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Binance is among the top-notch trading platforms in the world.
Therefore, the first thing you should to do if you wish to begin trading on it is to figure out how to buy Ethereum (ETH).
So, in this post we’ll give you all the information you need to trade with Ethereum (ETH) on the Binance cryptocurrency platform.
To be able to buy Ethereum (ETH) on Binance, what you must know is certainly how to subscribe.
Quick and easy registration: just follow the guidelines below.
Search for the "Register" option in the Binance main page and click on it to begin the registration process.
Access directly to Binance by clicking here.
In the Binance main page you’ll find a button named "Register with a phone or email". Press it.
This can also be done with any Apple mobile.
In this post, we’ll will explain how to do this with an e-mail.
The Binance platform will immediately send an activation keycode (NB: this is NOT your password) that you’ll type it in the corresponding line, then press "Send"
You’re now a Binance subscriber!.
You’ll see it’s easy to navigate the Binance platform and get to know all the options it has to offer.
This way you canit is possible to start trading Ethereum (ETH) quickly.
The ID checking is a mandatory step you must fulfill to gain access to all those options.
Please, be well aware that it will be only after you have completed this protection measure that you’ll be allowed to begin trading Ethereum (ETH).
No big deal, though. See the following section to complete that step.
To be a certified end user you have to complete the next steps:
On the main screen, hover the mouse on the user profile option and a list will immediately drop down where you will click on "Security"
You may also click on the "Verify" button at the top of the navigator window
In the list shown on the left-hand area of the screen, press on the "Identification" option.
Country of residence is the first thing you must choose.
It will display you three verification levels: the one you already have, the Verified, and the Verified Plus.
To begin, choose "Start now" located below the "Verified" level.
At this point, some personal information wil be required:
At this point, the Binance platform will require you to show a legal document for identity corroboration.
Use your ID card, passport or even your license to complete this step.
In the next stage, you will be asked to take a selfie, following the platform’s instructions.
After you have fulfilled the platform’s requirements, you’ll have to wait a moment while your account is verified.
Once your request has been accepted, the system is going to let you know via email, just be patient.
After that, it’s time to get Ethereum (ETH), to do so see the guidelines below.
The first thing is to understand how to make a purchase of Ethereum (ETH).
The next step is to check your identity with a legal document.
ID card, passport or even a license will be enough to fulfill this requirement.
Follow the system guidelines to take a selfie.
The last step is on Binance’s side: a confirmation process that will just take a while.
As soon as your application has been approved, Binance will send you an email, just be patient.
Upon receiving that e-mail it’s time to buy Ethereum (ETH), just see the instructions below.
Learning how to invest your money in Ethereum (ETH) is actually quite easy.
You may find more than one option throughout the process
The "Buy cryptos" menu on the Binance homepage will be your reference at buying time.
You should, of course, do this after you’ve signed into your account
Hover your mouse over this button and a list of buying alternatives will be displayed.
Next, you’ll have to to use a legal document to verify your identity.
Use your ID card, passport or even your driver’s license to complete this step.
Now the platform will ask you to take a selfie following certain instructions.
The final step is on Binance’s side: a verification process that will just take a while.
Now you have to wait until your request has been accepted. Be patient, the system will let you know via e-mail.
The following instructions will guide you through the Ethereum (ETH) buying process. As soon as you’ve got the confirmation email, you’re a Binance licensed Ethereum (ETH) trader.
First you need to learn how to convert money into Ethereum (ETH).
You may have different alternatives throughout the process
The "Buy cryptos" menu on the Binance homepage should be your reference when making a purchase.
You must, of course, try this once you are signed into your account
Hover your mouse on this button and a list of buying alternatives will be shown.
Select the credit card-related option from the drop-down menu labeled "Buy Cryptos".
After that, just observe the following guidelines:
Now you should select the currency you’d like to use and specify how much you are going to invest.
Next, pick the Ethereum (ETH) you are going to buy
Once you do so, the platform will automatically show you the number of Ethereum (ETH) you will be given, considering the amount of USD you have previously defined.
After that, just follow the following guidelines:
Currency to be used and amount of the investment should be stated in the next box.
