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July 15, 2024

Is it safe to Buy Ethereum with a Credit Card?

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Ethereum has been the second-largest cryptocurrency by market cap for years, and to this day, it remains the world’s largest altcoin. Its importance for the development of the crypto industry is undeniable, and we would still only be able to trade one coin for another if not for Ethereum, which brought smart contracts, dApps, DeFi, NFTs, and all other products that the crypto industry knows and loves.

However, if you are planning on buying it, it is understandable that you wish to know if it is safe to do so. Especially if you plan to do it with your credit card directly.

When it comes to how to buy Ethereum with a credit card, that is a different topic, and you can learn more about it by clicking on the link posted earlier in this sentence. 

What interests us today is — it is safe to do so?

The short answer is — yes, but only if you use a secure exchange. 

Essentially, your biggest problem with buying Ethereum on exchanges are scammers. They know that the crypto industry is full of inexperienced would-be traders and investors, and they will seek to trick them into giving away their money. 

That is why you should not trust any exchange except for the biggest, most reputable ones. The exchanges that are regulated, supported by other companies, and have a reputation as safe platforms. It shouldn’t be difficult to find out if an exchange you are interested in has been around for long, and what the internet is talking about it.

The most important part is remembering to do so, and not falling for deals that seem too good to be true. The general rule of thumb when it comes to crypto investing — if a deal ever seems too good to be true, that is usually the case, and someone is trying to scam you. Don’t let that happen — do your research, and make decisions based on known facts that you can confirm, not on empty promises given by strangers on the internet.

Dikki Loona