How do I purchase ethereum (ETH)?
‘Ethereum’ and ‘ether’ are two terms that are often confused. This isn’t that big of a problem, however, there’s definitely a difference between the two. When we refer to Ethereum, we mean the entire network. The tokens that are used on the Ethereum network are called ethers. Ether is only second to bitcoin in terms of entire cryptocurrency marketcap.
Step 1: Register at BTC Direct
The first step to buying ethers is to create an account on BTC Direct. If you haven’t registered an account yet, you can click ‘Register’ on the top right of the page. The registration process is quick and easy and you’ll be able to place an order the same day!
When you create an account on BTC Direct we will ask you to identify yourself. We focus on providing a platform where you can buy and sell cryptocurrencies with the greatest of ease. However, offering services without identifying our users would open the door to illicit activity as it could for instance allow criminals to buy bitcoins with a hacked bank account. We expect that laws and regulations will come into force in the not too distant future. To make sure that our customers won’t experience any inconvenience to these potential regulations, we already have a clear KYC policy in place.
The documents we receive from you will be saved to an offline, encrypted hard drive. The provided documents are only available to selected BTC Direct employees, and will never be shared with third parties.
Step 2: Create a Wallet
Your next step will/should be creating a wallet to store your ether in. This video tutorial shows how to create a wallet.
There are many different kinds of wallets. In our article on wallets you can read about the differences and we explain how you can keep your wallet secure and protected.
Step 3: Purchase at BTC Direct
Now you’ve created a BTC Direct account and a wallet, it’s time to buy ether!
- Select ‘ETH’ or ‘Ether’ in the calculator on our homepage. Enter the desired amount of coins, or the amount of euros you would like to spend in the price calculator. Click on the green button that states ‘buy ether’. Now you will be shown an overview of your order.
- Enter your ether receiving address in the corresponding field. You can find your address by selecting ‘receive ether’ in your wallet. Please make sure to copy and paste the address, never type it out manually.
- Select your preferred payment method. Please note: Only payments from your own bank account are permitted.
- Make sure you’ve entered the correct address, that you’ve read our terms of service and that you’ve agreed to them.
- After you’ve finished up your payment, a screen pops up that states ‘verify your transaction’. This is your last chance to make sure you’ve entered the correct address. Did you make a mistake? Please do not confirm the order but contact our support team instead, they will help you out.
Step 4: You ethers are on their way
Your transaction will be processed instantly. In most cases your ether will be in your wallet within ten minutes. But, there are always exceptions. When you place your first order on our platform or use a bank account that you haven’t used before, we will need to verify it manually. This means that when you place an order outside of our business hours, it could take a little longer.
In addition, it could also take more time before your transaction is visible in your wallet if it’s busy on the ethereum network. This has nothing to do with the processing of your order by BTC Direct.
You’ve done your research and are now eager to buy your ether. We would like to help you in doing so! The only thing you need are a BTC Direct account and a wallet. When you’ve created both, you can start buying bitcoin using a payment card or a bank transfer. The coins will be in your wallet shortly!