Ether, or ETH for short, is the main currency of the Ethereum network. It is often used as a form of value storage, a medium of exchange and also used to maintain the Ethereum network in the form of a gas fee (What Is Gas Fee?) by encouraging miner to include your transaction in the blockchain. Kindly refer below on where to buy/obtain ETH:
1. From one of the friends in your circles.
Chances are some of the people within your circle own some themselves. You can try buying from them as they could also guide you through the processes of buying Ether as well.
2. Over-The-Counter
It doesn’t have to be just from your friends, either. You can directly trade with anyone or any businesses looking to sell their Ether by paying in cash or any other agreed-upon method of payment and doing an on-the-spot transfer. But beware of scammers and thieves if you opt for this option.
3. From exchanges.
- An exchange is a marketplace where financial instruments are traded. There are a lot of exchanges available online where you can buy, sell or trade Ether. Some exchanges accept fiat currency (USD, GBP, etc.), while some strictly accept only cryptocurrencies on their platform.
- Be sure to always perform thorough research on the exchanges that you wish to deal with.
- For a full list of recommended fiat exchanges: https://etherscan.io/directory/Exchanges/Fiat_Exchanges
- For a full list of recommended crypto exchanges: https://etherscan.io/directory/Exchanges/Crypto_Exchanges
- Take note that most exchanges require KYC processes for opening an account and to increase the trading limit.
4. From online escrow platforms.
- Ether is also available for trade via escrow.
- In escrow transactions, a third party (the escrow agent) is entrusted by the seller with the asset (in this scenario, Ether). When a buyer agrees to buy and pay for the asset, the escrow agent receives and disburses the money to the seller and then delivers the asset to the buyer.
- Again, be sure to always perform thorough research on the platforms you wish to deal with.
Wherever it is that you buy your ETH from, always remember to DYOR (Do Your Own Research) before proceeding with any decisions.