How to Buy Ethereum in South Africa
Many people are currently looking for guides on how to buy Ethereum in South Africa. It’s no surprise since Ethereum is the worlds second biggest cryptocurrency, after Bitcoin. The price of Ethereum has shot up over the past few years. The first recorded price of Ethereum was $0.30 when ETH had its ICO in 2015. At the time of writing the price is $235, and it reached a high of over $1400 during 2017!
What is Ethereum?
A developer named Vitalik Buterin created Ethereum in 2015. Ethereum is slightly different to Bitcoin. Rather than challenging the current financial system, Ethereum aims to be the worlds first decentralized platform than runs decentralized applications, also known as dApps.
Anyone in the world can develop and deploy decentralized applications and tokens on top of the Ethereum blockchain. Businesses have been showing a keen interest in Ethereum as it allows them to utilize blockchain technology without having to build and develop their own, unique blockchain.
What are the use cases of Ethereum
One of the biggest use cases is currently tokens running on the Ethereum blockchain, these are known as ERC20 tokens. These are essentially other cryptocurrencies built on Ethereum. If we take a look at CoinMarketCap, we can see that Ethereum is dominating in the token industry.
Another big use case is smart contracts. A smart contract is essentially a program or computerized contract that’ll execute once a certain task has been complete or a certain condition has been met. Some real world examples of how smart contracts can be used include:
- Smart contracts can be used by insurance companies.
- Smart contracts can be used for voting or elections.
- They’re great for fundraising.
- Companies trying to earn money through an ICO can use smart contracts.
How can I buy Ethereum in South Africa?
To buy Ethereum easily in South Africa you’ll need to setup an account with a local exchange or broker. Exchanges tend to be quite confusing and intimidating, especially if you’ve never used one before. Luckily, Easy Crypto is simple and easy to use for anyone in South Africa!
Easy Crypto makes it easy for anyone in South Africa buys Ethereum instantly and over 70 other cryptocurrencies! Follow these simple steps to get started with Easy Crypto:
- Sign up
Head over to Easy Crypto’s sign up page and create an account. You can create an account with your email address, Google account, Facebook account or Twitter account.
- Verify your account
Get your account verified. This should only take a couple of minutes!
- Start buying Ethereum
Once your account has been verified you can start buying Ethereum or other cryptocurrencies. Simply go to our home page and enter the amount of Ethereum you’d like to buy.
- Provide your crypto wallet address
Provide us with your Ethereum address where you’d like the coins to be delivered.
- Choose your payment method
- You’re all done!
Now you can sit back and relax while you wait for your Ethereum to arrive.