How to buy Ethereum (ETH) in Australia?
- 1. Get an Ethereum wallet
- This is where you will store your purchased cryptocurrency. You can get a free online wallet or a hardware wallet.
- Elbaite does not hold your cryptocurrency in their own centralised wallet. Elbaite believes, your cryptocurrency is only yours if it is in your wallet.
- 2. Find an offer from a trusted seller
- Find an offer on a peer to peer exchange at a price and amount you would like to buy.
- Elbaite is a peer to peer exchange that connects trusted sellers to trusted buyers through our unique TraderTrust system.
- 3. Pay for your purchase
- Pay the agreed amount using your bank account.
- On Elbaite you can pay using OSKO / PayID or mobile banking to the Elbaite escrow bank account where it is kept safe until you receive your Ethereum in your wallet. The seller will never know your banking details, keeping your data private.
What is Ethereum?
Ethereum is famously known as the second largest cryptocurrency after Bitcoin by market capitalisation. The Ethereum white paper was released in 2013 by Vitalik Buterin and is now developed by the Ethereum Foundation, with developers and contributors based all over the world.
Ethereum is a decentralised open source blockchain providing revolutionary smart contract functionality. Smart Contracts are a powerful functionality of the Ethereum blockchain. It is code that automatically executes once agreed upon conditions have been met without the need of a third party. Which has huge compliance opportunities. Ether is the native cryptocurrency of the Ethereum blockchain. Ether is used to compensate nodes for performing computations on the Ethereum Virtual Machine (EVM). When you trade Ethereum, you are actually trading the Ether token.
More Ethereum information