Investing in cryptocurrency is similar to exchanging your money in a new country you’ll probably have to find an exchange that handles both currencies.
Many websites do this this article will explain how to use MyEtherWallet, which is based in the United States.
Open an account
To set up an account, click this link or go to this website.
Create a new account and choose Ethereum as your cryptocurrency. This will open a wallet on your computer.
Go to the wallet to review your balances, which will show you how much money you’ve deposited.
Note: If you don’t get any coins or tokens, that’s probably because you haven’t downloaded the wallet yet. In this case, just follow these instructions to install the wallet.
Buy and sell
The wallet’s function is to store your money for you. But as with exchanging your money, it can also make trading cryptocurrencies easier and more efficient.
The process involves an order book, which lists all the available cryptocurrency marketplaces for you to trade on. You will be able to buy and sell cryptocurrencies and also to buy and sell any Ethereum-based token.
The exchange is operated by a third-party called Changelly. Changelly works with the Ethereum blockchain, the protocol that runs the Ethereum virtual machine (EVM). When you send Ether to Changelly, the company processes it. It will then convert it into dollars or other currencies on your behalf. The service, available in English, Portuguese, and German, is currently available in the United States, Australia, the United Kingdom, France, Singapore, and the Netherlands.
Tether A digital currency
Tether, launched by a team of Bitcoin Core developers and other enthusiasts, is a digital currency that can be used in a few ways: as a store of value, a transaction medium and as a settlement asset, in order to use this currency you’ll basically have to learn how to buy bitcoin first. To understand the importance of the Tether transaction medium, see “Who’s Tether.” Tether provides a medium through which a consumer can store value on the Bitcoin network. Since each transfer of Tethers are not tied to a specific Bitcoin account, a consumer can move or store funds on Tether without having to own or control the Bitcoin network account. To create Tethers, a user must first create a Bitcoin account. To send an existing Bitcoin transaction, a user must create a new Tether transaction by making a transfer to an existing Tether account. For a total of 50 million Tethers (10 billion Tethers plus 10 billion Tethers in circulation at any one time), Bitcoin addresses must be created by sending the amount of bitcoins to the address, and the Tethers will be issued and tracked by the Bitcoin network. Users can then transfer these Tethers to other users through their Tether account. Tether is a “settlement” currency that represents an interest in Tethers. The value of a Tether is based on the value of bitcoin, and the value of bitcoins is based on the value of Tethers.
In the event that bitcoin and/or bitcoin substitutes (e.g., Ethereum) go to the greatest extent possible, Tether’s value as measured by bitcoin and/or bitcoin substitutes would decline, and its price would be less than the USDTethers are denominated in. If these alternative cryptocurrencies are more valuable than Tethers, its price will increase.