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How to buy, sell and trade Ethereum Classic (ETC)

A beginner’s guide to buying and selling Ethereum Classic in the US.

Updated

Fact checked

Do you want to add Ethereum Classic (ETC) to your crypto portfolio?

Ethereum Classic is listed on a wide range of exchanges, so keep reading for step-by-step instructions on how to buy ETC with US dollars (USD) or another cryptocurrency.

Disclaimer: This information should not be interpreted as an endorsement of cryptocurrency or any specific provider, service or offering. It is not a recommendation to trade.

Skip ahead: What do you want to know?


Quick guide: How to buy ETC

  1. Register for an account on an exchange like eToro
  2. Enable two factor authentication
  3. Choose your deposit method
  4. Enter your deposit amount and initiate the payment
  5. Once your account has been credited, go to the trading page
  6. Choose the cryptocurrency you want to buy
  7. Enter the amount you want to purchase
  8. Check the transaction details and confirm the purchase
Go to eToro's site

This is our quick guide to just one way to buy ETC. Compare some other options in the table below.

Where to buy Ethereum Classic in the US

Name Product Deposit methods Fiat Currencies Cryptocurrencies
Wire transfer,Online banking
USD

15
cryptocurrencies

Disclaimer: eToro USA LLC does not offer CFDs and makes no representation and assumes no liability as to the accuracy or completeness of the content of this publication, which has been prepared by our partner utilizing publicly available non-entity specific information about eToro. Your capital is at risk.

Copy the trades of leading cryptocurrency investors on this unique social investment platform. Non-US residents can read our review of eToro's global site here.
Bank transfer (ACH),PayPal,Bank transfer (SEPA),SWIFT,Xfers,Credit or Debit Card
USD, AUD, CAD, CHF, EUR, GBP, NZD, SGD, JPY, ZAR & 9+ more

66
cryptocurrencies

Get credit card crypto purchase fees waived when signing up for Crypto.com. T&Cs apply.
Buy 55+ cryptocurrencies at true cost, earn up to 8% p.a. on holdings, pay with your crypto for cashback at stores, get loans and more with this complete crypto-finance platform.
Bank transfer (ACH),Credit card,Debit card,Bank transfer (SEPA),Wire transfer
USD, EUR, GBP

24
cryptocurrencies

Buy and sell major cryptocurrencies on one of the world's most renowned cryptocurrency exchanges.
Credit card,Bank transfer (SEPA),SOFORT,SWIFT,Fedwire
USD, EUR, AUD, CAD, GBP, JPY

10
cryptocurrencies

Founded in 2013, CoinMama lets you buy and sell popular cryptos with a range of payment options and quick delivery.
Bank transfer (ACH),Bank transfer,Cryptocurrency,Debit card,Wire transfer
USD

28
cryptocurrencies

Get a US$15 bonus when you trade US$100 or more of any supported crypto. T&Cs apply.
Trade with USD on Binance.US, the American dollar onramp of the world’s largest cryptocurrency exchange. Non-US residents can read our review of Binance's main exchange here.
Credit card,Cryptocurrency,Debit card
USD, EUR, GBP, RUB, CNY, AUD, KRW, JPY, TRY, VND & 40+ more

210
cryptocurrencies

Browse a variety of coin offerings in one of the largest multi-cryptocurrency exchanges and pay in cryptocurrency.
Electronic Funds Transfer,Wire transfer,Osko,PayID,Ethana Custody
USD, EUR, GBP, JPY, CAD, CHF, AUD

40
cryptocurrencies

Buy, sell and trade a range of digital currencies on this high-liquidity exchange – suitable for beginners right through to advanced traders.

UK residents: In addition to normal crypto trading, Kraken offers margin lending. As this is a regulated activity which they are not authorised to offer in the UK, we advise you not to use this service. If you're interested in margin trading, see authorised providers.
Credit card,Cryptocurrency
USD, JPY, RUB, EUR

387
cryptocurrencies

CoinSwitch allows you to compare and convert over 250 cryptocurrencies across all exchanges.
Credit card,Debit card
USD, EUR, GBP, AUD, CAD, CHF, HKD, JPY, PHP, ZAR & 30+ more

146
cryptocurrencies

Access competitive crypto-to-crypto exchange rates for 150+ cryptocurrencies on this global exchange.
AdvCash,Cryptocurrency,Payeer,Perfect Money,Capitalist
USD, RUB

1427
cryptocurrencies

Pay in USD, RUB or trade crypto to crypto at this Russian-based cryptocurrency exchange with hundreds of coins listed.
Huobi Cryptocurrency Exchange
Cryptocurrency
GBP, USD, AUD, EUR, INR, BRL, KHR, CAD,CNY, NZD & 15+MORE

234
cryptocurrencies

Huobi is a digital currency exchange that allows its users to trade more than 190 cryptocurrency pairs.
Coinbase Pro
Bank transfer (ACH),Bank transfer (SEPA),Wire transfer
USD, EUR, GBP

27
cryptocurrencies

Formerly known as GDAX, Coinbase Pro is a US-based exchange which offers fiat currency payment options, including wire transfer, ACH bank transfer and SEPA.
ShapeShift Cryptocurrency Exchange
Cryptocurrency
-

51
cryptocurrencies

Quickly swap between more than 40 cryptocurrency assets or use your credit card to instantly buy bitcoin.
Gate.io Cryptocurrency Exchange
Cryptocurrency
-

36
cryptocurrencies

Bitit Cryptocurrency Marketplace
Cash,Credit card,Debit card,Neosurf,Bank transfer (SEPA)
EUR, USD, JPY, DKK, GBP, SEK, NOK, TRY & 5+ more

50
cryptocurrencies

Buy cryptocurrency with cash or credit card and get express delivery in as little as 10 minutes.
CoinBene Cryptocurrency Exchange
CoinBene Cryptocurrency Exchange
Cryptocurrency
-

50
cryptocurrencies

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Compare up to 4 providers

A step-by-step guide to buying Ethereum Classic

If you want to buy Ethereum Classic, there are two options to choose from:

  • Buying Ethereum Classic with fiat currency, such as USD.
  • Buying Ethereum Classic with another cryptocurrency, such as bitcoin (BTC) or Ethereum (ETH).

