Since 2009, the Bitcoin price has risen by 1000%, which is a ludicrous rate of return if you had obtained them during that time. Bitcoin
4 Things to Consider When Buying or Exchanging Ethereum in Canada
With the increasing acceptance of blockchain technology, investing in cryptocurrencies is turning to be the next form of assets. In this essence, buying Ethereum as a Canadian is one way of positioning yourself for the new era. Notably, unlike other altcoins, Ethereum value is rising at a higher rate.
Most people are also predicting that it will one day bypass the Bitcoin. However, due to the decentralization in the cryptocurrency field, the digital coins face a lot of speculations. Hence, investors in this field are those who are ready to lose as prices may fluctuate indefinitely causing a huge loss. Apart from this, exchange bureaus may turn you into a cash cow. So, here are things you need to consider while choosing an exchange organization/ platform:
Fee charges per transaction
Saving a coin is not an error in any business. When it comes to cryptocurrency exchanges selection, you need to apply the same concept. Like any other business, different exchanges have varying fee structures. Some exchanges will charge you for each token of Ethereum you transact whether buying or selling.
Others only charge for sales transactions meaning no fee for purchasing. Again, some exchange transactions offer you a discount if you purchase a given amount of crypto coins. As such, you should do preliminary research to determine the Canadian cryptocurrency exchange that has the best offers.
Method of purchase
As you embark on buying Ethereum or other altcoins in Canada, it is essential to consider the payment modes your exchange of choice accepts. In Particular, this step is vital for first timers and entrants to cryptocurrency trading. Different exchange platforms offer various or specific payment options. Some accept Paypal and credit cards. Others only require you to deposit your cash through bank transfers.
Also, there are those that only allow cryptocurrency exchange without an opportunity for fiat currencies. For this reason, you should check the type of payment an exchange supports before initiating a transaction. Also, it is essential to consider the transaction processing period. This is because some exchanges require you to wait for a day or even a week to process your transaction.
Due to the volatility of the cryptocurrencies, it is always advisable to diversify your investment through buying various altcoins. In this regard, you need to consider the number of crypto coins you can exchange on a platform. For instance, most Canadian platforms offer you only four types of cryptocurrencies while others only offer Bitcoins. Hence, before subscribing and signing up for an exchange account, always ensure it supports the types of digital currencies you have an interest in current and the future.
Like any other virtual platform, the user experience is a pillar for any cryptocurrency exchange. You do not need to go for a platform that will take you ages to learn how it operates. As you know, the great user experience is a magnet that drives traffic on online platforms. This aspect is not different here. An exchange with better user experience will attract more investors than the later.
As such, you will have a chance of earning more returns on such a platform. For this reason, when planning to buy Ethereum in Canadian cryptocurrency exchanges, you should ensure that they offer the best user experience and have an easy to use interface. By this, there will be more investors and transactions meaning a better chance of making a profit or purchasing Ethers at a lower price.
While buying Ethereum in Canada, it is essential to consider several aspects of the exchange platform. Some of these aspects include user experience, purchase methods, transaction fees, and cryptocurrencies supported.
In Bitcoin investing, growing will guarantee you have more than you anticipated regarding returns. It helps to realize that the Bitcoin price is regularly increasing.