In the next field you must choose the Ethereum (ETH) you intend to purchase
Depending on the amount of USD you have recently stated, the platform will automatically show you the number of Ethereum (ETH) you will receive.
Click "Continue".
Now you must specify the method of payment you’ll use. To pay with your credit card, choose in the "Visa/Mastercard" box the option "Add card".
Then the platform will prompt you to enter your CC data.
Now indicate the physical address details of the CC. Following this, select "Add card".
When you see your card has been successfully included, press "Continue".
The next screen will display a summary of the transaction in its final stage. It includes the amount you are paying, the chosen currency and the quantity of Ethereum (ETH) purchased.
In fact, Binance will take a small amount as a commission for making the purchase, and it will be shown in that overview as well.
Now you have to accept the order pressing the "Confirm" button within the following minute, or it will be automatically shut down.
After this, you will be redirected to the site of the bank issuing the credit card. Then you will make a normal online payment using your credit card.
Your recently bought Ethereum (ETH) will be available in your Binance e-wallet (called the «Spot Wallet») when the banking procedure is complete
The platform will now show you the summary of the order you are about to complete. The amount you are paying in the currency you’ve picked, and the Ethereum (ETH) you will receive.
It will also indicate the commission you need to pay for the purchase.
In less than 1 minute click on "Confirm", from then on the order will expire automatically.
Next, you will be sent to the site of the bank issuing the credit card. Follow the directions in the same way you would normally generate a payment with your card.
Your recently purchased Ethereum (ETH) will be available in your Binance digital wallet (referred to as the «Spot Wallet») when the banking process has been completed
After you have included the new method of payment to your profile, go to the "Buy Crypto" menu (upper part of the display), select the "Trading P2P" option, and follow the guidelines below:
After you have completed a payment to the seller, they will be able to release the Ethereum (ETH), just by confirming payment reception.
So, they will automatically be deposited into your wallet.
However, in order for you to get any other Ethereum (ETH), you need to send them to your Spot Wallet.
To do this, all you have to do is click on "Transfer to Spot Wallet" immediately after the buying order has been completed.
If you forget to follow this step right after buying the cryptos, there’s nothing to worry about: you’ll be able to do it at any moment.
After you have completed a payment to the trader, they may release the Ethereum (ETH), by confirming payment reception.
So, they will automatically be added to your account balance.
But in case you want to get any other Ethereum (ETH), you must transfer them to your Spot Wallet.
That’s easy: just click on "Transfer to Spot Wallet" once the buying order is completed.
This Ethereum (ETH) internal transfer can be carried out whenever you need.
Perfect! Now you have money available to purchase any of the huge selection of Ethereum (ETH) in the Binance platform.
To buy Ethereum (ETH) from Binance all you have to do is described below:
That’s all! Now you will have funds in the Spot Wallet so you will be able to trade any of the several of Ethereum (ETH) that the Binance platform has.
Discover how simple is to purchase any crypto from the Binance platform:
Based upon the above mentioned information, you are now ready to commence trading on Binance.
Don’t wait any further and start earning an extra income.
In case you wish to make money via cryptocurrencies, you would have to know how to make use of the Kucoin platform. This form ofexchange is getting great benefits for all its subscribers, in fact it is making increasingly more evolution in all its operations.
If you need to learn easily how to buy a Ethereum (ETH) in Kucoin, you should stay in this article.
When you’ve created your account into the Kucoin platform and fulfilled the safety requirements, you have to deposit your currency. Using this method is fairly simple, the best part is that there are several options to accomplish that.
One of them is usually to enter to the «Assets» or «Balance» section at the top right from the navigator screen and choose the «Deposit» button. After that, pick the Ethereum (ETH) you would like to transfer into your personal account to buy new cryptos, for instance, USDT.
After that, you will pick the network you will use for completing the transaction. We strongly advise Tron (TRC20) because it takes the lowest commissions.
Below is the the address you have to put in the "Exchange" where you currently have the USDT you’d like to send to Kucoin. When you have already done this, you can expect to obtain the funds in the main account immediately.
