Undoubtedly, Ethereum is one of the most well established and stable cryptocurrencies in existence. It is currently the second-largest coin with a market cap of almost 21 billion USD, currently processing up to 640K transactions per day. More and more people are getting involved each day due to the promising technology, a decentralized future. Also, large organizations ranging from Banks to investment firms are investing in Ethereum since 2015. Many of the retail investors coming in as first-timers are not familiar with the digital technologies so they find it hard to purchase Ethereum. Mainly due to the fact that they are not familiar with the sense of digital cash and of course since they don’t know where to buy Ether.
So you are interested in buying Ethereum but you don’t know how? You are familiar with Ether, how to buy it and how it works but you want to get familiar with the Kriptomat platform? Don’t worry, you are in the right place. My aim is to explain exactly how you can buy Ethereum with this simple step by step guide. All the possible paths will be explained in detail in this article and trust me, by the end of it you will be ready to buy ETH for the first time.
TABLE OF CONTENTS
Purchase Ethereum through an online exchange
There are many different ways to buy Ethereum online. You should always be really vigilant which platform you choose.
Make sure the exchange you use follows the 7 simple rules below:
- First things first, security. 2FA (two-factor authentication). Where there is money there are malicious actors. Find a platform that respects your funds and supports 2FA. Kriptomat had built-in 2FA. You can choose between Google two factor authentication and the casual one with the phone message.
- Transparency is a must. When you trust a third party to hold the money you earned with hard work, you want to make sure you know who is on the other side. This is a must. Kriptomat has listed all of the team members along with their resumes/ backgrounds through LinkedIn.
- Reliable and Fast support system. Even if you are a techie sometimes you just don’t know what you don’t know. Make sure the exchange has a responsive support and assistance team that can help you out when you need it.
- Fees and Limits. It’s crucial for you to know how much you are paying on fees and why. Never trust an exchange that hasn’t got a fee structure public. You can find Kriptomat’s fees explained here.
- Referral Link System. You are already kind of investing in crypto. Why not make some extra bucks just by getting friends to sign up with your referral link and invest these too!
- Open API. Kriptomat’s team provides an open API so that developers can interact with the platform and build based on it. If you are a developer you can automate trades, get live notifications and many more using our open API.
- Educational and Informational content. This is not a must but it’s really important for clients that are not familiar with every aspect of the crypto space. Kriptomat provides educational content on every cryptocoin traded on the platform. Also, the best part is that this content is written in such a way that everyone can understand it. It is useful both for complete beginners and experienced crypto enthusiasts.
Create an account on Kriptomat
This is a really simple procedure just make sure you follow the simple step by step guide below:
- Go to Kriptomat’s site. On the top right corner of the screen, you can see a register button, click on it.
- You will instantly be redirected to a simple form where you need to write down some typical information so that you can create your account.
- Input your real first and last name.
- Enter an email address that you actually use and you often check.
- Create a strong password. This is really important. Always use strong passphrases. Take your time. Write it down. Memorize it if you need to.
- Solve the Captcha to confirm that you are not a robot.
- Click on the Create account button.
- You will now receive an email from us to the email address you just submitted. A confirmation link will be included, click on it so that we know this is actually your email. This is a typical procedure.
- You will get redirected to a new page. Hold on, we are really close to the end! Enter and verify your phone number. As you can already tell by now we take security very seriously. Customer service is our main priority.
- Click next. A six-digit code is now sent to your phone via SMS. Find it and enter the code so that we are sure the phone number is yours.
- The identity verification is the last step before using the platform. This is really important for transparency and safety. We require an image of a personal document (Kriptomat accepts an ID card and a Passport from the list of supported countries) and a “selfie” where you hold the selected personal document in your hand.
This is it! You are all set! Last but not least, keep in mind that you can use the platform translated in any of the 21 different languages we support. In case you get stuck in any part of this procedure you can check out our video guide on opening an account here.
How to Buy Ethereum with credit card
- Go to the “Buy/Sell” section and select Ethereum (ETH) in the list of cryptocurrencies.
- Select the credit card payment method. You can enter the euro amount you want to spend or the ETH amount that you want to buy. Then click the Buy button.
- Confirm the transaction and enter your credit card information. When you are sure that all the information is correct, click the purchase button. Follow the simple confirmation procedure, enter the requested information for the payment (eg. card number) and you are done within seconds. You now own ETH! Check your balance!
If you need more clarification, check out our general video tutorial on how to buy cryptocurrencies with a credit card on Kriptomat here.
How to buy Ethereum via bank transfer
- Sign in to your personal Kriptomat account. Navigate to the “Buy / Sell” section.
- In the list of cryptocurrencies, select Ethereum (ETH).
- Choose Euro as your payment method and right after that fill in the amount you want to provide on your purchase.
- Click on Buy.
- In the page where you got redirected you can review your transaction to make sure everything in fine and then complete the verification.
- You are now officially an Ethereum holder. Check out your wallet! Your ETH coins are in there!
If you get stuck along the process or if you need more clarification, then check out our general video tutorial on how to buy cryptocurrencies via bank transfer on Kriptomat here. You can also find out how to add additional bank account to your Kriptomat account here. If you still have questions you are always more than welcome to ask for help from our support team.
Buy Ethereum via Paypal
Where there is money there are always malicious actors involved. More and more individual but also large-scale password breaches are happening every day. Sophisticated technology is helping cybercriminals abuse a bad habit people have, short and predictable passwords.
