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How To Buy Ethereum Classic (ETC)

A complete guide on how to Buy Ethereum Classic (ETC) on different exchanges and brokers. Also Learn how to buy Ethereum Classic (ETC) using different methods like credit cards, debit cards, and ATMs.

Author: Usman Ahmed Last updated: 20/10/2021

Introduction

Investment in cryptocurrencies has been a hot topic in recent months. Endorsement tweets of the Tesla Billionaire – Elon Musk seem to have fueled the crypto hype even more. While professional investors speculate on the growing prices of digital assets, new crypto enthusiasts seem excited to try their fate by staking some money in the crypto world. If you are one of them, here is a detailed guide to help you know how to invest in one of the most popular cryptocurrencies – Ethereum Classic.

Top six platforms where you can buy Ethereum Classic

  • Min Deposit: $200
  • Number of Coins: 20+
  • Supports Multiple Languages
  • Regulated by FCA, ASIC & CySEC
  • Paypal, Debit & Credit Card Accepted
BankCard CashGiro PayMastercardNetellerPayPalSkrillUnionPayVisaWire CardYandex
Visit eToro

Capital At Risk

  • Min Deposit: 20 $£€
  • Number of Coins: 12+
  • Regulated by FCA & CySEC
  • Place Buy & Sell CFDs Orders
  • Low Minimum Deposit
MastercardNetellerPayPalSkrillUnionPayVisaWire Card
Visit Capital.com

78.77% of retail cfd accounts lose money

  • Min Deposit: 1 $£€
  • Number of Coins: 50+
  • Regulated by SEC, & FinCEN
  • Place Buy & Sell CFDs Orders
  • Low Minimum Deposit
Giro PayMastercardNetellerSkrillUnionPayVisaYandex
Visit Coinbase

Capital At Risk

  • Min Deposit: 1 $£€
  • Number of Coins: 1500+
  • High Number of Coins
  • Accepts Fiat Deposits
  • Trade on Spot and Futures
Card CashMastercardSkrillWire Card
Visit Binance

Capital At Risk

  • Min Deposit: 50 $£€
  • Number of Coins: 9+
  • Free deposits / withdrawals
  • High limits for buying bitcoins with a credit/debit card
  • Service available in many countries
NetellerSkrillUnionPay
Visit Coinmama

Capital At Risk

  • Min Deposit: 1 $£€
  • Number of Coins: 50+
  • Highly transparent exchange
  • Competitive Bitcoin trading fees
  • Highly secure
Card CashGiro PayMastercardUnionPayVisa
Visit Kraken

Capital At Risk

A Three-step Guide to Buying Ethereum Classic (ETC)

Step 1: Open an account with an exchange

Before you can start buying Ethereum Classic, you need to sign up with an exchange. There are several exchanges where you can buy the Ethereum Classic. However, we’ll enlist the best ones only.

Not to mention, opening an account with a regulated exchange may be the better option to consider. You also need to fulfill the KYC parameters during the registration process. Generally, signing up for an account doesn’t take more than a few minutes with most exchanges.

Step 2: Deposit funds in your account

Deposit funds in your account to buy Ethereum Classic. Usually, exchanges offer multiple payment options, including debit/credit cards, e-wallets (Skrill, Neteller, Paypal), bank transfers, Webmoney, Wire transfers, etc. However, depending upon your jurisdiction, the available options may vary.

Step 3: Buy Ethereum Classic (ETC) with or without leverage.

Once you have funds in your account, you can buy Ethereum Classic through a preferred method. There are two methods to buy Ethereum Classic: actual coins acquisition or buying a CFD contract. When you buy the crypto asset without leverage, you own the coins. However, the leverage enables clients to speculate on the prices of underlying assets to make profits. In this piece, we enlist the best exchanges that allow traders to buy actual tokens of Ethereum Classic. Not to mention, we’ll also share those exchanges where you can buy your favorite crypto using leverage.

What is Ethereum Classic (ETC)?

Ethereum Classic is a blockchain-based decentralized platform that features smart contract execution. The platform runs applications without exposing them to operational limitations, such as downtime, third-party interruption, or censorship. It is a distributed network that consists of a native crypto coin (ETC), a blockchain ledger, and an ecosystem of on-chain services and applications.

Ethereum Classic facilitates users to access smart contracts without having to worry about centralized governance. In other terms, the execution of smart contracts is free from third-party intervention. The basic functionality of smart contracts is similar to if and then statements programs. That means if a specific requirement as mentioned in a smart contract is fulfilled, then the responding actions or parameters of the smart contracts are considered completed. Similarly, suppose anything doesn’t meet the specific requirement specified in the smart contracts. In that case, a penalty may be imposed, or the contract is deemed canceled or nullified.