If that seems not to be not working in the country you’re living, you can try moving funds to your account via P2P trading. This type of transaction means that you make a traditional bank transfer to any of the authorized traders to obtain any of the accepted cryptos.
Once you obtained the funds in your account, it’s the perfect time to learn how to navigate through the Kucoin website.
Purchasing a Ethereum (ETH) on Kucoin you need to send the money you have just purchased to the trading accounts. To achieve this you must navigate to the «Balance» menu, click on the main account, enter the cryptocurrencies then choose «Transfer». This last button can be situated on the same line than the currency you’ll use to complete the purchase.
If that does not work in your country, you can try transferring funds to your account via P2P trading. This type of purchase means that you actually make a conventional bank transfer to any of the listed traders to receive any of the approved cryptos.
Once you obtained the funds in your account, it’s time to start navigating the Kucoin website.
Before buying a Ethereum (ETH) on Kucoin you must move the money you’ve just purchased to the trading account. To accomplish this you must click on the "Balance" menu, click on the main account, enter your cryptocurrencies and choose «Transfer». This last button can be found on the same line as the currency you are going to use for the purchase.
Following this, you are sent to a window to pick where you wish to send the funds. You should take from the «Main Account» to the «Trading Account», and indicate the currency and the quantity you want to send to operate. Then simply click "Confirm".
Once you have the cash already credited in the account, you are ready to purchase your crypto and start trading.
Here we will discuss how to purchase Ethereum (ETH) in diverse ways. To start, you must open the «Trade» menu and click on "Spot trading" (Spot Market). Then type the word Ethereum (ETH) in the search box in the top corner of the webpage.
The platform will highlight the crypto pairs you can trade with.
In short, you‘ll only be able to purchase Ethereum (ETH) just with the crypto pairs displayed there.
In this case, you’re allowed do it with «USDT», «USDC», «KCS», and «BTC».
We select ADA/USDT since we have funds in this couple. When we do this, it automatically loads the crypto graph data and the order book with all the buy and sell operations.
For being able to complete the transaction, you will need to enter the corresponding password.
At the bottom-right, the markets to trade crypto can be seen, automatically enabling «Spot». There you’ll find 3 options to buy Ethereum (ETH). The options are as follows:
You can also configure the order activation but process it at the optimum market price. You will do this by choosing "Stop Market", and entering in "Stop Price" the amount you prefer the Ethereum (ETH) to achieve to activate the order and the amount of USDT to spend. By clicking on Buy Ethereum (ETH), your buying order will be executed at the market rate once it is the same as the stop price you’ve just put.
With any of these alternatives, you’ve already got the Ethereum (ETH) tokens you have purchased available in your trading account. From now on you are able to make transactions with it or you can purchase other cryptos. Remember that with Ethereum (ETH) you will only be able to get the cryptos available in their pairs. Frequently you will need to trade your Ethereum (ETH) for a crypto that is commonly available in the Ethereum (ETH) pairs, such as BTC, USDT, and BNB, and after that you could buy the particular one that you really wish.
Now you can buy a Ethereum (ETH) via the Kucoin site.
| Exchange | Market Pairs | Buy |
|---|---|---|
| Binance | BTC/USDT | Buy here |
| FTX | BTC/USD | - |
| Coinbase Exchange | BTC/USD | - |
| KuCoin | BTC/USDT | Buy here |
| Huobi Global | BTC/USDT | - |
| Bybit | BTC/USDT | - |
| Gate.io | BTC/USDT | - |
| FTX US | BTC/USD | - |
| Bitfinex | BTC/USD | - |
| Kraken | XBT/USD | - |
| Bithumb | BTC/KRW | - |
| Bitstamp | BTC/USD | - |
| Binance.US | BTC/USD | - |
| bitFlyer | BTC/JPY | - |
| Gemini | BTC/USD | - |
| Coinone | BTC/KRW | - |
| Liquid | BTC/JPY | - |
| Poloniex | BTC/USDT | - |
| Bittrex | BTC/USD | - |
| Zaif | ETH/JPY | - |
Ethereum is a decentralized open source blockchain system that has its own cryptocurrency, Ether. ETH works as a platform for many other cryptocurrencies, as well as for the execution of decentralized smart contracts.
