Connect with us

Blockchain

Top 5 – The best Ethereum providers

Published

on

This article gives an overview of the best Ethereum providers who accept Euros and US-Dollar as payment for Ether (ETH). They are selected primarily in terms of fees and simplicity. The providers are updated at a regular base.

In order to gain access to the digital gold Ethereum (ETH), newcomers have to overcome many hurdles. Starting from learning the basic mechanisms of cryptocurrency and its classification, to the setup of a wallet and the selection of a suitable provider, where you can finally exchange your Euros or Dollars for Ether (ETH).

Especially this last step often represents a bigger hurdle, because the market of suppliers is confusing and many elements have to be considered in order to finally find a serious provider, where you can also buy Ethereum Ether (ETH) at a good price.

Exchange of Euro or US-Dollar into Ether is complex

In addition, the exchange of Euro or US-Dollar in Ethereum is considerably more expensive than between cryptocurrencies such as Bitcoin to Ethereum. The reason for this is that whenever you want to exchange a large amount of Euro or US-Dollar in cryptocurrencies for the first time, an identification procedure must be carried out beforehand.

Not all providers have such a procedure and are therefore not allowed to accept large sums of fiat money as payment. This is primarily intended to comply with international money laundering legislation. Since it is relatively time-consuming and can take several days until you have taken the necessary steps, it is advisable to choose the right provider at an early stage and to register as soon as possible in advance. Otherwise it could happen that you can’t be ready for the next big wave, but have to wait for a long time because the crowd is too big.

Overview – Top 5 as of March 2018

The Top 5 Ethereum providers are a group of selected suppliers, where you can buy Ethereum Ether (ETH) as a beginner from our point of view with a good conscience. We take into account three different types of platforms and include at least one suitable provider from each group. The three groups are:

  • Fast exchange via currency exchange service provider: Here the supplier is also the direct trading partner, which converts the Euros or Dollars directly into Ether. Similar to an online shop. A very fast and uncomplicated exchange is possible and therefore this is perfect for beginners.
  • Best price via online exchange trading platform: Here, the online exchange merely provides a trading platform and acts as an intermediary for Ethereum buyers and sellers against Euro or US-Dollar. A little more training is needed here.
  • Extreme profits through leverage with a CFD broker: In this case, “virtual” Ethereum ETHs – so-called CFDs – are bought with Euro or US-Dollar. Exchange rate gains or losses are identical. Usually you can work with a leverage, which can multiply a possible profit (but also the risk). CFD do not require a wallet. CFDs are usually bought when you are interested in short-term profit taking.

The following table lists the top 5 providers (state March 2018. They will be discussed in more detail in the course of this article.

Provider Buy Sell Fees (buy) Type
Coinbase¹ easy easy 1.49 % exchange service
GDAX average average 0.3 % online exchange
Bitpanda¹ easy easy approx. 19% exchange service
CEX.io¹ average average 0.25 % online exchange
Plus500² average average only spread CFD-Broker

²Affiliate link. 80.5 % of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money. Plus500UK Ltd authorized & regulated by the FCA (#509909). CFDs are complex instruments and are associated with the high risk of losing money quickly due to the leverage effect. Between 74 % and 89 % of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

You know a good provider that we don’t have in our lists and should take a closer look on next time? Then please send us a link to this page. Thank you very much!

Other providers

Of course, we know that there are many other good providers and the requirements and preferences are manifold. For the top 5, we have selected the providers that we consider to be the most suitable for beginners and for which you can currently register. It is quite possible that another provider will meet your personal requirements better. For beginners, however, we believe that these providers are among the best in their respective fields.

The criteria

We used different criteria to compare the providers.

The fees

The most important criteria is certainly the fee. Unfortunately, it is not obvious at a glance at all providers, which fees you have to pay for the exchange of Euro / US-Dollar in Ether. This is a legal grey area, because it is not mandatory to indicate it in this business. The exchange can also be interpreted as a “purchase “. In this case, there is only one price and no breakdown to exchange rate and fee, as it is the case with official exchange offices for national currencies. This of course, makes the fees even more intransparent. Some of them vary considerably from one another.

