How to buy Ethereum Classic (ETC) in the UK
Learn how to buy Ethereum Classic (ETC) on 5+ crypto exchanges in our step-by-step guide.
You can buy Ethereum Classic (ETC) on a cryptocurrency exchange like eToro. These specialised marketplaces that allow you to buy and sell cryptocurrencies, and work similar to stock trading platforms. Ethereum Classic is the original Ethereum blockchain. Here's how to buy Ethereum Classic.
How to buy Ethereum Classic in 4 easy steps
The whole process can take as little as 15 minutes and all you'll need is a smartphone or computer, an internet connection, photo identification and a means of payment.
- Compare crypto exchangesThe easiest way to buy Ethereum Classic is from a cryptocurrency exchange. Comparing in the table below lets you find one with the features you want such as low fees, ease of use or 24-hour customer support.
- Create an account To create an account on an exchange, you will need to verify your email address and identity. Have some photo ID and your phone ready.
- Make a depositOnce verified, you can deposit £ using the payment method that best suits you – debit card, neteller, PayPal and wire transfer payments are widely accepted.
- Buy Ethereum Classic You can now exchange your funds for Ethereum Classic. On easier-to-use exchanges, this is as simple as entering the amount you want to purchase and clicking buy. If you like, you can now withdraw your Ethereum Classic to your personal wallet.
Where to buy Ethereum Classic in the UK
Find an exchange to buy, sell and trade ETC by comparing deposit methods, supported fiat currencies and fees. Select Go to site to sign up directly with the provider.
How do I find the best places to buy Ethereum Classic?
Cryptocurrency exchanges offer similar services, but differ in a few key ways – mainly fees, the range of cryptos available and payment methods. You can use our table to compare the features of popular cryptocurrency exchanges available in the UK to help you choose the one that's right for you.
Some other factors you may want to consider are customer support, user reviews, ease of use and whether or not the exchange is registered with a local regulator. This information can be found by clicking on the exchange name in the table which will take you to its review page.
What will I need to buy Ethereum Classic?
To create an account on any cryptocurrency exchange you will need an email address. Some exchanges may also ask for a phone number and photo ID, so it's a good idea to have those ready.
An increasing number of cryptocurrency exchanges will ask to verify your identity before you can deposit funds and start trading Ethereum Classic.
- This process is known as Know Your Customer (KYC) and usually requires photo ID and a webcam or smartphone. You may also need to prove your address by uploading a copy of a recent bank statement or utility bill.
- Some exchanges allow you to deposit and trade cryptocurrencies without passing KYC, but they will not allow you to transfer local currency from your bank account. So if you are planning on purchasing ETC with your local currency then you will need to pass KYC.
- Once you have verified your identity, it is a good idea to enable 2-factor authentication (2FA) before depositing any funds. This will increase the security of your account and help keep your funds safe.
What is the easiest way to buy Ethereum Classic?
The easiest way to buy ETC is by placing an 'instant buy' order to purchase it for a fixed price but not all crypto exchanges offer this feature.
Alternatively, you can open a trade on the spot market which allows you to set your own price – this is the most common way to purchase cryptocurrency. Using the instant buy feature is straightforward but typically more expensive than using the spot market.
Before buying ETC, you may want to check the market conditions. To help you decide if now is the right time to buy, you can take a look at our Analysis tools to get an idea of how the price of Ethereum Classic has been performing recently.
Best Ethereum Classic wallets to store your ETC
You can keep your ETC on the exchange you purchased it on, or move it to a personal wallet:
- Some people like to use their own wallets to guarantee total ownership over their assets, or to use them with other applications like DeFi services.
- Hardware wallets are typically considered to be the safest type of cryptocurrency wallet, as they use a physical device to enhance security in a number of ways. You can learn more about wallets and compare them with our comprehensive guide.
Is Ethereum Classic a good investment?
Before deciding whether or not to invest in ETC, it is vital you understand a few of the factors that may influence the price of the coin:
- Proof-of-work. After the 2016 fork, Ethereum switched to a proof-of-stake mechanism, which involves users locking up tokens on the network to validate transactions. However, Ethereum Classic maintains a proof-of-work consensus mechanism, which works much like mining bitcoin. This means you cannot stake your ETC for additional rewards and that the cryptocurrency places a higher strain on the environment than alternatives.
- Competition with Ethereum. Ethereum Classic exists in a very tight market space, much of which is already taken up by its sibling, Ethereum (ETH). If you do decide to purchase ETC, it is imperative you understand how it differs from Ethereum. Otherwise, it would likely make more sense to invest in Ethereum due to its much higher use-case, adoption and market cap.
- Hacks. After Ethereum Classic split from Ethereum in the first place due to a hack, it has been on the receiving end of a number of other exploits. In the month of August 2020 alone, the network encountered three separate 51% attacks which resulted in hackers making away with millions worth of ETC. A number of exchanges reacted by removing Ethereum Classic from their platforms.
Additional information about Ethereum Classic can be found using our ETC analysis tools.
Today's Ethereum Classic price versus ATH
Compare today's price of Ethereum Classic ($15.28 USD) against its all-time-high price of $2016-07-25T00:00:00.000Z USD on 01 January 1970. The closer the bar is to 100%, the closer ETC is to reaching its ATH again.
ATH date: July 25, 2016
Ethereum Classic ATH: $167.09
How to trade, convert or sell Ethereum ClassicYou can convert or sell your ETC with the same exchange you bought it through:
- Sign in to the exchange you have ETC on.
- If you store your Ethereum Classic in a digital wallet, compare crypto exchanges to convert or sell it on.
- Choose Sell or Convert and place a sell order.
- Choose the amount of ETC you'd like to convert or sell.
- Confirm the sell price and fees and close your sale of Ethereum Classic.
- Complete your transaction and move your ETC to a wallet for storage.
Cryptocurrencies are speculative and investing in them involves significant risks - they're highly volatile, vulnerable to hacking and sensitive to secondary activity. The value of investments can fall as well as rise and you may get back less than you invested. Past performance is no guarantee of future results. This content shouldn't be interpreted as a recommendation to invest. Before you invest, you should get advice and decide whether the potential return outweighs the risks. Finder, or the author, may have holdings in the cryptocurrencies discussed.
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