Kraken Cryptocurrency Exchange
Ethereum Classic (ETC) is the 48th largest cryptocurrency by market cap, valued at US$2,680,050,564.
Ethereum Classic is a highly volatile asset capable of major price swings in a single day. Today the price of ETC is $17.73, which is higher than yesterday's trading price of $17.71. Over the past year, Ethereum Classic's price has seen a decrease of -39%.
So before you buy Ethereum Classic, make sure you understand these unique risks as well as its legal and tax status here in the US.
If you're ready to get started, read on for step-by-step instructions on how you can buy Ethereum Classic.
The whole process can take as little as 15 minutes and all you'll need is a smartphone or computer, an internet connection, photo identification and a means of payment.
Find an exchange to buy, sell and trade ETC by comparing deposit methods, supported fiat currencies and fees. Select Go to site to sign up directly with the exchange.
Ethereum Classic is the original Ethereum blockchain. It's an open-source, peer-to-peer platform where developers can implement dapps and smart contracts.
Smart contracts are decentralized applications (dapps) that are made to run exactly as programmed without downtime or third-party interference, and Ethereum's popularity has seen it become one of the world's largest digital currencies. In June 2016, the decentralized autonomous organisation (DAO), a venture capital fund running on the Ethereum platform, was hacked and more than US$50 million was stolen. However, the Ethereum community was split on how to respond to the attack. Some wished to modify the code and return the ETH to its original owners – however, this goes against the core principle of blockchain immutability. The majority of the community favoured code modification, so Ethereum underwent a hard fork to revert the hack. However, a smaller section of the community decided to keep the main code exactly as it was, with this currency coming to be known as Ethereum Classic.
Ethereum Classic's native token (ETC) is used to fuel transactions on the network and is responsible for governance.
Cryptocurrency exchanges offer similar services, but differ in a few key ways – mainly fees, the range of cryptos available and payment methods. You can use our table to compare the features of popular cryptocurrency exchanges available in the US to help you choose the one that's right for you.
Some other factors you may want to consider are customer support, user reviews, ease of use and whether or not the exchange is registered with a local regulator. This information can be found by clicking on the exchange name in the table which will take you to its review page.
To create an account on any cryptocurrency exchange you will need an email address. Some exchanges may also ask for a phone number and photo ID, so it's a good idea to have those ready.
An increasing number of cryptocurrency exchanges will ask to verify your identity before you can deposit funds and start trading Ethereum Classic.
Once you've created an account, you will need to deposit funds to buy ETC with. You can either deposit local currency from a bank account or credit card, or transfer cryptocurrency from another exchange or wallet. Here are some popular ways to buy ETC:
The easiest way to buy ETC is by placing an 'instant buy' order to purchase it for a fixed price but not all crypto exchanges offer this feature.
Alternatively, you can open a trade on the spot market which allows you to set your own price – this is the most common way to purchase cryptocurrency. Using the instant buy feature is straightforward but typically more expensive than using the spot market.
Before buying ETC, you may want to check the market conditions. To help you decide if now is the right time to buy, you can take a look at our all-time high tool to get an idea of how the price of Ethereum Classic has been performing recently.
You can keep your ETC on the exchange you purchased it on, or move it to a personal wallet:
Ledger Nano X Wallet |
Trezor Model T Wallet |
SafePal S1 Wallet |
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Supported assets 5,500+ |
Supported assets 1,000+ |
Supported assets 30,000+ |
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Price (USD) $149 |
Price (USD) $129 |
Price (USD) $49.99 |
See more of the best crypto wallets
Before deciding whether or not to invest in ETC, it is vital you understand a few of the factors that may influence the price of the coin:
Compare today's price of Ethereum Classic ($17.73 USD) against its all-time-high price of $167.09 USD on 06 May 2021. The closer the bar is to 100%, the closer ETC is to reaching its ATH again.
Disclaimer: Cryptocurrencies, including Ethereum Classic, are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance of ETC is no guarantee of future performance. Consider your own circumstances, and obtain your own advice, before relying on this information. You should also verify the nature of any product or service (including its legal status and relevant regulatory requirements) and consult the relevant Regulators' websites before making any decision. Finder, or the author, may have holdings in the Ethereum Classic or any other cryptocurrency discussed.
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