Many people want to invest in Ethereum but don’t know how to buy Ethereum online. During this step, we will walk you through the registration process and explain how to buy Ethereum on Binance. No need to worry; it’s straightforward.
What is Ethereum and How to use Ethereum?
Ethereum is a decentralized platform that allows you to execute smart contracts. It is a blockchain-based distributed computing platform that focuses on running the programming code of any decentralized application.
Participants nodes in Ethereum are compensated in ether, a digital currency, for completing computations.
The Ethereum blockchain is a shared public ledger that records verifiable transactions, unlike so-called public blockchains like Bitcoin, where records are only as endless as the longest chain.
Ethereum was proposed by Vitalik Buterin, a cryptocurrency researcher and programmer born in Russia and raised in Canada. He first described Ethereum in 2013, then developed it with a team of programmers. It took three years to build the Ethereum platform before its release in July 2015.
Read more: What is Ethereum?
Why You Should Buy Ethereum in 2021
Ethereum runs smart contracts on a decentralized network. It has two token types, the native token called “ether,” which is used to pay for computation, and the other is called “gas,” which is used to pay for every transaction on this platform.
There are three key reasons why you should buy Ethereum in 2021:
Ethereum’s technology will make it safer, more stable, and more scalable than any blockchain network.
The Ethereum ecosystem will continue to grow as it attracts developers and entrepreneurs to build decentralized applications on top of its blockchain network.
Ethereum’s design and existing functionality make it a desirable target for hackers who want to exploit the weaknesses of other cryptocurrencies like Bitcoin or Altcoins.
How to Buy Ethereum on Binance?
It sounds like a weird way to start, but it’s the best way to start investing in Ethereum.
Investing in cryptocurrencies is not something that you would usually do. It has many risks since it is still a new system, and many things can go wrong. That’s why you need to be careful when you are doing this.
One of the most common ways to buy Ethereum is buying Bitcoin first and then exchanging those Bitcoins for Ethereum.
But you can also buy Ethereum on Binance with a credit card.
This article will walk you through the process of buying Ethereum on Binance. This guide is primarily focused on the new cryptocurrency investor but can be used by experienced traders.
How to create an Account on Binance
The first step to buying Ethereum is to create an account on Binance. To do this, you will need to click the “Register” button at the top of the homepage and fill in your information following their registration form.
A new window will open with a confirmation message that your account has been created and that you should be able to log in now.
After that, log in to your account and go through the process of setting up two-factor authentication for security purposes. Two-factor authentication is an essential step if you want to ensure that your funds are secure against unauthorized access.
Now that everything is set up and ready, it’s time to buy some Ethereum!
Safety Precautions You Must Take Before Buying Ethereum
There are many safety precautions you must take before buying Ethereum, or any other cryptocurrency for that matter.
The first step to starting your crypto portfolio is to set up two-factor authentication on your account. This will keep your account secure and limit unauthorized access.
The second step is to make sure you have a new password for your account that is easy to remember but hard to guess. These passwords should be long and include both letters and numbers in different orders.
Finally, you should verify your phone number with the exchange so they can contact you when needed.