Blockchain

How to Buy Ethereum on Coinbase

A step-by-step guide

If you’re looking to buy Ethereum for the first time, you might not know where to get started. This simple guide will walk you through step-by-step how to buy Ethereum tokens through the popular platform of Coinbase.

What Is Ethereum?

Ethereum (Ether or ETH) is also called an alt coin because it is an alternative coin to the first ever cryptocurrency: Bitcoin. Bitcoin is the biggest cryptocurrency out there, and Ethereum is it’s runner up. They both function similarly as cryptocurrencies, but Ethereum has some of it’s own unique features.

Ethereum’s blockchain allows for the creation of smart contracts – a program that creates automatic contracts without a third party. The contracts have many advantages, like being able to execute it’s terms automatically if a certain condition is met.

How to Buy Ethereum

Step 1: Go to coinbase.com

Step 2: Click “Sign Up”

Step 3: Create your account, and follow the steps

Step 4: Once your account is created, click “Buy and Sell” in the top right corner

Step 5: Enter how much Ethereum you want to purchase (a good place to start is $100)

Step 6: Link your bank account

Step 7: Click “Preview Buy”

Step 8: Review your purchase details, and click “Buy Now”

You’ll notice that a small fee has been taken off of the $100 that you’re purchasing. 

This is called a gas fee. Now, there are ways to avoid these types of fees that you’ll encounter when buying cryptocurrencies and minting NFTs – and Ben Yu, master crypto-investor is sharing all of these tips and tricks in the Nas Academy web3 community.

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