Suppose a real-estate contract contains an obligation of upfront payment on a specific date. This means the execution of the contract takes place if funds are received on the due date. However, the contract becomes null and void if the payment is still pending. Smart contracts are kept in a decentralized way within the blockchain or distributed ledgers across multiple locations. All the terms and conditions whereby both seller and buyer agree are embedded into a smart contract using codes. Since smart contracts are self-executed, there is no need for external monitoring or censorship.

A brief background

Initially, the Ethereum network was launched as a single network. ETH was the native currency of the platform for carrying out blockchain-based transactions. However, the blockchain was hacked in 2016, resulting in a loss of nearly $50 million worth of digital assets. At that time, inventors performed a hard-fork to secure the network. The split gave rise to a newer version of the coin called Ethereum. Not to mention, the hard fork aimed to return the stolen tokens to the owners. For this purpose, the record that was being maintained before the incident was used. The community that shifted to the newer version of Ethereum uses ETH as its native currency. At the same time, the ETC became the native coin of the older blockchain.

Ethereum Concerns

Both Ethereum Classic (ETC) and Ethereum (ETH) share the same network and execute smart contracts based on blockchain technology. However, the newer Ethereum (ETH) became more popular amongst the masses. One of the prime reasons the Ethereum Classic lost its significance was its scalability concerns. On average, the Ethereum Classic network can handle 15 transactions in a second. However, the numbers are way smaller than other traditional payment networks like VISA. The VISA processes more than one thousand transactions per second. Moreover, the classic version of Ethereum underwent multiple software updates. Still, the scalability concern remains one of the biggest hurdles of all times for the ETC.

Another downside of the Ethereum classic is the security concern. Since Ethereum had already experienced a grand theft that resulted in a loss of millions of dollars, stakeholders might be reluctant to use ETC smart contracts for essential real-estate or financial transactions. The team behind the Ethereum Classic seems to strive hard to make ETC blockchain-based smart contracts the preferred choice of stakeholders once again. Also, the mindset seems to envision making ETC a digital store of value where stakeholders can use and exchange it. In contrast, the value of ETC remains preserved as well. In simple terms, the digital store of value means the purchasing power of the coin that could be converted into cash and used as a medium of exchange to buy other assets just like the money.

How Is Ethereum Classic (ETC) Different From Or Similar To Bitcoins?

While there are many similarities between Ethereum Classic and Bitcoin, they also differ in some cases.

Origin

It’s not a secret that developers had been trying to bring innovation to the current financial system for ages. The central idea behind those endeavors was to launch an independent ecosystem where financial transactions are carried out without any limitation or need for third-party intervention.

However, the risk of double-spending always happened to be the primary barrier. So finally, Satoshi Nakamoto came up with the concept of digital currency (Bitcoin) in 2009. Based on blockchain, Bitcoin finally resolved the risk of being double-spent. Hence, it was the beginning of the revolution to the current financial system.

On the other hand, the Ethereum Classic (ETC) resulted from a hard fork of the Ethereum blockchain in 2016, after the former Ethereum network split into two networks. Thus, Ethereum Classic is the former version of Ethereum known as (ETH) these days.

Rank

Bitcoin is the world’s largest cryptocurrency as per market capitalization. At the same time, the Ethereum Classic falls way behind in ranking and doesn’t even rank in the first 15 crypto assets.

Protocols

Bitcoin and Ethereum Classic operate on different protocols. The process of how both cryptocurrencies work is not similar either. That means if a transaction is allowed on one network, it might not be carried out on the other network.

Ethereum Classic (ETC) Historical Price Performance

Ever since the Ethereum Classic and Ethereum were set apart, the crypto remained exposed to frequent ups and downs. The volatility of the Ethereum Classic proved that it has the potential to generate stakeholders excessive profits over time. The crypto touched its all-time high almost three years ago, after reaching the value of $44.34 on January 14, 2018. However, soon it started declining and ultimately reached $3.74 on December 11, 2018, within just a year.

Unlike other cryptocurrencies, such as Cardano or Chainklink, the growth in the value of the Ethereum Classic did not seem significant until it underwent a massive comeback from the start of this year. The crypto printed its long-awaited higher high on February 19, 2021, with a reading of 15.38. Since then, crypto continued its upward journey and marked its second-highest on April 16, 2021. The crypto was being traded at around $38.54 at that time. However, the coin started skyrocketing from May 2021 and reached its all-time high on May 06, 2021, with a reading of $176.16.

Ethereum Classic couldn’t sustain its growth for long and soon started plummeting back. As of this writing, the coin is being traded around $73.86, having a 24-hour trading volume of $9,762,505,455. Ethereum classic ranks 18th largest crypto coin with a market capitalization worth $8,590,894,349. While nearly 116,313,299 ETC is circulating right now, the supply of total ETC equals 210,700,000 ETC. Thus, economists seem optimistic concerning the prospect of the Ethereum Classic.

