Where and How to Buy and Sell Ethereum (ETH) or Cryptocurrency in Weifang, China with 350++ Payment methods?
Ethereum (ETH) is open access to digital money and data-friendly services for everyone â€“ no matter your background or location. It’s a community-built technology behind the cryptocurrency ether (ETH) and thousands of applications you can use today.
Ethereum (ETH) is a type of virtual smart contract that you can use for digital purchases or you can trade like stocks or bonds. To buy and sell cryptocurrency including Ethereum (ETH), you need to use an Ethereum (ETH) exchange.
The best cryptocurrency exchanges are secure, cost-effective, quick to set up, easy to use, and accept a variety of funding sources. Here are our picks for the best places to buy Ethereum (ETH).
The cryptocurrency exchange you use will depend on what your goals are. Some people buy only Ethereum (ETH), while some buy many cryptos. Some trade, while some buy and hold.
We’ll outline some of the best options for each type of buyer and trader.
Best for Buying Ethereum (ETH) in Weifang, China
If your only goal is to buy Ethereum (ETH), Ethereum (ETH) or another coin, the following exchanges have smooth and easy buying processes:
Best for Buying Ethereum (ETH) in Weifang, China #1:
Paxful is a peer-to-peer (P2P) marketplace where users can buy and sell Ethereum (ETH) with 380+ payment methods. Fow now, Paxful has 12,000+ Trusted offers, 12,000+ Trusted vendors and 4,800,000+ Happy customers. Simply select your preferred payment method and type in how many Ethereum (ETH) you will buy. Be sure you choose reputable traders.
Paxful was started in 2015 by Ray Youssef and Artur Schaback. It operates across major cities globally. Ever since its launch, Paxful has allowed sellers to sell Ethereum (ETH) without any hassles. Vice versa, the buyers also benefit from multiple payment options, smooth transactions and seller trust ratings. It fills the gap between miners and exchanges.
Unlike exchanges that grapple with geographic restrictions, Paxful allows buyers the freedom to choose the seller and connect independently. It truly represents the spirit of the decentralized concept of cryptocurrencies.
With Paxful you can elevate your financial freedom to a higher plane with Paxful:
- Buy Ethereum (ETH) on Paxful in real time. Trade with other users online using live chat.
- Sell your Ethereum (ETH) at your chosen rate, and get paid in one of numerous payment methods.
- Your Ethereum (ETH) is held in our secure escrow until the trade is completed successfully.
- Their user feedback system enables you to identify trusted and experienced peers to trade with.
- Get a life-time free Ethereum (ETH) wallet maintained by BitGo, the leading provider of secure Ethereum (ETH) wallets.
- Take advantage of our Affiliate Program to create a steady income stream.
Become a vendor on Paxful and empower millions around the world with financial freedom. Offer multiple payment methods that buyers like, eliminate middlemen, and they will help you with all the resources and guidance needed to succeed.
Best for Buying Ethereum (ETH) in Weifang, China #2:
LocalCoinSwap describes itself as a community-owned, peer-to-peer (P2P) cryptocurrency exchange that connects people from all around the world to buy and sell a variety of the most popular cryptocurrencies. As there is no KYC or ID verification required to get started, trading is reportedly fast, secure and private. After creating a free trade advertisement, users can reportedly start trading locally or internationally with people, established businesses, and OTC cryptocurrency brokers worldwide.
LocalCoinSwap currently supports P2P trading across a host of cryptocurrencies. It reportedly supports 250+ payment methods including cash, bank transfer, Zelle Pay, Skrill, international wire, Paypal, cash deposits, Western Union, Amazon gift cards, iTunes gift cards, and 160+ fiat currencies. The team claims that its availability in 190+ countries makes it the largest selection of currencies available on any P2P platform worldwide.
LocalCoinSwap claims to offer 24/7 customer service and a revenue-sharing model that uses 20% of the platform trade fee revenue to buyback and subsequently burn their native LCS token.
