Ethereum Classic was worth around $1 a year ago. It's now worth around $30. Not a bad return over the past year. It came into existence when a massive hack occured on the Ethereum network. Ethereum forked and began using a new set of rules to mitigate the hack, and Ethereum Classic (which was ethereum) was born.
It's currently ranked in the top 20 cryptocurrencies – and while it's value is nothing like that of Ethereum's, it's still very popular and valuable.
So what's the best way to buy Ethereum Classic? I've put together a few options:
Buying ETC with Fiat Currency
Buying Ethereum Classic using fiat can be a little tricky as most exchanges only accept other cryptos. You may also end up paying higher fees depending on the payment method you use.
Coinspot is a great option if you're based in Australia. They accept bank transfer and Poli. They offer a huge range of cryptocurrencies including ETC.
eToro added ETC trading last year. On eToro you can deposit fiat currency using PayPal, credit cards, bank transfer etc. Then you can buy and sell different cryptos including ETC. When you're ready to take a profit, you can then close your positions and withdraw fiat back to your bank account/paypal.
ETC can also be purchased on exchanges such as Kraken and Bitfinex. You may also need to go through a verification process to begin with which can take a few days to clear.
Buying ETC with other cryptocurrencies
Once you own Bitcoin, Litecoin or another cryptocurrency, it's really easy to buy ETC.
Binance is a popular crypto only exchange. This means in order to begin trading and buying ETC, you need a crypto to deposit. What I do is buy Bitcoin or Litecoin through a site like Coinbase, send it to Binance and then buy the coins I want.
What is Ethereum Classic
ETC is a decentralised platform to run applications. Unlike Bitcoin, ETC wasn't designed just to be a currency – it's built to completely disrupt how computing happens.
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