Ethereum is the second largest cryptocurrency and over the last 12 months it has gained in popularity and price. Currently trading at £35 per Ether, the token on the Ethereum blockchain recently has even been adopted by darkmarket websites such as Alphabay, a marketplace where you can buy cannabis or any other drugs of choice.
Ethers are still fairly new and getting hold of them is getting easier as time goes on. in most case if you already have some bitcoins its easy to trade them for ether using exchanges like Bitfinex or changelly.
I think its a great time to buy ethers and in the future they will probably worth more. Since its becoming so popular and also you can use it to buy drugs i thought id write up a quick guide to how to buy some ethers online.
- Get a Ether Wallet – for the ease of use and to start with i would use coinbase as you can hold your bitcoins aswell as your ethers. Coinbase also gives $10 free bitcoins for new users. For beginners coinbase is the perfect wallet but for advanced users i would recommend using Jaxx.io
- Buy Bitcoins ( Optional ) using Bitfinex
- Buy Ether using Debit/Credit card using changelly
There has been alot of ways to earn money online. Making money with bitcoins and digital currencies is currently hot in 2016. Im going to provide a few stratigies to make increase your wealth and make a few bucks.
Buy and Hold for the Long term
Making money with bitcoins doesnt have to be complicated my first stratgy is to buy bitcoins at the lowest price i can get them. If you want to invest alot into bitcoins then set a dollar amount each month to spend on bitcoins and slowly each month add to your holdings. The dollar cost average over a long period will ease out any volitiiy. Although this is a simple method …buying and holding for years on end is tricky. If you want to use this method i would hold it for 20 years or more . but it will require a serious amount of patience. Its hard to predict the price in 20 years but i think it would definitely be above $3000 per bitcoin .Coinbase has a Bitcoin Vault that could be use for long term storage , however i personally recommend you look after your own bitcoins and private keys. Sign up with Coinbase and you recieve $10 worth of bitcoins.
Make Money Trading with LocalBitcoins
Trading your way to making more money is abit more tricky and abit more effort, but sometimes you have to make effort to make money. Local Bitcoins is probably the fastest and easiest way to buy and sell bitcoins. Localbitcoins is a peer to peer bitcoin exchange. Whatever country you might live in there will be someone on local bitcoins willing to do a trade with you
Trade Bitcoin like the Pros with Etoro
If you want to trade bitcoins like the pros you will need to use more professional tools. If you want to make decent money trading bitcoins you will need an edge over the market. Most professional traders will use a combination of technical and fundamental analysis to get the winining trades.
If you want technical indicators and prices charts then Etoro is the place to be. eToro is a social trading and multi asset brokerage company that has registered offices in Cyprus, Israel and the United Kingdom. eToro allows its users to watch the financial trading activity of ther users, copy them, and to make their own trades.
One great aspect about Etoro is that its Social. You have all the best traders in one place so if you need any trading advice Etoro openbook is the place to hang out and talk with other Bitcoin traders.
If you arent a professional trader that is ok . Etoro has an excellent Copytrader function . What this means is that you can search openbook for the best bitcoin trader and copy all the wining trades that the trader does. All of this done on automatically on the etoro platform. If used right the Copytrade can turn a novoice trader into a profitable bitcoin trader.
Everyone does dumb things in there lives. Last month i did something that ranked pretty high in the dumb list..I hold a some digital assets and one of my baskets of assets was 10354 SJCX . At todays prices that would be about £800. SJCX for those that dont know is a digital token on the StorJ Network. Storj is a decentralised cloud storage solutions built on Blockchain technology. Earlier this year when i heard about the project i wanted to test the application. However to be part of the test group you had to hold 10000 SJCX which at the time was relatively cheap at only about £100.. i thought what the hell 😉
I had these coins sat in the wallet for ages… they had gone up in value over the months i had them….and in the end they became worth about £800…Which is a 8X increase pretty good gains i thought. I dont know why , i thought to myself what would happen if i tried to transfer the SJCX into my Coinbase wallet. After all a Storj Wallet is a extension of a bitcoin wallet… I also thought that id be able to transfer them oout if anything went wrong since coinbase have a good support team.
Without really thinking what i was doing i went and transfered ALL the SCJX to a coinbase wallet i own 1Cr563rzct219VZL1sHoVSNGNuMU128swE. Only when i went and opened my coinbase wallet i had a horrible feeling i messed up bad.
Once i had realised what i had done i rushed to email coinbase support to see if they could assist me somehow..this was the response i got from coinbase.
JUN 23, 2016 | 04:21PM PDT
Robert Reid replied:
Unfortunately, it’s not that easy. Our keys are locked up in our own secure key storage system. This system is only able to sign Bitcoin transactions and can’t do anything else. We tied our hands on purpose with respect to these private keys. So it’s really hard for us to sign non-Bitcoin transactions. Obviously, it’s possible, but it requires a ton of engineering effort to code up, test, and deploy a solution. And it is not worth it for us to do this for the small amount of money people lost to this.
We have had many people that have sent altcoins to our Bitcoin address, and we were not able to help them retrieve them.
I am sorry for any inconvenience this caused and for misunderstanding your initial question.
Customer Support Agent
It may be the case that the SCJX is suck in Coinbase forever or maybe oneday a coinbase engineer with the private keys will scope up my lost SCJX. So the lesson learn from this experience is not to sent Altcoins like Storjx to Coinbase or you will lose them FOREVER.