How You Can Buy Ethereum Classic in the UK
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Ethereum, the eternal number 2 - according to market capitalisation - behind Bitcoin, may be one of the best-known cryptocurrencies or projects associated with the crypto world. Besides Ethereum, there is Ethereum Classic.
But what to look out for when investing in Ethereum Classic? Is there a difference between Ethereum and Ethereum Classic? And should one rather invest in Ethereum or might it be advisable to pump part of one's savings into Ethereum Classic?
It is important to get to grips with the differences here in order to get an overview at the end. This is the only way to make the right decision for yourself, whether you prefer to invest in Ethereum or Ethereum Classic.
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Buy and sell cryptocurrencies directly in the wallet
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Buy Ethereum Classic: What should you look out for in order to buy Ethereum Classic cheaply and safely?
When it comes to buying Ethereum Classic cryptocurrency coins, you will have to pay attention to the fees first and foremost. This is because the fees reduce the potential profit if you plan to invest in Ethereum Classic in the long term.
In addition to the question of how high the fees are, you should also clarify that you are dealing with a reputable provider. Sometimes, testimonials found on the internet can help you to be sure whether it is a recommendable provider or not.
Where to buy Ethereum Classic cheaply? Our broker and exchange comparison - buy Ethereum Classic with the lowest fees:
If you want to buy Ethereum Classic cryptocurrency coins, it is advisable to compare exchanges beforehand. This is because every crypto exchange works with a different fee model - some exchanges convince with low prices, while other exchanges surprise in a negative way, as high fees are charged here. Since fees reduce profits, it is important to make an appropriate comparison.
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What is Ethereum Classic?
Ethereum Classic is a decentralised, secure and censorship-resistant blockchain that is, so to speak, the continuation of the Ethereum blockchain. After the controversy surrounding the DAO hack, the Ethereum project was split into two parts. For this reason, there is now Ethereum and Ethereum Classic. The goal pursued by Ethereum Classic? The same as Ethereum. It is about a public platform so that smart contracts and decentralised dApps and/or apps can be operated.
Ethereum Classic runs on an unmodified version of the classic Ethereum blockchain. The philosophy here is to put code above all else; if there are exploits or compromises, the goal is not to remove them through hard forks that would subsequently damage code integrity. The team behind Ethereum Classic is convinced that maintaining the immutability of the ledger does not allow for human interference.
Our recommendation: Buy Ethereum Classic at eToro
Incl. wallet
Buy and sell cryptocurrencies directly in the wallet
Paypal, credit card and instant bank transfer
Regulated provider
Real cryptos or CFD trades
The Ethereum Blockchain, which was originally launched, created a very complex smart contract called the Decentralised Autonomous Organisation - DAO for short. A digital venture capital fund created to finance dApps. Anyone who wanted to have a say had to buy a DAO token with Ether, the platform's cryptocurrency, in order to be able to participate in the decision on which dApps should be funded.
In order to obtain the necessary funds for dApps, 20 percent of all votes of the DAO token holders were required. The transparency and versatility of this smart contract ensured that tokens worth more than 150 million US dollars were sold in a very short time. After buying into the DAO system, the exit was relatively complex - including a loophole. Because the "split function" made it possible to get Ether, but these could not be paid out for 28 days. A hacker used this loophole and stole a third of the coins, which were around 50 million US dollars, from users who tried to exit the DAO system.
To fix this serious flaw, it was possible to implement a hard fork. Thus, the blockchain was reset to its previous state - the 50 million US dollars stolen by the hacker were recovered and subsequently credited to those stolen. At this point, there was also the ideological split - and Ethereum Classic was born. For suddenly the impression was given that Ethereum was an authority that had decisively intervened to undo mistakes.
Provider | etoro | Plus500 |
|---|---|---|
Deposit | free of charge | free of charge |
Purchase fees | 5% | 3,08% |
Holding fees | free of charge | 0,05% |
Sales charges | 5% | 3,08% |
Payment | 5 USD | 1,9% |
Total fees | 101,69€ | 92,32€ |
What are Ethereum Classic CFDs (certificates)?
Ethereum Classic CFDsYou can buy coins of a cryptocurrency, store them in your wallet and hope that the price of the digital currency will rise. But you can also buy Ethereum certificates. That is, one decides to trade CFDs. In this case, you don't buy any coins, but only speculate on the price movement.
The advantage? You can earn money even if the value of the cryptocurrency falls. Provided you have opened a so-called "short" position in advance. Profits are then booked when the price rises and you have opened a "long" position.
There may be one or the other advantage, but CFD trading is not without danger. The volatility of the market should not be underestimated - it can always go up as well as down. Therefore, it is important to only invest money in the course of CFD trading that is freely available.
Buy Ethereum Classic as CFD or real cryptocurrency?
If you do not want to buy Ethereum Classic coins, it is advisable to opt for CFD trading. If, on the other hand, you do not want to take too high a risk, it is sometimes advisable to invest directly in the cryptocurrency. Because even though there is a risk here that should not be underestimated, it may not be as extraordinarily high as in the course of CFD trading.
