How to Buy Ethereum on Binance as a Beginner

 

Ethereum is an open-source, decentralized blockchain technology with its own coin, Ether. ETH serves as a platform for a variety of different cryptocurrencies as well as decentralized smart contract execution. So, how can I buy Ethereum on Binance following the beginner's guide?

Vitalik Buterin initially introduced Ethereum in a whitepaper published in 2013. In the summer of 2014, Buterin and his co-founders raised funds for the project through an online public crowd sale. The project raised $18.3 million in Bitcoin, and the price of Ethereum in the Initial Coin Offering (ICO) was $0.311, with more than 60 million Ether sold. Using Ethereum's current pricing, the annualized return on investment (ROI) is over 270 percent, effectively quadrupling your investment every year since the summer of 2014.

Buying Ethereum on Binance

Signing up on Binance

Binance is better suited to those who are familiar with bitcoin terminology and investment alternatives. To begin, you will need to create a Binance account, and submit your information including full name, country, email address, and phone number. Then, you will require to do KYC in order to verify your account and secure it from attackers.

Adding a Fund to Buy Ethereum

Users can make deposits using Fiat or Spot.

Obtaining a digital coin address is required when depositing using Spot (Crypto). Users, on the other hand, can buy Ethereum and deposit it with a Visa card. While there are various ways to deposit via Peer to Peer, this is the most popular.

Converting your Fund to Ethereum ( Exchanging )

This step is the easier way to buy Ethereum without any risks and with 0 fees. Simply click on the "Trade" following with ''Binance Convert''. And you will not do any trade with someone else or take any risks.

Trading Ethereum on the Market

When it comes to buying or selling Cryptocurrencies, trading Ethereum on the market is the most well-known method.

And here, you should select the Stable Coin like USDT tether, and select an amount you want to buy ( up to $10 minimal ). then you can buy.

Furthermore, you can choose the price value of Ethereum or any cryptocurrencies.

Let's say the current price of Ethereum is $1,149, but you wish to buy at a cheaper price. You can choose whatever amount you want to pay for your assets, such as ($1,000 ETH), and the robot will acquire it for you when the price reaches that figure. As a result, cryptocurrency traders have figured out the best way to buy and sell.

Examine the Ethereum price on CoinMarketCap

The volume-weighted average of all market pair values published for the crypto asset is used to calculate a coin's price. The sources for the pricing may be found on each coin page's markets section.

The reason is always looking at prices before buying Ethereum or any cryptocurrencies.

Buying Ethereum via P2P

A Peer-to-peer (P2P) service is a decentralized platform that allows two people to communicate directly with one another without the need for a third party to intervene. Instead, the buyer and seller use the P2P service to transact directly with one another. 

On Binance, you can buy Ethereum via peer-to-peer (P2P) as a safe method and may pay 0.5 in fees.

Bottom Line

In Brief, buying Ethereum is one of the most straightforward and well-known transactions available today. Before purchasing any token, make sure to follow all of the processes outlined in this article and carefully analyze the pricing.