How to Buy Ethereum in Hong Kong? Here’s a step-by-step guide.
Ethereum is the second largest cryptocurrency (market cap at time of writing: $70 billion) and one of the hottest investments right now.
It’s a blockchain-based software platform that enables developers to build decentralized applications (known as Dapps).
Ethereum also has its own digital currency called ‘ether’ which can be used as a payment token to operate these apps.
Ethereum is not just another cryptocurrency, it’s an entire blockchain ecosystem available for anyone who wants to build decentralised apps or launch their own tokens.
This article will walk you through how to buy ethereum in Hong Kong.
What is Ethereum?
Ethereum is a blockchain-based software platform that enables developers to build decentralized applications (known as Dapps). Dapps are applications that run on a P2P network of computers rather than a single computer or server.
Ethereum also has its own digital currency called ‘ether’ which can be used as a payment token to operate these apps. So Ethereum is not just another cryptocurrency, it’s an entire blockchain ecosystem available for anyone who wants to build decentralised apps or launch their own tokens.
Ethereum is a decentralized computer network where different nodes (computers or servers) are able to run programs on their computers. These programs are run by a network of computers, not just one computer. This makes Ethereum more powerful than Bitcoin.
Why Buy Ethereum?
Ethereum is the world’s second largest cryptocurrency by market cap. Many experts say that Ethereum is a better bet than Bitcoin.
Some even say that Ethereum will overtake Bitcoin in the near future – although this is hotly debated. Ethereum is a decentralized software platform that can be used to build decentralized apps (Dapps). This means that developers can build apps that do not rely on a single computer to operate. These apps can be programmed to run on a decentralized network of computers.
Ethereum has a digital token called Ether. It can be used to run Dapps and can also be used as a payment token. Ethereum can also be used to create digital tokens. Anyone with a bit of programming knowledge can launch their own token on Ethereum’s network.
Which cryptocurrency exchange should you use to buy Ethereum?
To start off, you will need to open a cryptocurrency exchange account. You can do this by signing up for a trading account with HiveEx.
HiveEx is a cryptocurrency exchange based in Hong Kong. It supports trading in digital assets like Bitcoin, Ethereum, and Litecoin. You can open a trading account with HiveEx by ticking the ‘Trader’ box when signing up. This will enable you to deposit and withdraw higher amounts as well as trade on the platform.
Most cryptocurrency exchanges let you buy Ethereum with either US dollars or Hong Kong dollars. Always use your local currency when buying cryptocurrency. It’s a bad idea to exchange U.S. dollars or Hong Kong dollars for Ethereum.
HiveEx is one of the most popular cryptocurrency exchanges in the world. It’s also one of the most secure exchanges. According to Cryptocurrency Insights, HiveEx has strong security measures, advanced trading tools, and offers 24/7 customer support. It’s also audited by Price Waterhouse Coopers.
Other options are as follow:
Hong Kong Exchange
Tidebit
Tidebit is a well-established exchange in Hong Kong. You can deposit with cash or by wire transfer. Withdrawals in Bitcoin are subject to significant fees.
iBTC
iBTC is a Hong Kong exchange with low fees and small trading sizes.
They are affiliated with the BTC shops listed below.
OTC Exchanges
For larger amounts, you may want to head over to OTC exchanges or brokers. A broker will give you a fast quote on a one-off transaction, typically upwards of 10 BTC. You will be able to sell or buy bitcoins with wire transfers.
Genesis Block
Genesis Block Launched in September 2017, the Genesis Block serves as a hub for over-the-counter trading and also an event space.
Q9 Capital
Q9 Capital is a digital assets division of the Henyep Group. It provides live, OTC, executed prices on a 24-hour basis.
CoinUnited
The OTC desk at CoinUnited operates a convenient location in Causeway Bay for OTC trading, as well as its ATMs throughout the city. One Satoshi offers fast and easy ETH and BTC settles straight into your wallet for either cash or octopus. Minimum exchange is HKS1000, personal details are collected beyond HKS80,000.
Things to note when buying Ethereum
- Coinbase does not allow you to trade Ethereum for cash. You can only withdraw your Ethereum to another Ethereum wallet.
- Some cryptocurrency exchanges will let you buy Ethereum with your credit card. However, many exchange companies have a policy of not supporting credit card transactions.
- Always take a look at the Ethereum price before you decide how many you want to buy. These cryptocurrency exchanges can charge you a fee of 0.25% to 0.50% per transaction. This is in addition to the Ethereum price.
- Cryptocurrency exchanges can also be hacked. This is why you should always use a secure wallet like MyEtherWallet when storing and trading your Ethereum.
- Ethereum is traded in the form of ‘Ether tokens’. Ether tokens are not the same as Ethereum tokens.
Wrapping up: Should you buy Ether (Ethereum)?
Ethereum is the second largest cryptocurrency by market cap. It’s also one of the most exciting investments in the crypto world right now. There are lots of reasons why you should buy Ethereum. It has a strong team of developers, a strong community of users, and is a highly scalable blockchain network.
Ethereum has a digital token called Ether. This can be used to run Dapps, or be used as a payment token. You can also use Ethereum to create your own digital tokens. If you’re thinking of buying Ethereum, now is the time. Ethereum’s price has been going up for a long time, and it shows no signs of slowing down.
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