Buy Ethereum Classic: A Guide to Invest in ETCs
Published: 11 November 2020 by Valentina
The world of cryptocurrencies is very fascinating and to understand how some of them have born, we need to analyze the reasons that have caused some historical divisions, such as that between ETC and ETH. To buy Ethereum Classic (ETC) means investing in the original Ethereum blockchain, the immutable and eternal one, different from the new ETH (EThereum) blockchain, which diverted its run in 2016… but what happened?
OnlineTradingCourse is a reference point for buying cryptocurrencies and in this guide we will explain in detail what led to the birth of Ethereum Classic, what the difference is with ETH, and which are the forecasts for ETC.
Let’s see immediately what we need to do to buy Ethereum Classic in three simple steps:
- We must choose a regulated CFD Broker.
- We must do some practice on the Demo account in order to familiarize ourselves with the platform.
- After that, we make the minimum deposit and start investing in cryptocurrencies.
These are the steps to take to buy Ethereum Classic safely and without paying commissions.
Thanks to CFD brokers like eToro, we can trade the main cryptocurrencies, such as Ethereum Classic, in total safety, avoiding the risks associated with exchanges. Here are the best platforms to buy Ethereum Classic:
Min. Deposit: 50€
Min. Deposit: 100€
Min. Deposit: 50€
Min. Deposit: 250€
Min. Deposit: 100€
72.30% of retail CFD accounts lose money
Min. Deposit: 250€
Buy Ethereum Classic: History and origins
Ethereum Classic is the cryptocurrency that keeps the original Ethereum blockchain unchanged, or the “ledger”, the one that must remain unchanged over time.
On the 20th July 2016, the Ethereum foundation made a so-called hard fork, i.e. it created a derivation of the original blockchain.
The previous, unaltered version of Ethereum was renamed and continued as Ethereum Classic (ticker: ETC), while the new version of the blockchain continued as Ethereum (ETH).
This division was born after a theft of around 50 million dollars on the original Ethereum network, due to a vulnerability in the DAO (Decentralized Autonomous Organization) that manages Smart Contracts, the famous contracts that made Ethereum so popular and made it become so valuable in the vast cryptocurrency market – second only to Bitcoin.
To solve the vulnerability that led to that attack, changes were made to the blockchain, but not all investors followed the new path of Ethereum (ETH). Indeed, some preferred to remain faithful to the original version and this is how Ethereum Classic was born ( ETC).
Ethereum Classic: Quotation and value in real time
Is buying Ethereum Classic worth it?
Buying Ethereum Classic is worthwhile if you like the idea of following the original project of this cryptocurrency, which in theory should have remained unchanged. However, due to force majeure, it has undergone this hard fork that gaver born to two versions of Ethereum.
Cryptocurrencies offer excellent trading opportunities, but analysts disagree about the future of Ethereum Classic. Indeed, some predict that ETC will experience some downward pressure in the coming months, but on the other hand, there are big investors who are very optimistic and who believe this cryptocurrency could hold its own against its more famous sister and see its share price rise significantly in the long run.
Whatever the forecast that convinces you the most, you can invest in it. With CFDs, in fact, you can earn both from the growth as well as from the decline of a cryptocurrency. You just need to point in the right direction!
How to buy Ethereum Classic
Investing in cryptocurrencies is not difficult and there are two methods that can be used to speculate on this volatile market: Exchanges and CFD brokers.
- Cryptocurrency Exchanges are websites that allow you to convert cryptocurrencies among them or into fiat currencies such as Euros or Dollars.
- CFD Brokers are intermediaries that allow you to invest in cryptocurrencies through derivative contracts that replicate the price.
To sum up, we can say that Exchanges have security issues, because they are not regulated and they charge commissions for each transaction.
CFD brokers, on the other hand, operate with a regular license, have no commissions, and are safe and reliable. They also allow short selling, i.e. they offer the possibility of speculating even on the drop of the price of a cryptocurrency.
Buy Ethereum Classic with the best platforms
The best platforms to buy Ethereum Classic are those offered by CFD brokers, which have numerous advantages over cryptocurrency exchanges.
On the practical side, to invest in Ethereum Classic, once you have chosen the Broker, you must:
- Buy Ethereum Classic CFD to profit from price growth
- Sell the Ethereum Classic CFD to profit from the price drop
- Once the desired level is reached, you can close the transaction and you can withdraw the net profit, without commissions.
Now, let’s describe the best platforms to buy Ethereum Classic safely: eToro, ForexTB and IQ Option.
eToro: Intuitive platform to buy Ethereum Classic
eToro stands out a lot among online brokers, reaching an incredible spread, especially thanks to its intuitive platform and its reliability.
This Broker operates in the UK with a FCA license and is also authorized by other entities in various other countries.
Below, you can see a screenshot of the eToro platform with the Ethereum Classic CFD:
To buy Ethereum Classic (or sell it), you need to click on “Trade”, decide whether to buy or sell the cryptocurrency, and decide how much to invest in the single operation.
eToro wants also to respond to the needs of those traders who prefer to make automatic investments in cryptocurrencies, proposing a patented system called Copy Trading.
