Buy Ethereum (ETH) in Nigeria
How to buy Ethereum (ETH)
If you are one of those people who are intrigued by making money from exchanges, you may want to learn more about the potential of the digital asset Ethereum.
The currency Ethereum (ETH) was created to pay for services provided by the platform of the same name. It has a long history and a strong development team. The Ethereum blockchain project needs to be viewed holistically: cryptocurrency, network and platform.
One of the thought leaders, founding developers and actually the first face of Ethereum is Vitalik Buterin, a Canadian programmer originally from Russia. In 2011, Buterin began to study bitcoin and blockchain principles closely. For two years, he sent out an Ethereum white paper through friends and acquaintances and eventually found initial investors who helped him build the platform.
In 2014, Ethereum held an ICO, which raised 31,191 BTC (more than $18 million at the time). Investors received 60,102,216 Ether.
Ethereum gained recognition in March 2016, when the quality of the platform stabilised with the release of the new Homestead protocol.
The popularity of the project took off, and Ethereum began to attract new investment. The community grew rapidly.
Large banks, investment funds and corporations became interested in the Ethereum project. They began creating their own decentralized programs and smart contracts on the blockchain. Ethereum's versatility, practicality and flexibility were appreciated even by those who were initially against the cryptosphere.
At the end of 2020 and beginning of 2021, the exchange rate for Ether has risen dramatically. Like other coins, the ETH exchange rate is affected by the rise of bitcoin, still the world's leading cryptocurrency.
Why invest in Ethereum:
- Institutional investors and banks are interested in the ETH token.
- Ethereum is listed on almost all major exchanges.
- Ether's blockchain is used in major smart contracts and crypto-projects.
- Thanks to the competent work of the team, Ethereum is recognizable and has a strong community.
- As with other digital coins, Ethereum is successfully used as a payment instrument, a means of savings and for investments.
But the main value of Ethereum is that its features and capabilities are much broader. But the main value of Ethereum is that its features and capabilities are much broader. GB. It is this feature that underpins the popularity of the ETH. After all, app developers and smart contract creators pay ETH to use the Ethereum platform, which boosts demand for the coin.
If interest in the platform and the features it provides continues to grow, the value of ETH will increase. It is even conceivable that, over time, the Ethereum cryptocurrency will overtake the first cryptocurrency in terms of capitalization.
Analysts note that the cryptocurrency, in general, is moving in the wake of bitcoin (BTC), albeit with more volatility. That makes it in demand among traders. Analysts also point out that the cryptocurrency has risen almost threefold since the beginning of the year. Against the backdrop of positive movement, it believes ETH still retains a large additional upside potential.
How to invest in Ethereum (ETH)?
Ethereum is a relatively new cryptocurrency on the market. Unlike others, it operates on a proprietary settlement platform, operating on a continuous transaction chain or 'blockchain'. With impressive growth since its inception, investors are justifiably wondering how to buy Ethereum and whether it is even worth it.
Most analysts agree that it is certainly a promising project that could change the way we think about things. As a distributed and open virtual machine, Ethereum runs any decentralised software. The platform is inherently an ecosystem that distributes data around the world. They cannot be altered or manipulated, nor can they be deleted.
This technology is used in many countries in a myriad of sectors: medicine and public administration, logistics and finance.
It has made the following functions available:
- Forming complex smart contracts for supply management.
- Launching applications of various categories (services, games, etc.).
- Conversion of a token into any asset (including precious metals and stones).
- Creation of user identification services.
- Document authentication services.
- Regularly emerging applications based on Ethereum are one of the reasons why the cryptocurrency holds the second place in the ranking.
Ways to make money
Many people who are just starting out in investing don't know where to start or what to look for. They get lost in the vast majority of information available. It's simple enough. There are several options for making a profit.
Firstly, it is possible to invest in Ethereum for the long term. Ethereum appreciates against the dollar every year. And it grows at times, that is, by hundreds of percent. You can buy the asset itself through an exchange or through an exchanger, then you can leave the money stored on the exchange or transfer it to a pre-prepared cryptocurrency wallet. Many would call the Binance exchange the most reliable and easy to use for you to buy ETH.
