cETH is a token that belongs to the Compound protocol. The Compound protocol provides users with a way to earn interest on their digital assets without selling them off. The cETH token was released to make this process easier for users.
The token is particularly great for those of you that prefer to hold your coins long-term, as your assets can now work for you in the shape of regular earnings. In this guide, we will explain to you all you need to know about how to buy cETH.
Contents
- 1 How to Buy cETH – Quickfire Walkthrough To Buy cETH In Less Than 10 Minutes
- 2 How to Buy cETH – Full Step-By-Step Walkthrough to Buy cETH
- 3 Where to Buy cETH Online
- 4 Ways to Buy cETH
- 5 Should I buy cETH?
- 6 Risks of Buying cETH
- 7 Best cETH Wallets
- 8 How to Buy cETH - Bottom Line
- 9 Buy cETH Now via Pancakeswap
- 10 FAQs
- 11 How much is cETH?
- 12 Is cETH a good buy?
- 13 What is the minimum cETH tokens you can buy?
- 14 What is the cETH all-time high?
- 15 How do you buy cETH tokens using a debit card?
- 16 How many cETH tokens are there?
How to Buy cETH – Quickfire Walkthrough To Buy cETH In Less Than 10 Minutes
Learning how to buy cETH is relatively straightforward for both cryptocurrency beginners and seasoned traders alike. As cryptocurrency trading evolves, different methods of buying coins emerge. One of such methods is using a decentralized exchange (DEX) like Pancakeswap.
Here, we will show you how to buy cETH via Pancakeswap and in less than ten minutes.
- Step 1: Download Trust Wallet: This wallet makes it easy to understand how to buy cETH. This is primarily because of the wallet’s simple user interface. Plus, Trust Wallet connects directly to Pancakeswap. You can get the wallet both on the App and Google Play Store.
- Step 2: Search for cETH: Once you have set up your Trust Wallet, you can look for cETH. Type the token’s name into the ‘Search’ box at the top part of your Trust Wallet, and the system will immediately bring you the respective token.
- Step 3: Add Digital Currencies to Your Trust Wallet: If you have just installed Trust, you will have to deposit cryptocurrency before you can buy cETH. You can purchase cryptocurrency using a debit/credit card or deposit some by sending digital tokens from another wallet.
- Step 4: Connect to Pancakeswap: This is a suitable DEX for trading Defi coin like cETH. However, you need to establish a connection between Trust Wallet and the DEX before going ahead with the exchange. Locate the ‘DApps’ tab on your Trust Wallet page, and select ‘Connect.’
- Step 5: Buy cETH: Now, you can purchase the token. First, find the ‘Exchange’ icon on the Trust Wallet page. This will produce a ‘From’ tab, and you can choose the token you are swapping for cETH from the system’s list. From the ‘To’ tab, choose cETH and the number of coins you want to purchase. Finally, select ‘Swap’ to complete the exchange, and await your cETH coins shortly.
Trust Wallet will reveal the cETH coins you have just bought, and you can store them there until you decide otherwise.
Always consider the risks involved when buying cryptocurrencies. Digital assets are highly speculative and volatile.
How to Buy cETH – Full Step-By-Step Walkthrough to Buy cETH
If you already know what to expect when trading cryptocurrency, then the summarized guide above on how to buy cETH might be sufficient. However, if you do not have experience trading Defi coin or using DEX’s, you may find yourself in need of a more comprehensive explanation.
We have prepared an in-depth guide that will make learning how to buy cETH a walk in the park for cryptocurrency beginners.
Step 1: Download Trust Wallet
A wallet is indispensable in the process of buying cETH. After all, you will need somewhere to store your tokens once you complete the purchase. Trust is available for iOS and Android users, and you can download the wallet via the App or Google Play Store. As we mentioned earlier, Trust Wallet allows you to connect to Pancakeswap to buy cETH.
Trust is also the official wallet of Binance, one of the largest trading platforms globally. This adds to the wallet’s credibility as a secure place for your cETH tokens.
