Ethereum has soared this year. More and more people are discovering the platform. And more and more people are using Ethereum. There have been a number of recent ICOs (ICOs area like IPOs on a stock exchange, but they raise cryptocurrency) which have had a lot of press coverage. Whether you believe these ICOs will succeed or not, one thing is certain, Ethereum is starting to get used.
The price of Ethereum is currently somewhere in the $300 range (as of writing), so gone are the days where you could buy in a see your money double a ridiculous amount of times. However there could potentially still be a lot of upside. Many people, including myself, believe ETH (Ethereum) will out grow Bitcoin. That’s just my own opinion, and like all investments, you should do your own research.
Buying Ethereum on Coinbase
The quickest and easiest way to buy actual ethereum is probably through Coinbase. I was able to purchase digital currency (they offer BTC, LTC and ETH) in about 10 minutes after going through the registration and verification process. All of which was very painless.
Depending on where you live, you’ll be able to buy Ethereum using your credit card or bank account on Coinbase.
What can you do with your Ethereum
This depends on your investment goals. You could use your ETH to invest in an upcoming ICO, which will effectively give you a stake in a company similar to a stock. You could choose to sit on your stash and hope that the price will continue to rise as more people use the currency.
One thing to be aware of – don’t store large amounts of any digital currency in a cloud based wallet. You never know what might happen in the future, and a cloud provider may shut down. It’s best to look at storing your currency on your own device (backed up of course!).
ETH can also easily be exchanged into other currencies as well and the market is very liquid.
Investing in Ethereum on eToro
If you’re looking to speculate on the price of ETH, then the best place to do that is on eToro. You might choose this option if you are looking to short the currency, so you can profit if the price goes down. Or you might just want to trade using leverage or just trade ETH alongside more traditional investments like stocks or forex.
If you like to trade using Bitcoin as a base currency, then try Whaleclub. It’s a CFD broker that only accepts deposits of bitcoin.
Will Ethereum be the next Bitcoin?
I’ve written in the past about some of the interesting ways in which Ethereum may be used in the future. It’s certainly seen a lot more use over the past 12 months. And with companies such as Microsoft and Intel choosing to work with Ethereum, who knows just how big it could get. It’s certainly on my “watch” list for the next 12 months.