Second, Ethereum can be created independently by computing new blocks (in essence, new Ethers) on your computer. This process is also called mining. But that requires special equipment and special knowledge.
But the easiest way to earn on this currency is trading. This is a rather volatile financial asset, so you can earn on its ups and downs. If you do not have huge capital to part with for a long time, you can use short-term CFD trading without buying the asset.
How to buy Ethereum on a brokerage platform
There are many brokers available and you need to choose one that you are comfortable with. You need to know how the broker conducts business and how they provide proper customer support. In particular, you need to pay attention to such small details as whether the broker has customer support in case of technical difficulties. If so, this already speaks volumes about the trustworthiness of such a partner.
But this is not the only factor that tells you that the broker is worth working with. You should also pay attention to the following options:
- The broker's licence to operate and the length of time it has been in operation. If you want to buy Ethereum in Nigeria safely, pay attention to these factors.
- Minimum deposit and commissions.
- A user-friendly interface.
- Opportunity to trade different assets.
- Charts and various features that professional traders need.
- Chat for traders etc.
Cryptocurrency trading is one of the most profitable investment options. The principle of earning is based on buying and selling cryptocurrencies, i.e. we sell at a higher price and buy at a lower price.
CFD on cryptocurrencies has a number of other advantages, too:
- Minimum entry. To trade cryptocurrency CFDs, you need minimum funds - much less if you work with cryptocurrencies directly. Around $10 is enough to make your first trade.
- Leverage. Working with a CFD allows you to take advantage of all the marginal trading opportunities. With leverage, by engaging X amount of your own funds, you have access to trading capital for trades many times over.
- Diverse strategies. You can make money from short-term movements in the markets, working intraday, or you can enter longer trades. Cryptocurrency CFDs offer a wide range of possibilities for both speculating and hedging, which means that you can execute strategies of any size: with small amounts as well as large ones.
- Independent on the direction of the market. With crypto-CFD, you can profit regardless of whether the market is going up or down.
How to start investing in Ethereum (ETH)?
The idea of starting to invest in Ethereum in Nigeria is gaining popularity. The key is to know how to do it safely and securely. To that end, let's take a closer look at how to conduct your trade on a brokerage platform.
The easiest way to start investing in cryptocurrency is to use an online broker. Join, sign up using the link at the end of this article!
The first thing you need to do to start using the platform is to register. It's easy, it's free, and it doesn't bind you to anything, so there's nothing to be afraid of. You simply fill in your details on the registration card and follow the system's instructions.
To ensure that the platform can give you the best of yourself, it is advisable to download a free app for your PC or smartphone. You will find full details of this on the homepage. It's very handy and will allow you to learn trading skills faster!
How to open a Demo account?
Once you register, you will be given 2 accounts to choose from. The first of these will be a demo account, which will contain a virtual amount of money.
Take advantage of this, it will help you get started! You do not have to put any of your own money into it. This account will be for training and getting to know the platform. Experienced traders use this account to practice and test new assets and strategies.
This is an account similar to the one you would open in a real account. You will use the same passwords and other information as you would for a real account. Your order entry and funding status will remain the same, but everything else will be virtual, in other words you won't be able to profit here.
How do I start live trading?
To open a real account you need to deposit the minimum amount requested by the broker, which is normally around $10. So make a minimum deposit of $10 (or more), and you will be just like millions of other brokers around the world!
By logging into your brokerage account, you can see all your investments as a table. Here you will be able to see your account balance, your current investments and your trading history, which you can analyse.
The last thing to mention is that you need a constant flow of knowledge, it will be easier to trade and see the trend if you keep up-to-date with the news. You can keep up with them from the economic calendar on the platform or from the news section.
Also, don't pass up the chance to practice using technical analysis on a demo account, which will help you understand where the price of an asset is going to move, and thus help you earn more money! Good luck!