How to Buy Ethereum and Place a Bet – Beginner’s Guide
This article, “Bookmaker Ratings” tells how to buy Ethereum cryptocurrency. You will learn what you need to buy Ethereum, what methods of acquiring crypto are currently available, which wallets are best for storing Ethereum, the procedure for placing bets, and other interesting nuances.
At the moment, among the ways to purchase Ethereum cryptocurrency, the following should be highlighted:
- crypto exchangers,
- P2P trading.
The first method is the most convenient – on major exchanges; you can buy ether directly from a bank card in Euros or dollars and other currencies. At the same time, the services charge a commission from the players. Crypto exchangers are also a fairly reliable way to buy, but, in this case, the asset rate will be lower, which will not be very profitable with large volumes of purchases. P2P trading can be carried out on exchanges, exchangers, and OTC markets. In this case, the seller will set the conditions of purchase.
How to Buy Ethereum From the Exchange?
To purchase Ethereum on the exchange, you need the following (take Binance as an example):
Step 1: Go to the exchange website and register.
Step 2: Verify your account using your personal information. Without verification, you will not be able to use most of the functions of the service.
Step 3: Log in to the system and click the “Buy Cryptocurrency” button.
Step 4: Select the desired method (for example, “Credit/Debit Card”).
Step 5: Select the currency ETH, enter the purchase amount in rubles, and then click “Continue”.
Step 6: All that remains is to confirm the purchase.
Afterward, the ether will be credited to your account on the exchange!
Ways to Store Ethereum
You can store Ethereum cryptocurrency in different ways; the following are the most popular
- exchange wallet,
- cold wallet (hardware, paper),
- browser wallet.
The first example is not the most reliable – there have been situations when exchanges were hacked, after which funds were debited from some accounts. Even for the largest exchanges, this method does not have a high degree of reliability.
The browser wallet is a little more reliable – it is protected by a seed phrase, which is far from easy to hack, and you can additionally set up two-factor authentication.
The most reliable way is the storage on a cold wallet. The ideal option is a cold wallet: a PC that has never been connected to the Internet and has no access to it. You can also use a hardware wallet – something like a flash drive protected by several systems at once. It is convenient to carry around, and the risk of hacking is far from the highest.
How to Download and Install Metamask?
Browser crypto wallets have recently become more popular – storing large amounts on them is not convenient. One of the most popular wallets is Metamask. To download it, you need to go to the official website, which is located at metamask.io. Then you will need to click the Download button and click on the version of the browser you are using.
After downloading, click on the file and wait for the installation to complete. The browser toolbar will appear as an extension icon (red fox). When you click on it, the wallet will open; after turning off and restarting your PC / laptop, you will need to enter a password to access it.
How to Transfer Funds to a Wallet?
To transfer ETH to Metamask, you need:
Step 1: Go to the exchange, log in to the system and open the list of assets.
Step 2: Go to the “Fiat and Spot” section, find Ethereum and click “Withdraw”.
Step 3: Copy the Metamask wallet address and paste it into the open window. The network will be selected automatically.
Step 4: Enter the transfer amount, confirm the operation and wait for the funds to be credited within a few minutes. Please note: exchanges charge a commission for transfers, which is calculated individually and depending on the transfer amount.
Nowadays, there are many sportsbooks that accept Ethereum. How to find these sportsbooks? We have already done that. We have compiled all TOP online bookmakers that accept ETH. Go to our “10 Best Ethereum Sportsbooks & Crypto Betting Sites 2022” to learn more.
The Ethereum cryptocurrency is very popular at this time and is used in many areas, including sports betting: there are gradually more and more bookmakers accepting ETH.
Buying ether is available on exchanges, exchangers, and via P2P trading. You can store Ethereum on cold, hardware, browser wallets, and exchanges. It is impossible to replenish your Ethereum account in all bookmakers; after making a deposit, you will be able to bet on these funds, equivalent to the currency chosen during registration.
Is it possible to buy Ethereum in parts?
Ethereum is a rather expensive token, so in different ways, users can purchase not one Ethereum unit but a part of it: for example, 0.2, 0.05, etc.
Where can I buy ether?
Cryptocurrency can be purchased on the exchange through P2P trading and through exchangers.
What is the safest way to buy Ethereum?
It is safest to purchase ether through the exchange and verified P2P exchange sites.
What is the best way to store ether?
It would be ideal for storing Ethereum in a cold or hardware wallet. The average degree of reliability can be found in browser wallets – for example, Metamask, Trust Wallet, etc.
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