What Factors Influence Ethereum Classic (ETC) Price?

Various factors can influence the price of Ethereum, including the ones listed below.

Factor # 1: Ethereum Classic adoption

One of the critical factors that can drive the price of Ethereum is the poor adoption of Ethereum Classic by the network community. Most developers prefer Ethereum’s network to build ICOs instead of Ethereum Classic. Also, countless DeFi projects having a vested interest of nearly $14 Billion U.S. Dollars have been built on Ethereum’s network. At least the majority that works on DeFi Pulse have Ethereum’s network behind their development. Some popular platforms include Maker, Yearn Finance, WBTC, Compound, Aave, etc.

Since developers rely more on Ethereum’s network to build their applications and DeFi projects are based on Ethereum’s network, Ethereum Classic (ETC) remains in the blue shadows. Hence, it could be difficult for the Ethereum Classic (ETC) price to increase significantly.

Factor # 2: Network attacks

Ethereum Classic has also been exposed to 51% of attacks since the crypto coin was launched. Therefore, the overall reputation of the crypto remains the point of concern for many crypto investors out there. In other terms, a 51% attack implies that an intruder can control 51% or even more of crypto coins to create longer blockchains or double-spending.

It is worth mentioning here that a famous crypto exchange Coinbase did restrict users from trading Ethereum Classic on January 5, 2019, after getting to know that ETC has experienced a hack attempt.

In August 2020, Ethereum Classic experienced three attacks within 30 days. That raised many reservations concerning the security of the crypto coin amongst investors. Some crypto exchanges, such as OKex, and FTX couldn’t resist reacting and ceased ETC trading for their users. FTX even passed an official statement that they might need to reconsider their offering amid perpetual futures contracts of ETC.

ETC Cooperative

the foundation responsible for supporting the development of the network said in its tweet that the company is working with concerns to test and develop solutions to end these unwanted attacks.

As per the report released by Coingeek in October 2020, Ethereum Classic has started taking safety measures and implements an attack defense system. The network introduced the Modified Exponential Subjective Scoring (MESS) system to seek protection against 51% attacks. A month later, Ethereum Classic came up with Thanos’s new hard fork launch. The prime objective of Thanos is to improve the security of the network and appraise cooperation between the crypto miners.

How to Invest in Ethereum Classic (ETC)

Owing to the recent surge in prices of Ethereum Classic, adding it to your portfolio can be a viable investment decision. Moreover, there are different ways that you can invest in Ethereum Classic (ETC). A few of them are listed below.

 

Ethereum Classic (ETC) Buy and Hold (Long-term)

Like the stock market, the buy-and-hold strategy also works for crypto trading. Traders find it profitable to speculate on the price of digital currencies due to the volatility element. You can also buy some ETC tokens and hold them in your crypto wallet, anticipating an increase in their value.

Ethereum Classic (ETC) CFD trading

Another popular method to invest in Ethereum Classic is to open a CFD contract. You don’t even have to buy the actual coins. Instead, you can make profits by just speculating on the price of Ethereum Classic. All our listed platforms allow CFD trading. Therefore, finding the best one is not an issue either. Since CFDs are leveraged products, the margin to profit is way higher than buying actual coins.

Ethereum Classic (ETC) day trading

Lastly, you can also consider day trading with Ethereum Classic. Day trading involves the opening and closing of positions within a single day. Although day trading can help you make lucrative earnings, it is equally riskier for novice traders. Learning how to trade the market successfully might need you to spend a lot of time before you can start making profits. However, there is an option of hiring a professional funds manager or opting into copy trading services.

How To Buy Ethereum Classic (ETC)

Given below are different methods to buy Ethereum Classic. You may consider the one that suits you the best.

How to Buy Ethereum Classic (ETC) With Credit/Debit Card:

Payment through debit and credit cards to buy Ethereum Classic is likely to be available with almost all exchanges that offer the coin. Indeed, it is one of the most convenient and fastest methods to purchase cryptos.

eToro also accepts debit/credit card payments from traders residing in most countries around the world. After depositing funds in your account, you can decide whether to buy actual coins or open a CFD position that will suit you better. Luckily, eToro being the world’s most renowned trading platform, allows you to go either way.

The platform doesn’t charge any fee on debit/credit card deposits. Therefore, traders may only need to pay the spread while buying Ethereum Classic. However, if the transaction involves currencies other than the base currency of your account i-e USD, conversion charges may also apply. Not to mention, funds deposited using debit/credit cards reflect in your eToro trading account instantly.

