How to Buy Ethereum (ETH) Guide 2018

How to Buy Ethereum

How to Buy Ethereum (ETH)

A Step by Step Guide

This guide will teach you how to buy Ethereum (ETH). We know that so many methods are available, so we made your life a little easier. Keep on reading! 

Step 1. Choosing the Best Ethereum wallet

*If you already have an Ethereum wallet, you may skip to: Choosing an Ethereum Exchange.

Also, you don’t really need a wallet because the exchange you’re using to buy Ethereum already has one. It’s just safer to get one.

Choosing a wallet is pretty easy. Either go for a digital (online) wallet, or a Hardware (physical wallet). Keep in mind, hardware wallets cost money. They are the safest type of wallets though.

The #1 choice for Ethereum wallets is; MyEtherWallet. It is very easy and convenient to use. (I’ll teach you how to set this up now)

Most popular Ethereum Hardware Wallet – Ledger Nano S *Highly Recommended*

Ethereum Wallet Setup

1) First, go to MyEtherWallet.com.

You will see on the screen “Create New Wallet” & “Enter a password”.

Choose a strong password that’s easy to remember. Copy it down and store it in a safe place.

Now click “Create New Wallet”.

2) Now you have to save your Keystore File.

Click “Download Keystore File (UTC / JSON)”.

It’s highly important that you store this file somewhere safe (External Drives / USBs that you can store safely).

Now click “I understand. Continue.”.

3) You will now be given an unencrypted private key for your wallet.

This is simply a backup to access your wallet in case you lose your Keystore file, or your computer crashes, etc…

Copy it down or print it out, and store it somewhere safe.

Note: You MUST store this somewhere safe (where only you have access too). If anyone gets access to your private key, they can hack into your wallet and steal all your funds. 

Finally, click “Save Your Address”.

4) Now it’s time to open your wallet.

Check the “Keystore File” option, upload the Keystore File from Step 2, and enter your password.

You can now see your opened wallet, just scroll down.

5) You should now have your Ethereum wallet opened.

On the top of your screen, you will see “Your Address” (A long string of letters and numbers). This is your personal Ethereum wallet address; where you’ll be sending your Ethereum coin to. 

Leave this open or copy it down and store it somewhere safe. We’ll need it shortly. 

Congrats, you have successfully set up your Ethereum wallet!

Now it’s time to choose an Ethereum exchange!

Step. 2 Choosing the Best Ethereum Exchange

Choose Bitcoin Exchange

For paying with Paypal, Moneygram, Western Union, Cash, Bank Deposits, Skrill, Gift Cards, and More.

*Recommended

For exchanging Bitcoin for Monero.

LocalEthereum

Use LocalEthereum to buy Ethereum with Paypal, Credit Card, Cash, Bank Transfer, and other Online Payment Methods.

1) First, go to LocalEthereum & click “Sign Up Today”.

2) You will now need to create an account. Simply enter a username, password, and e-mail.

You will be prompted to verify your e-mail address as well.

3) Now you will see a bunch of offers from different sellers.

To make it easier, just filter everything out based on your needs. You will be allowed to choose to “Buy or Sell” , what “Payment Method” you’d like to use , and your “Location”.

4) Now choose a trader with a good amount of trades (100+) , and with a low exchange rate.

6) After you click “Buy”, you will now be prompted to choose how much Ethereum you to buy (in USD). 

After you type in how much you want to buy, review the “Terms of Trade” with the seller (Right of screen).

If everything is to your liking, click “Open Trade”.

7) Wait for Seller to Fund Trade. Message the seller and tell him/her that you’re ready to send payment. They will then fund the escrow.

NOTE: Do Not send payment until sellers funds the trade!

8) After the seller funds the trade, you may now send the payment.

After you send the payment, click “Mark as Paid”.

Now the seller verifies the payment and releases your Ethereum! This only takes a few minutes!

Congratulations! But, how about when you’re ready to sell your Ethereum coin? It’s simple, you just reverse the steps.

*I always sell my Ethereum on LocalMonero. It’s easy and you sometimes you can make a profit! 

*Feel free to ask us any question at our digital help desk!

Binance

Exchanging Bitcoin & other Cryptocurrencies for Ethereum

For buying Ethereum coin on Binance, you have to exchange Bitcoin or other Cryptocurrencies. Simply put, you deposit Bitcoin into Binance, and exchange it for Ethereum coin. 

If you have Bitcoin, great, continue reading.

If you don’t have Bitcoin, read our Step-By-Step Bitcoin Buying Guide.

2) Register. Fill out your E-mail, and Password. Click “Agree” , and “Register”.

Go to your e-mail, and confirm registration with the link they sent you.

3) Deposit Bitcoin. On the top of your screen, click “Funds” then “Balances”. You should now see a list of all your wallets. 

Search “Bitcoin” and hit “Deposit”.

4) Now you will be directed to your Bitcoin (BTC) wallet. 

You should see your BTC Deposit Address (as shown belown). Deposit your Bitcoin to that address.

5) After you deposit your Bitcoin, you will get an e-mail when it has arrived. Usually 15-30 minutes.

You are now ready to trade your Bitcoin for Ethereum!

Go Back to your home Screen. 

  1. Click “BTC Markets”.
  2. Type “ETH” in the search bar.
  3. Click “ETH/BTC”
* “ETH” is the abbreviation for Ethereum

6) You should now be on the Exchange Platform. 

On the bottom left, you will see “Buy ETH” 

Just type in how much Ethereum or “ETH” you’d like to buy and click “Buy ETH”.

Your order will go in and it will be fulfilled shortly.

Congratulations! But, how about when you’re ready to sell your Ethereum? It’s simple, you just reverse the steps.

*I always sell my Ethereum on LocalEthereum. It’s easy and you sometimes you can make a profit! 

*Feel free to ask us any question at our digital help desk!

Remember, Be Smart & Invest

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