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How to buy cryptocurrency and store it safely?

Cryptocurrency is a new class of digital assets popularized by Bitcoin (BTC). While cryptocurrencies or digital/virtual currencies work much like their traditional fiat counterparts, the biggest difference between the two is the lack of centralized infrastructure and banks.Where fiat currencies are issued by and kept in banks, digital currencies are issued via distributed mechanisms that follow strict consensus protocols. This translates into cryptocurrencies being stored on blockchains which are largely immutable, much more transparent and globally accessible.Given their utility and growing list of use cases, cryptocurrencies are gaining popularity and one way to buy cryptocurrency is to use a reliable crypto exchange like OKX. On OKX, users can sign up, verify their identities and start buying Bitcoin and other cryptocurrencies instantly using credit cards, debit cards, bank transfers and other supported payment methods.Typically, when you buy cryptocurrency, you have to store it in a dedicated wallet, but the security of your digital assets depends on how safely your private key is kept. Every cryptocurrency wallet has a private key which allows complete access to the stored digital assets. If you lose your private key, you effectively lose your funds.Using an exchange like OKX also facilitates users because their newly purchased or traded digital assets are kept securely on the platform and are credited into users' accounts, available to be sold or transferred as required.Ultimately, users should always buy cryptocurrency from a reliable exchange, and if they withdraw their digital assets to a personal wallet, they should keep their private keys safe and backed up to ensure the security of their funds.

Why buy Ethereum with OKX?

Simple

OKX makes it easy to buy Ethereum with a user-friendly interface

Flexible

OKX offers a variety of payment methods and supports numerous local currencies to help users buy Ethereum

Fast

OKX users can instantly buy Ethereum with credit card and have it deposited in their account in minutes

FAQ

  • What is the price of Ethereum?

    Like most popular assets, the price of Ethereum's ETH is always changing, as it is traded 24/7, 365 days a year on exchanges like OKEx. Due to changes in supply and demand — among other factors — the price of Ether can fluctuate significantly over time. For example, ETH was worth $7.98 on Jan. 1, 2016, $133 on Jan. 1, 2018, and then over $400 in August 2020.

    You can view the ETH chart on OKEx for the latest Ethereum coin price.

  • What is Ethereum used for?

    Ethereum is an advanced blockchain platform that is primarily used for launching censorship-resistant, fraud-proof smart contracts and decentralized applications. These smart contracts and DApps can be used for a variety of purposes, such as games, digital identity management, decentralized finance applications, financial services contracts, escrow services and more.

    Since Ethereum is still relatively new, its potential is still unfolding, especially as the ecosystems around it continue to expand.

  • How is Ethereum different from Bitcoin?

    While both Bitcoin and Ethereum are blockchains that underpin cryptocurrencies, they are different in their functions and abilities. Bitcoin, being the first blockchain to facilitate a cryptocurrency, was designed to create a coin to be a store of value and medium of exchange, whereas Ethereum was built to provide computing power and allow decentralized applications to run on its blockchain.

    There is also a big difference in the prices of both digital currencies and their respective market capitalizations.

    However, Ethereum and Bitcoin cannot be fairly compared to each other, as they both hold unique places in the crypto space.

  • Is Ethereum safe?

    As a cryptographically secure blockchain-based operating system, Ethereum is widely considered to be very safe. The underlying architecture of Ethereum has been thoroughly tested, and many developers are dedicated to its optimization and maintenance.

    However, the security of your ETH holdings depends on the wallet you use and the measures you follow to ensure the safety of your account. OKEx offers its users a variety of industry-leading security measures, such as the use of 2FA and Google Authenticator.

  • Can I buy Ethereum with a credit card?

    Yes! You can buy ETH with a credit card using OKEx. You can also use other payment methods supported by our partners, including debit cards, PayPal, bank transfers and more. When you buy Ethereum with credit card, your ETH is automatically transferred to your OKEx account wallet and is ready to be traded on other markets.

Want to learn more before you buy Ethereum?

Get detailed information about cryptocurrencies listed on OKX, including their tech, founders and price history.