If you are someone who takes a keen interest in cryptocurrency, you might’ve heard of Ethereum. It is basically known for its creative and effective way of creating and using different contracts and decentralized applications, also known as DApps.
The cryptocurrency used in this system is known as Ether (ETH.) Due to the use of Ether as transactions in various decentralized programs of Ethereum, many people are considering investing in this cryptocurrency giant. One of the most convenient ways to buy Ethereum is through eToro.
But how exactly? That’s precisely what this blog will shine a light upon. So, let’s begin with…
Why You Should Buy Ethereum?
The world is getting digitalized, and so is the currency people use. Purchasing Ethereum can be beneficial for you for a number of reasons. This currency not only has a high value in these times, investing in Ethereum can bring you benefits in the future also. No wonder why this currency is known as the second best after Bitcoin.
Here are a few things that can clarify why buying Ethereum can benefit you in both the present and the future.
Buying the cryptocurrency of Ethereum can help you diversify your investments. This currency is directly involved in various investment sectors like stocks, bonds, etc. It is far more than just cryptocurrency. Ethereum is basically an innovation that has the potential to create smart networks and decentralized applications.
These networks and applications are used in the development of many industries including medical and finance. This thing clearly demonstrates having Ethereum enables you to build projects that include the innovation and development of such technological revolutions.
Now that we have understood why it is beneficial to invest in Ethereum, let’s discuss how to buy Ethereum on eToro with different methods.
How to Buy Ethereum on eToro?
eToro is basically a platform that acts as a convenient means to buy Ethereum. Its user-friendly interface and diverse payment methods help investors buy Ethereum without facing any sort of inconvenience. We have simplified the steps you need to take for different methods of buying Ethereum on eToro that you can easily understand. Let’s discuss them one by one.
Method 1 – Buying Ethereum on eToro with Fiat Currency:
The first method of buying Ethereum on eToro is with the help of Fiat Currency. It’s a simple method, really. The reason? It’s the involvement of regular currency in it. By regular, we mean dollars, euros, etc. Here’s how to employ this method:
- The first thing that you have to do in this method is to sign up for an eToro account if you don’t have one already.
- The next step in this process is to put money in your eToro account. Since we are talking about regular money here, you can use your debit or credit card of your bank account to transfer money in eToro
- Once done, search for Ethereum on eToro. It is represented by “ETH”
- Now you have to open the trading page of Ethereum by clicking on it. On this page, place your order and give details about what amount of ETH you want to purchase.
- Make sure to review and verify your order details before you pay money
- Once you have purchased Ethereum, the cryptocurrency will be stored in your
Method 2 – Buying Ethereum on eToro with Cryptocurrency:
The second method of buying this cryptocurrency on eToro is by paying with another cryptocurrency such as Bitcoin. It is more like an exchange method. Let’s see how to do it.
- The first few steps are the same as explained in the first method. Sign up for an account on eToro and search for Ethereum cryptocurrency.
- Once you have opened the trading page of ETH, you will have to select the cryptocurrency you currently own.
- After selecting the currency, purchase your required amount of Ethereum.
- Carefully store your ETH cryptocurrency on your eToro wallet.
Method 3 – By Using the Copy Trading Feature of eToro:
This is more like a creative method of buying Ethereum while having minimum risk. Copy Trading is a creative feature that eToro provides for users who do not have much knowledge about the crypto world. In this method, you borrow, or copy, the method of a good trader and follow the exact same steps to achieve your goals. Here’s how to do it:
- First, you have to explore the traders who trade in Ethereum. This depends on the amount of investment you want to make and the profit goals. Make sure to put in some time while finding the trader whose method you want to copy.
- Now, select the “copy” option to start copying the traders’ method of investing in Ethereum. The payment money will be automatically deducted from your account.
- It is somewhat of an automatic process. Your investments in Ethereum will follow the same course as your selected trader. However, eToro provides you an option to stop copying the process whenever you want.
- Make sure to follow multiple traders’ methods of investing in Ethereum if you want to stay in the long run.
Conclusion:
Ethereum is considered to be one of the most promising cryptocurrencies of these days. It is the second most popular cryptocurrency after Bitcoin. The reason for its popularity is its diverse advantages. Due to these advantages, many investors want to buy this currency.
One of the most convenient platforms to buy Ethereum is through eToro. It is a user-friendly platform that provides you with different options that you can choose to buy Ethereum. In the information given above, we have provided clear instructions to assist the people who want to know how to buy Ethereum on eToro.
Read also: 9 Cryptocurrency Investment Strategies for Beginners