If you’re new to cryptocurrency, the quickest and easiest approach is to buy Ethereum Classic with US dollars. However, we’ve also included step-by-step instructions on exchanging another digital currency for Ethereum Classic if that’s your preferred option.

Buying Ethereum Classic with USD

If you want to buy Ethereum Classic with US dollars, here’s an example of how you can do so via Coinbase:

How to sell Ethereum Classic

If you want to sell your Ethereum Classic tokens, the process you’ll need to follow is quite similar to the one described in step 4 above. However, rather than entering your transaction details in the “Buy” tab, you’ll obviously need to look for the “Sell” tab on your exchange’s trading interface.

It’s also worth pointing out that ETC is only listed in a limited range of trading pairs, so it may not be possible to immediately exchange your tokens for the currency you want to acquire.

Which wallets can I use to hold Ethereum Classic?

While you can store your ETC on an exchange if you wish, this is not usually recommended. Not only are exchanges regularly targeted by hackers and thieves, but you don’t have control over the private keys for your exchange wallet. As a result, moving your tokens into a private wallet is generally believed to be a much safer option.

The good news is that there’s plenty of choices when choosing a wallet to store Ethereum Classic. Options you may want to consider include:

Check out our complete guide to some of the best Ethereum Classic wallets.

Ethereum vs Ethereum Classic

Ethereum is an open-source, decentralized platform designed to build and run highly complex smart contracts. Smart contracts are decentralized applications (dapps) that are made to run exactly as programmed without downtime or third-party interference, and Ethereum’s popularity has seen it become one of the world’s largest digital currencies.

But how is it related to Ethereum Classic? In June 2016, the decentralized autonomous organization (DAO), a venture capital fund running on the Ethereum platform, was hacked and more than $50 million was stolen. However, the Ethereum community was split on how to respond to the attack. They could either:

  • Modify Ethereum’s code to revert the hack, which would return all the stolen ETH to its owners but fly in the face of one of the core principles of cryptocurrency: the immutability of the blockchain; or
  • Do nothing and stick to the principle that “code is law” and that transactions are final

The majority of the community favored the former option, so Ethereum underwent a hard fork to revert the hack. However, a smaller section of the community decided to keep the main code exactly as it was, and this currency came to be known as Ethereum Classic.

How Ethereum Classic works

Ethereum Classic is the original Ethereum blockchain. It’s an open-source, peer-to-peer platform where developers can implement dapps and smart contracts.

Ethereum Classic’s native token (ETC) is used to fuel transactions on the network, which itself is underpinned by a couple of key principles:

  • Immutability. ETC accounts cannot be modified by others and all transactions are final.
  • Decentralized governance. The Ethereum Classic community is structured in such a way as to avoid centralized leadership, with the responsibility for development and discussion distributed among a range of parties.

Find out more about how Ethereum Classic works in our in-depth guide.

What to consider before you buy Ethereum Classic

Not only are cryptocurrencies highly volatile, they’re also a lot more complicated than many people realize. There are multiple factors that can influence whether the price of a particular currency rises or falls, so it’s important that you research and understand those factors (as well as the risks involved in purchasing crypto) before you buy.

If you’re thinking of buying Ethereum Classic, consider the following factors:

  • Supply. According to CoinMarketCap, at the time of writing (September 2018) the circulating supply of Ethereum Classic was 104,306,881 ETC.
  • Inflationary. A proof-of-work currency, Ethereum Classic offers block rewards to miners. These block rewards will ensure that ETC is inflationary until the year 2025, when the maximum supply of coins will be capped at around 210 million (and no greater than 230 million).
  • ETC use. ETC is the primary token of the Ethereum Classic platform and it is used to pay for computation on the network.
  • Availability. ETC is widely available on several cryptocurrency exchanges and can be purchased with crypto or fiat currencies. This ease of access for new and experienced traders could help drive demand for Ethereum Classic.
  • Future plans. In 2018, Ethereum Classic developers are working on the Emerald software development kit for the creation of dapps on the platform, as well as working towards introducing sidechains for increased scalability. Looking ahead to 2019, key milestones on the Ethereum Classic roadmap include:
    • Scalability improvement and sharding (towards 1,000+ tx/sec).
    • Light client for IoT (internet of things) and mobile.
    • Interoperability with other blockchains.
  • Competition. Ethereum Classic is operating in a highly competitive space, and will need to do battle with the likes of NEO, Qtum, Lisk and of course Ethereum, the world’s second-largest cryptocurrency.
  • Backing. Ethereum Classic is backed by a strong community and committed developers. While it faces an uphill battle to try and catch up to its better-known sibling, the team behind ETC appears to be prepared to settle in for the long haul.

Compare ways to buy/sell Ethereum Classic

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FAQs

Disclaimer: Cryptocurrencies are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance is no guarantee of future performance. Consider your own circumstances, and obtain your own advice, before relying on this information. You should also verify the nature of any product or service (including its legal status and relevant regulatory requirements) and consult the relevant Regulators' websites before making any decision. Finder, or the author, may have holdings in the cryptocurrencies discussed.

Image: Shutterstock

Disclosure: At the time of writing the author holds ADA, ICX, IOTA and XLM.

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