How to Buy Ethereum with USD
Buying ethereum in the USA with USD can be difficult sometimes. The problem is not with the exchange, but is with the time required to complete the verification of an account and that eventually prolongs the process.
Due to strict regulatory requirements, exchanges in New York tend to remain on the safe side by not verifying your account unless all the required documents are received. Which is understandable.
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Ethereum in USD & Bitcoin in USD
Bitcoin and Ethereum are the two largest cryptocurrencies in the world at the moment, and when you are talking about their price, most people refer to them versus the US dollar.
The US dollar is essentially the reserve currency of the world, lots of less developed countries use it over their own currency because it has more security and holds its value better.
Dollar (USD) liquidity
This is why we speak about cryptocurrencies against the USD. Those who use technical analysis to determine areas to buy these cryptocurrencies, again will use the USD as the term currency. Ripple to USD or Litecoin to USD, it doesn’t matter which currency you decide, all are often shown against the dollar and also offer more liquidity because more people trade using USD than any other currency.
As we are talking about liquidity, it is worth mentioning CFDs. These are ‘contracts for difference’ and is a method of taking advantage of price fluctuations in certain markets. They are becoming very popular for cryptocurrency investors.
The main reason is because they allow you to only put a certain amount of the actual trade on the table, the broker then provides the rest.
This then frees up your funds for investment elsewhere, either in another cryptocurrency or in a completely different market.
The other advantage they have is that they are more liquid than the underlying asset. CFD markets follow the price of the underlying asset, which means that you are getting the liquidity of the actual cryptocurrency market but also the liquidity of the CFD market. When you sell your ethereum CFD, there is a buyer on the other side of the deal who is buying the CFD. Therefore there is liquidity from two markets.
What does this mean?
It means that it is a lot easier to buy and sell when you want to. With some cryprotcurrencies, it can sometimes be difficult to find a buyer or seller on the other sude of the transaction, resulting in you having to take a worse price than you originally wanted.
We recommend using brokers like eToro or AVA Trade to buy ethereum CFDs with dollars. Transferring USD to Ethereum is usually a much quicker and easier process when buying through a CFD provider. As shown in the picture below, it is as easy as choosing USD from the dropdown menu.
Ethereum to USD exchanges
We will now explore some reliable exchanges to use when buying Ethereum using USD. Before we list them, you need to open a crypto wallet that can store Ethereum. Some exchanges offer wallets as part of the service, but it is often advisable to look for secure ones that can be downloaded to your computer. Bitcoins, Ethereum, Litecoins, are stored in electronic wallets also known as BTC-wallet.
Below are some reliable sources. You can buy Ethereum with USD from there.
1) How to buy Ethereum with USD from CoinMama
CoinMama is an exchange offering Bitcoins and Ether sales and purchases to clients all across the world. Its main market is in Europe and the USA and was founded in 2014.
CoinMama charges its customers a fee 0f 7%, which looks relatively high compared to other exchanges. However, CoinMama does offer those looking to invest large amounts to buy a high volume of Ethereum – account verification is required when you are looking to purchase large amounts of ethereum. Customers with unverified accounts can buy ethereum with USD up to $125 a day.
To buy Ethereum with USD from CoinMama, the following steps are required:
- Go to www.coinmama.com.
- Click on the ‘register’ tab available at the right upper corner of the page.
- Enter your name, address, and other details.
- Upload supporting documents.
- Click Submit and wait until your account is verified.
- Once verified, Log in your account.
- Select ethereum as your currency.
- Enter the Ethereum amount that you intend to buy with
- Select the payment method.
- Enter your USD bank account details.
- Click “next” to proceed to the payment summary page.
- Press “pay” to proceed with payments.
- Collect your Ethereum and transfer them to your e-wallet.
2) How to buy Ethereum with USD from Coinbase
Coinbase is another renowned company that has a large clientele base in Canada, UK, Europe, Singapore, and the USA.. People can buy Bitcoins, Ethereum and Litecoins with USD from Coinbase at a flat transactional fee of 3.75%, which is pretty fair when compared to other providers.
People residing outside the countries mentioned above can also buy Ethereum. However, they may need ask for some additional requirements.
To Buy ethereum from Coinbase, you need to go through following steps.
- Type in your browser’s address bar www.coinbase.com.
- Click on the “Sign Up” tab.
- Complete the registration form.
- Submit the documents required for the account verification purposes.
- Log in your account to see if it is verified.
- After your account is verified, you are eligible to buy Ethereum with USD.
- Click buy Ethereum and you will be given a price to buy Ethereum.
- Add your payment details such as your bank account opened in USD currency.
- Click “next” to confirm payment.
- Collect your Ethereum and get them transferred to your bitcoin wallet.
3) How to Buy Ethereum with USD from CEX.IO
CEX.IO allows its clients to buy Ethereum with USD as well as other fiat currencies and you can do so through various methods including credit/debit card, wire transfers, as well as using cash. The fee that CEX.IO charges is higher in comparison to other exchanges but the fact is that it collaborates with different exchanges all over the world, which gives the client the best possible and most accurate price for that cryptocurrency.
Buying Ethereum with USD from CEX.IO, you need to take the following steps:
- Open your account by visiting www.cex.io.com.
- Select the currency you wish to buy – Ether.
- Select the ‘Payment’ tab to add your payment method.
- Enter your payment details and click ‘next’ to proceed to the payment summary page.
- Click ‘submit’ to authorize your payment.
- Collect your ethereum and transfer them to your e-wallet.