With this tool, it is possible to copy the operations performed by the best traders in the world (on eToro) automatically and for free.
Copy Trading works like this:
- Register on eToro
- In the section “people”, you can choose the traders to copy based on the performance.
- With a click, Copy Trading will copy exactly the same operations of the chosen traders in your account.
- At this point, you will get the same returns as these trading experts (of course, in proportion to your investment), without doing anything else.
Here are some of the best eToro Traders:
Both Copy Trading as well as traditional trading can also be tested on a free Demo account, without taking real risks.
For more details you can read our full eToro review.
ForexTB: Trading signals to buy Ethereum Classic
ForexTB wants to be different from other online brokers by offering specific training and support to its investors.
The security of ForexTB is guaranteed by the CySEC license, valid throughout Europe. Moreover, in order to satisfy every type of investor, it offers two trading platforms, both free:
- The web platform is easy to use and can be entered from any browser without downloading any software.
- Metatrader 4 is more technical and full of professional indicators and meets the needs of the more experienced traders.
Here’s what the web platform looks like with the Ethereum Classic CFD:
Investing in Ethereum Classic is very easy: Just click on buy or sell and decide how much to invest in the operation.
ForexTB has created a free trading course considered the best basic course on the market. The pdf contains a detailed description of online trading, which allows even novice traders to quickly learn the basics of technical analysis.
After the theory, you can practice with free Trading Signals that ForexTB sends to all its investors. They are reliable indications, with a success rate of 70%, developed by Trading Central.
IQ Option: Buy Ethereum Classic with 10 Euro
IQ Option wants to respond to one of the preeminent needs of investors: Investing small amounts.
Traders, especially those with little experience, want to be able to trade cryptocurrencies (or other securities) for real just by making small investments. To satisfy this need, IQ Option offers the possibility of opening a real account with only 10 Euros!
The safety of this broker is confirmed by the FCA license.
Buying Ethereum Classic is very convenient with this online Broker: It is not necessary to have a large capital to invest to experience the emotions of real trading. This is of course very different from trading on a Demo account, which is available for those who want to practice without any risk.
The IQ Option platform is very fast, simple, but at the same time it has all those indispensable tools for modern trading.
In addition, novice traders can improve their knowledge thanks to a series of courses and training material free of charge.
Buy Ethereum Classic forecast
The value of any currency comes from investor confidence. In the case of Ethereum Classic, this confidence took a major hit with the famous 2016 attack.
Now, ETC is slowly trying to win this confidence back, but it will take some time. The growth potential is considerable, given the current prices and the difference with Ethereum (ETH). Below, we can see the graph of the last few months showing the recovery from the collapse due to the outbreak of the coronavirus pandemic.
Major international investors have made the following predictions for Ethereum Classic:
- WalletInvestor has a rather bleak picture for the future. Its Ethereum Classic price prediction is bearish, pricing a possible drop to just $ 0.468. It would be a 90.1% slip from its current price. An excellent downside trading opportunity for investors who use CFD brokers.
- DigitalCoinPrice instead, believes that ETC could end the year at $ 6.61 and could reach $ 28.13 in the near future, making it an excellent buying opportunity for long-term trading.
Ethereum Classic pros and cons
Ethereum is not just a currency: It is a platform on which people can build projects that will dictate the future. If decentralization is truly the future, then Ethereum Classic cannot but be part of it.
Its structure has given way to a whole series of cryptocurrencies that have been inspired by the Ethereum blockchain, such as Ripple, or like the emerging cryptocurrencies of which EOS, Tron, and Cardano are part.
Below, we have summarized the pros and cons of Ethereum Classic in order to simplify its evaluation.
- The original cryptocurrency of Ethereum.
- It remains faithful to the philosophy of the immutability of the blockchain.
- It has recently gained support from some large investors.
- Old Ethereum investors switched to ETH.
Buying Ethereum Classic can be an excellent investment, especially thanks to CFD brokers that allow you to invest even downwards, focusing on the drop in the price of this cryptocurrency.
With Brokers, you can earn in both situations – the increase or the drop of Ethereum Classic value – you just need to point in the right direction! We recommend starting by practicing with a Demo account and after that, moving on to real investments by making the minimum deposit required by the broker.
Here are the official links to access the Demo accounts of the best cryptocurrency trading platforms:
- Access the eToro Demo account for free by clicking here
- Register on ForexTB and try the Demo account by clicking here
- Access the IQ Option Demo account for free with this link
Ethereum Classic is a hard fork of Ethereum that maintains its original structure.
Ethereun Classic is based on the original Ethereum blockchain while ETH has a modified structure.
CFD Brokers are the safest and most affordable platforms to invest in ETCs without paying commissions.
The predictions for Ethereum Classic are not unanimous, find out by reading our guide.