Cryptocurrency is a new investment avenue for people. However, many people are not aware of different ways to invest in cryptocurrencies online. The news of crypto exchanges hacking or 51% attack instils fears in people when trading online. However, this is only one side of the coin, and there are huge benefits when you buy ETH online. Here is the list.
Cryptocurrencies are digital assets, and it is easy to buy ETH online. Several fiat-crypto exchanges allow you to buy and sell crypto assets using traditional currencies. Most exchanges accept US dollars, Euros, Yen, Yuan, and Pounds to buy ETH. As per the latest data, you can buy one Ether for $1,741.82 or less. Ether’s price keeps changing, and you need to make timely decisions to book your trade at crypto exchanges.
Crypto exchanges charge a small fee for every ETH transaction. When you buy Ethereum, Bitcoin, or any other coin, you must pay 0.75% fees. When you sell Ethereum, Bitcoin, or any other crypto asset, you pay 0.5% fees. Thus you can see when you buy ETH online, you are paying the lowest fees while the earning potential is enormous in the future.
Highest Level of Security
When you buy cryptocurrencies online, you can keep them safely in a wallet until you want to exchange them for tokens of other crypto assets. Leading platforms employ advanced security technologies to keep your crypto investment safe.
- Two-factor authentication– Today, cracking passwords have become relatively easy. Hence, crypto exchanges use two-factor authentication for their digital wallets. In two-factor authentication, typing the right password is not enough. The crypto platform sends you a code on your mobile number or registered mail that needs to be entered to access your digital wallet.
- Cold storage – Hackers are known to rob crypto assets that are available online. To counter this, crypto exchanges store 90% of crypto exchanges in cold storage (offline). It reduces the chances of hackers getting access to crypto-assets and steals them from your account.
- Notifications– for every login attempt, the cryptocurrency platform sends an email notification. These notifications keep you updated about the activity related to your digital wallet.
Cryptocurrency exchanges employ a verification process to ensure legit transactions. The verification process involves 2-3 steps. In the first step, you need to enter your legal name and other details. The second step involves showing your ID captured by the camera or uploading an image of the ID.
If your ID is legit and entered the correct details, it will not take more than a few minutes to complete the verification process. After instant verification, you can trade crypto assets.
Buy ETH in Three Easy Steps
If you thought buying ETH is difficult, get ready for a pleasant surprise. Leading crypto trading platforms allows you to buy ETH in three easy steps. The first step involves registering or creating an account on the crypto trading platform. The second steps involve verifying your identity. The third steps involve depositing CAD (Canadian dollars) in your account. After your CAD has been deposited successfully, you can go ahead and buy Ethereum online.
In a traditional banking system, the 3rdparty has ownership of your funds. If you fail to comply with the rules and regulations laid by the financial organization, they have the power to close your account, which will also stall your access to funds.
When you buy crypto coins online, you get individual ownership of your digital assets. Unless you have employed a 3rd party service to manage your digital wallet, you are the sole owner of public and private encryption keys of your ETH assets. No one knows your cryptocurrency network address or identity.
When you use traditional banking systems, every transaction is recorded, and it becomes a reference document for the bank. The reference documents allow them to keep a tab on your financial activities. It is not the case when you buy crypto assets online.
In crypto transactions, every transaction is unique and conducted between two parties in which the conditions can be negotiated and agreed upon by both parties. The exchange of information in crypto assets exchange is done on a “push basis.” In other words, you have full control over which information needs to be transmitted to the other party. It reduces the risk of account or identity theft that is common in the traditional banking system.
According to experts, Ethereum has explosive growth potential, and by 2030, ETH may surpass the price level of $100,000. It makes ETH an excellent investment vehicle.