We made test purchases for you and then deducted the fees.

The on-boarding

“On-boarding” is the process from registration to exchange of Euros/US-Dollars in Ether. It usually consists of registration by e-mail and personal data, proof of identity and the indication and verification of the desired payment method (e. g. credit card or bank). The more extensively these steps are secured, the better it is for the provider, but the more costly it is for the customer. A good middle way should be the guiding principle here.

The location

Whether an Ethereum currency exchange provider has its business location in the EU / US or anywhere else in the world, plays an essential role in terms of trustworthiness. Especially when it comes to swapping large amounts of money and something is going wrong, you are well advised to make the company legally easier to reach. Whether this really works in the end is another thing. Time will show which providers will ultimately deal with their customers’ concerns seriously and responsibly.

Security and Reputation

We also take a look at the security standards of a rovider. Which measures he has set up and how the invests are secured against failure.

The Top 5 Ethereum providers

From our point of view, these are the Top 5 Ethereum providers, which are especially recommendable for beginners to make the first steps in a relatively reliable and safe environment.

Coinbase¹

Type (primary) Currency Exchange Service Provider
Location USA
Founded 2012
Number of users > 13 Mio
Effort deposit low
User interface easy
Effort payout low
Fees 1.49 %
Payment option SEPA-Transfer, VISA, MasterCard
Specials Online Wallet

With more than 13 million customers and a trading volume of over USD 50 billion, Coinbase is the largest provider of various cryptocurrencies in the world. Coinbase is both an exchange service provider and a trading platform (GDAX). The San Francisco-based company has a good reputation and is extremely easy to use. The company was recently valued at $1.6 billion. This makes it the first Unicorn among providers of cryptocurrencies.

However, there have been some problems with Coinbase lately: sometimes because of DDoS attacks, sometimes because of difficulties with credit card payments and sometimes simply because the customers’ demand was so big that the technology was not able to perform. But Coinbase has mastered all those problems and no Ether – at least officially – has been lost.

The biggest unique selling proposition of Coinbase is its online wallet. You no longer need to install and manage your own wallet. This makes setting up and purchasing Ether a cinch. According to its own statement, Coinbase has additionally insured all funds “hosted” in the online wallets against default at Lloyd’s of London. Thanks to a sophisticated mechanism, only 2% of the hosted funds are kept online and the rest is stored in separate offline wallets. This significantly minimizes the risk that all funds can be stolen at once, e. g. by a hacker attack.

So if you want to be part of the largest crypto trading platform and don’t want to install your own wallet, you should choose Coinbase.

Note: Using the link to Coinbase¹ provided here, we will both receive a bonus of 10 USD (approx. 8.50 EUR) on your first deposit of 100 USD (approx. 84 EUR). You don’t suffer any disadvantage – on the contrary: You will receive 10 USD and additionally support the further development of our websites. A win-win. We would also be happy if you could pass this link on to friends and acquaintances to support our blog.

GDAX

Type (primary) Online Exchange Trading Platform
Location USA
Founded 2012
Number of users > 13 Mio
Effort deposit low
User interface average
Effort payout average
Fees 0.3 %
Payment option SEPA-Transfer, Coinbase-Wallet
Specials
  • Belongs to Coinbase
  • Low fees

GDAX is Coinbase’s trading platform. Similar to other platforms such as Poloniex or Bittrex, this platform brings together buyers and sellers of cryptocurrencies. However, in contrast to the platforms mentioned above new registrations are currently permitted for GDAX and payment in Euros and US-Dollar is possible. The user interface is very clearly arranged and is easy to use. The special thing about GDAX is that you can also register there with your Coinbase account and then benefit from the much cheaper fees of the platform. In addition, you have full access to your Coinbase wallet and do not have to pay any transaction costs if you want to transfer money from your Coinbase Ethereum wallet to the GDAX exchange for trading.

Saving tip: First create a new account at Coinbase¹ and receive a credit of 10 USD (approx. 8,50 EUR) for your first purchase of Ethereum over 100 USD (approx. 84 EUR). If you would like to invest more later on, just sign up with your Coinbase account at GDAX and buy the remaining amount at a much lower fee. And with the reputation of Coinbase. Disadvantage: The GDAX surface is a bit more complicated and extensive than that of Coinbase.

