How to Buy Ethereum Classic (ETC) ByJohn LadelucaPRO INVESTOR Updated: 18 February 2023 Ethereum is one of the most known and reputable cryptocurrencies in the blockchain and digital asset hemisphere. It is a form of value that enables transfers online where transactions are immutable and assets can be sent and confirmed within mere seconds However, many don’t know that Ethereum soft forked (which essentially means they updated their code) in 2016 after a massive attack on the Ethereum blockchain. Ethereum Classic and the creators/developers behind it decided that they did not want to side with this massive change, so they continued on the ‘old’ blockchain, and named it Ethereum Classic. As of now, Ethereum and Ethereum classic both coexist and have communities and monetary values of their own. Both are cryptocurrencies with their respective advantages and pros; however, buying Ethereum Classic and distinguishing between the two can often be confusing. Buying Ethereum Classic, or any crypto in general can be very confusing if you’re a beginner in the blockchain domain. To help you with the same, we’ll walk you through how to buy Ethereum Classic, what Ethereum Classic is/how it’s different from Ethereum, and also the best and most cost-efficient exchanges to buy the token. How to buy Ethereum Classic (Quick Step Guide) Step 1: Open an eToro Account – The first step is to open an eToro Account, where you will be required to sign up and provide KYC details. Step 2: Deposit Funds – Link a deposit method and then proceed to fund your account with your desired amount. You can add funds to your account using crypto from other wallets or fiat methods like debit/credit cards, and more. Step 3: Search for ETC – Find a pairing of “ETC” to your deposited crypto – on eToro, you must search for the token by typing in the ticker name – ETC – in the search bar. Step 4: Buy ETC – Click on the “Open Trade” button, put in your buy order, enter the amount of ETC tokens you want to buy and click on the Trade button to submit. Buy ETC Now Where to Buy Ethereum Classic in 2023? ETC may have been sidelined to an extent since the main Ethereum blockchain took all the limelight post-inception. However, it is still a very popular cryptocurrency and has a surprisingly high number of investors. The token had received much traction during the previous bull run too and is available on all major cryptocurrency exchanges. However, it is vital to consider other key factors like security, ease of purchasing, usability etc. while choosing a platform to buy ETC from. Naturally, it may be more difficult for beginners to purchase or sell their ETC tokens than it would be for experienced investors. Fortunately, some of the biggest and most popular crypto exchanges in the world feature simple but highly efficient interfaces, which anyone can navigate with ease. They also have beginner guides and built-in tutorials, which can be a major advantage for someone new to the space. While there are many such exchanges at the moment, three of them stand out as the top available options. Here is an overview of these three exchanges which may be ideal platforms for investors to buy, sell and trade ETC in 2023. eToro – Best Crypto Exchange Regulated by CySEC, FCA and ASIC Founded in 2007, eToro has seen immense growth and has remained one of the top avenues for buying, selling and trading cryptocurrencies. It is a one-stop destination for everything finance related, as the product offerings on the platform go even beyond crypto. There are multiple features on the platform which make eToro an excellent exchange at a first glance. However, the most popular one that a huge chunk of its users benefit from is the dummy account. Users can trade without using real funds here to get an idea of what trading in different assets would be like. They can also test out strategies, learn technical analysis, etc. using this feature. It is also an excellent option for those worried about security. eToro has historically been one of the safest avenues for trading and investing, and is regulated by some of the top reputed authorities in the world. These include the CySEC, FCA and ASIC. It has multiple payment options, and a wide variety of assets to trade from. At the moment, eToro boasts more than 27 million registered users and continues to grow as a prominent entity within the finance industry. Pros Zero commission on stocks Competitive spreads depending on the types of cryptocurrencies Investors can copy other traders using the copy trading tool Virtual Portfolio, educational tools for beginners Social trading platform to connect users Cons Limited investment options May not be suitable for traders looking for advanced technical analysis Withdrawal fees Inactivity fees Buy ETC on eToro Your capital is at risk Binance – No.1 Exchange In Terms of Volume Traded Another exchange for buying ETC tokens is the Binance exchange. It is a name that almost every crypto enthusiast would be familiar with by now. Founded in 2017, Binance was created by Changpeng Zhao, a developer who had previously created high-frequency trading software. With more than 350 top cryptocurrencies available for investing and trade, Binance is undoubtedly a great platform