Ethereum is among the top 10 digital currencies on the cryptocurrency market, according to market cap. As of April 2019, the market price of Ethereum was $152 per unit. With Ethereum blockchain network driving developments in the Crypto industry, majority of the investors see Ethereum as more promising than Bitcoin, and the reason why we will talk about Investing In Ethereum.
The different financial institutions, including the Fortune 500 companies are making use of Ethereum to run their payment networks. If this is your first time in the crypto world, and you are interested in investing in Ethereum, this guide was curated with you in mind.
This guide will give you a heads-up and help you understanding the process of investing in Ethereum. Before we go too far, let’s quickly define what Ethereum is.
Ethereum is a virtual currency in the cryptocurrency market, and it was created by Vitalik Buterin in 2013 but went live in July 2015. Before the emergence of Ethereum, developers were on the lookout for digital currencies that would stand at par with Bitcoin. With ETH, developers can now create decentralized apps that are not controlled by the government or any single individual.
The following are some advantages of ETH technology:
Investing in Ethereum doesn't have to be difficult. As with Bitcoin investment, the process is virtually the same. It would be best if you had the following in place before you can trade Ethereum:
You can proceed with the following step-by-step guide to invest in Ethereum, provided you have the above handy:
The first step to trading Ethereum is to identify a trading platform. There are lots of trading platforms right now offering Ethereum Investing services. Some factors to keep in mind while identifying an online trading platform are regulations, ease of making deposit/withdrawal, trading platforms, and responsive customer support. Other factors to consider are trading Instruments, availability of tradeable instruments, and much more.
Once you have successfully set up a trading account, the next step is to deposit some money into your trading account. Please note that each account type has a minimum balance that each trader should maintain. If you have $100 or $50 to start trading Ethereum, deposit the same to fund your account.
Everything is now set for you to start trading Ethereum. Every exchange has what is known as a trading interface, so be sure to master the trading interface of the exchange you choose. Importantly, always review your transaction before opening a trade position.
After buying ETH, you can withdraw it into a digital wallet for your control. There are different digital wallets for digital currencies. So, do your research to determine the type of wallet that would suit your trade preferences.
We have one simple agenda on the crypto ecosystem – to provide a user-friendly platform where newbies and experienced traders can access different cryptocurrencies. We are also bent on simplifying the Ethereum investment process so that you can diversify your investment portfolio without lifting a finger.
Some of the reasons why our traders prefer us over other online brokers are:
Investing in Ethereum on the T1Markets platform is very simple and straightforward. Here is how to go about it:
Compared to other cryptocurrencies on the blockchain, Ethereum is very popular due to the market cap. Ethereum is one of the largest blockchain technology right now. And despite the fluctuations in the price of Ethereum, it remains one of the preferred options by many.
As with other investment options, investing in Ethereum can be useful if you know how to trade the market and follow market directions. While, there are other ways to earn it, which can be via faucets, staking, and mining.
Unlike stocks, commodities, gold, and indices, one advantage of trading Ethereum is the low amount required to start trading. Investing in Ethereum doesn't require thousands of dollars - In fact, you can start trading with as low as $250.
Investing in Ethereum can work with the right knowledge, skills, and trading tools. However, as with any investment, Bitcoin investment, or investing in Ethereum also has its own risks. You need to work-out your risk tolerance and put in place measures to help you mitigate risks so that you don't lose your trading capital.
We advise that you start trading with a demo account before switching to a live account. There are so many benefits of trading with a demo account, some of which include building up your trading skills, becoming more confident to risk your capital, and learning how to use technical indicators, among others. Using a demo account also guarantees that you won't lose your trading capital to market forces.
At T1Markets, we have a range of trading tools to support our traders. Whether you want to invest in Ethereum as a day trader or you prefer being a Scalper, it is easier through our platform.
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