Ethereum is the 2nd largest crypto asset after Bitcoin. How to trade, buy and sell eth(Ethereum) safely and reliably? find the answer below. Ethereum, code ETH, is a Blockchain with Smart Contract functionality. A smart contract that doesn’t exist in Bitcoin and is developed by ETH.
Ethereum is currently a virtual currency with the 2nd Marketcap after Bitcoin. The price shot up following the development of the price of other crypto assets. Ethereum is one of the crypto assets that is regulated and legal to transact, according to the Government Regulations of each country. So, Ethereum is legit.
The following is a legal, safe and reliable way to trade, buy and sell eth (Ethereum) Crypto:
Crypto Exchange Broker
The first step is that we have to open an account with a crypto exchange or broker. Exchange is a place to buy, sell and store cryptocurrencies, including Ethereum. Crypto exchange is legal and regulated by the Government of each country. So, Ethereum transactions on exchanges are not unlawful.
The most important thing to note is that the government in each country establishes several registered and licensed Ethereum exchange companies, one of which is well-known cointree.com. So, we should open a cryptocurrency account at a company that is already registered with the government.
The account opening process is as follows:
• Fill in the data for registration, namely the full name that matches the identity (ID card, driving license, or passport), email, and password that will be used to access the account.
• Upload photo of identity card (ID card, driver’s license, passport) and selfie photo.
Several things can cause an account verification request to be rejected.
• Be under 18 years of age.
• Photo Identity Card is cut off and/or cannot be read clearly.
• Selfie photos do not comply with the provisions, the face cannot be seen clearly, and/or the verification paper cannot be read clearly.
• Identity card number has been used in another account.
If verification is rejected, we can submit a verification request again, but the application process will wait for the queue from the beginning again.
Deposit Money
After successfully opening an account at one of the crypto exchanges, the next step is that we have to deposit money into a predetermined account to be able to buy and sell eth. Each exchange has a minimum deposit required to be able to open an account.
The exchange accepts deposits in various ways, namely:
• Bank transfer
• virtual accounts
• e-wallet
What distinguishes this method of deposit is a matter of fees. Deposits using virtual accounts and e-wallets are usually charged, while bank transfers are free.
Buy Ethereum
Next, after successfully depositing funds on the exchange, we can already purchase crypto assets. There are many types of crypto assets because basically everyone can create crypto according to the project they want.
The price of Ethereum is formed as a result of the dynamics of supply and demand in the marketplace. That’s also why the price of Ethereum on one exchange can be different from another. After a buy order occurs, the Ethereum balance is increased. Instantly visible in the app Ethereum balance position and conversion value.
Ethereum balances are stored in exchange managed wallets. We can transfer Ethereum to another exchange or move to a private wallet to further maintain its security.
Sell Ethereum
The Ethereum balance on the exchange will reflect the number of Ethereum units we have. Every day the value of Ethereum against Fiat currencies will always change because the value of Ethereum in other currencies changes. To sell Ethereum, we have to re-select a pair, namely Ethereum.
Orders to sell Ethereum can be made in two options, namely:
• Market orders. The order is executed immediately according to the current market price because it matches whatever price is available at that time.
• Limit Orders. The order will wait until the market price touches the price we set.
After the sale of Ethereum occurs, the money will go to our wallet on the exchange. We can see the Rupiah balance in the exchange application wallet. Next, we can use the balance to buy other crypto assets on the exchange, or we transfer money to a personal account or electronic money that we have.
Bank Account Transfer
The process of withdrawing the balance on the exchange is very easy to do. We only need to select the withdraw or withdraw menu available in the application. Enter the withdraw money menu, then we have to enter the account number, name, and destination bank for the money transfer.
On some exchanges, for security reasons, we can only transfer withdrawals to accounts that have been exchanged verified. Register our account first at the beginning by providing the bank name, bank account number, and the name of the bank account owner (must match our name). An exchange will send a notification once the bank account has been successfully verified.
Some important things to note about bank accounts, namely:
• Banks that can be registered in the crypto exchange application must be registered in your country.
• Cannot be transferred to banks in different countries.
• Balance withdrawals are generally accepted and processed 24/7, including holidays.