Created in 2013, Ethereum is an online exchange protocol for creating decentralized applications. Ethereum is therefore not only a currency, but a network of blockchains (technology for the storage and transmission of cryptocurrency transactions). Operating on the classical principle of a blockchain, the Ethereum network is made up of thousands of connected users worldwide (network nodes). This network produces a cryptocurrency: Ether. After Bitcoin, Ether is the most widely used cryptocurrency in the world. You can follow the Ethereum live course on our dedicated page.
How to buy Ethereum on the Binance exchange platform? As with any application, you must first create an account on Binance. Then you need to fund your account to be able to purchase. For this, several options are available to you, let’s discover them.
Trade Ethereum for another cryptocurrency
Until September 2019, trading against another cryptocurrency was the only way to buy Ethereum on Binance. You must therefore first have an amount of cryptocurrencies, by buying them on specialized platforms such as Coinbase.
Transfer your cryptocurrency to Binance
Money transfers are easily done on Binance. To do this, you must click on the ” Funds “Then select the option” Deposits ” Once you have selected the correct cryptocurrency, you will receive a unique address (the equivalent of a bank account RIB). Use this address on the site where you have your coin account to order the transfer to Binance.
Once the transfer operation is completed, you will be able to see it appear on the deposits page.
You must now perform exchanging your coins. Thanks to the intuitive nature of the Binance platform, all you have to do is let yourself be guided.
By going to the ” Trade “Then by choosing the option” Fundamental “, You get to the trading interface. On the menu on the right, you must select the currencies you wish to exchange. For example, if you have Bitcoins that you want to exchange for Ethereums, select the ETH / BTC pair. The box ” Market Is the easiest to use since it allows you to buy Ethereums directly at market prices. Set the amount of Ethereum you want to buy and click on ” Buy ETH “
Don’t have a cryptocurrency yet? Are you looking for an easier way to buy Ethereum? Know that since September 2019, it is possible to buy Ethereum directly with fiat currency, i.e. fiat currency like the euro, the dollar, etc. So let’s take a look at the two options available to you for this.
Buy Ethereum with your credit card
The purchase of Ethereum by credit card is very easy to do on Binance. On the home page of the platform, you must select the menu “Buy crypto”.
You then arrive at an interface that offers you to buy, sell or convert cryptocurrency. Enter the amount of your transaction by selecting the currency of your choice, and select the cryptocurrency that interests you (Ethereum). You then have an indication of how many Ethereums you can buy with this amount. Then you just have to select “ Credit / Debit Card ». Remember to register your card by clicking on ” Add a map “ to simplify future operations.
Buy Ethereum by bank transfer
The bank transfer is yet another way to buy Ethereum. From Europe, you can make your transaction by bank transfer using the dedicated platform, Binance Jersey. It allows you to buy Ethereum from a transfer made in euros or in pound sterling. Once you have registered, you need to go through the identification process and create an account which you can use to purchase cryptocurrencies. You can fund this account by transfer from one of your personal bank accounts.
What should you remember to buy Ethereum on Binance?
Since 2019, there are several possibilities to buy Ethereum on Binance, making operations more accessible to beginners.
Whereas before it was only possible to buy Ethereum by exchanging it for another cryptocurrency, it is now allowed to buy Ethereum directly by bank card or bank transfer. Note that the latter means of payment requires that you go through a specific platform, Binance Jersey.
With Binance, buying Ethereum is accessible to everyone! Thanks to its ergonomic interface and the new features implemented, you can now buy Ethereum in seconds by trading, by bank card or by bank transfer.