How do I buy cryptocurrency such as Ether (ETH)? – blockhive
As we aim to increase the rate of mass adoption, we are taking a moment to educate new and prospective blockchain enthusiasts about obtaining your own cryptocurrency. If you are a first-time user, this article is for you.
There are many ways to get a hold of cryptocurrency and we have chosen a method that we prefer for both security and convenience. In this article, we will explain how to purchase Ether (ETH), which is the 2nd most popular cryptocurrency out there, and is used for a majority of blockchain-based crowdfunding campaigns and the underlying token powering the Ethereum blockchain. We choose a combination of MetaMask and Changelly for a complete solution.
Step 1: Download your wallet: we recommend MetaMask
The first thing you will need to do is create a cryptocurrency wallet. There are many wallets on the market and choosing one may seem like a daunting task. We value privacy, security and convenience and for these reasons we choose the MetaMask browser extension wallet. Before attempting to download MetaMask, please make sure you have a compatible browser. MetaMask is compatible with Google Chrome, Firefox, Opera, and Brave browsers.
If not already using one of the above mentioned browsers, download one of these browsers below. We recommend Google Chrome.
Otherwise, proceed to download MetaMask here. Once on the page, click “Add to Chrome”.
Step 2: Create a new wallet
Click on “Create a Wallet” to proceed. Once you have gotten past the “Help Us Improve MetaMask” page, you will be asked to create a password. Make sure to create a password which is both secure and one which you can remember. You will use this password each time you login to your wallet or process a transaction.
Congratulations, you have created your Ethereum wallet. You should now see the screen below. Please read it carefully and follow the instructions. Note: For the purposes of this educational article, we are sharing the “Secret Backup Phrase”, which is something you should never do under normal circumstances!
You will then be asked to confirm your secret backup phrase:
If you have selected the 12 words to your secret backup phrase in the correct order, you will be able to proceed to the next screen, which means you are done creating your wallet! Congratulations!
You will now be at the following screen, where you can see and “copy to clipboard” your Ethereum address, to which you can deposit ETH. Please see below on the right-hand side. In this case, our ETH address is 0x7Af7C62B752b580929F819395f1f1e901227578D.
Step 3: Purchase Ether (ETH)
For this step, we recommend using Changelly, which is a non-custodial instant cryptocurrency exchange, acting as an intermediary between cryptocurrency exchanges and users. Changelly allows users to buy cryptocurrency with fiat monies (EUR, USD, JPY, etc.) through credit cards (Visa and MasterCard). To do so, visit this link and click on “buy crypto with bank card” to proceed to the following page:
You will notice that the default exchange is set to “BTC” or bitcoin. Change this by clicking on the arrow next to “BTC” and select “ETH”. Once you have done so, enter the amount in EUR that you wish to exchange into ETH. Then enter your wallet address. To make sure you have copied your address correctly, return back to your MetaMask wallet and select the “copy to clipboard” icon. Then paste it into the Changelly page with CTRL+V or Apple+V if you are on a Mac.
If you forget to change “BTC” to “ETH”, you will see the following:
Otherwise, you will be shown the amount of ETH you will receive for any given amount and once you click “Continue”, you will be taken to the next steps, where you can enter your credit card information.
Once you have filled-in this information, you will need to verify your email and phone number. Check your text messages and email for confirmation, see below:
Once you have done this, you will be taken to the payment page:
Enter your payment information and proceed to the verification page. Once you have verified your payment, you will receive a payment ID to your email and you are done!
Congratulations on obtaining your first ETH!
Optional: The transactions on the Ethereum network are processed by a collective group of validators and these confirmations may take some time. For further confirmation, you can also refer to Etherscan.io, an Ethereum block explorer. Enter your Ethereum address to reveal the transactions associated with your account.