Best for Trading Ethereum (ETH) in Weifang, China
If you plan on trading in and out of different coins, the following exchanges support many cryptocurrencies:
Best for Trading Ethereum (ETH) in Weifang, China #1:
The best crypto-to-crypto exchange for beginners is probably Binance. Binance is a centralized cryptocurrency exchange located in Cayman Islands. There are 293 coins and 994 trading pairs on the exchange.
The main reasons are:
- Binance’s mobile apps make it easy to use for beginners
- Binance’s web interface is quite simple to use as well
- You can start trading instantly on Binance with just an email addresEthereum (ETH)
- You can use its native BNB coin to get discounts on trading
- Binance is the world’s largest exchange according to CoinMarketCap and Coingecko
Best for Trading Ethereum (ETH) in Weifang, China #2:
The best fiat-to-crypto exchange for beginners is probably Coinbase Pro. Coinbase Pro is a centralized cryptocurrency exchange located in United States. There are 47 coins and 142 trading pairs on the exchange.
I say this for a few reasons:
- It has the best user interface and is very easy to use
- The verification process is fast so you can buy almost instantly
- It has excellent mobile apps for iPhone and Android
- It’s a regulated exchange and its cash holdings are FDIC insured.
Best for Trading Ethereum (ETH) in Weifang, China #3:
Bitfinex is a large yet controversial exchange. It’s biggest claim to fame is the creation of the first stablecoin, Tether (USDT). Bitfinex is a popular exchange because in terms of USD trading volume it has the most liquidity. It currently owns about a 10% share of the US dollars trading market. Because of its confusing interface, it’s probably only a good choice for traders who really know what they are doing.
Despite getting hacked and losing $70 million or more in customer funds, Bitfinex remains a popular option for serious traders. Still, the hack is scaring some people away.
One thing that has made Bitfinex popular is that if you only make a deposit with cryptocurrency no verification is required. If you want to deposit dollars or euro then you WILL have to verify your ID.
Bitfinex offers very low fees even for low volume buyers, at 0.1% per buy for market makers and 0.2% per buy for market takers.
Things to keep in mind
While a cryptocurrency exchange with high volumes definitely presents an advantage for the user, it is worth keeping in mind that it shouldnâ€™t be the definitive criteria. Exchanges have been known to manipulate trading volumes with the help of bots. Additionally, high volumes arenâ€™t a guarantee that a cryptocurrency exchange is entirely reliable.
For instance, Bitfinex, the forth name on the list above, was hacked in August 2016 and $72 million in Ethereum (ETH) was stolen from this exchange. Just before the theft, Bitfinex was fined by the U.S. Commodity Futures Trading Commission for offering illegal commodity transactions. As such, users shouldnâ€™t rely on volume alone while selecting a cryptocurrency exchange.
Moreover, certain new exchanges have been growing at a really impressive rate. Gemini, for instance, was witnessing 100% volume growth every two days back in 2015, and it is now looking to widen its horizons by bringing institutional investors into the cryptocurrency market. This should ensure further volume growth going forward, which also means that users shouldnâ€™t restrict themselves to exchanges with only high volumes and consider other options as well that are fast coming up.
What is a Ethereum (ETH) Exchange?
An Ethereum (ETH) exchange is a digital marketplace where you can convert currency like U.S. dollars into Ethereum (ETH). Many exchanges that support Ethereum (ETH) also support other digital cryptocurrencies.
Every Ethereum (ETH) exchange uses its own pricing and platform, which may instantly draw you to one exchange over another. Advanced Ethereum (ETH) users may be interested in more details about the type of exchange.
For example, some exchanges use centralized systems and user accounts while others are decentralized with a focus on privacy. Depending on what youâ€™re trying to accomplish, you may prefer one type of exchange over another.
How Does a Ethereum (ETH) Exchange Work?