Bitpanda¹

Type (primary) Currency Exchange Service Provider
Location Austria
Founded 2014
Number of users > 300,000
Effort deposit low
User interface easy
Effort payout low
Fees approx. 19 %
Payment option SOFORT-Transfer, Visa, MasterCard, NETELLER, Skrill, GIROPAY, SEPA-Transfer
Specials Offers an Online Wallet (like Coinbase)

Bitpanda was one of the first crypto currency providers in Europe. The formerly called Coinimal service from Austria is reliable and trustworthy. The interface is extremely intuitive and well designed. Onboarding worked excellently and quickly. An online wallet has also recently become available. The only drawback is that the fees are not clearly broken down and are usually very high.

But if you prefer a supplier from Europe, we definitely recommend Bitpanda¹.

CEX.io¹

Type (primary) Online Exchange Trading Platform
Location UK
Founded 2013
Number of users not stated
Effort deposit low
User interface average
Effort payout low
Fees 0.25 %
Payment option VISA, MasterCard, SEPA-Transfer
Specials Online Wallet

Founded in 2013, this provider comes from the UK and was formerly a cloud mining provider. It is one of the pioneers in this field. The support and security precautions are excellent. It is also one of the few companies registered with the Financial Supervisory Authority FinCEN (USA).

CEX.io¹ is the right choice for anyone who values a “traditional” and truly comprehensive secured broker with its head office in the EU and a clearly arranged user interface.

Plus500²

Type (primary) Online CFD-Broker
Location Israel
Founded 2008
Number of users > 310.000
Effort deposit low
User interface average
Effort payout average
Fees no commissions, fees for premium services, inactivity and overnight positions
Payment option Credit/Debit Card (Visa or MasterCard), PayPal, Skrill (Moneybookers), Bank Transfer
Specials
  • Leverage available
  • No wallet required
  • Focus on short term profits

Plus500² is a well-known Europe based online provider of CFDs. The company has been in existence since 2008 and offers a good structured and easy to use online platform. CFDs do not require a wallet. Although you can trade here with Ethereum you doesn’t own it. Nevertheless we have decided to include a CFD representative here. Especially for the realization of short-term profits it can be a very simple and lucrative alternative to the direct purchase of Ethereum. Particularly the so-called “lever” is an interesting possibility to trade for the price of 1 ETH, e. g. the equivalent value of 30 ETH or more!

If you would like to go even deeper into trading Ethereum CFDs, we have an article for you to read on: How to increase proft with Ethereum CFD?

For those who want to leverage short-term price increases at Ethereum without having to install and manage their own wallet, Ethereum CFDs from Plus500² are an ideal start. Please consider that the services of Plus500 are not provided for traders in the US (we are currently looking for a suitable alternative for US citizens).

²Affiliate link. 80.5 % of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money. Plus500UK Ltd authorized & regulated by the FCA (#509909). CFDs are complex instruments and are associated with the high risk of losing money quickly due to the leverage effect. Between 74 % and 89 % of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Summary

The simplest supplier for beginners is Coinbase¹. Although it is in the middle of the field with fees, this provider scores points with his huge “community” and his online wallet. In addition, the connection to the GDAX online exchange is very convenient and reduces fees.

An attractive exchange service provider from Europe is Bitpanda¹ with an extremely intuitive interface and a quick onboarding process.

In the top 5 as well, Cex.io¹. The service scores with low fees and fast onboarding. The company is also based in the UK, and so still in the EU.

If you want to speculate even more, and want to leverage your profit growth, you should consider investing some of your money in Ethereum CFDs. This is relatively easy with one of the largest CFD vendors, Plus500².

If you already have more experience with Ether in general, you can try your hand at one of the trading platforms such as GDAX, Kraken, Poloniex or Bitfinex. Trading there is more complex than buying at an exchange service provider. However, the fees are usually cheaper.

