After Bitcoin, Ethereum has the biggest hold on the crypto market.
Nearly 4 million people own Ethereum around the world, and the number continues to increase. If you are wondering about buying Ethereum, you have come to the right place.
There are many ways to buy Ethereum in 2022, but some are preferable to others.
When buying Ethereum, the first thing that you should take care of is security. You do not want to deal with any platform or medium that you do not trust 100%.
In this article, we will look at much more than the best places to buy Ethereum in 2022. We will also go through why Ethereum should be in your portfolio and how you can benefit from it.
At the same time, it is important to understand that not everyone has the same financial situation or goal, and the decision to buy or not buy Ethereum would also depend on it.
There’s no shortage of options when it comes to buying Ethereum. Part of the problem is indeed the confusion. With so many avenues to choose from, you can easily get confused. Let’s do away with all such confusion without further ado.
Disclaimer: We want to emphasize that this is not financial advice. Cryptocurrencies operate in a volatile market, where values can drastically fluctuate in a blink of an eye. It is imperative to conduct thorough research and seek guidance from a qualified financial advisor before investing.
Why You Should Buy Ethereum
Many people argue that Bitcoin is the first cryptocurrency that anyone getting into the market should buy.
However, another group of people believes that you should instead start with Ethereum. Even if you stick to the former school of thought, you would still want to add Ethereum to your portfolio after some time.
After Bitcoin, Ethereum is the most sought-after cryptocurrency. However, the growth of Ethereum in recent times has been more than that of Bitcoin.
While many sections have claimed that Ethereum will surpass Bitcoin at some point in the future, Bitcoin purists disagree. What nobody disagrees with is the potential of Ethereum. The ERC-721 standard has given a fresh breath of life to Ethereum.
The entire NFT movement is dependent on the ERC-721 standard, and much of the Web 3 aspirations rely on Ethereum’s blockchain.
If you decide to buy Ethereum in 2022, you are doing it for the long run. With the scheduled launch of Ethereum 2.0, there might be a resurgence in interest for Ethereum.
As we all know, the crypto market has not been very exciting for the past 6 months. We are in what many call a crypto winter at the moment. If you are buying any cryptocurrency now, you should be ready for some loss in the short run. But several factors suggest that the price of Ethereum will grow immensely in the future.
Now, let’s discuss more buying Ethereum and the things you should keep in mind while doing so.
Where to Buy Ethereum in 2022
There are various ways to buy Ethereum in 2022.
For example, you can get Ethereum from someone else who owns it, that is, they can directly send it to your wallet. You can go on any of the top cryptocurrency exchanges to buy Ethereum.
You can also use platforms like Robinhood to buy and hold Ethereum and other cryptocurrencies. In short, there is more than one way to buy Ethereum or any other cryptocurrency in 2022.
However, when you ask experts about the preferred mode of buying crypto, they would always point to the exchanges. There are several reasons behind it. Here are some of them!
Crypto exchanges are convenient
Let’s take Moonpay for example. If you want to buy Ethereum on Moonpay, you wouldn’t have to do anything more than make a few clicks. You can buy Ethereum the same way you would buy something off Amazon. You can use your credit or debit card and simply purchase Ethereum whenever you want.
No other method offers this level of convenience when it comes to buying crypto. The convenience of buying Ethereum from cryptocurrency exchanges is one of the many reasons they are the go-to option for most people.
Crypto exchanges offer a lot of choices
Even if you start your crypto journey with Ethereum, it is very unlikely that you would only invest in Ethereum for the rest of your journey.
Every expert knows that the key to success in crypto is a diversified portfolio. You must have some leading coins like Bitcoin, Ethereum, Solana, etc., along with a range of smaller tokens and even meme tokens. With a cryptocurrency exchange, you can do it all from the same place. It makes the entire process much more convenient than even traditional investment assets.
Crypto exchanges are secure
Note - not all exchanges are equally safe. That being said, crypto exchanges are largely secure and safe, especially when you compare them with peer-to-peer transactions. Top exchanges like Binance and Crypto.com also have insurance against unforeseen cyberattacks, giving investors even more security.
Crypto exchanges let you buy cryptocurrencies without worrying about a lot of things. Some exchanges allow you to store your coins in a third-party wallet. However, some exchanges may not offer this facility. It is always better to store your coins in a third-party wallet, so look for exchanges that have this feature.
Choose from multiple exchanges
Not everyone would have the same experience on any particular cryptocurrency exchange. For example, some may like the experience of Binance while others may hate it. That’s what makes exchanges even more appealing.
If you do not like the user experience of Binance, you can always shift to Moonpay. You can choose from any of the top cryptocurrency exchanges and essentially get the same features but packed differently. It is one of the major reasons more and more people are leaning towards crypto exchanges. The number of options you get is unparalleled.
Things to be Careful About When Buying Ethereum
People have made a lot of money in crypto, and people have also lost a lot of money. We are not talking about the natural losses that come as a part of investing. People have lost a lot of money to scams and frauds.
One of the main ways to scam someone is to promise them Ethereum (or any other cryptocurrency) at a very low rate. However, these are almost always scams. You should not get into peer-to-peer transactions even if you think the person on the other end is genuine. It is a recipe for disaster unless you personally know the other person.
If you are thinking that peer-to-peer transactions are the only place where you can be scammed, you are wrong. There are thousands of ways to be scammed or fall for traps. Surprisingly, cryptocurrency exchanges are one of them.
One simple yet common technique is called spoofing. A spoof website would look exactly like the original website. Sometimes there might be no difference except in the URL. If you are not careful, you will enter sensitive information on such websites. Before you even know it, you would have lost a lot of your money.
It is always better to not access cryptocurrency exchanges through any third-party links. Only use the official website and search for it from Google. Doing something else can land you into deep trouble. It is one of the many ways you can be scammed while trying to buy Ethereum.
Do not believe every crypto influencer
First, it is important to clarify that not all crypto influencers have malicious intentions. Some work very hard to educate and teach their followers and also teach them about scams and frauds. At the same time, some crypto influencers are out there to make a lot of money at your expense.
The problem is particularly acute if you get into crypto trading.
Many influencers will give alerts and signals indicating when to sell and buy cryptocurrencies. In a lot of cases, these signals are downright misleading. You may even be persuaded by the aura and confidence of such influencers, but the ultimate loss would be yours.
Before you decide to follow someone and their advice, make sure you do a thorough background check. If there’s anything fishy, you will easily find it off the internet.
No one can predict when the next Ethereum rally will happen. At the same time, no one can say when the price will fall even further down.
As you can see, there is no right or wrong time to buy Ethereum or any other crypto. The trick is to be consistent and invest some amount at regular intervals. If you have little experience in the market, it can be impossible to time it.
More importantly, timing the market can be counterproductive in many instances. Instead, choose an investment method that focuses on consistency and discipline. That way, your chances of making a profit are significantly higher in the long run.
The aim of this article is to acquaint you with the fundamentals of buying Ethereum and the cryptocurrency itself.
Equipped with this knowledge and information, you would be much better equipped to wade through the questions and doubts that you may have while choosing the best places to buy Ethereum.