Investing in the cryptocurrency market is an increasingly hot topic due to the rising popularity of digital currency trading. So how do you buy ETH to start investing? Where is safe to buy? All will be explained in the following article.
How to buy ETH?
Buying ETH or other Crypto coins can be done in two ways: on exchanges or through black market (intermediary). These methods have different characteristics, so to know which one suits you, please follow our analysis below:
Buying ETH on exchanges
This is the choice of most investors when purchasing Ethereum because it has the following advantages:
Advantages:
- Reputable, safe transactions: If you choose an exchange with full security and transaction safety features, you can be completely assured when buying ETH. Large exchanges like Fiahub, Remitano… have been tested and verified by many Vietnamese investors.
- Convenient and quick: Whenever you need, just log into your account on the exchange to buy ETH with a few simple steps.
- Many options: Currently, there are many exchanges on the market, each with its strengths, so surely there is one that fits your needs.
Disadvantages:
- Legal complications: This is quite valid because currently, cryptocurrency transactions are not legally protected in our country. Therefore, if you unfortunately choose an untrustworthy and unsafe exchange and lose your assets, the law may not protect or restore justice for you.
Recommended reputable exchanges in Vietnam
Remitano Exchange
When you think of an exchange, you immediately think of Remitano. Currently, Remitano is the exchange with the largest trading volume in Vietnam, thanks to its service quality and reliable security. The platform supports trading many coins, including Ethereum.
Vicuta.com Exchange
Vicuta.com is also on the list of recommended exchanges because it supports a variety of Cryptos and is linked with many banks, making ETH purchasing very easy on this platform. Furthermore, it offers reasonable prices, quick transactions, and fast order processing.
Buyselleth.com Exchange
Buyselleth was the first exchange to facilitate Ethereum trading in Vietnam, right after Ethereum gained popularity in Vietnam. It has many advantages such as fast order matching, reasonable prices… However, this exchange only supports and accepts payments via Vietcombank, so if you choose this platform, make sure you have a Vietcombank account with internet banking activated.
Buying ETH through intermediaries
This involves trading with another person who has the same demand. You can find such a person through social channels like Facebook, Instagram… or through an intermediary. Benefits of this method include lower transaction fees (cheaper than exchanges) and no legal worries as it is similar to a one-to-one exchange. However, this method carries a high risk of scams or theft. The person you trade with might take your money and disappear, or the intermediary might scam both parties. It’s best to meet in person and conduct the transaction directly to avoid these risks.
Simple guide for beginners to buy ETH
Usually, each specific exchange guide includes instructions on how to use the platform, but in this article, I will summarize the necessary steps for you to remember.
Step 1: Register an Ethereum wallet
This is naturally the first step when buying ETH. You need a wallet to store ETH after purchase; otherwise, it’s very inconvenient for your investment work. There are many options for creating an ETH wallet such as cold wallet, online web wallet, software wallet, mobile app wallet… Depending on your work and needs, you can choose the appropriate wallet type. For storing large assets rarely used, a cold wallet is the safest; for smaller, frequently used assets, other types are more convenient.
Step 2: Create an account on your chosen exchange
After having a wallet, consider which exchange fits your work best, then register an account to trade there. To access more functions and increase account security, you should verify your account.
Step 3: Buy ETH on Remitano or Fiahub
Here, I use Remitano and Fiahub as examples because they are the most used. With Remitano, you need to have money in your account to buy ETH, whereas, with Fiahub, you can buy and pay directly without pre-deposit.
After registering and verifying your account, what are you waiting for? Buy ETH now. To facilitate your first investment, you can store ETH on the exchange (exchange wallet). Many people do this, although it carries certain risks, it rarely happens. Moreover, keeping a moderate amount for short-term storage and use minimizes concerns.
Conclusion
This article has provided you with information about safe and reputable places to buy ETH, along with easy-to-follow instructions. Hopefully, you can find a reliable place to purchase ETH and succeed in your investments.
See more: Buy Bitcoin