This is why new security systems are built nowadays. Two-factor authentication is one of the most popular ones due to the fact that it’s really simple, yet extremely efficient. 2FA strengthens your login security simply by requiring a second piece of information. Think of it as a second password. Most of the times this second piece of data is a temporary code, delivered to a divide of your possessions such as your phone. This additional security layer had been proven to be one of the most efficient ones so far and is used globally by most of the large online platforms.
We provide 2FA by default. As you have probably already understood by now, security is one of our biggest priorities. We take your security extremely seriously, as any platform handling your funds should. Anyone using our exchange has to use the SMS verification system, which is mandatory. It’s really simple and most of our users enjoy reliability.
How to enable Google Authenticator
When you log into a site supporting Google Authenticator or third party applications that support it such as password managers, the google app generates a six to eight-digit one-time password which you need to enter, in addition to your usual login info. You can use the Google Authenticator app to receive codes even if you don’t have an Internet connection or mobile service. In the app, you’ll have a constantly updating 2FA code that you can use without having it texted to you. When you want to sign in just enter the code. So simple yet so secure.
- Sign in to your personal account and navigate to the Settings section.
- Click on the Security tab.
- If you scroll down you will notice that the default 2FA is set to SMS verification as noted above. In this case, since we want to change this, click on Enable Google Authenticator.
- Install the Google Authenticator app. It is available both for Android and iOS devices.
- You will receive a QR code and a verification key.
- Now open the Google Authenticator app and click the “PLUS” button to add your Kriptomat profile.
- Simply scan the QR code that is displayed on Kriptomat. Instead of scanning, you can also manually enter the verification key that was displayed on Kriptomat. After you do so, the Google Authenticator app and your Kriptomat account will be linked.
- Enter the verification key and your password to log in to Kriptomat. Right after that fill in the six-digit code generated by the Google Authenticator app.
- Click the Enable button.
Congratulations, you have made an important step towards improving the security of your account!
Where to store your ETH
Cryptocurrency Software Wallet
In order to store your coins, you need to use a cryptocurrency wallet. A cryptocurrency wallet is practically a software program used to hold your funds. Most of the well known and established coins right now have an official wallet built by the coin’s team. Crypto wallets are secure digital wallets where you store your cryptocurrency. Also, you can receive and send cryptocoins between different wallets.
Most of the wallets nowadays can store more than one cryptocurrency although there are still some that are built specifically for one coin. No matter what you choose to use every wallet has two key features. A public key or public address, which you can share with other people so that they can send you funds. You can think of this as you IBAN number.
The second feature is your private key. This is a secret code that you should never under any circumstances share with somebody else. Anyone with access to your private key gains complete control over your funds in your wallet. Think of the private key as your bank account password. It is used for proving an address is owned by you.
A wallet is essentially like your online bank account, and your address is like your IBAN. The blockchain is like the bank’s ledger, and your private key is like your account password. Read more about crypto wallets here.
Some well-known wallets that support ETH are:
- Jaxx (Android, iOS)
- Atomic (Desktop and Mobile)
- Exodus (Desktop and Mobile)
- Coinomi (Mobile)
- Mist (Desktop)
- MetaMask (Desktop-Browser add-on)
- MyEtherWaller (Web Wallet)
Cryptocurrency Hardware Wallet
A hardware wallet is a special, probably the most secure, type of cryptocurrency wallet which stores the user’s private keys in a secure hardware device. Think of it as an Ether card, but it’s not a card it’s much more like a USB.
They have major advantages over standard software wallets:
- Immune to computer viruses. You can connect the device with an infected computer and you are still safe
- Can be used securely and interactively, private keys never need to touch potentially-vulnerable software by design.
- Most of the time, the software is open source, allowing a user to validate the entire operation of the device. So the community can decide if a device is safe or not.
- Private keys are often stored in a protected area its hardware, and cannot be transferred out of the device in plaintext.
Some of the best hardware wallets out there:
Buying Ethereum: Conclusion
I hope that this article helped you figure out how to buy Ethers and how to store it. Questions such as “what’s the best place to buy Ethereum?”, “what’s Ether how to buy it”,“ can I buy Ethereum with debit card?”, “how do I buy Ethereum online”, “are Ethereum banks and Ethereum cards a thing?”, “how can i buy Ethereum with a credit card of any type in general”, “can i buy Ethereum instantly?” were answered above. By now you know that Ether bank is not a thing, that you can buy Ether instantly, that you can buy Ether with credit card and that Kriptomat is a good place to do that! Make sure to share this with friends in case they are confused and they want to purchase Ethereum as well!
For the sake of safety, simplicity, speed, and accessibility we recommend Kriptomat. It is a licensed and regulated service, and we are always available for assistance in your language.
Ethereum is maybe the only cryptocurrency that has such a large base of scientists and programmers working on it daily in order to make it scalable and ready for global usage. It skyrocketed to it’s all time high, 1.100€, from 190€ in one year without any great changes in its fundamentals because people saw the potential. The thing is that this time a lot of work has been done and the ecosystem is getting more and more stable and scalable. Will you be a part of it?
“Six and a half billion people on this planet have no connection to the world of money. They operate in cash-based societies with very little access to international resources. They don’t need banks.”
― Andreas M. Antonopoulos, The Internet of Money
In case, you want to dive deeper into the magnificent technology of ETH and really understand how Ether works you can check out our technical article written for beginners here: how Ethereum works article.
Leave your thoughts and questions in the comments, and we will be happy to respond as soon as possible! We would also be glad to provide extra clarifications on how to get Ethereums, in our platform, if needed!