Buy Ethereum (ETH) in the UAE
How to buy Ethereum (ETH)?
First, let's look at how the history of this currency began? Ethereum is a cryptocurrency and platform for creating decentralized blockchain-based online services (decentralized applications) based on smart contracts. It is implemented as a single decentralised virtual machine. The concept was proposed by Bitcoin Magazine founder Vitalik Buterin in late 2013, the network was launched on 30 July 2015.
Ethereum was originally created not so much as a payment system, but rather as a basis for the affordable implementation of blockchain technology in third-party projects. Not only new start-ups, but also major developers, banks, airlines and an international charity have shown interest in it.
Its creators describe Ethereum as modern, rare digital money that is protected by cryptographic methods, owned only by its owner and suitable for p2p transactions. Ethereum cryptocurrency (ETH) is also a convenient means of payment and a tool for small investors and traders around the world.
Beginners and pros alike continue to invest in Ethereum because the coin is the second most popular currency after Bitcoin. Many of its competitors are referred to as modified versions of it. Cardano, for example, is a Japanese version of Ethereum, while NEO is a higher-speed version.
If you buy ETH, you should know that it, like any cryptocurrency, has no backing or attachment to anything. It is not backed by stocks, natural resources or gold reserves. This leads to high volatility in the exchange rate. But a review of the Ethereum cryptocurrency shows that developers are finding mechanisms and approaches to push the price up and prevent prolonged falls: burning some coins, making blockchain mining more difficult, regular forks, and increasing investor interest.
What affects the price of a cryptocurrency
The change in price depends on different factors:
- The exchange rate of the first Bitcoin cryptocurrency and the general market mood (bullish or bearish).
- Performance or even announced forks. The positive trend is set by updates related to increasing the scalability of the network. On the negative side, the activation of a difficulty bomb and so on.
- Media publications. News from celebrities affects the course.
- Legislative changes.
- Decreases/increases in equipment requirements for efficient mining.
- Support from large institutional investors.
Where to store Ethereum cryptocurrency
If you managed to buy the asset itself, you can keep the coins in an exchange account after the transaction. But it is better to transfer them to a wallet. Dozens of models support Ether. But the value of the currency is quite expensive, so many people prefer to speculate on changes in its value with reliable brokers. More about that in the next chapter.
Analysis and Forecasts
The cryptocurrency is the second most capitalised currency. It has even surpassed Bitcoin in popularity in some countries.
The launch of the first version 2.0 updates was an important and long-awaited step. This is likely to lead to a significant rise in the rate. Most forecasts agree that the coin will trade between $2700+ and $10,000+ in 2022-2023. And the growth will be steady without sharp drawdowns.
How to invest in Ethereum (ETH)?
While most cryptocurrency investors prefer to stick with bitcoins, it is important to remember that there are thousands of other innovative digital coins on offer.
Ethereum (ETH) is a relatively new cryptocurrency on the market. Unlike the others, it operates on a proprietary settlement platform, operating on a continuous transaction chain or 'blockchain'. With its growth, investors are justifiably wondering how to invest in Ethereum and whether it is worth it at all.
Ways to make money
Recently, there has been a bull market in cryptocurrencies, which has meant an increase in the acceptance of all types of digital assets, which has increased the legitimacy and popularity of cryptocurrencies in general. Financial institutions, investment firms, corporates and retail investors are coming on board, many for the first time.
If you are interested in taking advantage of the opportunities offered by the cryptocurrency space, you may be wondering where to start.
Profiting from cryptocurrencies is not only available through mining. Investing, trading are also available to users.
Since its release, the cryptocurrency's price has risen by 700,000%+. This already proves its promise for investment. Analysts estimate a return on investment of 100,000%+. This is very high when compared to many other cryptocurrencies. Considering that there is a transition to a new type of consensus achievement in 2021-2023, the scalability of the network will increase significantly. This will set the stage for the price to rise.
You can invest in Ethereum in the UAE through cryptocurrency exchanges. For example, Binance, the largest in terms of trading volume. Which has been operating since 2017 and has proven to be reliable. According to users, Binance is one of the best Ethereum-enabled cryptocurrency exchanges on the market. This is due to the large number of pairs and low exchange fees.
Exchanges are popular with novice crypto investors as they tend to be more intuitive and more likely to offer dedicated 24/7 support through various social channels and chat rooms.
Keep in mind that not all exchanges support buying ETH and other cryptocurrencies directly with fiat money, such as euros or dollars. More often than not, you will need to buy stabelcoins first, with which you will then buy Ethereum.
Ethereum (ETH) Trading Platform
High volatility means that the price of a coin is unstable. This can be used for trading - buying at a depressed rate and then selling more profitably. Brokerage platforms offer both CFD trading and leveraged trading.
CFD means that you do not have to buy the asset itself, you enter into a contract to change its value.
If you want to invest in digital currencies, you don't have to buy and sell cryptocurrencies on an exchange. One way to minimise your risk, especially if you're relatively new to cryptocurrencies, is to use an automated platform that is integrated with numerous exchanges.
An increasingly popular way to make profits safer and easier is to trade on cryptocurrency.
What will trading with a brokerage platform get you?
- Easy even for beginners with an opportunity to start with a demo account.
- Minimum deposit! Start with $10!
- Comfortable and user-friendly interface.
- Low commissions and free registration!
- Any opportunity to diversify your portfolio with different assets, which may include not only cryptocurrency.
Is it safe to invest in Ethereum online?
Yes, it is safe. Security is one of the biggest advantages of the Ethereum platform, and thus the currency itself.
Applications built on its blockchain (called dApps or decentralised applications) are much more secure and less vulnerable to hacking than traditional software.
When you want to speculate on the value of an asset rather than acquire it, all you need to worry about is the reliability of your broker platform. The most important thing to do in that case. You need to be sure that the company has been around for some time. This will demonstrate its reliability in addition to the degree of security it provides.
How to start investing in Ethereum (ETH)?
So, what are the first steps you need to take to buy Ethereum in the UAE and start making a profit from scratch? The most important thing is that you have already found a reliable broker. Then follow the simple instructions.
Register with a broker
First, you must go through the registration process. This is free and does not bind you to anything. You just enter the standard details in the system. Be careful and give correct data.
Then wait for a reply by email and follow the link. Done. You are now one of a million traders! Congratulations! Next you need to choose which account you want to trade in.
This account will be good for your first experience. If you have time, and you don't want to make any real profits, but still want to learn, this account is for you. But do not abuse it for too long. It is better to spend your time on real trades and get paid for it.
To open such an account, simply choose the menu with : practice account. In this account you will already have a virtual amount of money, so you can start trading!
If you are ready to do some real trading:
- You will need to enter your additional data for your security.
- Next, click here to fund your account.
- Choose your preferred payment method. As a rule the most popular method is a debit card.
- You will also need to fund your personal account with the minimum deposit amount, set by the broker, usually around $10. It is ready!
Profit you will also withdraw from this account. It is also convenient for tracking your operations on it. Analyse your deals and change your strategy, if necessary.
Is Ethereum a good buy?
Absolutely! Because it is a fast-growing and promising currency.
Is Ethereum a good long-term investment?
Many analysts will say - yes! Just look at graphs of the past few years, and you see a steady, planned growth.
Where can I buy Ethereum?
The most convenient method for a beginner, a brokerage trading platform, where you can start earning with a few dollars!
How do I buy Ethereum with a credit card?
Select the top-up with a card menu and enter your card details. Check very carefully if your input is correct. If something is filled incorrectly, the procedure may take too long.