for investing in the ETC token. The organization was previously headquartered in China; but relocated its offices to Japan, and then expanded to several other locations across the world. It is a featured-packed exchange with options like features like the Binance eWallet, the mobile trading app, analytical charts, and deep-depth research for advanced traders. The platform has always managed to keep a very active social media presence, which is how it integrates most of its customer feedback- by listening to the opinions of users who comment on their social media posts or stories. It is also the biggest exchange in the world, and caters to more than 120 million users, as previously stated by the exchange itself. Since it has a global presence and a massive reputation, users can confidently buy, sell or trade ETC tokens on the platform. Pros Hundreds of cryptocurrency pairs Secure multi-currency wallet Basic and advanced trade setups Good liquidity Extensive educational resources Various deposit options Cons Complex platform; may not be suitable for absolute beginners Has run into regulatory trouble in several countries Buy ETC on Binance Your capital is at risk OKX – Excellent Exchange for Beginners with Low Fees OKX is one of the oldest and highly popular crypto exchanges in the world. It is a top choice in several countries, thanks to its extensive set of cryptocurrency options and features. Since its launch in 2014, OKX has managed to position itself as a very secure avenue for dealing with cryptocurrencies. Naturally, this has been reflected in the number of users the exchange has retained over the years. Infact, it is one of the fastest-growing crypto exchanges too and is among the top 10 platforms in terms of traded volume. The organization has built trust among its users and currently caters to more than 180 crypto-centric regions across the globe. It hosts more than 350 cryptocurrencies like ETC and allows multiple trading options. Moreover, there are dedicated sections for practising trades, learning about crypto, staking for passive income and much more. It is also one of the few top crypto exchanges to levy minor fees when compared to most of its competitors. With excellent customer support, no deposit or withdrawal fees and several other perks, OKX can also be an ideal alternative to eToro or Binance for buying, selling or trading the ETC token. Pros Low trading fees Zero OKX deposit fees Accepts multiple payment methods, such as a bank transfer Huge selection of crypto coins Allows a range of pro-trading options like spot, futures, and derivatives trading It has an easy interface together with a separate mobile application Cons US citizens are not allowed A demo account is not available There are limitations to withdrawals Buy ETC on OKX Your capital is at risk What is ETC? In 2016, Ethereum was just starting out and was blossoming into the mainstream blockchain infrastructure giant that we know today. Companies were taking interest in Ethereum’s DApp development structure, investors and traders were starting to pour into the markets at rapid rates, and creativity was very apparent. As a result, a conglomerate of different developers, prominent market participants, and VC-like individuals came together to create what would be called ‘The DAO’. To keep it short, the DAO was simply a decentralized investment opportunity where you could contribute to the program and in turn, it would invest in profitable opportunities for you. It was a massive success and amassed over $150 million in investments. However, the underlying smart contract was hacked, and more than $150M was stolen right away. Although the story was more complex, Ethereum had a choice; they could fork the chain and have it so that the funds were recovered (Something that many people disagreed with because it was against the concept of ‘complete decentralization’), or carry on with Ethereum participants losing over $150 million to an unknown hacker. Keep in mind, at the time, this was around 14% of all Ether in existence; in just a blink of an eye, a random hacker had stolen 14% of all of the Ether in the world. As a result, Ethereum ultimately forked (A basic way of saying they updated to a new infrastructure code), and reversed the destruction, but part of the Ethereum community was upset with how the situation was handled. This part of the community decided to run Ethereum on the original chain, and therefore ‘Ethereum Classic’ was born. It’s important to note that Ethereum and Ethereum Classic are two separate entities. They are two different cryptocurrencies, and you should never send Ethereum Classic to an Ethereum address and vice versa. They are also two different blockchains; both have their respective differences. At the moment, Ethereum Classic’s blockchain still runs on a Proof of Work (PoW) consensus while Ethereum has updated to a Proof of Stake (PoS) consensus. Ethereum Classic, nonetheless, is still a popular and promising cryptocurrency. It can be sent, received, confirmed, and settled in another person’s wallet across the globe in mere minutes, if not seconds. While Ethereum and Ethereum Classic maintain differences in their structure, they are both powerful cryptocurrencies that can be