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How to buy Ethereum without sky-high gas fees
Note: This is not investment advice. This is for educational purposes only. Please note that cryptocurrency is a highly volatile asset class.
“How to buy Ethereum” is a query that’s shaking up the Google search engine. Ethereum is the most popular network for non-fungible tokens (NFTs), so naturally, many people are impressed by its utility and likely want to hold a stake in its potential for continued success.
However, it’s important to note that Ethereum has its disadvantages. While the blockchain is applauded for its security and verification protocols, it’s having trouble with scaling. As such, the Ethereum blockchain is often slow with processing transactions. Another downside is its expensive fees known as gas. There are other competing blockchains that aim to take Ethereum’s crown (e.g. Solana).
Ethereum is the most popular coin in the world next to Bitcoin. It’s also widely accepted and acknowledged by big tech players in the industry. That being said, due to its recognition and reputation, it’s easy to buy Ethereum on almost every exchange. Our recommendation is Coinbase Pro (not Coinbase). Compared to regular Coinbase, Coinbase Pro has less fees (and yes, it’s free!).
How to fund your Coinbase Pro account before buying Ethereum
1. Log into your Coinbase Pro account.
2. Go to “Portfolios” and click on “Deposit” (located at the top-right corner).How to buy Ethereum2. Click on the currency you’d like to use to exchange for ETH (in this case, it’s USD).How to buy Ethereum3. Select how you’d like to fund your Coinbase Pro account. There are two main options: Bank Account and Wire Transfer (there’s a $10 fee for wire transfers plus whatever your bank charges). For this tutorial, we’ll be clicking on “Bank Account.”How to buy Ethereum4. Input how much Ethereum you’d like to buy and click on “Withdraw.”How to buy EthereumHow to buy Ethereum
1. Click on “Trade” and click “Select Market.” Click on “ETH-USD.” How to buy Ethereum2. Make sure the “Buy” button is selected under “Order Form.”
3. Input how much Ethereum you’d like to buy in the “Amount” field.
4. Click on “Place Buy Order.”How to buy EthereumVoila! You’ve made your first ETH purchase.
Keep in mind that cryptocurrency is an extremely volatile asset class. Please exercise sufficient risk management. As with any investment, only invest what you can afford to lose.
Kimberly Gedeon, holding a Master’s degree in International Journalism, launched her career as a journalist for MadameNoire’s business beat in 2013. She loved translating stuffy stories about the economy, personal finance and investing into digestible, easy-to-understand, entertaining stories for young women of color. During her time on the business beat, she discovered her passion for tech as she dove into articles about tech entrepreneurship, the Consumer Electronics Show (CES) and the latest tablets. After eight years of freelancing, dabbling in a myriad of beats, she’s finally found a home at Laptop Mag that accepts her as the crypto-addicted, virtual reality-loving, investing-focused, tech-fascinated nerd she is. Woot!
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