Ethereum was first described in a 2013 white paper by Vitalik Buterin. Buterin, along with other co-founders, secured funding for the project in an online public sale in the summer of 2014. The project team managed to raise $18.3 million worth of Bitcoin and the price of Ethereum in the initial coin offering ( ICO). was $0.311, with over 60 million Ether sold. Taking the price of Ethereum now, this puts the return on investment (ROI) at an annualized rate of over 270%, essentially nearly quadrupling your investment every year since the summer of 2014.
The Ethereum Foundation officially launched the blockchain on July 30, 2015, codenamed the prototype "Frontier." Since then, there have been several network updates: "Constantinople" on February 28, 2019, "Istanbul" on December 8, 2019, "Muir Glacier" on January 2, 2020, "Berlin" on April 14, 2020. 2021 and most recently on August 5, 2021, the "London" hard fork.
The purported goal of Ethereum is to become a global platform for decentralized applications, allowing users around the world to write and run software that is resistant to censorship, downtime, and fraud.
Ethereum has a total of eight co-founders, an unusually high number for a crypto project. They met for the first time on June 7, 2014 in Zug, Switzerland.
Among the other co-founders of Ethereum are: - Anthony Di Iorio, who signed the project during its first phase of development. - Charles Hoskinson, who played the leading role in the creation of the Swiss-based Ethereum Foundation and its legal framework. - Mihai Alisie, who helped establish the Ethereum Foundation. - Joseph Lubin, a Canadian entrepreneur who, like Di Iorio, helped fund Ethereum in its early days and later founded an ETH-based startup incubator called ConsenSys. - Amir Chetrit, who helped found Ethereum but walked away from it early in development.
Ethereum pioneered the concept of a blockchain smart contract platform. Smart contracts are computer programs that automatically perform the actions necessary to fulfill an agreement between multiple parties on the Internet. They have been designed to reduce the need for trusted intermediaries between contractors, thus reducing transaction costs and increasing the reliability of transactions.
Ethereum's main innovation was the design of a platform that would allow smart contracts to be executed using blockchain, further reinforcing the already existing benefits of smart contract technology. The Ethereum blockchain was designed, according to co-founder Gavin Wood, as a kind of "one computer for the entire planet," theoretically capable of making any program more robust, resistant to censorship, and less prone to fraud when running it. Worldwide. distributed network of public nodes.
In addition to smart contracts, the Ethereum blockchain is capable of hosting other cryptocurrencies, called "tokens," by using its ERC-20 compatibility standard. In fact, this has been the most common use of the ETH platform so far: over 280,000 ERC-20 compliant tokens have been launched to date. More than 40 of these are the top 100 cryptocurrencies by market capitalization, for example USDT, LINK and BNB. Since the rise of Play2Earn games, there has been a substantial increase in interest in ETH to PHP prices.
The Ethereum network has been plagued by high transaction fees, which often creep up in times of high demand. In May 2021, the average network transaction fee peaked at $71.72.
In addition to the high transaction cost, the leading altcoin also suffers from scalability issues.
As already mentioned, it is planned to move to a proof-of-stake algorithm to increase the scalability of the platform and add a number of new features. The development team has already started the process of transitioning to ETH 2.0, rolling out a few updates along the way, including the London hard fork.
The London Update went live in August 2021. It included five Ethereum Improvement Proposals (EIPs), namely EIP-3529, EIP-3198, EIP-3541, and notably EIP-1559 and EIP-3554.
EIP-1559 is probably the most popular update of all the EIPs.
The EIP-1559 update introduces a mechanism that changes the way gas fees are estimated on the Ethereum blockchain. Before the update, users had to participate in an open auction for a miner to collect their transactions. This process is known as a "first price auction" and, unsurprisingly, the highest bidder wins.
With the EIP-1559, this process is handled by an automated bidding system and there is a "base fee" for transactions to be included in the next block. This fee varies depending on network congestion. Also, users who want to speed up their transactions can pay a "priority fee" to a miner for faster inclusion.
