Talking about cryptocurrencies today is already very common, since they are of daily and universal use. The cryptocurrencies have become means to perform any type of virtual financial transaction through the computer resources that exist for this purpose, and this is due to the security provided by this type of business, even over physical money (Fiat), which is for the exclusive use of the banks that are its issuers.
However, some people are still unclear about this concept or have not been familiar with it and have no confidence or ignorance of the procedures they must follow to convert their fiat money into cryptocurrencies, or they only know the process to buy bitcoins and do not know how to do it with another cryptocurrency. To better understand how this type of business works it is necessary to be clear about what the ethereum technology consists of.
What is ethereum?
In the previous article titled What is the ethereum? Learn more about the operation of this cryptocurrency and we explained some important details, such as, for example, that it is an open and public source, which is based on a computing platform and an operating system that works through intelligent contracts.
The acronym with which the ethereum is normally represented in a transaction is ETH and the financial unit of this technology is the Ether. Similar to other cryptocurrencies, the value of each Ether is provided by a chain of blocks, which represents a list of records that is constantly growing, and are called blocks, which are linked and protected by cryptography.
Conversion from dollars to cryptocurrencies
Actually it is not a conversion itself but a purchase and sale of foreign currency, as is done in any exchange with coins in fiat money, only in this case is not about money and is not a house of exchange physical but a web page to which you agree with a user and a password and make a purchase of the amount of foreign currency you want (ether) and pay as you would normally do with any other product that you pay online.
These types of websites are known as crypto exchanges or simply as exchanges and are specialized pages. When you are going to make a purchase of currency in any of these sites you must ensure that it is safe so that your money is not lost, this is done by verifying the certifications obtained by the site, then we explain some security measures that you must take before Put your money in any Exchange.
Finally, once you have chosen your trusted Exchange (we hope it is Mercury Cash) you simply have to enter the web, place the amount of ethereum you want to buy and there you will see its value in dollars or vice versa, you place the amount of dollars that you want to pay and you will appear to what is equivalent in ethereum. When you are clear about those amounts, you go through the payment process in which you must follow the steps indicated by the platform, add your bank details and finally confirm it.
It is important to clarify that before this you must have a wallet to keep your ethereum, in the previous article titled What is a wallet? Learn how to save your cryptocurrencies we explain in detail how these virtual wallets work in which you can have all the crypto currencies you are going to use.
Make sure the Exchange is safe and reliable
The ether is the second cryptocurrency with the most value after bitcoin, so getting an Exchange where to acquire it is not so difficult, however, it is important that you verify in the policies of the site that they have all the international certifications that endorse them as crypto- exchange, as with Mercury Cash.
Verify site security
This is perhaps easier and is a recommendation that you should take into account for any purchase you make online. The site where you are going to enter the data of your credit card or your bank account must be a site with SSL security certificate, that way you reduce the risks of phishing or hacking your bank data and you guarantee that the money you are really paying will get to the destination where you want to leave.
A very simple way to recognize a secure site is to check at the top of your browser, just in the left corner of the address bar a green pad that says “safe site” and also always start with the acronym https. Is this the only guarantee that you will not fall into a fraud? Of course not since any website can buy an SSL certificate, but it is one more security measure that you should always keep in mind if you want to safeguard your money.
The reputation of the Exchange is also important
The world of social networks and the internet are all. If you have doubts about the company in which you are going to invest your dollars to buy ethereum, the best thing is that you investigate, that you look for the social networks of that company and see how is the relationship with its users, that they always answer the queries, that they facilitate the processes of buying and selling cryptocurrencies and generating trust.
What do you think about this topic? Are you already clear about the process to convert your dollars to ethereum?
If you want more information about buying and selling cryptocurrencies you can register on our platform at the following link.
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