What is the best exchange to buy and sell Ethereum (ETH) using USD?

Ethereum is a digital platform on which a whole range of applications can be built, including identity software, security programs, and, of course, methods of payment.

So while the cryptocurrency itself is often referred to as ‘ethereum’, its more accurate name is ‘ether’.

Just like traditional currency, you can own, exchange, or speculate on ether. As it’s virtual, however, the currency operates outside of a central authority, such as a bank or a government.

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How can I trade CFDs on ethereum?

To trade ethereum’s token, ether, you generally need access to an exchange, along with a virtual wallet which can take several days to acquire. But when you trade CFDs on ether, you never actually own the cryptocurrency. This means all you need is an IG trading account, which takes minutes to set up.

On our trading platform, you’ll always see ether quoted against another currency, such as the dollar. Rather than taking actual ownership when you open a position, you’re instead speculating on the cryptocurrency’s rise or fall in value against the other currency. If you’re correct, you’ll make a profit; if not, you’ll make a loss.

Keep in mind that as CFDs are leveraged products, you’ll only ever need to put down a small deposit to gain exposure to the full value of the trade. This means your capital goes further, but you also stand to lose more than your initial outlay.

You can use CFDs to open long and short positions, with spreads starting from just 2 points. Ethereum can be traded on all our platforms, including MT4.

Factors affecting ethereum

Ethereum is less exposed to many of the economic and political factors which affect traditional currencies, but its value is influenced by a host of unique dynamics:

• Availability
• Unlike bitcoin, there is no limit on the supply of ethereum. Even so, many ether units will continue to be added and lost over time, causing its availability to fluctuate.
• Wider acceptance
• The ethereum ecosystem is constantly changing as adoption of the cryptocurrency grows, both among independent investors and those in industry.
• Government regulation
• Governments are still adapting to cryptocurrencies, with considerations for supervision mechanisms and other new guidelines.
• Media coverage
• Negative press, particularly surrounding security lapses and hacks, can impact public perception of ethereum’s value.
• Technological advances
• Ethereum’s integration into payment systems, crowdfunding platforms, and more could raise its profile, while confidence in traditional systems may begin to erode.
• Market manipulation
• A lack of regulation means traders may be able to influence the market by buying and selling in significant quantities.