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Ways to invest in Ethereum Classic
For a simple way to get Ethereum Classic, you can sign up with a cryptocurrency exchange and trade directly there. Often an exchange is the best place to go to get your hands on some coins straight away.
If you’d rather go a different route, you can use an app, sign up with a broker platform, or try out a number of different options that we explain in more detail below. The links underneath here direct you to individual pages which show how to navigate the process.
What is Ethereum Classic?
Ethereum Classic (ETC) is a cryptocurrency that was created out of a split with the original Ethereum blockchain in 2016. Essentially, after a hacker broke into a project built on the network, the Ethereum developers modified their code to fix the flaw and in the process split the coin in two. Ethereum Classic is the unmodified version – managed by users who believed the blockchain is ‘immutable’ and can never be changed.
How to invest in Ethereum Classic
You can invest in cryptocurrency in a variety of different ways. The list below covers all the options you might want to try, and it’s a good idea to read through and see which one best suits your style.
- Broker platforms. A crypto broker lets you invest in coins by trading options, futures, or contracts for difference. These are all essentially ways of predicting price movements, as opposed to owning the coin outright.
- Crypto exchanges. Buying coins on an exchange is the best way to own them directly. Then you can choose to quickly swap them in response to price changes, or transfer them to a wallet to hold for a while in the hope they increase in value over time. Look for a secure, reputable exchange that lets you trade a wide variety of cryptocurrencies for the best experience.
- Investment trusts. An investment trust is a closed-end investment strategy that’s available to UK investors. A trust might own lots of different assets, such as stocks, bonds, and crypto, and it can be a good way of creating a balanced portfolio without having to micromanage it yourself.
- Debit cards. A crypto debit card lets you purchase goods and services online with your coins. These are becoming more widely used and accepted, although you might find you’re only able to spend the biggest coins – like Bitcoin or Ethereum – at the moment.
- Mobile Apps. Manage your coins on the go with a crypto app. As the market has grown, more apps have sprung up to offer all the financial management services you’d expect from a regular currency. Now you can buy, sell, and trade Ethereum Classic right from your mobile device.
- Cryptocurrency wallets. A wallet is the best place to store your coins. They keep them secure behind a private key that’s unique to you, and many platforms now offer extra services like buying and selling from within the wallet to make them even easier to use.