How to Buy Ethereum Classic (ETC) With Paypal

PayPal is yet another convenient option to buy Ethereum Classic from eToro. It might be the second popular method accepted on most exchanges and brokers worldwide. However, the list of countries PayPal doesn’t support can be a point of concern. Therefore, you need to check the eToro website to confirm if it allows you to pay via PayPal.

Traders can fund their accounts using four fiat currencies, including USD, EUR, AUD, and GBP. Not to mention, each payment method comes with a maximum deposit limit at eToro. In case you deposit funds in your eToro account using PayPal, the limit is $10,000. To make a payment via PayPal, you must have a funded PayPal account. However, you can also use PayPal if you have already linked a credit or debit account with it. Just like debit or credit card payments, funds deposited via PayPal are instantaneous.

As soon as you’ve completed the transaction successfully, your eToro account balance will be updated on a there and then basis. eToro doesn’t charge any additional fee on funds deposits via PayPal except the spread charge. However, conversion charges on transactions done in currencies other than the U.S. Dollar are the exception.

How to Buy Ethereum Classic (ETC) With E-Wallets (Skrill, Neteller)

Traders can also buy Ethereum Classic using other e-wallets, including Neteller and Skrill. Provided that the country of your residence doesn’t fall in the list of restricted countries to use Skrill or Neteller, you can fund your eToro account up to a maximum limit of $10,000. Besides being fast enough, both Skrill and Neteller are cost-effective when buying Ethereum Classic on eToro. There is no cost involved other than the spread cost.

Please note that you must have an account with either of the platforms before using them to fund your account on eToro. Traders can only deposit funds in USD, GBP, and EUR via Skrill or Neteller. Clients can withdraw funds using the same methods.

How to Buy Ethereum Classic (ETC) With Bank Wire

Traders can also fund their eToro account via wire transfers to buy Ethereum Classic. However, some clients don’t prefer this method despite it being safe. One of the possible reasons is the lead time needed for wire transfers to complete successfully.

At eToro, funds deposited via wire transfers might take between 4-7 business days to reflect in your account. Supported currencies via wire transfers at eToro include AUD, GBP, and USD. To avoid any extra charges, make sure to transact the amount in USD. The best part with wire transfers is that you can deposit as much amount as you wish.

How to Buy Ethereum Classic (ETC) Anonymously (Without ID Verification):

Last but not least, traders also have the option to buy Ethereum Classic without having their identity revealed. To do so, clients can use their eToro unverified account. Although you can’t keep your account unverified for quite long, eToro allows you a 15 days’ time frame to submit supporting documents to prove your identity.

While the exchange does not close your account during the lead time, you can buy Ethereum Classic tokens for a value of $2250. That’s the maximum limit a trader can use to buy crypto coins with an unverified account at eToro. Please note that due to strict regulatory restrictions, traders need to complete the KYC process to keep using their accounts. Failing to do so will result in the closure of your eToro account, and any funds deposited will be returned via the same method you used to fund your account.

What Are The Pros And Cons Of Buying Ethereum Classic (ETC)?

Pros

Cons

What Do You Need Before You Can Start Buying Ethereum Classic (ETC)?

Before getting started with the ETC purchase, you need to ensure that you have fulfilled all the prerequisites, including an account, minimum investment, and a supported crypto wallet.

1) Live account

The first thing you must do to start buying Ethereum Classic is opening an account. Therefore, create an account with a crypto exchange that offers Ethereum Classic. Other factors might also need to be considered, such as available account types and relevant trading fees.

2) Minimum deposit

You also need to make sure that you have sufficient funds available to open a live trading account with an exchange of your choice. Usually, most crypto exchanges do not ask for more than a $500 initial investment. A CFD trading account can even come with a lower deposit amount.

3) Ethereum Classic Wallet

Once you are done purchasing Ethereum Classic tokens, you need to keep them secure. Crypto wallets are the best place to store your crypto assets safely. You only need to choose between a hot or cold storage option.

How Much Do You Need To Start Buying Ethereum Classic (ETC)?

The minimum amount you need to spend to buy Ethereum Classic is its current market value. For example, as of this writing, the Ethereum Classic is being traded around $75.67. Hence, you need to have at least $76 to buy 1 ETC token.

Several other costs could also be significant when deciding how much ETC you should buy, including transaction fees, deposit charges, conversion fees, etc. Also, check if your exchange allows you to HODL your cryptos for free. Else, storing your coins in a customized digital wallet might be a better option.

Where Can You Buy Ethereum Classic (ETC) Today?

After fulfilling all the prerequisites, buying Ethereum Classic won’t be an issue. As mentioned above, many crypto exchanges offer Ethereum Classic tokens these days. However, you first need to decide whether you wish to buy actual coins or opening a CFD position appeals to you more.

