Ethereum is a decentralized computing platform, similar to the Bitcoin blockchain, with its own cryptocurrency called Ether – often the cryptocurrency is also referred to as Ethereum. Ether is not issued by banks or governments; instead, the entire Ethereum network is controlled by its users. It has gained major popularity in recent years, becoming the world’s second digital currency that is rivalling Bitcoin. But what makes investors quit on Bitcoin and buy Ethereum instead?
Why you should buy Ethereum?
Buying Ethereum is a great investment. In just 2 years Ether has become the world’s second biggest cryptocurrency. It has had a steady and reliable growth and would be considered a relatively safe investment, based on its performance over the past years. Although it did have a slight dip around Christmas 2017, it has made a good recovery.
Ethereum consists of a highly complex and secure blockchain which validates transactions with ultimate accuracy. Unlike other brand new cryptocurrencies, Ethereum has established itself using sound validation methods and has come to be trusted in the world of digital currencies. To add to their credibility, Ethereum is backed by Fortune 500 companies including J.P. Morgan and Microsoft.
Ethereum also has thousands of applications: you can use it for a variety of things. Primarily, you can make online purchases using it, all you need is a compatible e-wallet and you’re ready to start making online purchases using your Ethereum. Ethereum also lends itself to work with banks rather than against them and has even gained interest from Bank of America that aims at creating an Ethereum-based app to assist its customers.
More on CEX.IO
CEX.IO is a worldwide cryptocurrency exchange. Like any of that kind, CEX.IO offers instant trading of Bitcoin and all the most popular Altcoins. One of the differences, however, is that this platform has had the MSB (Money Services Business) status in FinCEN for two years already and is PCI DSS compliant, meaning that it is allowed to accept credit and debit cards in most countries, including the USA.
The platform, itself, is mostly intended for novice users, because it provides one of the easiest and fastest ways to buy cryptocurrency, especially if you’re performing it through the Buy/Sell section. But be sure to know that fees are a bit higher in that section, rather than if you trade directly. In this article, you will see the step-by-step guide on purchasing Ethereum through the Buy/Sell. Still, there’s one more thing for you to know:although CEX.IO is a worldwide exchange, there are several countries and American states where it doesn’t operate. Be sure to check it before registering.
Step-by-Step Guide to Purchasing Ethereum on CEX.IO
1. Register with CEX.IO
Registering at CEX.IO couldn’t be easier, simply go onto the site and create an account either using your email address and password or choosing an option to log in via your Facebook or Google account. CEX.IO has been in the business long enough to be a trustworthy brand, so you can rest assured that your data are safe and secure with them. There are a few different account types you can choose from:
- The Basic account is the simplest one that still allows you to buy Ethereum, but you have fewer options and more limits.
- The Verified account requires you to officially verify your identity, but it grants you access to all payment methods.
- The Verified Plus account gives you unrivalled support from CEX.IO as well as extends your limits.
- The Corporate account is a good choice for people with businesses of their own that want to incorporate cryptocurrencies.
Once you have an account, you’ll have access to the Buy/Sell tab. Here you can choose a bundle of Ether to buy or sell or customize your own desired amount. If you have settled with the Basic account you may experience limits as to how much you can buy and sell. The next step is to either go through with the payment or withdrawal, depending on whether you’ve decided to buy or sell.
3. Make a Payment
At CEX.IO you have the options of paying with Visa, MasterCard and doing a bank transfer. If you opt for the option to pay with Visa or MasterCard, the payment takes place in a similar way to any online purchase – you enter a CVV code and card number, and once the card is verified the payment will go through and you’ll receive your Ether. To make transactions, you need to link a card to the site by simply giving the correct card information and proving that you are the legal owner of the card. You can also make withdrawals using the linked card, and there is the option to link multiple cards to your account.
4. Getting Verified to Upgrade an Account
If you want to make use of the Verified account, you’ll need to get verified. Luckily, it is a simple process. All you need to do is send a few documents and identification proofs.
5. Gain Access to Your Account via the mobile App
CEX.IO has a mobile app that is compatible with both Android and Apple devices. It’s an easy way to quickly log in to your account and see how your Ethereum is doing or easily purchase more if you wish to.
Buy Ethereum at CEX.IO in just a few simple steps and join in on a global movement in digital currency. Both buying Ethereum as well as managing your account on CEX.IO is simple and straightforward, making it a pleasure to check on your Ethereum funds.