Finally, a word about trading with Ether: Whoever buys Ethereum Ether (ETH) or CFDs should only invest the money he is willing to lose in the worst case. This article does not constitute investment advice. Please inform yourself comprehensively and responsibly before investing in cryptocurrencies or CFDs.

¹Affiliate link
Note: The content on ethblog.de is for information purposes only and does not constitute investment advice or any other recommendation within the meaning of the Securities Trading Act.

²Affiliate link. 80.5 % of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money. Plus500UK Ltd authorized & regulated by the FCA (#509909). CFDs are complex instruments and are associated with the high risk of losing money quickly due to the leverage effect. Between 74 % and 89 % of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Der Beitrag Top 5 – The best Ethereum providers erschien zuerst auf ETHBLOG.

Source: https://ethblog.de/en/top-5-the-best-ethereum-providers/

Blockchain

Stagnant Crypto Weekend: Bitcoin Temporarily Stopped at $13,000

Published

on

Following the past couple of days of significant price developments within the cryptocurrency space, most assets have calmed. Bitcoin remains just shy $13,000, while some of the altcoins have even retraced slightly.

Bitcoin Struggles at $13,000

The past seven days were nothing short of impressive for Bitcoin. After a brief dip to $11,400 last week, the cryptocurrency went on a roll. Promising news from PayPal only accelerated BTC’s bullish run, resulting in a fresh 2020 high painted a few days ago at $13,200.

Since then, Bitcoin has maintained a relatively robust position around the $13,000 mark. In the past 24 hours, the primary cryptocurrency has hovered around that particular level as well.

The only exception came a few hours ago when it tanked to $12,730 (on Bitstamp). However, the bulls quickly took charge and drove it back to the familiar ground.

From a technical standpoint, the new 2020 high of $13,200 is the first significant resistance in BTC’s way up. Should the asset break above it, the next ones are $13,400, $13,500, and $13,600.

You Might Also Like:

Alternatively, Bitcoin could find support at $12,550, $12,400, $12,125, and $12,000 in case the recent trend reverses and BTC heads south.

BTCUSD. Source: TradingView
BTCUSD. Source: TradingView

Altcoins Display Red

The alternative coins joined Bitcoin’s party with a slight delay last week. Nevertheless, they marked some notable gains, which ultimately increased the total market cap by over $40 billion in seven days.

The situation has changed a bit in the past 24 hours. After jumping above $415 yesterday, Ethereum has lost some value and currently trades beneath that level. Ripple (-1.6%), Bitcoin Cash (-0.8%), Binance Coin (-0.9%), and Cardano (-1.6%) have also dipped slightly on a 24-hour scale.

Polkadot has increased by about 2%, while Chainlink has gained another 3%. LINK’s impressive performance as of late has driven the asset above $12.

heatmap
Cryptocurrency Market Heatmap. Source: Quantify Crypto

The most impressive gainer since yesterday is ABBC Coin. ABBC has pumped by 21% to $0.57. Ocean Protocol (14.5%), Elrond (14%), and Yearn. Finance (11%) follow suit.

Reserve Rights (-6.5%), Energy Web Token (-6%), HedgeTrade (-6%), and OKB (-5%) have lost the most value in the past day.

SPECIAL OFFER (Sponsored)

Binance Futures 50 USDT FREE Voucher: Use this link to register & get 10% off fees and 50 USDT when trading 500 USDT (limited offer).

Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.

Cryptocurrency charts by TradingView.


Source: https://cryptopotato.com/stagnant-crypto-weekend-bitcoin-temporarily-stopped-at-13000/

Continue Reading

Blockchain

The Digital Age Is Here: Crypto And Fintech Companies Soar, While Bank Stocks Tank

Published

on

2020 has been so far a challenging year. Issues such as the Australian wildfires and the global COVID-19 pandemic have harmed the planet and its inhabitants. The financial world has also suffered, especially during the first several months.

The effects are evident within different sectors of the financial industry. While some have felt adverse consequences during these uncertain times, others have thrived and reached for the stars.

BNN Bloomberg’s senior anchor, Jon Erlichman, recently published some stocks’ price performances for banks and fintech companies and the two largest cryptocurrencies – Ethereum and Bitcoin.

