In 2017, Ethereum has grown at an incredibly rapid pace. In fact, the second-largest cryptocurrency by market capitalization may be poised to take over the top of the list, displacing Bitcoin to become the most prominent cryptocurrency in the world in a phenomenon known as the "Flippening."
1. Create an Account on an Exchange
Like other cryptocurrencies, Ethereum must be purchased and sold via an exchange online. There are a number of these services that are available and are considered highly reputable. Some of the most popular include Coinbase, Kraken, Bitstamp, and Gemini. Before you can get started trading Ethereum, you'll need to pick an exchange and create an account.
2. Verify the Account
3. Deposit Fiat Currency
You'll next need to deposit fiat currency into your account, typically via bank or wire transfer. This may take another few days in order to ensure that the money clears.
4. Begin Trading
5. Withdraw ETH Into a Wallet
Once you have purchased ETH through the exchange, you can then withdraw that currency into a wallet that you control. Exchanges can be hacked, meaning your tokens can be stolen. In order to keep your tokens in a private place which you have access to via key, download and install a wallet which has Ethereum capabilities. Run and set up the wallet, creating a new account.
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