Depending upon your choice, you can either buy Ethereum Classic (ETC) via Brokers or Exchanges.

Exchanges like Binance, Coinmama, etc., allow traders to buy actual coins of Ethereum Classic. However, brokers such as Capital.com only offer CFD trading. Therefore, you can’t buy actual coins from most of the brokers available around. However, some brokers, such as eToro, offer both of the options. So traders can either open a CFD position with eToro or buy actual coins of ETC.

What to Look for in an Ethereum Classic (ETC) Trading platform?

Listed below are some factors that you must consider before opening an account with a broker or exchange.

Regulation

This is a significant element that needs to be checked before signing up with a broker or exchange. Regulation makes entities remain transparent and uphold the best ethical practices. Consequently, besides fair pricing, traders can also rest assured of the safety of their investment.

Transaction fees

The cost of transactions can also be a significant factor when buying actual crypto coins. Do not forget to review all relevant costs and charges, such as conversion charges, deposit fees, inactivity fines, holding fees, etc.

Supported payment methods

Usually, brokers or exchanges offer multiple payment methods. Still, it is pertinent to check the available methods before signing up on any platform. Also, check the associated cost of each deposit method. It should not be excessively high.

Reputation

It is unlikely for a platform to have a good reputation despite offering a poor trading experience. Therefore, do not forget to confirm the reputation of your prospective broker before signing up with it. In addition to checking a broker’s credibility score with third-party reviewers’ websites (Trust Pilot), you can read feedback of existing or former customers of the concerned broker on platforms such as Reddit and Quora.

Since almost every other exchange offers Ethereum Classic these days, therefore, you have a lot of options available. However, after scrutinizing dozens of options, we’ve handpicked top-of-the-line crypto exchanges best for buying Ethereum Classic.

1. eToro – Best for Social Trading

Number of Coins: 20+
Margin Trading: YES
Minimum Deposit: $200
Visit eToro

Capital At Risk

eToro is the leading online platform that offers trading services across multiple financial instruments, including forex and CFDs. The company started its operations in 2007 and is best known for its social trading services. The platform enables clients to copy trades of other professional traders and start making money seamlessly. Besides actual coins, the company also offers CFD contracts.

Depending upon a client’s jurisdiction, traders can go for either of the options. However, trading crypto CFDs might not be allowed in some countries, including in the U.K., due to regulatory restrictions. To make things convenient, the company offers a quick signup process with multiple payment options. Therefore, once you have signed up with the exchange and have deposited your funds, you are good to start buying your favorite crypto, i-e, Ethereum Classic, instantly. Not to mention, traders need to complete the KYC process before they could begin buying cryptos.

eToro also offers a demo account to help novice traders explore the trading platform and learn different trading skills without compromising real funds. The company holds regulations from multiple reputable regulatory authorities, such as CySEC, ASIC, and FCA, in various jurisdictions worldwide, including Cyprus, Australia, and the U.K.

Pros and Cons of Buying Ethereum Classic (ETC) on eToro

Pros

Cons

Step By Step Process Of Buying Ethereum Classic (ETC) On Etoro

  1. Click the join now button available on the top right corner of the company’s website to begin registration.
  2. Enter your details as required on the registration page and click continue to proceed to the next page.
  3. Verify your identity to complete the KYC process.
  4. Navigate to the deposits page, select your preferred payment method from the drop-down list available under the deposit funds button, such as debit/credit card, Skrill, Neteller, PayPal, or wire transfers. Enter the amount you plan to deposit.
  5. Access the Trade Markets tab, click on the crypto icon, and scroll down to find Ethereum Classic.
  6. Authenticate transaction details and press the buy button to finish the purchase. As soon as you are done with payments, you can see your coins being reflected in your account instantly.

Note: eToro allows traders to transfer non-leveraged coins between the eToro trading account and eToro wallet.

2. Capital.com – Best for CFD Trading

Number of Coins: 12+
Margin Trading: YES
Minimum Deposit: 20 $£€
Visit Capital.com

78.77% of retail cfd accounts lose money

In our list of best online trading platforms to buy Ethereum Classic, Capital.com secures the second position. However, you might only be able to buy a CFD contract for Ethereum Classic (ETC) since the company does not offer actual coins. Fortunately, signing up with the broker is fast and straightforward. While the brokerage provides an easy-to-use intuitive trading interface, clients can customize trading preferences as per their convenience.

Capital.com also offers detailed insights for Ethereum Classic and other digital assets. Besides keeping trading costs quite competitive, the broker doesn’t charge clients any fee on deposits or withdrawals. Depending upon the availability of funds, clients can choose between different CFD accounts. The minimum amount to open a CFD account with the broker starts at $3000. At the same time, traders can deposit a maximum of $10,000 in a CFD account.

