With a market capitalization of USD 191.74 billion, Ethereum ETH is the second-largest cryptocurrency.
Billionaires like Mark Cuban support Ethereum ETH, aka Ether.
Moreover, after Bitcoin, ETH is a good investment choice.
If you had invested in 2015 in Ethereum, you must now have been a millionaire.
However, it’s not too late; you can still invest in it and earn handsome profits.
So, if you plan on investing in Ether and are stuck on where to start, this guide is surely for you. Keep reading to learn how to Buy Ethereum ETH in Canada.
Ultimate Guide to Buying ETH in Canada
While being blank, it could be daunting to invest in cryptocurrency. However, after reading this guide, you can buy ETH and earn profits. So, without further ado, let’s get started.
How much risk can you take?
Undeniably, investing in ETH is like gambling.
While all investments have risks, cryptocurrency is vulnerable to price fluctuations.
If you are into trading, you might have been familiar with the fact that bitcoin value has tumbled since Elon Musk tweeted, “Tesla will no longer accept Bitcoin as payment.”
Crashes and impressive returns are normal in crypto.
Though there would be higher returns, remember your tolerance when investing in Ethereum ETH.
In brief, invest the amount in crypto that you can afford to lose.
Select a Crypto Exchange
Well, now you have the amount you can invest in your hand.
But how will you buy Ethereum ETH with fiat currency?
So, now it’s time to choose a crypto exchange; examples include Netcoins.
These crypto exchanges allow buyers to buy ETH and other cryptocurrencies using fiat currency, i.e., dollars.
Many crypto exchanges offer a user-intuitive interface that helps users invest without hassle.
Here is a caveat: Make sure your crypto exchange is secure, like Netcoins and have a wallet to store your investments.
Add Funds to Your Account
To buy Ethereum ETH, you need to create a crypto exchange account and add funds to your account. Then, you can deposit money from your bank account, including your savings and personal account.
Moreover, in many cases, you can fund your crypto exchange account using a debit card, depending on your chosen crypto exchange platform and bank.
Note: While choosing a payment method, check the crypto exchange fees since they vary based on your chosen method.
Buy Ethereum ETH in Canada
Once you add funds to your account, you can start buying Ether.
Unlike the stock market, there are no limited market hours; you can buy or sell cryptocurrencies anytime, anywhere.
To buy ETH, you need to enter the buy field in your crypto exchange platform and enter the amount you want to buy.
However, if you are worried about needing more funds to buy a whole Ether token, you can invest $100 instead of $2000, for instance, and get 5% of an ETH coin.
Store Your ETH
You did it!
Now, you are a holder of an ETH token.
But wait, where to store it??
Some crypto exchange platforms will store it for you. However, you can also choose third-party wallets to get one step ahead of hackers.
Either you can choose a hot wallet or a cold wallet. What is that now? Let’s dig a little to know about them.
- Hot Wallet: This type of wallet is connected to the internet. It can be accessed from a PC or smartphone and is highly convenient.
- Cold Wallet: It is an external device disconnected from the internet. Cold Wallet is safer but less convenient.
On the Final Note
How to buy ethereum ETH in Canada is a query of many folks. Its lucrative nature sends an open invitation to those who love to take risks and seek higher returns. This guide will help you to invest in this second-largest cryptocurrency if you are interested. But remember that you should purchase Ether from a reliable and genuine crypto exchange platform that offers a convenient & secure storage option.
Interesting Related Article: “How can Ethereum benefit enterprises?“
