How to Buy Ethereum

The Easiest Way to Purchase ETH Instantly
By 
Coin Cloud Team
, published on 
January 26, 2022
How to Buy Ethereum

The Ethereum blockchain token (ETH) is one of the strongest cryptocurrencies in the world. In November 2021, the value of Ethereum reached $560 billion, which puts it just behind Bitcoin as the second biggest blockchain token in the world. 

But the big question is, how do you buy Ethereum? Let’s review what you need to know about purchasing some of this digital asset. 

What is Ethereum?

Ethereum is a blockchain platform that comes with its own cryptocurrency, which is called Ether (ETH). The Ethereum blockchain is a decentralized public ledger that records all transactions made on the network. 

Most people looking to invest in ethereum think they’re just buying a cryptocurrency. But the Ethereum network offers a wide range of development opportunities, and supports plenty of decentralized finance (DeFi) projects, making it arguably a more valuable asset than Bitcoin in terms of potential. 

Here a few key things to note about Ethereum: 

  • Ethereum has a current market cap of almost 350 billion dollars. 
  • Ethereum is second only to Bitcoin in terms of market capitalization. 
  • Etherum is a smart contract platform, not just a cryptocurrency. 
  • Ethereum runs stablecoins, DeFi projects, non-fungible tokens (NFTs) and more
  • You can buy ETH with cash at Coin Cloud digital currency machines. 
  • Ethereum’s “Ether” coins are called “gas” … get it? Ether gas?

Fun fact: Ethereum got its start through crowdfunding to get the capital needed for the program to launch.

How Do I Buy Ethereum?

If you’ve never purchased cryptocurrency before, the process can absolutely seem confusing. Luckily, big players in the industry are making the process easier than ever before. 

Here’s your guide on how to buy Ethereum now.

Choose Your Type of Platform

There are basically four types of platforms you can use to buy Ethereum.

  1. Peer-to-Peer (P2P) exchange: This is the oldest way to buy cryptocurrency. You go online, find someone who wants to sell you their crypto, and meet up in a coffee shop or digitally trade your assets online. Most people prefer not to do this anymore, since there are much better and safer options.
  2. Decentralized exchange (DEX): These crypto-only exchanges don’t usually let you buy digital currencies directly. Instead, you swap one for another. Ether is usually the main currency on these platforms, since they are mostly built on the Ethereum network. But you can’t buy Ethereum without having some other digital token to trade for it.
  3. Centralized exchange (CEX): These are the online exchanges most beginners come across first, like Coinbase, Gemini and Binance. Here you can buy Ethereum online with USD, but first you need to connect your bank account and go through their KYC and approval process, which usually takes several days.
  4. Digital Currency Machine (DCM): Like a more advanced Crypto ATM, a Coin Cloud DCM gives you a fast and easy way to buy and sell cryptocurrencies with cash. You can buy ethereum instantly at these physical self-serve kiosks, so you don’t have to wait and you don’t have to talk to anyone (unless you want to … then there’s 24/7 customer support).

What’s the Best Place to Buy Ethereum?

Now that you know your options, you need to figure out which one works best for you.

Of these four methods, only DCMs (and sometimes P2P, depending on the arrangement you make) give you the ability to buy ethereum with cash. You don’t even need a bank account, so DCMs are the preferred method for the unbanked and underbanked. DCMs streamline the process of purchasing Ethereum, removing the additional steps needed for any other method.

Coin Cloud machines are a great way for new crypto-enthusiasts to purchase digital currency, quickly, easily  and without a bank account or too much personal information. To get started, all you need is a smartphone and some cash.  

How to Buy ETH at a Coin Cloud DCM

Here’s how to buy ethereum with cash at a Coin Cloud machine, step-by-step.

  1. Press the “Start” button.
  2. Enter your mobile phone number and verification code. 
  3. Select the “Buy” option followed by “Ether (ETH)”.
  4. Scan your Ethereum wallet’s QR code with the DCM camera. 
  5. Insert your bills one at a time and press “Done”.
  6. Your transaction will begin processing on the Ethereum network. 
  7. Transactions can take approximately 10-15 minutes to process, depending how busy the network is. 
  8. Once the transaction has fully processed you will receive your receipt via text message, and the Ethereum will show up in your wallet

By the way, if you also want the option to buy ethereum with a debit card, you can use both credit and debit cards to purchase online at Coin Cloud’s website.

If you’re looking at buying Ethereum as an investment opportunity, keep in mind that like any investment (and especially in the cryptocurrency world), there are risks. Crypto can be volatile, and there may be a price crash where your asset loses value. 

But volatility can be both a blessing and a curse. Part of the excitement behind crypto is the rush of watching the market, fluctuations and all. 

Conclusion

Now that you know you can buy Ethereum instantly with cash at a Coin Cloud DCM, you might wonder where to find them. Well, these next-gen Bitcoin ATMs are located in over 4,500 retail locations across the U.S. for your convenience.

For an up-to-date location finder, download the free Coin Cloud crypto wallet app, which gives you the power to buy, sell, swap, send, receive, store and manage your Bitcoin and other digital currencies.

There’s a location finder, so you can find your nearest machine from the palm of your hand, and you can also set up your sell transactions in advance to speed up the process and reserve your cash for up to 48 hours.

Disclaimer: The information and views supplied on the Coin Cloud blog are for educational and entertainment purposes only. We are not financial advisors, so please do your research and consult with a trusted financial specialist before investing your money.

What is Coin Cloud?

Founded in 2014 in Las Vegas, Nevada, Coin Cloud is the leading digital currency machine (DCM) operator. With over 4,500 locations nationwide, in 48 states and Brazil, Coin Cloud operates the world’s largest and fastest-growing network of 100% two-way DCMs, a more advanced version of the Bitcoin ATM. Every Coin Cloud DCM empowers you to quickly and easily buy and sell over 40 cryptocurrency options with cash.

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