After setting up your wallet, you get a 12-word recovery phrase from Trust Wallet. It’s in your best interest to safeguard the passphrase, as it’s useful for logging into your wallet if you misplace your mobile device or forget your PIN.
Step 2: Add Funds to Your Wallet
Although you have completed the first step, you still cannot buy cETH without depositing cryptocurrency in your Trust Wallet. There are two easily accessible ways to go about this and we’ve discussed them below.
Transfer Cryptocurrency From an External Source
Owning cryptocurrency in another wallet is an advantage, as you can easily fund your Trust by transferring some digital tokens over.
- From the ‘Receive’ tab, choose the cryptocurrency you intend to send from the other source.
- Trust Wallet will then display the unique wallet address for that cryptocurrency, and you may copy it.
- In your other wallet, paste the address you just copied into the relevant section.
- Subsequently, select the quantity you want to send, and complete your exchange.
Your cryptocurrency tokens will appear in your Trust Wallet within several minutes.
Deposit Funds With a Credit/Debit Card
You can easily fund your Trust Wallet with your credit or debit card. With Trust, you can buy cryptocurrencies directly after completing the wallet’s Know Your Customer (KYC) process.
The KYC process entails providing Trust Wallet with some essential details about yourself and uploading a valid identity card. For example, this can be your driver’s license or passport. Once you complete the KYC process, you can purchase cryptocurrency with ease.
- Select the ‘Buy’ button at the upper part of your Trust Wallet page.
- You will immediately see all the cryptocurrencies you can buy with your card.
- Preferably, choose Binance Coin (BNB).
- Finally, you can type in your card details to complete your transaction.
Since you are buying directly from Trust Wallet, your tokens will reflect in your wallet within a few seconds.
Step 3: How to Buy cETH Via Pancakeswap
Having funded your Trust Wallet, you are now much closer to buying cETH. Since you have established a connection between Pancakeswap and Trust Wallet, you can buy cETH tokens by following these instructions:
- From the ‘DEX’ tab on Pancakeswap, choose the ‘Swap’ icon.
- Pancakeswap displays a ‘You Pay’ tab, from which you choose the token you want to exchange for cETH.
- Note that this has to be the coin you funded your Trust Wallet with earlier.
- Next, select the number of tokens you want to swap for cETH.
- Then, go to the ‘You Get’ section and select cETH from the options Trust Wallet provides.
- Finalize the trade and expect your cETH tokens to reflect in your Trust Wallet within a few minutes.
As we mentioned earlier, your Trust Wallet will hold your cETH coins for as long as you desire. You can also sell them via the wallet, and we will walk you through that process below.
Step 4: How to Sell cETH
Whether you intend to hold cryptocurrency for a long or short time, you will still need to learn how to sell your cETH coins. This is a significant way to make a profit from your tokens. You can sell cETH via two methods, depending on your trading goals.
Exchange cETH for Another Cryptocurrency
Pancakeswap is a versatile DEX that equally makes it possible for you to sell your cETH tokens. The steps are similar to how you bought cETH, but with a slight change.
When you’re selling your tokens, in the ‘You Pay’ section, you will choose cETH. Then, select the new tokens you want from the ‘You Get’ tab, and click ‘Swap’ to complete the exchange.
Sell cETH for Fiat Money
Alternatively, you may choose to withdraw your investment in the form of fiat money. However, Trust Wallet does not support that, so you have to do it somewhere else. Hence, you can move the cETH coins to a trading platform like Binance.
However, you will have to go through Binance’s KYC process, as the platform does not permit anonymous transactions. Finally, you can sell your cETH coins for fiat money and subsequently withdraw the funds to your bank account.
Where to Buy cETH Online
cETH is a Defi coin that you can buy on a centralized or decentralized trading platform. However, for a seamless process and to maintain the essence of Defi, it is best to use a DEX like Pancakeswap to buy cETH.
