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

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

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.

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.

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Where to buy Ethereum Classic in Indonesia

Name Product Deposit methods Fiat Currencies Cryptocurrencies
Coinbase Digital Currency Exchange
Bank transfer (ACH), Credit card, Debit card, PayPal, Wire transfer
USD, EUR, GBP, CAD, MXN, HRK, CZK, DKK, CLP, BGN

236
cryptocurrencies

Get £5 free with your first trade. T&Cs apply.
Buy and sell major cryptocurrencies on one of the world's most renowned cryptocurrency exchanges.
Paybis Cryptocurrency Exchange
Paybis Cryptocurrency Exchange
Bank transfer, Cryptocurrency, Neteller, Skrill, Credit or Debit Card
EUR, GBP, USD, AUD, CAD, PHP, SGD, CHF, HKD, JPY & 30+ more

404
cryptocurrencies

Buy Bitcoin and other popular cryptocurrencies with credit card or debit card on this digital cryptocurrency exchange.

US residents: Restricted in the following states - NY, CT, NM, WA, HI, AL, VT, FL, AK, NV.
Coinmama Cryptocurrency Marketplace
Fedwire, SEPA, Google Pay, SWIFT, Bank card
USD, EUR, AUD, CAD, GBP, JPY

18
cryptocurrencies

Founded in 2013, CoinMama lets you buy and sell popular cryptos with a range of payment options and quick delivery.
Bittrex Global
Bittrex Global
Bank transfer, Credit card, Cryptocurrency, Debit card
USD, EUR

339
cryptocurrencies

Buy from one of the largest cryptocurrency exchanges with a selection of over 190+ cryptocurrencies and 3 USD pairings.
Bitfinex Professional Trading Exchange
Bitfinex Professional Trading Exchange
Credit card, Cryptocurrency, Bank Wire
USD, EUR, GBP, JPY

214
cryptocurrencies

Cryptocurrencies are a highly volatile investment product. Your capital is at risk.
Spot trade all of the major cryptos on this full-featured exchange and margin trading platform.
Changelly Crypto-to-Crypto Exchange
Changelly Crypto-to-Crypto Exchange
Credit card, Cryptocurrency
USD, GBP, EUR, CAD, MXN, HKD, RUB, NZD, SGD, JPY & 40+ more

389
cryptocurrencies

Access competitive crypto-to-crypto exchange rates for 150+ cryptocurrencies on this global exchange.
KuCoin Cryptocurrency Exchange
KuCoin Cryptocurrency Exchange
Bank transfer, Cryptocurrency, PayPal, Debit/credit cards, Zelle
USD, EUR, GBP, RUB, CNY, AUD, KRW, JPY, TRY, VND

747
cryptocurrencies

Sign up and get up to US$10 in rewards. Make trades to get up to US$500 in rewards. T&Cs apply.
Browse a variety of coin offerings in one of the largest multi-cryptocurrency exchanges and pay in cryptocurrency.
Huobi Cryptocurrency Exchange
Huobi Cryptocurrency Exchange
AdvCash, Cryptocurrency, Wire transfer, SWIFT
GBP, USD, AUD, EUR, INR, BRL, KHR, CAD,CNY, NZD, RUB

597
cryptocurrencies

Huobi is a digital currency exchange that allows its users to trade more than 190 cryptocurrency pairs.
Bithumb Cryptocurrency Exchange
Bithumb Cryptocurrency Exchange
Cryptocurrency
KRW

197
cryptocurrencies

A global platform where users can make KRW and cryptocurrency deposits to purchase up to 15 popular cryptocurrencies.
ShapeShift Cryptocurrency Exchange
ShapeShift Cryptocurrency Exchange
Credit card, Cryptocurrency, Debit card, Banxa
-

50
cryptocurrencies

Quickly swap between more than 40 cryptocurrency assets or use your credit card to instantly buy bitcoin
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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 IDR
  • 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 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.

Buying Ethereum Classic with IDR

If you want to buy Ethereum Classic with Indonesian rupiah, here’s an example of how you can do so via Indodax:

Buying Ethereum Classic with another cryptocurrency

You can also acquire Ethereum Classic using another cryptocurrency. Here’s an example of how you can buy Ethereum Classic on Binance:

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 choice when choosing a wallet to store Ethereum Classic. Options you may like to consider include:

  • Hardware wallets like the Ledger Nano S and TREZOR
  • Desktop wallets like Emerald, Exodus and Parity
  • Mobile wallets like Coinomi and Trust
  • Web wallets like ClassicEtherWallet and MyEtherWallet

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

Ethereum vs Ethereum Classic

Ethereum is an open-source, decentralised platform designed to build and run highly complex smart contracts. Smart contracts are decentralised 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 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:

  • 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 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.

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.
  • Decentralised governance. The Ethereum Classic community is structured in such a way as to avoid centralised 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 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:

  • 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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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.

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

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