Ethereum is a public, open-source, blockchain-based distributed computing platform featuring smart contract functionality. It provides a decentralized virtual machine – the Ethereum Virtual Machine (EVM) – which can execute scripts using an international network of public nodes.
The value of an ETH token has increased more than 2,300% this year with the price of one ETH token currently sitting at just under $300 USD, according to data from CoinDesk. The Ethereum Frontier network launched on July 30th, 2015, and developers began writing smart contracts and decentralized apps to deploy on the live Ethereum network.
In addition, miners began to join the Ethereum network to help secure the Ethereum blockchain and earn ether from mining blocks. Even though the Frontier release is the first milestone in the Ethereum project and was intended for use by developers as a beta version, it turned out to be more capable and reliable than anyone expected, and developers rushed in to build solutions and improve the Ethereum ecosystem.
The rest, as they say, is history; Ethereum has achieved massive success in just two short years and shows no sign of letting up. Ethereum is poses arguably the biggest threat to Bitcoin because it has been able to expand upon Bitcoin’s original appeal with its additional functionality.
Best Ethereum Trading Platforms
There are many brokerage firm websites which are now offering Ethereum options trading to allow users to indulge in trading Ethereum by offering Ethereum lending services to cater for Ethereum day trading and the like.
Cryptocurrency trading is the latest trend in online derivative trading and, as such, new would-be Ethereum traders, must choose from a huge selection of sites if they want to indulge in trading Ethereum. The following rundown will provide you with a bit of information on five of what we consider the best and most reliable brokerage firms which offer Ethereum trading options. Some are better suited to new traders who may never have even considered trading Ethereum until now, while others offer slightly better options, so take the time to read each review carefully to allow you to make an informed decision on which Ethereum trading platform best suits your needs.
eToro says: “The world’s leading social investment network: tap into the wisdom of the crowds to make smarter investment decisions! Social Trading is about opening the markets to everyone. At eToro, we encourage people to connect with one another to discuss, trade, invest, learn and share knowledge across the network. From now on, you don’t need to be a pro to trade like one.”
We say: eToro is a social trading and multi-asset brokerage company that has registered offices in Cyprus, Israel and the United Kingdom. eToro is another fantastic choice for anyone who wants to enter the wonderful world of cryptocurrency trading. It’s simple, fast, and easy to use and, as such, is a great place to start Ethereum trading.
eToro Broker Review
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AvaTrade says: “AvaTrade has been an innovative pioneer in online trading since 2006. The company was created as a combined effort of financial professionals and experts in web-commerce with the goal of perfecting the online experience for retail traders. Within a few short years, AvaTrade has expanded enormously, with over twenty thousand registered customers globally executing more than two million trades a month. The company’s total trading volumes surpass $60 billion per month.”
We say: AvaTrade is one of the more well-established brokerage firms so you can rely on them for security and support. They have a web chat service which is useful for new users. AvaTrade’s support desk is multilingual, and is available 24 hours a day so you’ll never be without a helping hand. It boasts an attractive and clean-looking interface which is ideal for beginners and more experienced traders alike. Its headquarters are in Dublin, Ireland, and it was founded way back in 2006, so they must be doing something right.
Plus500 says: “Plus500 is a leading provider of Contracts for Difference (CFDs), delivering trading facilities on shares, forex, commodities, ETFs, options and indices, alongside innovative trading technology. With the Plus500 trading platform, you can trade the world’s most popular financial instruments with leverage and enjoy a free unlimited demo account.”
We say: Plus500 is a secure and reliable Ethereum trading platform which is, without a doubt, one of the most popular names in the industry. It’s easy-to-use interface and wide variety of competitive spreads makes it the perfect place to begin Ethereum trading, whether it’s long-term trading you fancy or a bit of Ethereum day trading.
24 Option says: “24option the world’s leading binary options trading platform. Trade Stocks, Indices, Forex and Commodities. Get the highest limits & returns! 24option is a fully regulated online binary options brokerage owned by Rodeler Ltd. Traders can choose from a wide range of global assets, including stocks, indices, commodities and currencies. The sophisticated easy to use trading platform delivers real time financial data, and allows multiple simultaneous investments using four fundamental instruments.”
We say: 24Option is among the top online brokerage firms in terms of features, usability, and rates offered. Indeed, the company offers loads of the most up-to-date technology on its attractive and easy-to-navigate trading platform; the company has obviously worked incredibly hard to ensure that the service is accessible to the less experienced trader.
How to trade Ethereum with Avatrade – The Step-by-Step Guide
This post will lead you step-by-step through the very simple and straightforward process of setting up an account with AVATRADE, familiarising yourself with the interface, and purchasing some Ethereum.
First, follow the link above and you’ll find the AVATRADE homepage in all its glory (see below):
Setting up an account with AVATRADE is a walk in the park. Simply hit ‘Open a Real Account’ and enter your details in. You can do this manually or AVATRADE gives you the option of signing up via Facebook or Google Plus to save time (see image below).
PLEASE NOTE: If anything is confusing you, the AVATRADE website features a ‘Live Chat’ with knowledgeable agents on hand who respond quickly and are keen to help with any queries you might have. Alternatively, the FAQ page is well stocked and might well have the answer you’re looking for.
Once you’ve entered in your name and email or, alternatively, registered via Facebook or Google Plus, you’ll land on the above screen. Here you’ll be prompted to enter your date of birth, address, create a password and select your desired ‘Trading Platform’.
PLEASE NOTE: Fill in the ‘Do you have any Trading experience in Options or CFOs?’ as required; for the purposes of this guide, we’ve gone with ‘No’ to keep things simple and intuitive for new traders.
Now, because we want to buy and trade Ether, we want to select a platform which caters for cryptocurrency trading; we’d suggest a Floating Spread Account with MetaTrader 4.
You’ll then reach the above page so fill in the appropriate details for yourself – don’t threat, you’re almost ready to start snapping necks and cashing cheques!
Fill in the boxes at the bottom of the page and be sure to read every single word of the ‘Terms and Conditions’ (just kidding), hit ‘Submit’ and you’re almost done.
Finally, we made it! Now, all you have to do is fund your account and you can start buying Ethereum, trading other altcoins, and begin watching the profits roll in!
Click ‘Deposit Now’ to fund your account and you’ll be met with the below page:
Once you’ve funded your account, go back to ‘My Account’ (see below) and hit ‘Web Trading’ to begin trading:
Once, you’ve clicked on ‘Web Trading’, you’ll be met with the below screen:
Once you’ve added your email and other details you’ll finally see cryptos on the left hand side (hurray!) – see below:
One more thing: in order to verify your account, you’ll need to upload some identification – it’s a slight headache but good to know AVATRADE takes security seriously… See below for the screen:
That’s about it – thanks for reading and, as always, happy trading, folks!