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4 WAYS OF ACQUIRING ETHEREUM IN CANADA

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ETHEREUM MINING

Like Bitcoins, you can mine Ethereum using the blockchain technology.

EXCHANGING WITH BITCOINS

Do you have some Bitcoins?

BUYING THEM THROUGH CRYPTOCURRENCIES EXCHANGES

Maybe you cannot afford to invest in powerful computers to mine Ethers.

RECEIVING PAYMENT IN ETHERS

As you know, the world is moving to the digital platform.

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After Bitcoins, Ethereum is the next on-demand altcoin. Given that it enables people and organizations to run their apps on it, the digital currency is receiving overwhelming support from business giants such as JP Morgan. Due to this, owning Ethereum in Canada puts you in a strategic position of becoming the next millionaire if not a billionaire.

As you may know, Ethereum enables people to run an application on the blockchain network. The apps using this platform never experience any downtime or stop working at any point. As such, businesses will continue subscribing to the idea in the coming days. But the question is, how do your acquire Ethereum in Canada? Here are several ways:

ETHEREUM MINING

Like Bitcoins, you can mine Ethereum using the blockchain technology. The mining process involves solving some cryptographic puzzles where you win Ether tokens. Like any other coin mining process, you need to do huge computations using a robust computer system and power.

 As the demand for this altcoin increases, more people are joining the mining activity. Hence, you have to invest on powerful machines to enhance your chances of winning Ethers. Also, you need to install mining software known as Ethminer, or else you can join a pool of miners. Either way, you will have an opportunity to own Ether tokens.   

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EXCHANGING WITH BITCOINS

Do you have some Bitcoins? If so, you can earn Ether tokens by exchanging them through the available cryptocurrency marketplace. Here, you need to find exchanges that allow you to exchange cryptocurrencies for others. Then, you need to deposit your Ethers and seek buyers exchanging altcoins for Bitcoins. One of the renowned exchange platforms that allow you to exchange Bitcoins for altcoins is Changelly.

 Here you need an Ethereum wallet to receive Ethers. Also, you need to create an account using your email address to be able to generate addresses for completing transactions. With this, you will be good to go. Notably, Ethereum exchange with Bitcoins takes less than 30 minutes to be confirmed on the network, unlike other coins which can take four or so hours. So if you have some Bitcoins, now you know you can convert them into Ethers.   

BUYING THEM THROUGH CRYPTOCURRENCIES EXCHANGES

Maybe you cannot afford to invest in powerful computers to mine Ethers. Also, you do not possess Bitcoins to exchange for the new coins. Now, you are wondering what will be your next move. You do not have to worry. With the presence of cryptocurrency exchanges like Coinbase, buying Ethereum in Canada is no longer a big deal.

To do this, you will require an Ethereum wallet. Also, you need to download the private key and transaction addresses. Like any other virtual coin, making a minor mistake in the buying and holding process can lead to high losses. Hence, it is essential to take precautions in the exchange process.

RECEIVING PAYMENT IN ETHERS

As you know, the world is moving to the digital platform. Any transactions in the virtual world will be performed using the virtual currencies. Even though not all organizations have accepted the idea, any futuristic entrepreneur in Canada or elsewhere is customizing their stores to accept cryptocurrencies as a form of payment. In this essence, if you own a business, you can start accepting Ethereum as a mode of payment for goods and services you offer. However, you need to be conscious to avoid falling into the hands of scammers. Thus, before operationalizing such a process, equip yourself with adequate knowledge about cryptocurrencies and how they work.

All in all, you can acquire Ethereum using any of the above means. Hence, you do not have a reason to be left out on the new revolution of digital currency.