Why I Buy ETH Now At Coinbase Instead of BTC
Ever since I stumbled across Steem I have allocated a small weekly amount to invest in crypto. I have engaged in some light trading, but mostly I am messing around with the coins for fun and a diversified investment. Nobody should follow any trading I do and I can't and will not give trading advice. I will explain my end-user experience as a mainstream, corporate type thinker as I learn about this strange and beautiful world of Crypto. However, I digress.
Why I Buy ETH Now At Coinbase Instead of BTC
I no longer use Bitcoin as my entry point into Crypto because it is slow. I now use ETH and the reason is simple. Speed. I get my ETH into my Poloniex Wallet within a couple of minutes. Bitcoin can take an hour.
Guess what else is fast? STEEM
Hmmm. So you can buy Etherium directly? Tell us about that!
You setup an account at coinbase and when you make a purchase, you select... ETH or Bitcoin. Simple as that. You can even setup a set amount to invest, daily or weekly.
www.coinbase.com
Interesting, I'd like to begin purchasing Crypto.
It took me about a month to get my Coinbase set up. It is now automatic, a buy a set amount weekly. It is fairly easy to set up and you don't have to be a Cyrpto Geek to get it working.
I was actually thinking of this same approach. Watching bitcoin lose 10% in value also spooked me a bit.
Agreed, that was a factor for me also.
Mostly though, I just hate not knowing where my money is.. 90 minutes once with btc.
Interesting, are you holding ETH as an investment or is it just a stepping stone to buy Steem on Poloniex?
A little of both. Eventually, it will all end up in Steem, but I am taking advantage of the fact ETH is "Hot" right now. It is fun to play with as a trading coin, because it is volitile.
On Poloniex, ETH also trades directly with STEEM. So, no extra transfer fees.
What goes up, goes down. Careful with eth now. Buy steem. Its cheap
I am using Eth as the entry way. Can't buy steem with debit cards... yet.
I have a Mist wallet. Shapeshifting Ether to other cryptos (except BTC) is a snap, you can avoid the entire BCU/BCC drama if you have wallets. I have shapeshifted to Dash and REP so far, no problems.
I have to admit, I am a noob and I do not know what shapeshifting means.
Shapeshift.io is a service that allows you to exchange one listed altcoin for another without having to change to BTC. You can trade from ETH/ETC, Dash/ETH, wherever you have altcoin addresess via a secure browser with no registration. Reasonable fees.
Cool! Thank you for sharing. I will have to check it out.
I've made the switch to Ethereum purchases from Coinbase too. Once I have the ETH I can quickly spread it out over a variety of coins, or switch it to Tether or SBD if I want to maintain it's USD value.
Speed is becoming an important factor. BTC is just not good enough.
Exactly how I feel @seablue. I don't think people will continue to use Bitcoin as they see and embrace other coins.
My only question is when Coinbase plans on adding vault features for Ether like they have for BTC. I keep most of my Ether in other wallets. They need to allow Ether vaulting.
That would be great.
Just last week, New York State changed the regulations allowing coinbase to trade ETH. Should be great for ETH prices.
Interesting, Do you have a link for that?
https://www.ethnews.com/new-york-coinbase-users-can-now-trade-ether