The broker offers a leverage of 1:2 for trading available cryptocurrencies. Clients can, however, use a margin of up to 1:30 for trading fiat currency pairs. Since the brokers hold regulations from both CySEC and FCA, clients can rest assured concerning the safety of their funds. Multiple payment options, availability of unlimited demo accounts, and round-the-clock customer support make the broker a preferable choice to trade Ethereum Classic.

Pros And Cons Of Buying Ethereum Classic (ETC) On Capital.Com

Pros

Cons

Step By Step Process For Buying Ethereum Classic (ETC) On Capital.Com

  1. Click on the trade now button on the homepage of the broker’s website to sign up.
  2. Enter your email I.D., and choose a password to keep continue
  3. After signing into your account, access the dashboard and click on deposit. Select your preferred payment method from the options available. For quick transfers, it is best to use a debit or credit card. However, you can also use other options, including bank transfers and e-wallets. Depending upon your selected method, the time needed to reflect deposits in your account can vary between 1 to 3 business days.
  4. Use the search bar to find the available pairs for trading Ethereum Classic.
  5. Select the pair from the listed options and enter the amount you wish to trade. Click the buy button to complete the transaction.

3. Coinbase – Best for Beginners

Number of Coins: 50+
Margin Trading: No
Minimum Deposit: 1 $£€
Visit Coinbase

Capital At Risk

Coinbase is one of the leading crypto exchanges available around. The company is based in the United States. Coinbase started its operations in 2012 and gradually evolved to become the preferred choice of all classes of traders. While intuitive trading platforms and a friendly user interface make it well suited for beginners, the Coinbase Pro trading platform fits best the trading needs of advanced-level traders.

Besides offering Ethereum Classic, the company provides a rich portfolio of financial instruments. In addition, the company’s trading cost is quite competitive. The exchange also offers a customized utility token USDC, commonly known as the USD Coin or Stable coin. Additional services of the company include Custodial wallet services, Coinbase index, and Coinbase Ventures, etc.


Moreover, the company’s multiple payment channels make it very convenient for clients to get started. Besides offering quick deposit services, the exchange is fast enough to release funds. Signing up with the exchange is simple and doesn’t take more than a couple of minutes. Not to mention, the company charges a transaction fee between 1.49% to 3.99%, depending upon your selected payment method.

Pros And Cons Of Buying Ethereum Classic (ETC) On Coinbase

Pros

Cons

Step By Step Process Of Buying Ethereum Classic (ETC) On Coinbase

  1. Click on the signup button available on the top right corner of the official webpage of Coinbase.
  2. Enter your details on the registration page as required, check the terms and conditions box and click on create an account.
  3. Access your dashboard using your login credentials received via registered email.
  4. Click on the portfolio tab on the navigation panel and tap on the deposit funds button. Select your preferred payment method.
  5. Select Ethereum Classic from the watchlist, and indicate the amount you wish to buy, and authenticate your payment details to complete the transaction. Ethereum Classic tokens will reflect in your account instantly.

Note: Clients need to complete the KYC process before the company can allow them to fund their accounts. 

4. Binance – Best for Low Fees

Number of Coins: 1500+
Margin Trading: YES
Minimum Deposit: 1 $£€
Visit Binance

Capital At Risk

Binance is one of the world’s largest cryptocurrency exchanges founded in 2017. The company is known for its low trading costs. Traders seeking cost-effective trading solutions might find it the best platform to trade Ethereum Classic and other digital assets.

With an extensive product range of crypto assets, the crypto exchange makes it very convenient for clients to buy their favorite crypto using multiple options. For example, besides buying ETC on the Binance P2P exchange, traders can also use the web terminal or mobile trading app to buy Ethereum Classic. The process of opening an account with Binance is relatively short and quick.

The company does not ask for too much information. After filling in basic details, traders can head straight to the verification of the account. Should you need any support, the company’s customer support stays on their toes to help you right away.

Since the trading cost is relatively low on Binance, the company charges a nominal fee from makers and takers depending upon the level of volume traded over the past 30 days. The best thing about the exchange is that it offers special discounts on purchases made using Binanance native token (BNB).

Pros And Cons Of Buying Ethereum Classic (ETC) On Binance

Pros

Cons

Step By Step Process Of Buying Ethereum Classic (ETC) On Binance

  1. Click on the register button on the exchange’s official website and fill in your details on the registration page.
  2. Sign in to your account, access the dashboard, tap on the buy crypto button, and select your preferred payment method to deposit funds in your account. Available options at the exchange include credit or debit card payments, P2P transfers, or third-party channels, such as Simplex. If you choose to pay via debit or credit card, then make sure that card is in your name. Transactions made via cards, not in your name, might not go through.
  3. Specify the amount of Ethereum Classic that you wish to buy, and then authenticate the transaction details. As soon as the transaction is completed, your account will start reflecting the coins you’ve just purchased.