Pancakeswap: Buy cETH Via a Decentralized Exchange
Using a DEX like Pancakeswap to buy cETH makes the process swift and convenient. More importantly, the DEX allows you to buy cETH without the need for a third party, which is in line with the goals of Defi. The DEX is also an automated market maker (AMM), meaning you’re matched against the liquidity pool to buy cETH, unlike being paired with actual sellers.
Pancakeswap also offers you ways to earn passive income. Your unused tokens on the DEX will earn you some returns, as the coins contribute to the protocol’s liquidity pool. Additionally, there are numerous staking and farming opportunities through which you can increase the earnings you make on your cETH tokens.
Pancakeswap also supports hundreds of Defi tokens, making it convenient to buy many other coins with your cETH. Furthermore, the DEX executes trades within a short time frame, which makes it seamless to complete many transactions regardless of their volume. So, if you’re looking to buy cETH quickly, this DEX allows you to do that.
In addition, Pancakeswap also charges low fees for the transactions you execute. This means you can gain meaningful profits on your cETH trades without losing the bulk of it to fees. Other means to earn returns on this DEX include prediction pools and lottery. Overall, to get started, simply get Trust Wallet and link it to Pancakeswap to buy cETH.
Pros:
- Exchange digital currencies in a decentralized manner
- No requirement to use a third party when buying and selling cryptocurrency
- Supports a sizable number of digital tokens
- Allows you to earn interest on your idle digital assets
- Sufficient levels of liquidity – even on smaller tokens
- Prediction and lottery games
Cons:
- Might appear daunting at first glance for newbies
- Does not support fiat payments directly
Ways to Buy cETH
There are several ways to buy cETH. Using Pancakeswap, you may purchase cETH through any of the two options provided below.
Buy cETH With a Credit/Debit Card
You can buy cETH with a credit/debit card via Trust Wallet. However, you need to complete the wallet’s KYC process before you can do that. All you need to do here is to provide some personal details and upload a government-issued ID.
Upon completion, you can provide your card details and buy the tokens you will exchange for cETH. Then, you can connect Trust Wallet to Pancakeswap and subsequently exchange the tokens you bought for cETH.
Buy cETH With Cryptocurrency
Alternatively, you may choose to fund your Trust Wallet with a cryptocurrency you own in another wallet. After transferring the tokens to Trust Wallet, connect to Pancakeswap and exchange them for cETH.
Should I buy cETH?
If you are considering buying cETH, you need a justifiable reason to proceed. In other words, it will be in your best interest to conduct adequate and data-based research before buying cETH. If you don’t know the things to consider during your research, we have provided you with a few pointers below.
Borrow Digital Assets With Ease
If you need some capital but do not want to sell off the digital tokens you hold, you can borrow from the cETH protocol. You can provide DAI tokens or any other cryptocurrency as collateral and subsequently borrow a percentage of the digital asset you need.
Your locked-up tokens will attract interest from the protocol, but you will not be able to withdraw the funds until you repay your debt. Additionally, you can borrow just about any asset after providing DAI tokens as collateral; however, you cannot exceed a certain percentage of the locked-up cryptocurrency.
Highly Secure Network
The engineering team for the cETH protocol regularly tests the system for bugs and defaults, leaving no loophole for hackers to get through to your tokens. The protocol uses a ‘Bug Bounty Program’ to discover vulnerabilities in its interface and subsequently corrects them.
The fact that the protocol places high regard on security means that the platform cares about its credibility. This is a significant factor to consider when evaluating the project, as credibility is a major consideration that appeals to investors when buying a coin.
Transparent Ecosystem
Defi strives to uphold a transparent ecosystem where token owners are stakeholders. The cETH protocol is also committed to ensuring adequate transparency. Therefore, by holding the protocol's governance token, you have the opportunity to contribute to its decision-making process.
