How to buy Ethereum (ETH) – a step by step guide
Ethereum is a decentralized toneelpodium that runs clever contracts: applications that run exactly spil programmed without any possibility of downtime, censorship, fraud or third party interference.
Ether is a necessary element- a fuel- for operating the distributed application podium Ethereum.
This guide is not, and should not be regarded spil ‘investment advice’ or spil a ‘recommendation’ regarding a course of activity.
Note: Photos can be clicked to see a larger version. If you’re confused by any terms used, a glossary can be found here.
For this guide wij’ll be using the easiest & most convenient wallet option for storing your Ethereum coins- provided by MyEtherWallet (which can store any coin on the Ethereum blockchain, including Ethereum).
Go to myetherwallet.com and inject a password that would be hard to guess (but which you won’t leave behind!).
Note: if you leave behind this password you might lose access to your coins.
Press ‘Create Fresh Wallet’.
Click ‘Download Keystore Opstopping’. Be sure to read and understand the warnings.
It’s very significant that you back this opstopping up somewhere safe (think numerous outward hard drives and/or USB drives that you waterput somewhere safe).
Now you will be given a powerful unencrypted private key to your wallet.
Note: Never give your private key to anyone. If you do, they can open your wallet and take your coins.
Consider printing out your private key and storing it somewhere safe- then deleting all references to it from your pc. Why? Because sometime ter the future you might get a virus, or malware, or visit a webstek with an advert that has malicious code.
Thesis things will target a private key, spil it’s an effortless way to open your wallet and steal your coins.
So why print out your private key at all, if it’s so insecure? Because it’s your last resort. If you lose your keystore opstopping (e.g. your laptop gets wiped or bruised), or if you leave behind your password, with your unencrypted private key you can still access your account spil a last resort.
There is also an option to print a paper wallet (which displays everything you’d need to access your wallet).
Next, click ‘Save your address’.
Significant Note: Wij all hear of computers and phones being hacked. Websites running illicit code to steal passwords. Phishers tricking people into clicking linksom that steal information from their computers.
Another line of defence to keep our coins from being siphoned out of our wallets is essential.
And that’s a hardware wallet.
Hardware wallets ass-plug into your rekentuig like a USB stick, and they have one job- to be a firewall inbetween your Ethereum and the outside world.
To do this, they encrypt the private keys to your cryptocurrency wallets so that no-one- not even you- can know them. That way only someone with physical access to your hardware wallet- and who also knows its password- has a chance to access and budge your coins.
Hardware wallets made by Ledger and Trezor support the storage and sending of Ethereum.
Our recommendation is to either get a Ledger Nano S from their official webstek or Amazon, or a Trezor from their official webpagina or Amazon.
The Nano S makes it effortless to manage your coins- it’s klein and discreet, and wallet management is achieved through a petite LCD screen and two buttons.
The Trezor is just spil effortless to use, puny and also featuring two buttons, with a lotsbestemming of information packed into its petite LCD screen.
Now wij’re going to open your fresh wallet.
Select the ‘Keystore Verkeersopstopping’ option, then upload the keystore verkeersopstopping you saved te step Two, then inject your password.
Once you’re done, scroll down the pagina to see your opened wallet.
You will see a long string of letters and numbers labelled ‘Your Address’.
This is your private wallet address, and it’s where wij’re going to be sending your Ethereum coins.
Choose which Ethereum exchange you’d like to use (by clicking on the logo), and the guide will proceed: