Do you think that buying, selling and storing cryptocurrencies needs to be easier in order for them to be mass adopted? If so, then you might want to get some Ethos coins. Not only has the project created an all-in-one crypto wallet, they are working on a cryptocurrency exchange and accepting fiat deposits too. In this guide, we’ll show you our favorite way to buy Ethos coin.
- 1 Should You Buy Ethos Coin?
- 2 Ethos Coin Price Prediction
- 3 Where To Buy Ethos Coin – Our Favourite Way
- 4 Opening A Coinbase Account
- 5 What To Do Once Your Coinbase Account Has Been Set Up?
- 6 Create A Wallet To Store Ethos Coins
- 7 Opening A Binance Account
- 8 How To Deposit On Binance With Coinbase?
- 9 How To Buy Ethos Coin With Binance?
- 10 How To Withdraw Ethos Coin From Binance?
- 11 Final Word
Should You Buy Ethos Coin?
The Ethos ICO took place on the 28th of June 2017 and raised just over 14,000 Ethereum. Though it wasn’t the biggest ICO on the planet, the project’s mission of making crypto simpler to invest in resonated with the wider crypto community.
The Ethos coin first hit public exchanges on the 18th of July 2017 and was trading at just $0.068 per coin. It went on to hit an astonishing high of $10.41 on the 7th January 2018. Quite unbelievably, Ethos coin hit their all-time high with no working product to speak of. The cryptocurrency mania of late 2017 and early 2018 created a tide that raised all boats to overextended levels. Ethos coin was also propelled due to popular YouTuber Suppoman revealing to his followers that he had made Ethos coin his biggest investment to date. Sure, we cannot attribute a cryptocurrency’s rise just to a single Youtuber but when you have 150,000 subscribers, it does have an impact.
Right now, Ethos coin is trading at around 48 cents each. That’s over a 95% discount from all-time highs. That’s quite an incredible fall from grace, especially when you consider that Ethos have now launched their universal wallet and now have a working product.
In short, you are not too late to buy Ethos. The complexity of wallets is a major hurdle for any new crypto investor which Ethos claims to solve in addition to working on a crypto exchange and fiat deposit options in the future. Essentially they are creating a one-stop shop to buy, sell and store crypto. We think this solution will be popular and with the successful launch of their universal wallet, Ethos has shown that they can deliver.
Ethos Coin Price Prediction
In crypto, people like to make outrageous price predictions. The truth is that you should be very skeptical because no one knows how to properly value crypto assets in the first place. Instead, we recommend that investors do their research and judge coins on their merit. In the medium term, you can see Ethos as an ecosystem that provides three things:
- A universal wallet to store many different types of cryptocurrencies in one place. It should be noted that this is already created and over 100 cryptos are supported.
- A cryptocurrency exchange to buy and sell cryptos.
- The exchange will support conventional currency deposits (like Coinbase).
- The idea is that new cryptocurrency investors will be able to create a single Ethos account and use it to make all their investments and store their coins. Sounds pretty convenient right? We would certainly agree and that’s why we believe that Ethos has an excellent chance of success and eventually taking market share away from Coinbase.
Right now, Coinbase is the undisputed home of new cryptocurrency investors. In April 2018, when Coinbase tried to make an acquisition deal it valued its shares at $8 billion. That’s a lot of money. But it does give you an idea of how much the market Ethos is going after is worth.
It must be stressed that all Ethos have got right now is a universal wallet. However, if they can successfully create a crypto exchange and deliver everything they hope to, then we confident that Ethos coin is more than capable of hitting new all-time highs.
Where To Buy Ethos Coin – Our Favourite Way
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So the first thing you need to know is where to buy Ethos coin. Annoyingly, there is no direct way to buy Ethos coin with conventional currency. This is actually a great illustration of the value the Ethos project intends to create.
Right now, you will have to convert your money into either Bitcoin or Ethereum, send this to another cryptocurrency exchange and then you can buy Ethos coin. So, where does the TotalCrypto team like to buy their Ethereum or Bitcoin? Well, we would recommend good old Coinbase. The reason is that Coinbase makes it so much simpler than other exchanges to buy crypto. That’s not all; they are fully regulated and US consumers have balances insured up to $250k. With Coinbase you get a beginner friendly platform and the knowledge that you are dealing with a legitimate business.
Once you have your Bitcoin or Ethereum, the plan is to send this to Binance and buy your Ethos coins. If you already have BTC or ETH, then just skip ahead of all the Coinbase stuff and read the Binance section.
Opening A Coinbase Account
- First Class Reputation: Coinbase is one of the oldest cryptocurrency exchanges out there and has been in business since 2012. It’s the most popular way to get into crypto.
- Beginner Friendly: The exchange has been designed with crypto beginners in mind.
- Deposit Methods: Bank transfer, card & PayPal for select countries.
- Fully Regulated: Coinbase has made sure they are compliant with all necessary regulations.
- Listed Cryptos: Bitcoin, Ethereum, Litecoin, Ethereum Classic & Bitcoin Cash.
Investing Over $100 In Crypto? Go Through The Link Below & Get $10 Free.
Need to be shown how to get set up & started on Coinbase? Check out our walkthrough.
What To Do Once Your Coinbase Account Has Been Set Up?
When you have created your Coinbase account, the next step is to buy some Bitcoin or Ethereum. Just follow the seven steps below and you will have it done in no time:
The Quick Way To Buy Crypto On Coinbase
- Log in to your account and you will see a ‘Buy/Sell’ button at the top of your screen. Just push that button.
- On the next screen hit the ‘Add Payment method’ button.
- Select a deposit method: We recommend depositing via bank transfer. Quite simply, it’s the cheapest option. However, you may have to wait up to five working days for your deposit to go through. If you cannot wait, then you can also deposit with a card or even PayPal. Once you have processed your payment, just wait for the deposit to go through on your account.
- Once your deposit has gone through you want to buy either Bitcoin or Ethereum. Click the ‘Buy/Sell’ button again and select either Bitcoin or Ethereum.
- Type in the amount you want to spend.
- Click the ‘payment method’ dropdown and select the wallet you have funds in.
- Check your order and press the ‘Confirm Buy’ button. Your BTC or ETH will then appear in your Coinbase account.
Create A Wallet To Store Ethos Coins
After you buy your Ethos coins on Binance, we recommend getting them off the exchange as quickly as possible. To do this, you will need your own private cryptocurrency wallet set up and ready to go.
It would be rude to store your Ethos coins anywhere else other than the Ethos universal wallet. We really like this wallet and it’s touted to be as secure as a hardware wallet. Not only this, it’s entirely free.
Store Your Ethos Coins In The Ethos Universal Wallet.
Opening A Binance Account
The last account you will need to set up is a cryptocurrency exchange account that has Ethos coin listed. We recommend using Binance. Not only is it the largest cryptocurrency exchange in the world, it has the highest trading volume for Ethos coin. This means you won’t be hanging around all day to get your order filled.
What To Know About Binance?
- The World’s Favourite Exchange: Binance is home to more trading volume than any other exchange.
- Beginner Friendly: The exchange is exceptionally well laid out and easy to use.
- Wide Selection Of Cryptos: Buy and sell over 100 different cryptos on Binance.
- Multi-Language Customer Support: Get English, Chinese, Japanese or Korean language support.
Where To Buy Ethos Coin? Get The Best & Forget The Rest.
Need some help getting your Binance account setup? We have a guide for that.
How To Deposit On Binance With Coinbase?
You should have your Binance account set up by now. The next thing to do is to transfer your Bitcoin or Ethereum from your Coinbase account and deposit it on Binance. We show you how in our step by step guide:
#1 Finding Your Deposit Address For Binance
- Make sure you’re logged into Binance and click the ‘Funds’ button. Then choose ‘Deposits’ from the drop-down.
- Warning: When choosing a cryptocurrency to deposit, make sure you choose BTC if you have Bitcoin on Coinbase or ETH if you have Ethereum. If you send funds to the wrong type of cryptocurrency address, you may lose your funds.
- Your Binance deposit address will then be displayed.
#2 How To Send Crypto From Coinbase?
- When logged into Coinbase click on the ‘Accounts’ button in the top navigation bar.
- Locate the cryptocurrency you have bought and hit the ‘Send’ button.
- A withdrawal form will then pop up. Paste your Binance deposit address into the ‘Recipient’ box. Then key in the amount you want to send.
- Once you click ‘Continue’ your funds will then be deposited on Binance.
How To Buy Ethos Coin With Binance?
When your Bitcoin or Ethereum deposit has gone through on Binance, you will be ready to buy your Ethos coins. Just follow the steps below and you will have your coins in a flash:
- Once you’re logged into your account, pop over to the Binance homepage. You will see a table of different crypto markets. First, you need to select the right trading pair. To do this, click ‘BTC Markets’ if you deposited Bitcoin or ‘ETH Markets’ if you have Ethereum. Then type in BQX into the search bar and click on either BQX/BTC or BQX/ETH.
- The Binance trading screen will then pop up. To buy Ethos coin at the current market price, hit the ‘Market’ button and enter the number of Ethos coins you want.
- The last thing to do is to review your order and then click the ‘Buy BQX button. Your Ethos coins will then show up in your Binance account.
Sidenote: Don’t worry if the BQX ticker doesn’t make much sense. You will still be buying Ethos coin. Historically, the projects name was Bitquence and had the ticker name BQX. Since then, the project has been rebranded and named Ethos. Binance has not updated the ticker symbol and BQX is just the old name for Ethos coin.
How To Withdraw Ethos Coin From Binance?
Now that mystery of how to buy Ethos coin has been solved, the last thing you need to do is decide where to store your crypto. There are basically two options:
- Keep your Ethos coins on Binance.
- Store them in your own wallet.
TotalCrypto does recommend taking possession of your own crypto and storing it in a wallet you control. The reason is that exchanges are heavily targeted by hackers and seeing that Binance is the biggest exchange, it is one of the biggest prizes for a crypto thief. You should be aware that some exchanges have been hacked in the past and that’s the risk you take when keeping your coins on an exchange.
It’s your choice. But if you would like to store your coins in your Ethos universal wallet:
- Get you Ethos coin public address from the Ethos universal wallet – if you need help read our Ethos wallet guide.
- Select ‘Funds’ from the top navigation bar and click on the ‘Withdrawal’ button.
- Click the cryptocurrency dropdown and select BQX. In the withdrawal form past your Ethos wallet public address for Ethos coin and enter the number of coins to withdraw. Click ‘Submit’ and your coins will be sent to your wallet.
Important: Please be aware that Binance does charge a fee for withdrawals. This changes regularly, but the latest fees for Ethos coin can be seen here.
The TotalCrypto team loves the vision of the Ethos project. We completely agree that getting into the crypto market is too tricky and confusing. The Ethos universal wallet has already made setting up a wallet and managing cryptocurrencies easier. Pre-Ethos it was not uncommon for a cryptocurrency investor to have five wallets or even more. The universal wallet means that most investors will be able to get away with just having one.
We have high hopes for the Ethos exchange in the future. Most people want buying cryptocurrencies to be as easy as possible. If Ethos can execute, new investors will be able to create a single account, deposit their fiat and be able to buy, sell and store over 100 cryptocurrencies on one Ethos account. We think that sounds much easier than the current process and this will lead to more people investing in this asset class.