Ethereum is a platform which makes it possible to run various applications know as smart contracts. By abuse of language, this word is used to designate the cryptocurrency that emanates from it, namely the Ether. It is currently one of the alternative virtual currencies to bitcoin. To trade this cryptocurrency on an exchange, here’s what you need to do.
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CHOOSE THE CRYPTO EXCHANGE PLATFORM
The first thing to do to start trading Ethereum is to choose your crypto exchange platform. With the development of the cryptocurrency market, trading platforms continue to multiply. Not all brokers are trustworthy. To make the right choice, use criteria such as:
- the reputation of the broker by consulting customer reviews;
- site security (the protocol used must be HTTPS and not HTTP);
- the value of transaction fees;
- available currency pairs, etc.
Also, be sure to choose a platform that provides real-time ethereum price information. Thus, you will know how to determine the opportune moment to carry out your transactions.
Yous can see a list of the best brokers and trading platforms on 1broker.org
CREATE AN ACCOUNT
Once you have chosen your virtual currency exchange platform, you can create your trading account. You will need to enter your contact details (last name, first name, email address, password, place of residence, etc.). A message will be sent to you by email to verify your identity. After that, your account will be validated and you will need to attach a deposit method accepted by the platform to it.
SELECT CRYPTOCURRENCIES TO KEEP AND TRADE
To trade Ether on your exchange platform, choose the other currencies (virtual or not with which you will carry out your transactions. You have the possibility of opting for a host of currencies. You can, for example, associate the Ethereum and Bitcoin (ETH / BTC), Ethereum and Ripple (ETH / XRP), Ethereum and Pound Sterling (ETH / GBP), Ethereum and US Dollar (ETH / USD), etc.
MAKE THE INVESTMENT
You know the transactions you want to make. All you have to do is get into trading by making your first investment. On an exchange platform, several options are offered. One of these is the buy order which allows you to buy Ethereum at the price at which it is traded or at the specified price that you set. Next, we have the sell order which indicates when you are going to sell the Ethereum you have stored. The “Put and Call” option allows you to trade the price of Ethereum down or up in the market. Other options like Market Order, Limit Order and Stop Loss Order are available on exchange platforms.
RECEIVE YOUR TOKENS AND TRANSFER THEM
The tokens generated by your Ethereum trading are automatically deposited into your account. The trading platform is like an online wallet that operates in real time. It therefore stores the coins and makes them available for trading. For the safety of your money, we recommend that you regularly transfer your tokens from the trading platform to your own crypto wallet. In case you want to choose a wallet, you can read the Payeer Reviews and compare this offer to others.