By now, I'm sure you've heard of the hot cryptocurrency Bitcoin, but I'm also sure you've heard of Ethereum. Ethereum, as of writing, is the 2nd largest cryptocurrency by market cap with much room to grow thanks to applications being written on top of it's platform.
There are many ways to purchase Ethereum, but for a newcomer, my personal favorite is Coinbase. Coinbase is based out of San Fransisco, CA and has been around for several years now. Get $10 if you use my referral link to buy Ethereum at Coinbase (you'll need to purchase at least $100 worth of Ethereum). Click here to open your Coinbase account. As of now you can purchase Litecoin and Bitcoin as well, but you're here for Ethereum.
Let's go through the steps on how to buy Ethereum on Coinbase with your bank account. If you follow the following steps, you'll be able to purchase a maximum amount of $2500 once you're all set up (amount may vary depending your bank account).
The first thing you'll want to do is go to Coinbase and click on the sign up link on the top right corner.
You'll have to fill out the standard new account form that is typical of other websites.
They'll be sending you an email to the email address you provide, so don't fake it!
Check your inbox or spam folder and then click on the "Verify Email Address" button in the email. Make sure you're in the same browser you are using to create your account.
After verifying your email address, you'll be taken back to the website and prompted to enter your phone number so you can verify transactions. Do not enter a fake phone number, you'll need it in the next step.
Right after, you'll have to enter a code was texted to your phone number to verify you are the owner of the phone.
You'll be redirected to the home page where you will now have to set up your payment method to purchase Litecoin. Click on the Add a payment method.
You'll be prompted to choose between setting up a Bank Account, using a Credit Card or adding a Wire Transfer account. We'll choose bank account in this walk through.
You'll have the option to select many well known banks where you'll use your online login credentials to have access to your checking or savings account.
Once you've completed the bank selection process, you'll be taken back to the home page, where you can now Buy Ethereum. You'll want to click on the Buy/Sell tab.
You'll be taken to a new page where you'll now see the price of Bitcoin / Ethereum / Litecoin. Bitcoin will be selected by default, select the Ethereum button. Once selected, you'll see how much USD you can purchase, and how much Ethereum you will receive. On the right hand side you will see the number rounded up and details regarding fees and totals. Click on the Buy Ethereum button to proceed to the next step.
You'll be prompted to confirm this transaction in the next steps. All sales are final, so ensure everything is correct. Once you confirm your buy, you'll get a success screen!
Congrats! You have now purchased Ethereum! Click on the dashboard to take you back to the Coinbase main page.
Once you are back on the home dashboard, you'll notice in your "Recent Activity" the Ethereum that will be arriving in your account. Ethereum arrival time varies by bank and account type. I recommend adding a large amount of USD to your account if you'd like to purchase other coins in the future. You typically need Bitcoin or Ethereum to purchase other coins on exchanges and getting the coins instantly with USD (rather then waiting for the ACH to clear) is better for quick purchases.