In order to purchase ether, you need to sign up to an exchange, which is a website what allows anyone to buy and sell Ethereum with dollars, euros, pounds sterling (etc.)
Coinbase is recognised as one of the trusted ether exchanges. They make it very easy to buy and sell ether once your account is setup and verified.
Signup using the green button and you will get $10 worth of bitcoin (approx €9) when you deposit $100 or more (around €90). When you receive this bitcoin signup bonus in your new Coinbase account, you can decide to keep it, or sell it into your local currency – allowing you to purchase ether, or just cash it out.
You have to do the following before you can buy ether with your Coinbase account:
- Verify your identity by scanning passport or drivers licence (anti money laundering laws). Full instructions are available on Coinbase.
- Connect your bank account (free SEPA transfers in Europe, no fee purchases), debit or credit card.
- Transfer euros via SEPA (free, takes usually 2 business days) or with your credit/debit card (instant, not free)
The above steps takes a few days normally. It’s a good idea to verify your identity and deposit some local currency into your account and wait to take advantage of Ether price drops.
Set Ethereum Price Alerts to take Advantage of Price Drops
At the next screen, click “create price alert”:
Next, use the slider to pick the price target for your ether price alert. You could, for example, set an alert for when ether drops or increases $50/€50/50GBP from the current price. In the example below, I set an alert for when ether goes above €350 in price:
Tap “create alert”, and you’ll be brought to the next screen, confirming that your price alert is active:
It’s good to wait for a little while for a price drop, then buy in with what your comfortable with. This strategy will be discussed in a future blog post.
Coming soon, in this series on Ethereum investment:
- Should I Invest in Ethereum?
- Tools to use – Buy, Track and Secure your Ether Investment
- When to Buy Ether – what is a good moment to purchase Ether?