How To Buy Ethereum in Singapore / Canada
Anyone may purchase Ethereum with Singapore Dollars (SGD), Canadian Dollars (CAD), or US Dollars (USD) with the help of Coinut (Coins U Trust). In this exclusively curated beginner's guide, you will discover how to buy Ethereum in Singapore and Canada, as well as how to safely keep it in your Coinut wallet.
1.Sign Upfor Coinut
To buy Ethereum in Singapore and Canada, the first step is to register for a Coinut account. By signing up, you will be given a secure Coinut wallet where you can store your Ethereum. Additionally, this digital currency wallet will offer easy payment options for purchasing digital currencies using SGD, CAD, or USD.
2. Connect your Bank Account
Prior to using the account, you will need to complete a few quick verification procedures after signing up. Simply fill out the Customer Due Diligence form and link your bank account to your digital wallet. After the verifications are completed, you may proceed to begin a transaction.
3. Buy, Sell or Trade Ethereum
Following your purchase of Ethereum on Coinut, we will safely store it in your Ethereum wallet, where it will be visible in your Balance Status. 'Selling' operates similarly but in reverse. You may now proceed to sell, trade, or buy Ethereum in Singapore and Canada. Moreover, you will receive updates from our cryptocurrency exchange in regards to any changes to the Ethereum price.
Learn more:Step-by-Step Guide
What is Ethereum?
An open-source blockchain, Ethereum has its own cryptocurrency called Ether (ETH). Although the terms are frequently used interchangeably, Ethereum is the blockchain technology that powers the cryptocurrency, while Ether (ETH) is the actual token. While you cannot directly invest in Ethereum, you may purchase Ether.
In 2015, Programmer Vitalik Buterin created Ethereum - a decentralised public ledger that authenticates transactions and records them. Moreover, it allows developers to create, publish, and use decentralised applications (DApps) and smart contracts without the aid of third-party services. New cryptocurrencies, goods, and services, such as the non-fungible tokens (NFT), have been made possible by Ethereum. It has evolved into a marketplace for apps, games, and financial services, all of which accept ETH as payment. By market capitalisation, Ethereum is the second-largest cryptocurrency behind Bitcoin.
Why should I buy Ethereum?
When you buy Ethereum through Coinut, it can be used for a variety of purposes besides Ethereum exchange. Among them are:
- Pay for products and services.
- Utilise your coin as a store of value by holding on to it.
- Send money to family and friends.
- Include it in your short-term or long-term trading plan.
What can I do with Ethereum?
You have learned how to buy Ethereum in Singapore and Canada, but what is next? The following are three of the most popular options to consider after purchasing Ethereum;
1. Hold/store Ethereum
Numerous users hold on to their Ethereum in the hope that their value will rise. In the meantime, you may store your Ethereum safely in our secure Coinut cryptocurrency wallet.
2. Spend Ethereum
Ethereum may be used to pay for products and services. Both large corporations and small enterprises are now accepting Ethereum as a form of payment.
3. Buy, sell, and trade Ethereum
You may buy, sell, and trade Ethereum with Coinut for other cryptocurrencies.
How does Ethereum work?
Ethereum tracks and manages the currency on a decentralised computer network or distributed ledger, often known as a blockchain. This blockchain can be thought of as a continuous receipt of all cryptocurrency transactions to ever occur. The network's computers verify the transactions and guarantee the data's integrity. You may find out more about Ethereum on our blog or visit the Ethereum official website for further information.
What are Ethereum smart contracts used for?
Like a standard contract, Ethereum smart contracts have the ability to establish rules and have the system automatically enforce those rules via the code. Applications for smart contracts in finance include borrowing, lending, investing, and trading. They can be used in industries such as real estate, gaming, healthcare, and even the configuration of entire company structures.
What is the benefit of Ethereum smart contract?
Due to the lack of brokers or other intermediaries, smart contracts completely remove the possibility of third parties manipulating the agreement. All transactions are accessible and viewable to the public, which prevents unethical acts of corruption. Moreover, smart contracts contribute to cost savings because there is no intermediary involved.
What is the difference between Ether and Ethereum?
Between Ethereum and its cryptocurrency, Ether (ETH), there are some significant differences that are important to know since they can guide your investing and spending choices. Ethereum is a blockchain as well as a distributed platform with many different applications; its native coin is called ether. The terms "Ether" and "Ethereum" are frequently used interchangeably to refer to the cryptocurrency ETH.
Why choose Coinut to buy Ethereum?
Coinut is the most secure and hack-proof cryptocurrency trading platform with advanced encryption technology, offline data storage, and a semi-manual process, among other benefits. In addition, Coinut offers fast iBanking that allows for deposits and withdrawals with SGD/USD without any transfers. With the lowest rates offered and a user-friendly interface – buying Ethereum with Coinut is secure, straightforward, and quick.
Start buying ETH
Sign Up Now & Earn Free LitecoinsCREATE ACCOUNT