5. CoinMama – Best for Fast Transactions

Number of Coins: 9+
Margin Trading: No
Minimum Deposit: 50 $£€
Visit Coinmama

Capital At Risk

Founded in 2013, Coinmama is a popular name in the crypto world. The platform is widely known for its super-fast transactions. While traders can instantly purchase Ethereum Classic at Coinmama, the company ensures to keep the signing up process as convenient as possible. Not to mention, multiple payment options even act as a catalyst to further speed up the process.

However, the exchange doesn’t offer a free meal since traders need to pay a deposit fee. For example, payments through credit cards will carry a 5% transaction charge at Coinmama. The source bank charges are yet an exception. However, the exchange does not charge any fee from clients making payments via Bank/SEPA transfers.

On the other side, low minimums make it very convenient for small-scale investors to start trading Ethereum Classic with only $50 available in a trading account. Since the exchange is registered as a Money Services Business with FINTRAC and FinCEN, traders need to complete the KYC process before making high volume purchases. However, traders with tier-one verification might only be able to buy limited tokens.

Pros And Cons Of Buying Ethereum Classic (ETC) On Coinmama

Pros

Cons

Step By Step Process Of Buying Ethereum Classic (ETC) On Coinmama

  1. Open the official website of the exchange and click on the signup button.
  2. Enter your email I.D., choose a password and select the country of your residence.
  3. Access the dashboard and upload the supporting documents to complete the KYC process. You can start trading with level 1 verification that only needs you to upload your I.D. at least.
  4. Access the buy page where you can choose between different predefined packages. Alternatively, traders can use a customization form to set their desired amount of ETC coins.
  5. Tap on the buy button to select the preferred payment method, such as bank transfers, SEPA transfers, payment through credit or debit cards, etc. Authenticate the transaction details to finish your purchase.

Note: Clients based in the United Kingdom can choose to pay via bank transfers for speedy transactions attracting low charges. 

6.  Kraken – Best for Safe Bitcoin Cash (BCH) Storage

Number of Coins: 50+
Margin Trading: YES
Minimum Deposit: 1 $£€
Visit Kraken

Capital At Risk

Last but not least, we have Kraken on number six in the list of our best platforms to buy Ethereum Classic. The exchange has been in the business for over a decade. Focusing on safety concerns, Kraken offers well-secured and regulated space for storing Ethereum Classic coins and other digital assets.

While the trading interface is relatively easy to navigate, multiple payment options make it even more convenient for clients to trade their favorite cryptos. In addition, the exchange offers a full suite of basic and advanced trading tools to complement the trading needs of individual traders.

Besides being best for crypto storage, the company also provides competitive pricing schedules, as shown in the image below.

Pros And Cons Of Buying Ethereum Classic (ETC) On Kraken

Pros

Cons

Step By Step Process Of Buying Ethereum Classic (ETC) On Kraken

  1. Head to the exchange’s official website and click the signup button to begin the registration process.
  2. Enter your details, including username, password, and country of residence, to proceed to the next step.
  3. Access the dashboard and click the funding option. Choose your preferred payment method. Kraken allows traders to deposit funds in their accounts using both fiat and cryptocurrencies.
  4. Click on the buy crypto button and enter the amount of ETC you wish to buy. Authenticate transaction details and tap on the buy button to complete your purchase.

Other Ways of Getting Ethereum Classic (ETC)

We list and explain other ways of acquiring Ethereum Classic:

Gift or tip

Since the value of Ethereum Classic falls within the range of every other investor, it can be a good idea to receive ETC coins as a gift from friends and family. Of course, you can also acquire ETC coins as a tip. It is even more accessible for a content creator to set up a tip jar for accepting ETC coins. Not to mention, in each case, you need to have a digital wallet to store your ETC coins.

Through Ethereum Classic faucets

Thanks to the Ethereum Classic faucet websites that enable traders to have some coins for free. Ethereum Classic website holds tokens from contributors and distributes them to those requesting a share.

Ethereum Classic mining

You can also acquire Ethereum Classic tokens via mining. All you need to do is to follow the simple process listed below.

Step 1: Purchase suitable hardware.

Usually, GPU mining machines work the best for mining Ethereum Classic tokens efficiently. However, you can also look out for other devices known for the profitable mining of Ethereum Classic. Do not use CPU cards since top mining professionals do not recommend them.

Step 2: Create a wallet address

You need to have a wallet address to receive your share and watch your crypto mining progress. Some platforms distribute revenues daily, while others can have different schedules for coin distribution.

