What does Ethereum come in?
Ether (abbreviated as ETH) is Ethereum’s currency. It is required by any person that wishes to build on or use the platform itself. It is just like Bitcoin, the currency Ether can also be traded and mined online. Most people use the term Ethereum to refer to the cryptocurrency itself, which is why it can be confusing for beginners.
Ether’s total supply and its issuance rate were decided by donations that were gathered on its presale back in 2014. The results were:
- Around 60 million of ether was created to its contributors during the presale
- 20 percent of the above or 12 million were created to its development fund wherein most of it are going to the early developers and contributors, while the remaining amount went to the Ethereum Foundation.
Ethereum’s founders made a statement that Ether is not a currency as it is considered a crypto-fuel, which means that it is some sort of token that has a single primary use – which is to pay for the platform itself. It means that you might not be able to purchase stuff with the use of Ether online. But, you can still invest and trade with it in the hopes that the price increases.
How to Buy Ethereum
The easiest way for you to buy Ether is by choosing one of the best crypto exchanges where you can also see a supply of Ethereum. Exchanges will facilitates the buying, selling and exchanging of cryptocurrencies for fiat currencies.
Buying through coinbase
The cheapest and most convenient way in buying Ether would be through Coinbase.com. You need to open up a Coinbase account first. This is followed by supplying your payment method, whether this is through a bank account or credit card. You then go to the “Buy/Sell” option then select the amount of Ether that you want. Click on the “Buy Ethereum” once you have decided.
Buying through Gemini Exchange
Just like with Coinbase, you register first in Gemini.com. As of this writing, Gemini Exchange is only accessible in 26 states, not to mention only in the US. Those outside of the US cannot be served by Gemini Exchange. Gemini Exchange will need you to provide an email address when you register. A registration token will be sent to your email for verification. You will be asked to provide your phone number so as to set up the 2 factor authentication, which is to link your phone through your account. You will receive a text message and that message is your key to finally open up an account with Gemini Exchange.
You can start trading with Gemini Exchange, whether you deposit various cryptocurrencies or even trade with Ether in it. There are no withdrawal or deposit fees, but they do charge trading fees at 0.25 percent on both sides of transaction.
Buying through GDAX
GDAX is considered the most trusted digital asset exchange online and you can see why as you enter their site. GDAX.com currently trades with Ethereum, Litecoin and Bbitcoin. You will need to register with them, as well. Just go to gdax.com and click on the “Create Account” button. You will be redirected to coinbase.com, but the form is still from GDAX. Complete the form by clicking on “Create an Account.” You have to click on the verification link that is sent to your email address. Just like with Gemini Exchange, the site uses a 2 factor authentication.