CryptoPotato exemplified it with the graph below. It concludes that innovative fintech companies such as Square and PayPal have massively outperformed the old dogs – the banking sector. Bitcoin has also experienced a notable YTD price surge, while Ethereum has trumped them all with a substantial triple-digit surge.

YTD Price Performance Of Crypto, Fintech Companies, And Bank Stocks. Source: CryptoPotato
YTD Price Performance Of Crypto, Fintech Companies, And Bank Stocks. Source: CryptoPotato

YTD: Bank Stocks Haven’t Enjoyed 2020

The stocks of some of the world’s largest banks were on a roll since the previous financial crisis over a decade ago. Bank of America shares had increased approximately ten-fold since 2009 to their highs in February 2020 of about $35.

You Might Also Like:

In the same period, Citigroup stocks went from $15 to $80, JP Morgan Chase & Co (JPM) from $20 to $140, and Wells Fargo (WFC) surged from $11 to above $50.

However, the COVID-19-prompted crisis took the world by storm this year. March alone saw price slumps not seen in decades. Most of the aforementioned bank stocks lost about 50% of its value in merely days.

Although their shares have picked up from the March bottoms, the graph above demonstrates that their year-to-date performance is still in the red. JPM is down by 30%, Bank of America by 33%, Citigroup by 46%, and Wells Fargo has it the worst – 58% YTD dump.

Other financial service corporations, such as Western Union (-17%) and American Express (-19%), have also lost significant chunks of value since the start of the year.

It’s worth noting that one of the most old-school investors and biggest supporters of the banking sector, Warren Buffet, sold the majority of his bank stocks this year.

Financial Companies In The Green

Although the crisis reached all companies on the graph above, some have not only recovered but actually increased in the following months. MasterCard stocks plummeted from $345 to $203, while Visa’s nosedive started from $213 and ended at $135. Nevertheless, both companies’ shares are slightly in the green on a year-to-date basis.

Two other financial service companies, but primarily focusing on online endeavors, have marked substantially more impressive YTD results.

PayPal’s stocks (PYPL) started 2020 at $110 and have increased by 94% since then, despite the mid-March slump to $85. Jack Dorsey’s Square’s yearly gains have even seen triple-digit percentages. The 55% dump in March was only a brief obstacle in SQ’s way towards a 178% surge since January 2020.

Interestingly, both firms have embarked on cryptocurrency-related activities in recent months. Square purchased $50 million worth of Bitcoin, while PayPal announced that it will enable its US-based customers to buy, sell, and store several digital assets.

What About Bitcoin And Ethereum?

The cryptocurrency market was not exempt from the mid-March madness. Some alternative coins lost up to 80% of value in hours. The two most well-known representatives, namely Bitcoin and Ethereum, dipped to $3,700 and below $100, respectively.

Percentage-wise, those developments equaled about 50% of losses. However, the rest of the year has been significantly more positive for both. Bitcoin, regarded by some as a safe haven tool with similarities to gold, has overcome its massive slump.

Whether it’s the growing interest from institutional investors, the third halving, or giant companies buying BTC for its store of value characteristics, Bitcoin has surged by more than 80% YTD. Just a few days ago, the primary cryptocurrency charted a new yearly high of over $13,000.

Ethereum, on the other hand, has been widely utilized this year in the ongoing decentralized finance trend. Its blockchain operates as the underlying technology behind most DeFi projects.

This increased utilization led to some unfavorable consequences such as slow transactions and high fees and highlighted a few of the network’s weak points. Price-wise, though, none of that matter as ETH has been on a roll during most of the year, especially since the summer.

As a result, the second-largest cryptocurrency has become the best-performing asset from the ones mentioned above, with an increase of over 200%.

What Could All Of This Mean?

The world is undoubtedly going through changes, primarily prompted by the COVID-19 reality. Social distancing and people working from home have driven society into becoming even more digitally-focused.

The financial world won’t be left behind. People seek more online ventures, and digitally transferred funds will eventually become the new normal.

