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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 Indonesian rupiah (IDR) or another cryptocurrency.
If you want to buy Ethereum Classic, there are two options to choose from:
If you’re new to cryptocurrency, the quickest and easiest approach is to buy Ethereum Classic with Indonesian rupiah. However, we’ve also included step-by-step instructions on exchanging another digital currency for Ethereum Classic if that’s your preferred option.
If you want to buy Ethereum Classic with Indonesian rupiah, here’s an example of how you can do so via Indodax:
You can also acquire Ethereum Classic using another cryptocurrency. Here’s an example of how you can buy Ethereum Classic on Binance:
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.
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 choice when choosing a wallet to store Ethereum Classic. Options you may like to consider include:
Check out our complete guide to some of the best Ethereum Classic wallets.
But how is it related to Ethereum Classic? In June 2016, the decentralised autonomous organisation (DAO), a venture capital fund running on the Ethereum platform, was hacked and more than US$50 million was stolen. However, the Ethereum community was split on how to respond to the attack. They could either:
The majority of the community favoured 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, with this currency soon coming to be known as Ethereum Classic.
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:
Find out more about how Ethereum Classic works in our in-depth guide.
Not only are cryptocurrencies highly volatile, they’re also a lot more complicated than many people realise. 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:
Compare ways to buy/sell Ethereum Classic
Back to topDisclosure: At the time of writing the author holds ADA, ICX, IOTA and XLM.
Will the price of Ethereum Classic (ETC) head up or down in the coming weeks and months, and why? Find out in this handy guide.
