How to Buy Ethereum
Netcoins is the easiest, most trusted way to buy ethereum (ether) in Canada.
“Ethereum wants to reimagine the Internet.”
Ethereum was created in 2013 by Vitalik Buterin. Although ethereum and ether are used interchangeably, ethereum is the name of the blockchain while ether is the name of its cryptocurrency. It’s common to mix up Ethereum and Ether (ETH). If you’re looking to buy Ethereum, it’s more likely that you’re really looking to buy ETH (the short form for Ether)!
Ethereum took the technology bitcoin created and made it more than just currency. In reimagining the financial world and beyond, ethereum has allowed companies to manage property, contracts, build apps, advertise, buy goods, play games, organize people and so much more. To quote journalist, Camila Russo: “Bitcoin wanted to be peer-to-peer money. Ethereum wanted to be peer-to-peer everything.”
ETH, the cryptocurrency is the lifeblood of Ethereum (the blockchain network). Whenever you use the Ethereum network, whether that’s to create new apps, tokens or process transactions, you’ll have to pay a small fee in ETH.
Buy ether in 3 steps
Create an Account
Provide some personal details and get verified in minutes through our automated KYC process.
Fund (No Fees)
Fund your account with a cryptocurrency deposit, Interac e-Transfer, online bill payment or bank wire transfer.
Buy and sell as little as $10, or up to $10 million with no slippage due to our deep liquidity.
Rapid Transaction Times
0% Funding Fees
Free Cash Withdrawals
Fund and withdraw quickly. Buy and sell instantly. No more waiting days to get your digital currency.
Get verified at lightning speed with our automated KYC process. Get help from our support agents if needed.
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How much ether can I buy?
You don’t need to buy 1 entire ether to get started!
You can buy fractions of an ether. In fact, the smallest possible unit of ether is called a wei (named after a cryptographer) and is equivalent to.000000000000000001 ETH (18 decimal places). Many beginners start their ether journey by buying small amounts.
You can start as small as $10, or invest up to $10 million with Netcoins.
Why buy ethereum?
The ethereum blockchain has proven that developers can build decentralized applications and tokens on top of it (not just currencies).
It allows any developer to build any project or cryptocurrency on top of its blockchain.
For example file storage, social networks, advertising, and loans. All this and more while removing the middlemen from the process. But to do any of this, you need ETH (ether) – the currency of Ethereum apps.
Ethereum also facilitates smart contracts, which are contracts that self-execute once the agreements outlined within it are met (this is because they’re written in code). Smart contracts remove the need to trust many people in the process of buying something (and paying the fees).
Etherum is about reimagining the internet. The ethereum network allows smart contracts and decentralized applications to be build on top of it by any developer from anywhere in the world.
Ether can be bought in fractions, with the smallest unit being called a wei. That is one quintillionth of an ether (.000000000000000001). This allows for micro-transactions and investors to start small.
Max Yearly Supply
The supply of ethereum is predefined and publicly known. While bitcoin has a limited supply of 21 million coins, ethereum has an unlimited supply. But has an annual max. supply of 18 million ethereum.
Smart contracts are self-executing contracts with the terms of agreements written into code.They are traceable, transparent and irreversible. Through them, the middlemen and their fees, are removed.
Frequently Asked Questions
Why buy ethereum?
Ethereum is a great way for investors to diversify their portfolio by having non-traditional assets mixed in with traditional assets.
People invest in ethereum for three main reasons:
- They believe it’s the future of the internet
- It’s potential to reimagine the entire financial system (from borrowing, lending, and more on top of a blockchain)
- The ability to remove the middlemen through ethereum’s smart contracts
Ethereum continues to increase in price and value, particularly as we approach the launch of etheruem 2.0 – which will make the ethereum network more scalable, decentralized and secure.
Are there any risks involved if i buy ethereum?
All forms of investments carry with them an inherent level of risk so you should never invest more than you’re willing or ready to lose.
Cryptocurrencies like ether are known to be volatile and the price fluctuates quite a bit on a day to day basis. What’s important to understand as well is to zoom out and look at the bigger picture.
If you do buy ether, also remember to properly secure your account with Two Factor Authentication and follow security best practices!
How much ethereum should i buy?
A common misconception is that you have to buy 1 entire ether, but you can actually buy fractions of an ether. You can start off with as little as $10, or invest a certain % of your wealth.
Many beginners start off by dollar cost averaging in, which is the practice of putting in a set amount of money towards ether in regular intervals (for example $100 every month).
Why is KYC (Verification) required?
KYC is a process that allows us to verify the identity of our customers, as per Canadian regulations.
What do I need to provide for your verification process?
You will have to provide your email address, phone number and personal information including your first name, last name, address, date of birth and a piece of identification (like a driver’s license). Most users are verified at this point through our automated process.
If you don’t pass the automated KYC process, you will have to go through an additional document verification stage. This is important and required as we are a regulated money service business in Canada.
How can I fund my account?
Your Netcoins account can be funded with a cryptocurrency deposit, Interac e-Transfer, online bill payment, or a bank wire transfer. There are no funding fees imposed by us.
Once you have funds in your Netcoins account, you’ll find that it’s super easy to buy ethereum in in Canada.
Can I send my crypto to an external wallet?
Yes, you can either keep a crypto balance within your Netcoins account or withdraw it into your own external wallet. While FIAT withdrawals are free, there is a small withdrawal fee associated with crypto withdrawals.