As such, the decline of traditional financial institutions like banks, and the rise of innovative technologies, including cryptocurrencies, could be just the start of the mass transition to the online world.

SPECIAL OFFER (Sponsored)

Binance Futures 50 USDT FREE Voucher: Use this link to register & get 10% off fees and 50 USDT when trading 500 USDT (limited offer).


Source: https://cryptopotato.com/the-digital-age-is-here-crypto-and-fintech-companies-soar-while-bank-stocks-tank/

Continue Reading

Blockchain

These Are Ripple’s Relocation Options if it Moves Out of the United States

Published

on

Ripple has expressed dissatisfaction over the regulatory uncertainty surrounding cryptocurrencies in the United States. Apart from this, the San Francisco-based firm has also decided to act. By moving out of its home turf. But where will Ripple move next? Here are the relocation options.

Ripple’s Asia Options: Japan, Singapore & the United Arab Emirates

When Ripple’s co-founder and Executive Chairman Chris Larsen threatened to move out of the United States over the federal government’s anachronistic attitude towards cryptocurrency regulation, the message was clear.

During a virtual interview with Fortune at the LA Blockchain Summit, Larsen dropped the ‘relocation bomb.’ The Ripple co-founder also added that the US is far behind in the cryptocurrency regulation game compared to its counterparts. To the point that it actually risks losing its financial innovation edge to China (in particular).

Continuing his commentary, Larsen said that the U.K. and Singapore are the most probable destinations for the company to relocate if it moves base out of the country.

However, yesterday, in an interview with Bloomberg, Ripple CEO Brad Garlinghouse added Japan and the United Arab Emirates too to the list of Asia options. Elucidating the reason for extending the list, he said:

You Might Also Like:

The common denominator between all of them is that their governments have created a clarity about how they would regulate different digital assets, different cryptocurrencies.

He reiterated Chirs Larsen’s stance about the United States’ uncertain regulatory roadmap. He also referred specifically to the conundrum of categorizing cryptocurrencies into a commodity, a currency, a property, or security.

Moving out of the US is more of a compulsion than a desire, Mr. Garlinghouse explained. Ripple would have continued to operate from their home turf if the cryptocurrency regulation scenario was not colloidal.

Ripple is definitely a proud US company and we’d like to stay in the US if that was possible, but we also need regulatory clarity in order for us to invest and grow the business.

Love For London And The United Kingdom

Apart from Asia, Ripple is also strongly considering the UK as an option. This became clear when in an interview with CNBC, the CEO applauded the clarity regarding XRP’s regulatory status in the country.

“What you see in the U.K. is a clear taxonomy, and the U.K.’s FCA took a leadership role in characterizing how we should think about these different assets and their use cases,” Garlinghouse said.

The outcome of that was clarity that XRP is not a security and is used as a currency. With that clarity, it would be advantageous for Ripple to operate in the U.K.”

This is clearly where the US is failing, Mr. Garlinghouse remarked. Although the U.S. Securities and Exchange Commission is clear on Bitcoin and Ethereum not being securities, when it comes to XRP, the authority has mostly stayed mum, which in turn has left the cryptocurrency’s status ‘shrouded in uncertainty.’

The clarification regarding XRP’s ‘security status’ is crucial for Ripple. Even though the company claims total disassociation from the XRP ledger and the token, it still owns 55 billion of the total 100 billion XRP supply.

Apart from the United Kingdom and the aforementioned countries in the Asian continent, Ripple has also shown interest in Switzerland for setting up its headquarters.

Ripple (XRP) price climbed up higher but not necessarily in response to Ripple’s decision to leave the US. The rally can be mostly attributed to bitcoin rushing for the stars with its explosive break past the $13,000 mark.

Will the cryptocurrency-based fintech firm be able to operate with total and unequivocal regulatory clarity in the above countries? It still remains to be seen.

SPECIAL OFFER (Sponsored)

Binance Futures 50 USDT FREE Voucher: Use this link to register & get 10% off fees and 50 USDT when trading 500 USDT (limited offer).


Source: https://cryptopotato.com/these-are-ripples-relocation-options-if-it-moves-out-of-the-united-states/

Continue Reading

Trending