What is Ethereum (ETH)?
Ethereum is a blockchain platform, which is open-source, that has its own cryptocurrency, called ETH (or Ether), and runs on the ERC20 network. ERC20 refers to a scripting standard that dictates a number of rules and actions that an Ethereum token or smart contract must follow and steps to be able to implement it. Ethereum’s cryptocurrency Ether is currently second in value only to Bitcoin. You can buy and sell ETH for any major cryptocurrency – like BTC and XRP – or traditional currency such as Canadian Dollar, US Dollar, and Euro. Trading cryptocurrencies is like foreign exchange of traditional currencies – you trade ETH for BTC the same way you trade CAD for USD. You can also trade ETH to CAD based on the ETH price. To learn how to buy Ethereum / ETH, scroll down to see how to buy Ethereum.
How to buy Ethereum (ETH)?
Here's how to buy Ethereum on Coinsquare
To buy Ethereum, simply follow these steps:
1. Sign up for a Coinsquare account and verify your identity
This is the first step to buying ETH. Verifying your identity helps us to properly connect your funds to your account.
2. Fund your account with Canadian Dollars
Funding is like putting gas into a car – it helps you get where you want to go.
3. After funding, select ETH from the list on the trade section
Coinsquare lets you trade ETH without leaving the app. You can also check the Ethereum price and convert ETH to CAD or USD on the platform.
4. Select a currency you’ve funded and use it to check the ETH price
In the Coinsquare app, all currencies available to trade can be found in the drop down list.
5. Buy Ethereum (ETH)
Congratulations! You’re now the proud owner of ETH. You can either HODL or use it to exchange ETH to CAD or any other cryptocurrency listed on Coinsquare.
Where do I keep my Ethereum (ETH)?
At Coinsquare, we offer customers the power of easy transactions and cold storage security. Client assets are securely stored 1 to 1 in cold storage with approved custodians, kept separate from operational funds, and never utilized for lending purposes.
All client assets are held in trust with external, licensed custodians with a combined $680M USD in insurance. Additionally, CCML maintains Vault Risk insurance beyond those of its custodians that cover risks related to the cold storage of its clients’ crypto assets. And the cash held in your account is insured against insolvency by the Canadian Investment Protection Fund (CIPF). This means that in the unlikely event that Coinsquare (CCML) becomes insolvent, CIPF will cover any shortfall of cash held in client accounts up to $1 million CAD per account.
Ready to add Ethereum (ETH) to your portfolio?
Create your account, fund it with spare change and get a little bit of ETH.