Ultimately, however, it is also a matter of one's own strategy. Those who want to speculate on short-term price fluctuations will probably be enthusiastic about CFD trading. All those who believe the price will rise in the long term are probably well advised to invest in Ethereum Classic directly - in other words, to buy coins.
Buy Ethereum Classic shares: Another way to invest in ETHEREUM CLASSIC
If you want to invest in Ethereum Classic shares, you will notice that there are no pure securities here. This means that you have to look for public companies that then have something to do with Ethereum Classic. However, it is impossible to say whether the rising or falling price of Ethereum Classic will have an impact on the share price.
Ethereum Classic Buy or Sell? Our pros & cons analysis:
It is important to ask yourself in advance at what price to buy and then sell again. Because in the end, investing in cryptocurrencies is all about catching the right window of opportunity. It doesn't matter whether you trade with CFDs or invest for the long term and try to take profits again and again, which can then be reinvested. There are different approaches and different strategies, so you should first identify your personal philosophy: Invest for the long term, no matter what the price movements are, and only sell when the desired price level has been reached, or sell coins again and again and buy more when the price has fallen?
How high are the fees when buying ETCs?
High fees eat into profits. Therefore, it is important to look into the fee model of the broker or exchange in order to avoid a nasty financial surprise when you want to buy or sell Ethereum Classic.
Ethereum Classic Price: Important Moments in the ETC Price History
At the beginning, the price of Ethereum Classic moved in the range of 1.05 US dollars - again and again it went below or above the 1 US dollar mark. On 17 June 2017, the first breakout occurred in the direction of 24 US dollars - followed shortly afterwards by a correction below 10 US dollars. The next high, which could be observed at the end of early 2018, brought Ethereum Classic to 44 US dollars (39.74 euros). This is also the highest price that the cryptocurrency has reached so far.
At the moment, Ethereum Classic is between 10 US dollars and 20 US dollars.
Buy Ethereum Classic with or without a wallet?
eToro WalletEthereum Classic is a cryptocurrency. Anyone who wants to buy coins of this currency needs a wallet. It is not possible to store coins without a wallet. If you use eToro's service, a wallet is provided.
Ethereum Classic Buy PayPal: Where to Buy Ethereum Classic with PayPal
PayPal LogoPayPal is an increasingly popular online payment service. However, this does not mean that every provider accepts PayPal. To be able to buy Ethereum Classic with PayPal, you should check in advance whether this payment method is accepted by the provider.
Buy ETC at bitcoin.de, coinbase, binance, Bison & Comdirect - Why we recommend eToro as an alternative:
Due to the fact that eToro is a broker that provides the services of an exchange, the provider is convincing across the board. eToro is also regulated and beginner-friendly. In addition, eToro convinces with a very fair fee model.
Does it make sense to invest in Ethereum Classic? Which cryptocurrency is the best investment?
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With a few little tricks, nothing stands in the way of Bitcoin investment via shares. | Those who got into Ether early have been able to reap fantastic returns. | How about a successful cryptocurrency? Here is IOTA! | Ripple is undoubtedly popular and can now be traded in a wide variety of ways. | Ethereum Classic is volatile and high-risk. So how about more traditional stocks? |
ETC Trading - Should you hold Ethereum Classic for the long term or trade it for the short term?
On the one hand, Ethereum Classic can be recommended if you are pursuing a long-term strategy, but it is also interesting if you want to make short-term profits. Ultimately, you have to answer the question for yourself of how high the risk you want to take should be.
Ethereum Classic
..buy offline possible?
In order to buy Ethereum Classic cryptocurrency coins, you need to be connected to the internet.
..buy anonymously possible?
Access to the crypto market is provided by the crypto exchange or broker. This means that since registration is required in advance, there is no possibility to buy Ethereum Classic anonymously.
..buy without verification possible?
A reputable provider will require verification. This often has to be done in the course of a withdrawal request.
..buy without registration possible?
As already mentioned, it is necessary to use the services of a broker or an exchange. This means that buying without registering will not work.
How to sell ETC again: Our guide for eToro
When Ethereum Classic has reached the desired price, you can then enter the amount in euros that you want to be paid out, so that eToro calculates how many coins you have to sell for this. You can also enter the number of coins and then have eToro calculate how many euros you would receive for them.
Buy Ethereum Classic Conclusion - Our recommendation:
Even though Ethereum Classic is (still) overshadowed by Ethereum, it may be interesting to take a closer look at this Ethereum alternative.
Our recommendation: Buy cryptos with eToro
Incl. wallet
Buy and sell cryptocurrencies directly in the wallet
Paypal, credit card and instant bank transfer
Regulated provider
Real cryptos or CFD trades
FAQ
Ethereum Classic can be bought via any exchange, provided the cryptocurrency is offered.
One acquires cryptocurrencies via an exchange. If you use the services of a broker, you can also work with other assets and speculate on price movements.
If the crypto market gains strength, it may well be that the value of Ethereum Classic can also rise over time.
In this case, check whether the wallet also allows other cryptocurrencies in addition to Bitcoin. If this is the case, you can store Bitcoin with Ethereum Classic in one and the same wallet.
Just look at the list provided by the crypto exchange.
Ideal for all those who want to use the services of a broker and an exchange - eToro is an absolute recommendation.