Ethereum (ETH) exchanges connect buyers and sellers and act as a middleman, or a broker, in some cases. When you buy Ethereum (ETH) using an Ethereum (ETH) wallet, the transaction is recorded on the Ethereum (ETH) Blockchain, which publicly tracks Ethereum (ETH)-based transactions. In some cases, exchanges may transact on your behalf and not deliver Ethereum (ETH) to an external digital wallet.
What Are Some Differences Between Ethereum (ETH) Exchanges and Wallets?
Ethereum (ETH) exchanges are a place you can buy and sell Ethereum (ETH). In many cases, the exchange also includes a wallet, which is the â€œaccountâ€ that holds your cryptocurrency. When you use a centralized exchange online or through a mobile app, the exchange will effectively hold the Ethereum (ETH) on your behalf.
Ethereum (ETH) also enables you to use external wallets outside of an exchange. These include computer-based and web-based â€œhot walletsâ€ and offline â€œcold walletsâ€ that work kind of like a USB security fob. If you buy Ethereum (ETH) at most exchanges, you have the option to transfer your coins to any Ethereum (ETH) wallet.
What Are Some Differences Between Ethereum (ETH) Exchanges and Mining Software?
Ethereum (ETH) mining software is a type of application that helps maintain the Ethereum (ETH) Blockchain. Every transaction on the blockchain is public and recorded on countless computers around the world. When a transaction takes place, computers called miners race to record the transaction and get a small fee, which is paid by those who make the transaction.
When you run an Ethereum (ETH) miner, you can effectively â€œcreateâ€ your own Ethereum (ETH) if you win the race and get paid the transaction fee. To improve your chances, you can join a pool with other miners. However, be aware that mining is very power-intensive and could wind up costing you more than it makes you. Ethereum (ETH) mining is best for those who are very computer savvy.
Is Buying Ethereum (ETH) Safe?
Buying Ethereum (ETH) is safe whenever you use a vetted and respected platform. Itâ€™s important to research any platform where youâ€™re considering purchasing Ethereum (ETH) before you decide to take the plunge.
In terms of Ethereum (ETH) being a safe investment, the value fluctuates more frequently than many other traditional investments. If youâ€™re looking to support a decentralized method of making payments, Ethereum (ETH) can be valuable.
However, thereâ€™s no guarantee or insurance protecting any value of what you’re purchasing.
How Can I Buy Ethereum (ETH ?
If youâ€™re looking to buy Ethereum (ETH), follow these steps to get started:
- Pick an exchange and wallet provider: The first step is to pick a place to buy and store your Ethereum (ETH). The easiest and fastest way to start is to choose an exchange that also offers secure Ethereum (ETH) storage.
- Open an account: Once youâ€™ve picked your favorite exchange, you will most likely need to open an account and supply basic personal information. Some decentralized exchanges donâ€™t require an account, but youâ€™ll need an existing wallet and more technical know-how to use this type of exchange.
- Fund your account: If you choose a provider that allows you to deposit fiat current (USD, EUR, GBP, etc.), youâ€™ll probably have to fund your account before you can make an order. You may be able to buy right away with a debit or credit card, but beware of extra fees.
- Place an order: Now itâ€™s time for the big moment. Place your order and wait for it to fully execute. Because blockchain processing takes some time, your purchase may not be instant. There are many factors that can lead this to take anywhere from a few minutes to over an hour to complete.
Once your order is done, you should see your new Ethereum (ETH) in your Ethereum (ETH) wallet or account. Congratulations! You’re a cryptocurrency owner.
How We Chose the Best Places to Buy Ethereum (ETH)
We looked at more than a dozen of the best places to buy and sell Ethereum (ETH) online and settled on the top six places based on a number of factors. These factors included the history of the exchange, customer reviews, the fees each charge, the strength of features for each digital wallet, and the speed at which you can buy Ethereum (ETH).