How to Buy Ethereum
Ethereum is the second most sought-for cryptocurrency on the market after Bitcoin. Its creator, the computer scientist Vitalik Buterin, wanted to leverage the potential of the blockchain technology and create a separate blockchain network where users could create smart software contracts and decentralized applications.
In order to keep the network running, prevent spams, and pay for the services, Ethereum has its own native coin called Ether. However, you’ll frequently see the name Ethereum being used to refer to both the network and the coin itself.
Ethereum has managed to show how cryptography can be implemented across a range of industries besides finance. Smart contracts can be used by hospitals to keep patients’ registers, create insurance policies, solve the issue with copyright content, etc. That’s why more and more people see the usefulness and long term profit of purchasing Ethereum.
One of the common ways to buy this coin is by using PayPal which is what our guide today focuses on. Let’s begin step by step!
Buy Ethereum With PayPal via LocalCryptos
LocalCryptos is a peer-to-peer platform and a marketplace for buying and selling the two most popular cryptocurrencies: Ethereum and Bitcoin. It plays the role of an intermediary because it links a potential buyer with an existing seller within record time, faster than a regular trading platform.
Some traders are afraid they’ll be scammed and have their funds stolen if they buy cryptos on this kind of peer-to-peer networks, but you should have no second thoughts when it comes to using LocalCryptos. The platform is actually an escrow service and retains the right to lock and hold the payments until the predetermined conditions have been made, i.e. not before both traders have paid what they owe.
Moreover, the platform lets you check the reputation of each of the buyers listed there. This way, you can still choose to trust someone based on his/her trading history, even though you don’t know his/her real identity.
How to Buy Ethereum on LocalCryptos
The platform used to be called LocalEthereum as it was primarily created for purchasing Ethereum. It’s suitable for novices and experts alike, with just a couple of tools that you’ll quickly get the hang of.
First, specify whether you’re buying or selling Ethereum. After clicking “Buy”, you’ll be asked to choose the desired payment method from the list of supported ones. Select the “PayPal” option and choose a fiat currency.
Next, you’ll see a list of offers from different sellers. Look for the right seller based on your price limit and the amount of Ethereum you need. Don’t forget to check their trading reputation by looking at their past trades and responsiveness, just to be safe. When you make up your mind click on the “Buy” button.
Some sellers might require an ID card to verify your identity before entrusting their coins to you. You even have the option to talk with them using the live chat option. Once you file your order request, you should get an email from PayPal with more details. Finally, the seller should confirm he got the money from you, at which point the Ethereum will appear in your account balance.
Maybe peer-to-peer trading is not your cup of tea, and you’re looking for other secure ways to buy Ethereum while still using PayPal as a payment method.
Another option is to register for an account on a popular brokerage platform called eToro. Originally developed as a CFD trading platform, it has recently widened its scope of services to include the crypto market as well. Even though it’s not the only crypto exchange out there, we recommend it because it’s reliable, user-friendly, and supports PayPal. Once you’ve bought Ethereum if you want, you can store the coins in the native eToro wallet.
Disclaimer: Digital currencies and cryptocurrencies are volatile and can involve a lot of risk. Their prices and performance is very unpredictable and past performance is no guarantee of future performance. Consult a financial advisor or obtain your own advice independent of this site before relying and acting on the information provided.