 million in cumulative admissions.

Regionally, the United States led the way with capital inflows of $1.3 billion last week, reflecting generally positive sentiment. Switzerland set a yearly record with $58 million in inflows, while Hong Kong and Canada recorded $55 million and $24 million, respectively.

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Ethereum

Bitcoin, Binance, Ethereum, Solana and Ripple: The biggest crypto news of the past week

Published

1 year ago

15 July, 2024

editorial

Bitcoin, Binance, Ethereum, Solana and Ripple: The biggest crypto news of the past week

2:00 p.m. ▪ 4 min read ▪ by Luc Jose A.

Between groundbreaking announcements, technological advances, and regulatory turbulence, the crypto ecosystem continues to prove that it is both a territory of limitless innovation and a field of regulatory and economic battles. Here is a summary of the most significant news from the past week around Bitcoin, Ethereum, Binance, Solana, and Ripple.

Assassination attempt against Trump: Bitcoin soars

Last Saturday, an assassination attempt against Donald Trump during a rally in Pennsylvania shook the political and financial scene. The shooter, Thomas Matthew Crooks, was neutralized after wounding Trump in the ear. This attack triggered an immediate reaction in crypto markets, with the price of Bitcoin rising 5.5% to $62,450. Donald Trump’s support for the cryptocurrency industry stands in stark contrast to that of his opponent Joe Biden, who has bolstered investor confidence in a potential pro-crypto administration. Bitcoin’s rise has been followed by other cryptocurrencies like Ethereum and Solana, driven by public support from influential figures like Elon Musk.

XRP Takes Another Step Towards Institutional Recognition

Ripple has taken a crucial step in integrating XRP into the institutional market with the announcement by the Chicago Mercantile Exchange (CME) to launch real-time price indices for the crypto. The move, backed by Ripple CEO Brad Garlinghouse, marks a significant step forward for XRP and provides institutional investors with reliable and accurate price references. The launch of these indices by CME, in partnership with CF Benchmarks, includes continuous updates based on the activities of major trading platforms such as Coinbase and Kraken. This could pave the way for future developments such as an XRP-based ETF, further strengthening its position in the traditional financial market.

Bitcoin joins French retirement savings plans

Bitcoin made a notable entry into Retirement Savings Plans (PER) via an innovative partnership between VanEck Europe and Inter Invest. This partnership introduces a Bitcoin ETN, allowing French savers to diversify their portfolios with the leading crypto. This ETN, backed by real bitcoins and held by a regulated custodian, ensures secure and controlled exposure to this emerging asset class. Jean-Baptiste de Pascal, Deputy CEO of Inter Invest, underlines that this initiative is part of a strategy to democratize innovative financial assets. Martijn Rozemuller, CEO of VanEck Europe, adds that while Bitcoin is currently volatile, it represents an innovative asset in the long term. This integration of Bitcoin into the PER opens up new opportunities for savers while modernizing the retirement savings sector in France and meeting the expectations of investors seeking diversification.

USDT surpasses Bitcoin, Ethereum and Solana in trading volume

Tether (USDT) recently reached daily transaction volume exceeding $55 billionoutperforming Bitcoin (BTC), Ethereum (ETH), USD Coin (USDC), and Solana (SOL) combined. This performance underscores the growing role of stablecoins in the crypto ecosystem, especially during periods of high volatility. The increased demand for more stable assets like USDT, coupled with its growing use in trading, is behind this trend. The increased liquidity provided by USDT boosts investor confidence and stabilizes trading. The outlook for USDT and stablecoins, in general, is promising but depends on regulatory developments and market adoption.

That’s the main takeaway from this week. But if you’d like a more detailed summary and in-depth analysis delivered straight to your inbox, feel free to Subscribe to our weekly newsletter.

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Luc José A. avatar

Luc José A.

A graduate of Sciences Po Toulouse and holder of a blockchain consultant certification issued by Alyra, I joined the Cointribune adventure in 2019. Convinced of the potential of blockchain to transform many sectors of the economy, I am committed to raising awareness and informing the general public about this constantly evolving ecosystem. My goal is to enable everyone to better understand blockchain and seize the opportunities it offers. Every day, I strive to provide an objective analysis of current events, decipher market trends, relay the latest technological innovations and put into perspective the economic and societal challenges of this ongoing revolution.

DISCLAIMER

The views, thoughts and opinions expressed in this article are solely those of the author and should not be considered investment advice. Do your own research before making any investment decision.

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Ethereum

Ethereum hits record high of $3,300 amid ETF hype

Published

1 year ago

15 July, 2024

editorial

A busy week for Ethereum (ETH)The cryptocurrency has surpassed the $3,300 mark, driven by growing anticipation surrounding the Ethereum Spot Exchange Traded Funds Approval Imminent (ETF). According to Cointelegraph, analysts like Nate Geraci are betting big on this development, predicting that the SEC could greenlight eight ETH ETFs by the end of the week.

ETF Approval Imminent

Nate Geraci, known for his insightful analysis on The ETF Store, is optimistic about the chances of launching ETH spot ETFs this week. According to Cointelegraph, Geraci and insiders close to the process believe there are few hurdles left, suggesting that ETF approvals could go smoothly.

The Meteoric Rise of Ethereum

Ethereum’s price surging past $3,300 shows how confident the market is in ETFs. Experts like MV Global’s Tom Dunleavy predict an influx of money from big investors once these ETFs go live. Speaking to Cointelegraph, Dunleavy described Ethereum’s appeal as a tech stock in the crypto world that’s easier for ordinary investors to understand than Bitcoin.

Recent Ethereum Developments

While ETFs are in the spotlight, Ethereum’s core setup is seeing big improvements. According to Cryptoquant, Ethereum developers are talking about projects like Pectra and PeerDAS. These projects aim to make Ethereum faster and more secure, which is crucial to its long-term success.

What future for ETH?

ETH is now trading around $3,357 and climbing, all eyes are on Ethereum’s future. The focus is on two things: how regulators will decide on ETFs and the new technology updates that are underway. Analysts and investors are glued to these details, expecting them to shape Ethereum’s performance in the months to come. Moreover, if these ETH spot ETFs get the green light, it could send Ethereum’s price even higher.

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