How to buy Ethereum Classic (ETC) with Giropay via bitFlyer
Before we go into details about buying Ethereum Classic on bitFlyer, it’s worth mentioning that Ether Classic is a platform based on the original Ethereum chain by developers who didn't agree with the changes in the original ETH concept after certain events unfolded with the DAO project in 2016.
Like many other people in the crypto community, creators of this coin adhere to the principle of "code is law". According to their statements, this project represents what is called true decentralization. At the same time, the coin itself did not disappoint in technical terms. It is deprived of intermediaries for financial transactions (and, therefore, extra commissions), while also supporting a wide range of functions for creating, implementing and supporting smart contracts. Developers position the project as unstoppable, programmable money.
To buy Ethereum Classic on our site, you can choose any method convenient for you, but we will focus on using Giropay, a third-party payment service provider from Germany.
Advantages of buying Ethereum Classic (ETC) with Giropay
If we were asked to describe Giropay in one sentence, we would probably say that it is like a usual bank transfer, but much faster. This service was created by leading financial institutions and has become one of the primary online payment methods for bank clients across Germany.
The core benefits of Giropay are security and a seamless shopping experience. Each purchase with this service is a reliable, secure, and direct transaction between the consumer's bank account and the merchant that receives the funds. The buyer doesn’t need a credit or debit card, nor do they need to share too many data on the network. The payment is processed directly by the payer’s online bank account.
It is worth noting that, although today more than 80 million people use Giropay, and the service itself supports more than 1,500 banks, it is not available for all countries and all banks. If you decide to use this method, we recommend checking whether your bank supports Giropay or not.
Steps to buying Ethereum Classic (ETC) with Giropay on bitFlyer
Let's proceed directly to the purchase process. Any registered bitFlyer user with a verified account can buy ETC. If you are already registered, you most likely have already confirmed the validity of your email and phone. If everything went well, your account has a Trade class and small restrictions on the amount of daily and annual purchase of cryptocurrencies. If you want to remove them, in addition to the initial information provided, you will need to go through our KYC policy, confirming your ID and residential proof.
- In order to buy Ethereum Classic, go to the Instant Buy tab, select Ethereum Classic, and indicate the amount you wish to purchase. For the convenience of users, we have predefined purchase amounts, which will immediately show how much cryptocurrency you will receive.
- After specifying the amount, select the payment method by clicking on the Giropay icon. The system will automatically generate an invoice indicating the fees and the total purchase amount. To continue, click on the checkbox indicating that the name used for your payment method matches the name registered on your bitFlyer account.
- After clicking on the Continue button, you will be redirected to the official Giropay page. Follow the payment instructions provided on this page to complete the payment. Depending on the settings of your bank, Giropay may require additional verifications.
- Once the transaction is complete, you can use your crypto assets, which will be immediately deposited to your trading account.
Other methods for buying Ethereum Classic (ETC)
If your country or bank does not support Giropay, you can still purchase Ethereum Classic on bitFlyer. There are several ways to do it, so pick the method that suits you best. You can:
- Use a standard bank SEPA-transfer available to clients of almost all European banks
- Buy Ethereum Classic with a VISA / Mastercard credit or debit card
- Use iDeal or Sofort, third-party payment systems similar to Giropay
- Exchange your already owned crypto on bitFlyer to then buy Ethereum Classic