If you’re ready to buy some Ethereum Classic (ETC) for yourself but unsure where to begin, this user-friendly guide will tell you everything you need to know.
First and foremost, you will need a Coinbase account. There are other exchanges you can use, but for this guide, we’ve selected Coinbase as it is one of the most secure cryptocurrency exchanges.
If you already have an account set up with Coinbase, proceed to the steps below. If not, start by reading this guide on the Coinbase signup process.
1. Buy Ethereum Classic (ETC)
Once you’re in your Coinbase account, you will automatically arrive on your dashboard.
This is your account’s main screen which shows your portfolio value and the real-time prices of the five cryptocurrencies supported by Coinbase.
If this is your first purchase, no data will be shown in your portfolio value section just yet.
At the top left, you will see various menu options. To begin the purchasing process, select the “Buy/Sell” tab.
2. Select Ethereum Classic (ETC) and Pick Your Payment Method
When get to the Buy/Sell page, you will see two sections. In the left section, you will see a Buy and Sell tab.
The page will automatically open to the Buy tab which is where you need to be. Within the Buy tab, you will see an option called “Cryptocurrency.”
Here you will use the drop-down to select the coin you would like to purchase. In this case, choose Ethereum Classic.
Next, in the below section titled “Payment Method,” you will use the drop-down to choose which account you would like to use for this transaction.
Any accounts you linked during your Coinbase account setup should be in the drop-down. Once Ethereum Classic and your payment method are selected, continue down to the “Amount” section for the next step.
3. How Much ETC Do You Want to Buy?
In the amount section, you will enter the amount of USD you would like to invest in Ethereum Classic.
When you pick your dollar value, Coinbase will automatically calculate how much it equates to in ETC.
The ETC amount will appear in the box to the right of USD. Review the information you have entered to make sure it is all accurate and lines up with the transaction you wish to make.
Once reviewed, click the “Buy Ethereum Classic” button at the bottom. Not to worry, there is one more confirmation step after you click.
4. Confirm Your ETC Transaction
A screen will appear prompting you to confirm your transaction. Above the confirmation button is some important information about your purchase. The information includes:
- Your payment method
- Where your ETC will be deposited to (it will default to your ETC wallet on Coinbase)
- When your ETC is available for trade on Coinbase
- When your ETC is available for withdrawal
Take a look over this information. If you’re comfortable with the transaction information, go ahead and click “Confirm Buy” on the right side of the screen.
It is important to note that you cannot cancel your transaction once it is marked as pending or confirmed. Though, Coinbase may cancel your transaction if you do not have sufficient funds in your account.
5. Await Your Ethereum Classic (ETC) Purchase Confirmation
When you click “Confirm Buy” the next step is simple, just sit back and wait for your confirmation email.
In the meantime, Coinbase will ask you to invite your friends to Coinbase to earn free cryptocurrency through their referral program.
6. Review Your ETC Purchase
Once the email arrives in your inbox, open it up and read the information within. It will include a reference number for your purchase and all of your transaction details.
Be sure to save this email. Once you receive your email, your purchase is officially complete, and you can view your investment’s status on your dashboard.
How to Buy Ethereum Classic (ETC): Additional Information
You now know how to buy Ethereum Classic. Once you own ETC, it is up to you how to proceed. You can either HODL, trade, invest more, or withdraw your funds after the designated period has passed.
Before conducting a number of Ethereum Classic transactions, be sure to review your first transaction and take into account the fee structure. You can also learn more about Coinbase’s fees on within their User Agreement.
Additionally, it can be wise to move your funds from their automatic location on Coinbase’s hosted wallet to a separate digital wallet. Doing this provides an added layer of safety as you are not conducting all your digital currency activity in one place.