utilized for online payments, peer-to-peer transactions, and more through their respective networks. Is it Worth Buying ETC in 2023? In a logical sense, Ethereum Classic is a thing of the past, and something which cannot be compared to a project as massive as Ethereum. However, the last couple of years has made it evident that the cryptocurrency domain’s growth heavily depends on the community and its perception of growth for any particular asset. The project still has a massive fanbase and continues to gain investors regularly. It also performs the tasks it was created to complete successfully and has the status of the “original Ethereum blockchain”. It may be safe to assume that ETC may record a considerable spike in prices in the upcoming months and years, thanks to its dedicated chunk of investors and developers’ promise of a potentially enhanced-utility token. The growth potential of the token may be quite apparent, since it increased in value in 2021, shocking a majority of the crypto-investing citizenry. However, investing in the token blindly without considering its entry price and other similar factors could also lead to the investor losing their funds. However, for those looking to currently analyse the price, and invest in the token expecting good returns in the long term, ETC can be a wise investment decision indeed. While we may not essentially suggest it as a place to park your funds for short-term gains, it is a recommended choice for reaping profits in the upcoming years. Ethereum Classic Price ETC as a token has had two major pumps since it was introduced as a different entity. One was right after its introduction, where the token went from $11 to more than $40 within a span of 2 months back in 2017. After it corrected, the token hadn’t seen much growth till the 2021 bull market kicked in. The following pump was during this time, when the token shot up from its stagnant $11 range to a staggering $119 price point in May 2021. Since the last pump, however, the token has been on a continuous downtrend and has fallen back to its previous price levels. At the time of writing, the token is trading at about $22 with a market cap of more than $3 billion. There are 139,499,035 ETC in circulation, whereas the maximum token supply is 210.7 million tokens. Buy ETC on eToro Your capital is at risk ETC Price Prediction Ethereum Classic may be an asset that could potentially grow in value in the upcoming years, as mentioned above. While there is no exact way to speculate an accurate price movement for ETC or any other token, one can rely on technical analysis to get a general idea of where the cryptocurrency might be headed next. Surely, these predicted values can fluctuate if there are any unexpected catalysts in the market that could affect the price positively or negatively. However, it can still provide some data with respect to the historical price movements of the token in question. ETC Price Prediction 2023 We expect 2023 to be a decent year for ETC. While it is unlikely to see any major price increase in the token, it may still be able to go as high as $29 by the end of 2023, if the market conditions are at least stable. ETC Price Prediction 2024 2024 may be a great year for ETC. It is likely that 2023 will be utilized by the project’s developers to create and bring new developments to the project which may launch in the following year, i.e. 2024. Under such conditions, it may be possible for ETC to perform well, and potentially reach the $38 level. ETC Price Prediction 2025 With the new products and developments that would have rolled out in the previous year within the Ethereum Classic ecosystem, the ETC token can be expected to perform exceptionally, and even explore the $50 range. If the market conditions are ideal, then the project’s consistent growth in terms of the aforementioned updates and developments may also help it in exploring its previous all-time high of $119; although it is a distant possibility. ETC Price Prediction 2026 Ethereum Classic’s community will play a huge role in the long-term growth of the token. Keeping such aspects in mind, we expect the token to realistically be in the $67-$72 range. How to Buy Ethereum Classic – Step-by-Step Guide Step 1: Register on eToro Exchange As we mentioned above, eToro is an excellent crypto exchange that hosts multiple cryptocurrencies including ETC. In order to purchase the token, you will first need to register on the exchange as a user. The process is fairly simple, as you will only be expected to fill out a small form consisting of details like your full name, email address etc. You will also be able to set your login password, which can be used to access your eToro account on any device. Step 2: Deposit Funds You need to have a funded eToro account to be able to purchase ETC tokens. eToro has multiple payment options, from which you can select one for adding funds to your account. If you have stablecoins or other cryptos you wish to swap for ETC on your defi wallet, then you can also transfer those tokens to the exchange directly for 0 fees. Step 3: Buy Ethereum Classic Once your account has been funded, simply search for the ETC ticker on the spot section of eToro. On the next page, you will have