How To Buy Ethereum (ETH) Fast On Kriptomat?

Say the word “cryptocurrency” and most people think of Bitcoin. That makes perfect sense. Bitcoin was the first modern cryptocurrency and it is the top-ranked crypto according to many measures. Bitcoin accounts for about 40% of the total cryptocurrency market capitalization.

Bitcoin is not the only game in town. Teams around the world have launched thousands of cryptocurrencies since Bitcoin hit the market in 2009. Many were created to support specific market niches or blockchain-based projects.

One crypto, in particular, has attracted a great deal of attention from users, developers, and investors. Ethereum is the second-largest cryptocurrency in terms of market capitalization, accounting for about 17% of the market.

That’s one reason people are so eager to learn how to buy Ethereum. But it is not Ethereum’s second-place finish in the market cap race that makes it significant. Ethereum plays a uniquely important role in today’s crypto market and the emerging world of blockchain-based applications. And you can be part of it when you learn how to buy Ethereum.

What Makes Ethereum Special?

Bitcoin was launched as an electronic alternative to government-issued fiat currencies. This goal guided the mysterious Satoshi Nakamoto in developing the Bitcoin spec and it has inspired buyers and investors ever since.

Ethereum could be used as a general-purpose currency, but that’s not the vision that inspired its creators. They view the Ethereum ecosphere as a platform for developing and deploying blockchain-based applications.

Key to this vision is the Ethereum blockchain’s support of smart contracts. The Ethereum blockchain isn’t simply an open ledger keeping track of ETH transactions. It is also an open platform that allows developers to create their own side chains or private chains and to run blockchain applications.

Most blockchain-based apps, including most of the apps in the fast-growing decentralized finance industry, run on Ethereum.

Moreover, Ethereum is home to the ERC-721 standard, which provides for the creation of nonfungible tokens. The explosive NFT market is largely based on Ethereum.

These factors motivate many investors to learn how to buy ETH.

Both DeFi apps and NFTs can be created on blockchains other than Ethereum, some of them offering advanced features that make them highly competitive. But the reality is that right now, Ethereum is the essential technology behind two huge and growing market segments. In 2021, Ethereum processed more transactions than the Bitcoin blockchain.

All of this has served to make Ethereum very appealing to forward-looking investors.

Where To Buy Ethereum

There are lots of places to buy cryptocurrency. Many old-fashioned platforms require buyers to install external wallets, secure hexadecimal cryptographic keys, and interact directly with blockchain technology. For most users, that’s not where to buy Ethereum. If you don’t have a computer science degree, the best way to buy and sell Ethereum is to create an account at an online cryptocurrency exchange like Kriptomat. These online services provide the current trading price for Ethereum and offer you a chance to make a purchase. When people ask where and how to buy Ethereum, this is the best answer.

Creating an account is more than selecting a user name and making up a password. Reputable exchanges will require you to verify your identity by providing a copy of your government-issued ID and perhaps other documents. These Know Your Customer regulations are legally required by sites and applications that comply with the anti-money laundering provisions of the EU’s GDPR.

Identity verification can be a long, complicated process that takes days or longer at some sites. At streamlined sites like Kriptomat, which operates throughout the EU and around the world, you can complete the simple process in minutes.

You start by providing your address and uploading a high-resolution photograph of your passport (or, in some countries, driving license). Finally Kriptomat guides you through creating and uploading a selfie – a photograph that matches the photo on your government ID. If all goes well, your identity will be verified within a few minutes.

How To Buy Ethereum

Once you’ve set up and verified your Kriptomat account, the next step is to transfer funds so you can buy Ethereum and other crypto. Common options include credit and debit cards, bank wire transfers, and cash-transfer services like Neteller and Skrill. Credit and debit cards are generally the safest and easiest, but reputable crypto exchanges offer multiple options.

Once your deposit has shown up in your account, you can make a purchase. Depending on the exchange, you might view the Ethereum page and press “Buy” or select “Buy” from a menu and choose Ethereum from a list of cryptocurrencies.

That’s all there is to it – you know how to buy ETH and you can consider yourself an expert at the fine art of buying crypto. The key decision is choosing where to buy Ethereum. Evaluate licenses, security procedures, investment tools, and customer support to find the platform that suits you best.

Ethereum sells for thousands of euros per coin, but you don’t need to purchase a whole ETH coin. Depending on the minimum purchase requirements at the exchange you use, you could purchase as little as 25 or 30 euros worth of Ethereum.

You don’t wind up with a physical coin. Instead, the Ethereum you’ve purchased is transferred to your electronic address on the blockchain network that serves as Ethereum’s technical foundation. You may one day choose to install cryptocurrency wallet software that lets you access the blockchain, but most users prefer to use a custodial exchange like Kriptomat that secures their cryptocurrency and handles complex blockchain transactions on their behalf.