EIP-1559 also introduces a loading mechanism. A portion of each transaction fee (the base fee) is burned and removed from circulation. This is intended to reduce the circulating supply of Ether and potentially increase the value of the token over time.
Interestingly, less than two months after the London upgrade was implemented, the network had burned over $1 billion worth of Ether.
In 2022, Ethereum plans to move to proof of stake with its Ethereum 2.0 upgrade. This step has been on the Ethereum roadmap since the network's inception and would see a new consensus mechanism, as well as introduce sharding as a scaling solution. The current Ethereum chain will become the Beacon chain and will serve as the settlement layer for smart contract interactions on other chains.
At the end of 2021, Ethereum's Arrow Glacier update has been postponed until June 2022. Until then, Vitalik Buterin predicts that the path to the end of the network will be determined by optimistic summaries and Zk summaries.
As of September 2021, there were approximately 117.5 million ETH coins in circulation, 72 million of which were issued on the genesis block, the first block on the Ethereum blockchain. Of these 72 million, 60 million were awarded to the initial contributors of the 2014 collective sale that financed the project and 12 million to the development fund.
The remaining amount was issued in the form of bulk rewards for miners on the Ethereum network. The original reward in 2015 was 5 ETH per block, which was later reduced to 3 ETH in late 2017 and then 2 ETH in early 2019. The average time it takes to mine an Ethereum block is around 13 to 15 seconds.
In the August 2021 Ethereum network update, the London hard fork contained the Ethereum Enhancement Protocol, EIP-1559. Instead of the first price auction mechanism where the highest bidder wins, EIP-1559 introduces a "base fee" for transactions to be included in the next block. Users who want to prioritize their transactions can pay a "tip" or "priority fee" to the miners. As the base fee dynamically adjusts to transaction activity, this reduces the volatility of Ethereum gas fees, although it does not reduce the price, which is notoriously high during spikes in network congestion.
One of the main differences between the economy of Bitcoin and that of Ethereum is that the latter is not deflationary, that is, its total supply is not limited. The developers of Ethereum justify this by not wanting to have a "fixed security budget" for the network. Being able to regulate the emission rate of ETH by consent allows the network to maintain the minimum emission necessary for adequate security.
However, with the introduction of EIP-1559, the basic fees used in transactions are burned, removing ETH from circulation. This means that more network activity would lead to more ETH burned and the decrease in supply should lead to Ethereum price appreciation, all other things being equal. This has the potential to make Ethereum deflationary, something that ETH holders are excited about: a potential Ethereum price appreciation today.
As of August 2020, Ethereum is protected by the Ethash proof-of-work algorithm, which belongs to the Keccak family of hash functions.
However, there are plans to move the network to a proof-of-stake algorithm tied to the major Ethereum 2.0 update, released in late 2020.
After the Ethereum 2.0 beacon chain (Phase 0) went live in early December 2020, it became possible to start participating in the Ethereum 2.0 network. An Ethereum stake is when you deposit ETH (32 ETH required to activate validation software) into Ethereum 2.0 by submitting it to a deposit contract, which helps protect the network by storing data, processing transactions, and adding of new blocks to the blockchain. . As of this writing in mid-September 2021, the Ethereum price now for 32 Ether is around $116,029. The amount of money Ethereum validators are making right now is a 6% return in April, which works out to around 1.91952 ETH, or $6960 at Ethereum's current price. This number will change as the network develops and the number of participants (validators) will increase.
Ethereum staking rewards are determined by a distribution curve (average staking and percentage of participants): some rewards for participating in ETH 2.0 were 20% for initial participants, but will drop to end up between 7-4% .5% per year.
The minimum requirements for a stake in Ethereum is 32 ETH. If you decide to opt out of Ethereum 2.0, it means that your Ethereum stake will be locked to the network for months, if not years, in the future until the Ethereum 2.0 upgrade is complete.
As Ethereum is the second largest cryptocurrency after Bitcoin, it is possible to buy Ethereum or use ETH trading pairs on almost any major cryptocurrency exchange. Some of the largest markets include:
Popular Ethereum price pairs include: ETH/USD, ETH/GBP, ETH/AUD, and ETH/JPY.