The easiest ways to invest in Ethereum
While Bitcoin has gained a huge amount of publicity lately, there are plenty of people who feel that the Ethereum blockchain is a more interesting long-term prospect.
In terms of its price, Ethereum (ETH) had a spectacular year in 2017, as it rose to an all-time high of more than $1,400. It has dropped back since and at the time of writing each coin is worth a little over $200.
The most optimistic predictions for its price over the next few months have it reaching $1,900, while other analysts aren’t as confident of a big price hike coming so soon. If you like what it is about then how can you easily invest money in this cryptocurrency?
What is Ethereum?
We should start by looking at this currency in more detail. It is the native token of an open-source platform that allows developers to build decentralised applications and smart contracts.
Ethereum is the brainchild of developer Vitalik Buterin and it went live in 2015. Several upgrades have been completed since day one, with the upcoming Ethereum 2.0 expected to iron out some of the existing systems in the network.
How Can You Buy Ethereum?
The idea of complex processes and potential scams are enough to put many people off the idea of investing in cryptocurrencies right away. Yet, buying Ethereum doesn’t have to be as difficult to do as you might imagine. In the past, this has meant opening up a wallet, buying the coins and then storing them there. This raised the fear of losing your investment, either to hackers or because you lose the details needed to enter the wallet.
Now, there are Ethereum exchanges and brokers that allow you to buy coins directly with them without the need for your own wallet. This makes it very easy to buy and sell coins whenever you want to. You can also invest in a CFD, which means that you never actually own the coins, you’re just speculating on their price. In this case, you simply earn or lose money based on how ETH performs against another chosen cryptocurrency or fiat currency. There are also many different payment methods such as bank card, wire transfer and PayPal. In fact, it’s even possible to sell ETH for PayPal money once you decide to cash out. To get started, you just register with a broker, choose the payment method and buy the coins that you want.
How Much Ethereum Will You Buy?
Cryptocurrencies remain highly volatile investments that can vary greatly in price over a short period of time. This means that investing a lot of money in any currency of this type is a bold move could lead to impressive profits if the timing is right.
As we saw earlier, the price of Ethereum has varied widely in recent times. Some analysts see this as being a good time to invest, as it may bounce back soon, especially with the developers working hard on improving the network even more.
A sizeable investment in Ethereum is now easier to make than ever, but it definitely isn’t for the faint-hearted.