How to Buy Ethereum Classic – Complete Guide
Want to know how to buy Ethereum Classic (ETC)? Well, we’ve got the answer. After carrying out an extensive review of the best cryptocurrency exchanges in the world, we’ve found three platforms that provide a safe route to market. On top of that, we’ve also outlined some of the reasons you should buy ETC now. So, if you’re ready to invest in the sister currency of the now famous Ethereum (ETH), check out our guide to buying Ethereum Classic.
Why Buy Ethereum Classic Now?
Why buy Ethereum Classic now? Simple: it’s cheap. For example, if you compared the price of Ethereum Classic and Ethereum in October 2017, you’d see the former was valued at around $11, while the latter was $230. It’s also worth remembering that ETC spawned from the same blockchain. Therefore, based on this, there’s no reason Ethereum Classic couldn’t be as successful or, indeed, useful as its counterpart.
Of course, you shouldn’t be buying ETC just because of its lineage. Fortunately, Ethereum Classic hasn’t stopped evolving. Speaking in September 2018, the director of ETC, Anthony Lusardi, said the number of active dApp developers on the network had doubled following Ethereum Classic’s listing on Coinbase. This basically means ETC coins are now more accessible and, therefore, likely to become even more value throughout 2019 and beyond.
What is the Best Site to Buy ETC?
If you’re comfortable with the fundamentals of Ethereum Classic, the next move is to ante-up. To invest in ETC, you need a reputable broker. As it stands, there are plenty of places to buy Ethereum Classic. In fact, if you check out our list of recommended crypto exchanges, you’ll find a host of solid options. However, as is the case in all walks of life, there’s a hierarchy. Using our experience, we’ve reviewed the brokers and exchanges and selected the standout options when it comes to buying Ethereum Classic online.
We point to eToro when someone wants to know where to buy ETC because it’s a broker. In practice, this means you aren’t purchasing the underlying asset. Instead, you’ll be able to buy contracts for difference (CFDs). The advantage of buying Ethereum Classic CFDs is that you can speculate on the price increasing or decreasing. Even at the best exchange to buy Ethereum Classic, that’s not possible.
If eToro doesn’t suite, check out the table below for some alternatives before reading our 24Option review and Coinbase review.
|Coins Offered||ETC, BTC, ETH, XRP, ADA||ETC, BTC, ETH, XRP, LTC, DASH||ETC, ETH, BTC, LTC|
How to Use the Top Ethereum Classic Brokers
If you’re still wondering where to buy ETC, here’s a quick overview of our top three picks and how the payment process works.
- eToro: After registering an account using our secure eToro sign-up link, the first thing you’ll have to do is make a deposit of at least $1,000. Once you’ve made a deposit, use our step-by-step eToro buying guide to execute your first ETC trade.
- 24Option: After reading our 24Option review and following the registration link, you can input your details and create your first account. Before you can make a deposit, you’ll need to verify your identity. Once you’ve done that, use Visa, MasterCard, Skrill or bank transfer to deposit at least £250. With funds in your account, follow the steps listed in our 24Option buying guide to execute a trade.
- Coinbase: Because Coinbase is an exchange, buying Ethereum Classic is easy. After creating an account, simply choose ETC from the list of cryptos, input how many coins you want to buy. At this point, Coinbase will tell you the price in USD/EUR/GBP and give you the option to complete the transaction using credit or debit card. Once you’ve done that, you’ll own some Ethereum Classic. For more on how to buy ETC via Coinbase, check out our step-by-step Coinbase breakdown.
Our Expert Opinion: Invest in ETC Using eToro
If you haven’t got time to read our eToro review and compare what it has to offer with the rest of the exchanges we’ve assessed, here’s the bullet point list of why we suggest signing up to eToro to buy ETC:
- Regulated by two financial authorities.
- Buy CFDs and have the ability to speculate on the price of ETC going up or down.
- Make deposits easily using Visa, MasterCard and PayPal.
- Well-established and used by six million people.
- User-friendly interface that’s great for novices.
- Transactions are completed instantly.
Buying ETC: Payment Methods
Although Coinbase accepts fiat deposits, other top-rated exchanges don’t. This means you’ll need to buy Bitcoin (BTC) first and then transfer it to your chosen exchange. From here, you can trade BTC for ETC.
If that sounds too much like hard work, brokers allow you to use more familiar payment methods…
- Join eToro and select the deposit now option.
- Choose “credit/debit card” and input your card details.
- Make a fee-free deposit at least $1,000.
- Search for ETC and execute a trade.
- Follow steps 1 and 2 above.
- Deposit at least $1,000.
- Login to PayPal.
- Use your available funds or draw money from your bank.
- Confirm the transaction and wait for the software to take you back to eToro.
How to Buy Ethereum Classic in Your Country
Depending on where you live, buying Ethereum Classic may or may not be possible. What we mean by this is that different countries will have their own rules and regulations. For example, in the UK, the government has explicitly acknowledged cryptocurrencies are a valid asset. In contrast, there are countries such as Bangladesh, where cryptos are illegal. Therefore, before you start buying Ethereum Classic, make sure it’s available and legal in your country.
How to Store Your ETC in a Wallet
If you use eToro, you don’t need a crypto wallet. Because you own contracts (CFDs) rather than digital coins, everything is handled by eToro. In contrast, if you buy Ethereum Classic via an exchange, you’ll need a wallet. Our guide to storing digital coins will give you the lowdown on the top products out there. However, in general, there are two types of wallet: online and offline. The former is more accessible, but the latter is the safer option because your tokens are stored on a USB stick that’s not connected to the internet.
Other Ways to Get ETC
If you don’t want to buy Ethereum Classic, you can mine it. In practice, mining is something only experts should do.
To learn more about the process, visit our crypto mining hub. When it comes to ETC, you’ll need to complete the following steps:
- Download Geth so you can connect to the Ethereum Network.
- Install the software and tell the command prompt to create a new account.
- Download and install an Ethereum miner like Etherminer.
- Run the two programs and your computer will contribute to the Ethereum blockchain and you’ll be able to earn ETC.
Buy Ethereum Classic Online
ETC has had a varied price hsitory
Now you know how to buy Ethereum Classic and where to buy ETC, the only thing left to do is invest. Although it’s for you to decide whether this crypto is for you, we’d urge you to take it seriously. As a blockchain, Ethereum Classic has all the attributes needed to become a mainstream hit. Add to this the fact it’s affordable right now and you’ve got a potentially valuable asset.
Assuming you agree with that, our top three picks listed below should be your go-to platforms. As well as being secure, each one is easy to use and offers plenty of payment methods. If you’re only willing to use one, eToro would be the best. However, any of our recommended brokers will allow you to buy Ethereum Classic safely.
Ethereum Classic FAQs