the option to purchase the token. Type in the number of tokens you would like to purchase and place an order. As soon as the current token value hits your order price the ETC tokens will be deposited to your eToro exchange wallet instantly. Buy ETC on eToro Your capital is at risk Differences Between Buying and Trading Ethereum Classic Buying Buying Ethereum Classic means you own the actual underlying asset. ‘Buying’ will in most cases be associated with fundamental usage. These include use as a currency, investment, etc. There are multiple factors that are assessed when ‘buying’. You can only use Ethereum Classic as a form of payment online if you buy it. ‘Buying’ is relatively referenced to longer periods of time as opposed to shorter speculative time frames. Trading Trading Ethereum Classic is associated only with the price movement of the cryptocurrency in the markets. Fundamental usage is not upheld in this case. When you are trading Ethereum Classic, you are sometimes using financial products such as CFDs for semi-rapid purchases of the asset. Trading Ethereum Classic does not allow you to use it for things such as payments, or online services. There is a higher risk associated with trading ETC because of margin and accruing fees. How to trade Ethereum Classic with a trading robot Ethereum Classic can, in fact, be traded using cryptocurrency robots, however, be aware there is a degree of risk that is imposed when doing this. Trading robots (Otherwise known as ‘cryptocurrency robots’ in the cryptocurrency markets) are programs that automatically trade the markets for you after linking your account to the program. As a result, the trades are then automatically executed based on certain parameters you set. Many of these are already coded for you; if you find a legitimate trading robot, which we recommend you spend a very good amount of time researching and vetting prior to using any funds on these, you are able to trade an Ethereum Classic pair with the robot. In order to do this, whether your robot runs off of a simple interface or through a back-end program, find the ‘Trading Pairs’ section; you will have to select the ‘ETC’ trading pairs, so ‘ETC/BTC’, ‘ETC/ETH’, or any other equivalent Ethereum Classic trading pair. Once selected, you can then move forward by enabling automatic trading; keep an eye out for scams or schemes in this area as there are many prevalent. Conclusion Ethereum Classic can be confusing to get the hang of at first; the process of buying, sending, selling, or trading this cryptocurrency is relatively difficult for any beginner. We believe that this article is a good guide to refer to whether you are starting out with buying cryptocurrencies like Ethereum Classic, or are a veteran looking to bolster up your skills. While there are multiple options from where you can stock up on ETC tokens, our top recommendation is eToro, which you will find to be one of the best and most easy to use exchanges as well. eToro - Our Recommended Crypto Platform Our Rating ASIC, CySEC and FCA regulated - 30 Million Users Worldwide Buy with Bank transfer, Credit card, Neteller, Paypal, Skrill, Sofort Free Demo Account, Social Trading Community Free Secure Wallet - Unlosable Private Key Staking Rewards for holding ETH, ADA or TRX Copytrade Professional Crypto Traders Buy Crypto 81% of retail investor accounts lose money when trading CFDs with this provider. FAQs What's the difference between Ethereum and Ethereum Classic? Ethereum and Ethereum Classic are two entirely different cryptocurrencies that run on two separate blockchains. This means they are not compatible with one another, and they are both run by two separate teams. Ethereum Classic was created in 2016 when a huge network hack took hundreds of millions of dollars from user funds, and the Ethereum collective came together to form a conclusive decision on how to solve this hack; however, many in the community disagreed with this solution and decided to part their own ways on the older legacy chain and named it 'Ethereum Classic'. Thus, Ethereum and Ethereum Classic are two different assets and are represented by two different trading symbols Do I have free Ethereum Classic and not know it? The only way that you could possibly have unknown Ethereum Classic in one of your wallets is if you owned Ethereum during the DAO dilemma in 2016 which was around the time where Ethereum and Ethereum Classic decided to split from one another. If this is the case, it is possible you may own Ethereum Classic and are unaware. What is the best way to buy Ethereum Classic? There is no singular answer for which method is the best for buying Ethereum Classic. However, we recommend eToro as one of the quickest, safest, and most cost-efficient options for buying the token. Is it Legal to Buy Ethereum Classic? Yes, Ethereum Classic is perfectly legal. Ethereum Classic is categorized as a cryptocurrency which is subsequently considered to be legal tender in most jurisdictions including US, UK, AU, and Japan. However, there are some jurisdictions and countries that have unique or particular restrictions or laws that pertain to cryptocurrencies such as Ethereum Classic, and as a result, these cases would constitute its buying as illegal.