The rapid growth in cryptocurrency rates in 2021 fueled the population’s interest in buying them to generate a good income. Therefore, we decided to find out where and how to buy Ethereum — the second-largest cryptocurrency by market cap and popularity, after Bitcoin. Let’s get started!
When to Buy Ethereum: Key Things to Know
The high volatility of the crypto market theoretically makes it possible to make good money on digital assets. But for this, you need to figure it out: when to buy and when to sell. So, when to buy Ethereum?
One of the simplest ways to determine when to buy is to assess market sentiment, news background, and other fundamental factors. For example, what prospects does a project developing a cryptocurrency have for the near future, what can go wrong and negatively affect its cost. Unfortunately, it is not always possible to assess this with one hundred percent certainty.
How can I buy Ethereum? What will help me to choose the right moment? Well, it is equally important to be able to analyze the graphs of the ETH rate. There is an opinion that technical analysis does not work on the crypto market due to its susceptibility to manipulation and high volatility, but this is not the case with Ethereum.
Instead, it refers to low-liquid altcoins that can show price fluctuations in the tens and hundreds of percent per day. However, with larger projects, especially with Ethereum, technical analysis will be an excellent assistant for choosing the right moment to buy.
So, how to buy Ethereum? As mentioned before, technical analysis can help understand in which direction the market is moving. For example, if the market is bearish now, and the asset is gradually becoming cheaper, then buying it may not be entirely correct — it is better to wait for reversal signals.
Therefore, it is necessary to buy ETH in a bull market very carefully, preferably on pullbacks or corrections. At the same time, if the bull market has been going on for a long time or the asset has shown significant growth, it is most likely not worth buying since there is a high probability of a correction.
How Much Ethereum Should I Buy?
You may wonder ‘How much Ethereum should I buy?’, and here comes another important rule. It’s more reasonable for traders and investors to enter a trade in parts. There is no need to guess the perfect moment to buy as most likely you will not be able to do this. Even the most experienced traders and investors make mistakes, let alone ordinary users who do not trade digital assets 24/7.
Thus, you can make the purchase of Ethereum as efficient as possible if you buy in parts, as this will average the price of entering the market. Purchase of an asset in small shares at different prices will multiply your chances of a successful investment. At the same time, the time that remains between transactions will allow you to think again and assess the situation on the market.
Once we have considered the most important questions relating to investing, let’s finally find out where to buy Ethereum!
Where to Buy Ethereum: Switchere Exchange
If you’re wondering where to buy Ethereum, you should definitely think about buying it at Switchere. On our platform, you have an opportunity to buy ETH in the fastest and most convenient way. Moreover, we offer some surprising bonuses! Users of our platform enjoy a 0% service fee for the first order.
How to buy Ethereum with USD? At Switchere, you can buy crypto for fiat money or swap crypto for crypto. In addition to traditional purchases with a bank card, you can use alternative payment methods available (SEPA, SOFORT, Asian local banks)
Here is an easy step-by-step guide on buying ETH at Switchere!
- Visit our website and log in to your account.
- Choose the currency pair for exchange as well as a payment method and enter the amount. Don’t forget to check the transaction details by clicking on ‘Details.’ Once you’ve done, click the ‘Buy’ button.
- Specify your Ethereum wallet address and click on the ‘Buy’ button.
- Enter your card details and click on the ‘Pay Now’ button. Please take into account that you have a limited amount of time to send your funds. Elsewise, the transaction will be canceled automatically.
- Once you send the funds and your transaction receives the required number of blockchain confirmations, the amount of purchased ETH will be sent to your provided wallet address accordingly.
- Congratulations! The transaction is completed, and now you can check your Ethereum wallet.
Usually, Switchere transactions take 5-30 minutes. If you have any troubles with the exchange process, let us know at [email protected].
Today, we’ve considered one of the most popular questions — how do I buy Ethereum? It’s necessary to approach cryptocurrency trading with a cool head, do not panic in the event of a slight drawdown in the rate, and of course, do not buy ETH when its price rises sharply.
What other tips and tricks on buying Ethereum do you know? Feel free to share your knowledge in the comments!