Step 3: Get a mining software

You need to obtain mining software to automate the process. NBMiner and GMiner are known to be the top favorite mining software for ETC mining.

Step 4: Software configuration

Once you have the ETC mining software with you, it’s time to configure it now. Again, different tutorials are available online to help you configure the mining software.

How Can You Use Ethereum Classic (ETC)?

After acquiring Ethereum Classic, you can use it in different ways.

Hold as a speculative asset

You can consider holding ETC coins in your wallet, anticipating an increase in the value of your digital assets. However, since many traders prefer ETH over ETC, the sluggish demand for ETC can be a point of concern in the long run.

Trade the altcoin

The most obvious method to use Ethereum Classic coins is to trade them. All our exchanges listed above can be the best option for trading ETC tokens and making profits. However, cryptocurrencies are known to be highly volatile and can result in significant losses. Therefore, it is best to open a demo account and practice enough trading strategies before trying your fate in live market conditions.

Pay for goods and services

Cryptocurrencies are becoming increasingly popular all over the world. After being accepted by technology giants such as Microsoft, Apple, and Samsung, many retail merchants have also started accepting cryptocurrencies as one of the supported payment methods against goods and services. Therefore, you can spend your ETC coins to shop, travel, and entertain around the world.

You can also use ETC coins for donations. What could even be more exciting than helping the ones in need? Many charity organizations accept countless crypto coins these days. You only need to search for the one receiving ETC coins as a donation.

What do Reddit & Quora Users Say About Investing in Ethereum Classic (ETC)?

Quora

While many people seem to be appraising the prospect of the Ethereum Classic, some hold reservations concerning the economic outlook of the digital asset. The Reddit community appears to be divided into two groups; optimistic, while the other has a pessimistic approach towards cryptocurrency. Some consider it to be a legacy coin having no future ahead.

At the same time, others seem confident amid the upcoming development in the Ethereum classic network and the recent spike in ETC price. Not to mention, the community that doesn’t support investment in Ethereum Classic holds a view that even the ongoing or upcoming developments in the ETC network are just a copy of Ethereum, and more than 90% of Defi apps are based on ETH instead of ETC.


Reddit

Just like Quora, Reddit also seems bombarded with discussions about the future of Ethereum Classic. To some Redditors, it’s a worthwhile investment and they expect the coin prices to surge soon. However, the majority of contributors on Reddit are rather neutral. The recent surge in prices has molded their speculative imagination. They are somehow now convinced to suggest investors keep Ethereum Classic as a part of their investment portfolio.

Bottom Line

Since you have multiple options available to buy Ethereum Classic, finding the best one can’t be an issue. All you need is to ensure that the exchange you select to buy ETC is trustworthy. Checking for the factors such as regulations, pricing structure, payment methods, and storage options can help you sign up with the best exchange available around. While compiling the list of our six best platforms to buy Ethereum Classic, we ensure maximum precautions and narrowed down only the legitimate exchanges. We’ve also listed a step-by-step process to help you sign up with any of them and start the beginning of successful endeavors with your ETC purchases.

Frequently Asked Questions (FAQs)

Since the crypto started a bullish momentum recently, the prices surged massively over the past 30 days. However, the coin also started plumping back, generating a lot of concerns about its prospect. Therefore, it is the best idea to buy a small quantity of ETC at times.

No, ETC is still in the game, undoubtedly. Although most traders prefer ETH over ETC, the mindset behind the ETC seems to all be set to bring upgrades and innovations to the current ETC network. Moreover, a recent spike in ETC prices is a shred of clear evidence that the crypto has some life in it.

Well, that’s hard to tell. The Ethereum network has grown stronger as compared to the Ethereum classic. Also, more than 90% of Defi apps work on Ethereum. However, the mindset behind the Ethereum Classic is continuously striving hard to make the Ethereum Classic smart contracts be the preferred choice of traders around the world. With the inception of the Modified Exponential Subjective Scoring (MESS) module, the network has already started proving that clients who seek more protection and reliability would stick to the Ethereum Classic.

Yes, Ethereum Classic is proof of work. However, after the network was attacked thrice a year ago, Alex Tsankov proposed Ethereum Classic to change its PoW algorithm to Keccak-256 for enhanced security.

Yes, it is still profitable to mine Ethereum Classic. However, one should carefully consider the factors involved in Ethereum mining, such as hardware, software, and the cost of mining (electricity and fees).

According to the expert forecast at https://coinpriceforecast.com/, economists anticipate Ethereum Classic to hit $500 by the end of 2021. It will then rally to cross the milestone of $1,000 by the middle of 2024. Given the anticipated price projection, ETC will be worth around $1,783 in 2025.