You can vote directly or delegate your rights to another party. Either way, the power of your vote is based on the number of governance tokens you hold. Therefore, if you’re looking to have a significant contribution to the ecosystem, you might want to buy and hold more governance tokens.
cETH Price Predictions
Note that while you are learning how to buy cETH, you’ll come across various price predictions on the internet. This is highly common, as many supposed cryptocurrency analysts try to predict the future price of cETH.
More often than not, these price predictions are incorrect. Cryptocurrency is highly volatile, which means different factors can influence its price. As such, you should avoid investing in cETH solely based on these price predictions.
Risks of Buying cETH
cETH’s volatility makes it a risky investment. However, that is not to say that you won’t make a profit, especially if the market goes in your favor. Regardless, you need to mitigate your risk exposure.
The steps below will help you with that.
- Carry out in-depth research: Once you understand the goals of the cETH project, you’ll be in a better position to buy the token. Therefore, you should research thoroughly on the project to gain more insight.
- Invest in different tokens: Diversifying your cETH investments means that you buy some other coins to hedge your risks. That way, even if the market isn’t going in favor of cETH, you have other tokens to fall back on.
- Make small but periodic investments: By studying the cETH market, you can determine the best times to invest in the project. Here, you’ll invest a small amount at each entry point and at regular intervals.
Best cETH Wallets
You can get everything right on how to buy cETH, but make a wrong decision when it comes to storage. This is why you should exercise some care when choosing a wallet.
To help you with the process of selecting the right option for your needs, below we have highlighted the best cETH wallets for 2021.
Trust Wallet - Overall Best Wallet for cETH
Trust has all the fundamental elements you need in a wallet to store cETH safely. Trust is highly secure, and this is one of the reasons why it’s Binance’s official wallet.
Whether you’re an experienced investor or you’re just getting started with cryptocurrency, Trust has a simple user interface that makes it easy to navigate your way through the Defi marketplace.
MyEtherWallet - Best cETH Wallet for Convenience
cETH is an Ethereum Compound Finance project, making MyEtherWallet a great option to store the tokens. The wallet is compatible with both iOS and Android devices. Even if you’re new to the cryptocurrency scene, you’ll likely have no problem using the wallet to store cETH due to its user-friendliness.
Ledger Wallet - Best cETH Wallet for Security
Ledger is a hardware wallet, which you can also connect to MyEtherWallet for added convenience. That way, you can access your cETH coins online and offline. However, hardware wallets rank ahead of their counterparts, as your private keys will not be easily accessible by cryptocurrency hackers.
With Ledger Wallet, you also have access to impressive backup options and can easily retrieve your cETH private keys if the device gets lost, stolen, or damaged.
How to Buy cETH - Bottom Line
Now that you have a summarized and in-depth understanding of how to buy cETH, you can get started with the process. Buying cETH is straightforward once you understand what to do.
Simply download Trust Wallet and connect it to Pancakeswap. Then add cryptocurrency to your wallet and proceed to exchange the tokens for cETH via the Pancakeswap DEX.
Buy cETH Now via Pancakeswap
Always consider the risks involved when buying cryptocurrencies. Digital assets are highly speculative and volatile.
FAQs
cETH, as with every other cryptocurrency, never has a stable price. In most cases, the coin will trade within a particular price range for a while before it moves higher or lower than that. Regardless, as at the time of writing in late August 2021, cETH is worth just over $60.
Each investor will have different opinions on this. This is why you need to do your research when you want to ascertain whether this token is a good buy or otherwise. That way, you can make your decision from a more informed perspective.
Depending on your budget, you can buy less than one cETH token or equally - as much as you can afford.
On 23 August 2021, cETH attained an all-time high of $63.63.
The first thing you need to do is to download Trust Wallet. After that, set it up and fund the wallet accordingly. Then connect the wallet to Pancakeswap to exchange the token you deposited for cETH.
As at the time of writing in late August 2021, there’s no data concerning the number of cETH tokens in circulation. How much is cETH?
Is cETH a good buy?
What is the minimum cETH tokens you can buy?
What is the cETH all-time high?
How do you buy cETH tokens using a debit card?
How many cETH tokens are there?
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