How to buy Ethereum (ETH) with iDEAL
Ethereum is a cryptocurrency like Bitcoin, which you’ve probably heard of. Unlike Bitcoin, Ethereum was developed not for use as a digital currency, but as a way to complete something called “smart contracts”.
Smart contracts are a bit confusing for the uninitiated, but to put it simply, smart contracts are small computer programs that are written into the Ethereum blockchain. Contracts can be used to make robust financial agreements that are stored on the blockchain and only release funds when certain conditions are probably met. The idea is quite revolutionary, taking a process that’s traditionally facilitated by an extremely centralized banking industry and making it possible to complete in a decentralized manner.
All of that being said, Ethereum tokens, called Ether, are still broadly used as a financial and speculative instrument without regard for the underlying functionality of the blockchain.
Generally considered the number two cryptocurrency, Ethereum has a market capitalization second only to Bitcoin, the king of coins. It’s available anywhere that cryptocurrencies are traded. But few exchanges offer the ease and convenience offered by bitFlyer and iDEAL payment systems.
bitFlyer is a simple and secure platform that makes crypto-trading a breeze. iDEAL offers direct and immediate online transfers from your bank account. On bitFlyer, we use iDEAL for Instant Buy transactions, so that you can buy Ethereum or any other coin directly from us, without waiting for a seller.
Advantages of buying Ethereum (ETH) with iDEAL
If you plan to buy the cryptocurrency Ethereum, you should consider using iDEAL on bitFlyer, especially if you’re a beginner. Here’s why:
- Payments with iDEAL are made instantly. You don’t have to wait while money is being transferred, which is important for the cryptocurrency market where exchange rates are changing constantly.
- iDEAL payments appear in your bank statement immediately, no pending transactions and no uncertainty about your balance.
- You don’t have to make an account with iDEAL. iDEAL simply facilitates the transfer directly from your bank account.
- Our interface is focused on user-friendliness, transactions are simple and convenient.
- Safety and security are guaranteed. iDEAL is trusted by millions of consumers every day, and bitFlyer is committed to digital security, featuring top of the line encryption.
Steps to Buy Ethereum (ETH) With iDEAL on bitFlyer
Here’s what you need to do to get ETH on bitFlyer:
- Create an account on bitFlyer. You’ll need to verify your email address and provide some personal details.
- Log in and go to Instant Buy.
- Select Ethereum (ETH).
- Enter the amount of Ethereum (ETH) that you’d like to buy.
- Select the iDEAL payments method.
- iDEAL will take you to your bank’s application to authorize the purchase. You’ll have to log in.
- After authorization, you can return to bitFlyer where your Ethereum will be waiting in your virtual wallet.
Congratulations, you’ve entered the world of cryptocurrency investment!
Other Methods to Buy Ethereum (ETH)
Instant Buy purchases can be completed with a few other payment methods if iDEAL isn’t your first choice. Sofort and Giropay are similar instant payment options, or you can use your credit or debit card.
If you’d rather send money to your account in advance, we also accept SEPA bank transfers. SEPA transfers take a few days to arrive, though, so you can’t use them for immediate purchases. Once you get the funds, they’ll be safely stored in your virtual wallet just like your cryptocurrency and you’ll be able to use them for trades at any time.