Fastest Way to Buy Ethereum | Step-by-Step

Summary: Having a fast and convenient way to buy Ethereum allows individuals to benefit from its potential growth and participate in the expanding Ethereum ecosystem. To do so, you should consider using a regulated crypto-trading platform like BYDFi, which is a secure and reliable environment for swift transactions.

About Ethereum

Ethereum (ETH) is a cryptocurrency from 2015 that operates on the Ethereum network. This decentralized computer system enables secure and transparent transactions without intermediaries like banks or governments.

ETH exists solely within the Ethereum blockchain—a computer network that collectively maintains a shared ledger of transactions. It serves as a means of exchange, therefore, allowing users to send and receive value globally, used for various purposes within the Ethereum ecosystem.

ETH has witnessed substantial growth and increased adoption, fueled by its utility within the mentioned ecosystem and the rise of decentralized applications. However, the price of ETH has shown both volatility and upward potential, attracting investors and traders interested in participating in the cryptocurrency market.

Where to buy Ethereum?

Currently, there’s a wide array of crypto trading platforms that support ETH. Yet, selecting the right one depends on several factors, including:

• Security and regulation;
• User interface and customer support;
• ETH availability;
• Liquidity and fees;
• Reputation.

Considering these factors, our recommended platform is BYDFi. It stands out by placing a strong emphasis on security through strict adherence to regulations and the implementation of KYC (Know Your Customer) policies, thus ensuring a safe and secure trading environment.

In addition, BYDFi offers a host of other benefits, such as:

• Access to over 400 different cryptocurrencies (ETH included);
• A user-friendly interface for easy navigation;
• Copy trading functionality that allows users to replicate the trades of successful traders;
• Advanced features like leveraged pairs and perpetual contracts with high leverage.

BYDFi is also committed to regulatory compliance and holds registrations such as MSB (Money Services Business) and FINTRAC (Financial Transactions and Reports Analysis Centre of Canada). Therefore, it demonstrates its commitment to providing a reliable and regulated platform for crypto trading, especially for users based in US and Canada.

How to buy Ethereum fast: Step-by-step

If you’re looking for the fastest way to buy ETH, BYDFi offers a quick process that can be completed within minutes. Here’s a step-by-step guide:

Step 1: Create a free account on the BYDFi website or app

To begin the registration process on the BYDFi website, click on the Get Started button in the top right corner. As an alternative, you can also use the email sign-up form in the center of the page by entering your email address and selecting the Get Started button.

Depending on your preference, you can choose between two registration options—email or phone number. Simply select the desired option from the top selection panel.

Email registration

1. Enter your email address and click Send to receive a six-digit verification code from BYDFi, and copy/paste the code into the provided field;

2. Come up with a secure password and agree to the terms and conditions by checking the corresponding box. If you have an invitation code, you can enter it as well;

3. Click the Get Started button and complete the registration process.

Mobile registration

To proceed with the mobile registration on BYDFi, simply provide your phone number, and you will receive an SMS with a verification code. Follow the same steps as mentioned in the email registration process to continue setting up your account.

Step 2: Decide on the amount and buy Ethereum

After successfully creating an account on BYDFi, the next step is depositing funds to purchase ETH. This can be done easily by clicking on the Buy Crypto button located on the left side of the navigation bar. From there, you can select the ETH token and choose your preferred fiat currency.

Once you have selected ETH and determined the fiat currency for your transaction, you will need to scroll down to the payment channels section and pick the option that best suits your needs. Still, it’s important to note that fiat deposits are facilitated through third-party services and are not directly processed by BYDFi.

Payment options include:

1. Credit card payment;
2. Apple Pay;
3. Google Pay;
4. CashApp;
5. Bank wire.

Step 3: Review the fees and confirm your order

Before finalizing your order, the exchange platform will provide an estimate of the total fees, costs, and the amount of the selected cryptocurrency you will receive from your purchase.

After completing your purchase, we recommend proceeding with the KYC (Know Your Customer) verification process. This step is essential for unlocking the platform’s full features and enjoying higher transfer and withdrawal limits.

Step 4: Store Ethereum in your wallet

On BYDFi, your funds are securely stored in an online hot wallet. This virtual wallet directly links to your account and holds the funds you possess within the platform.

However, for an additional layer of security, BYDFi also provides the option to store your funds in a cold storage wallet, which is what we’d recommend. This involves using electronic devices that require physical access to withdraw funds, offering enhanced protection for your assets.

Trading tips

Trading ETH and other cryptocurrencies requires careful consideration and preparation. Namely, it isn’t a simple task but rather a complex endeavor accompanied by various challenges and risks. Therefore, conducting thorough market research and understanding other crucial aspects is essential before venturing into it.

To ensure maximum profitability, it’s crucial to engage in extensive research before investing your funds into any speculative asset. Moreover, adhering to the golden rule of “Plan your trade and trade your plan” is also advised. And, additionally, it’s wise to manage the associated risks by achieving portfolio diversification.

We also recommend familiarizing yourself with the following aspects of crypto trading:

• Crypto day trading;
• Swing trading;
• The most common chart patterns in trading;
• Different trading techniques.

Ethereum price today

Pros and cons of buying Ethereum

Mistakes to avoid when investing in cryptocurrencies

When buying ETH, or any other cryptocurrency for that matter, it’s essential to keep in mind common mistakes investors make. Here are some of them:

• Investing more than you can afford to lose;
• Lack of research before investing;
• Making decisions based solely on hype and speculation;
• Neglecting security measures;
• Failing to diversify your investment portfolio.

The bottom line

The fastest way to buy ETH involves choosing a reputable exchange, using instant payment methods like debit or credit cards, and ensuring quick verification. In this case, we recommend using our go-to crypto exchange platform, BYDFi, for the fastest experience.

Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.

FAQs about the fastest way to buy Ethereum

What is Ethereum?

Ethereum (ETH) is a digital cryptocurrency that operates on the Ethereum blockchain, used for transactions and as a fuel for running applications on the Ethereum network.

Where to buy Ethereum?

You can purchase ETH from various cryptocurrency exchanges and trading platforms, with BYDFi being one of the most popular options.

How to buy Ethereum?

To buy ETH, create an account on a cryptocurrency exchange or trading platform (for example BYDFi), complete the verification process, deposit funds, and execute a buy order for ETH using a preferred payment method.

Can I buy Ethereum instantly without verification?

Some platforms allow small purchases of ETH without full verification, but for larger transactions and enhanced security, identity verification is usually required.