Although Ethereum Classic lost its thunder to Ethereum, the coin is still one of the most popular and used cryptocurrencies. Learn how to buy Etherem Classic, ETC best exchanges and digital wallets and more.

Ethereum classic came into existence when a massive decentralized autonomous organization (DAO) hack took place on the Ethereum blockchain. An exploit in the smart contract underlying the DAO allowed a hacker to siphon millions of ether that had been invested in the relevant smart contract. Although Ethereum overcomes ETC in terms of market cap, popularity, and qualities, some are still loyal to ETC and find it an attractive coin.

How to Buy Ethereum Classic (ETC)?

Same as other cryptocurrencies, buying Ethereum Classic via exchanges can be done in two methods: The first one being with Fiat currencies (USD, EUR, GBP, etc) while the second method being with other cryptos such as Bitcoin or Ethereum.

Below are the best exchanges to buy Ethereum Classic either with fiat currencies (through credit/debit card or wire transfer) or with other cryptos.

Buying Ethereum Classic with Fiat Currencies – A trader can buy Ethereum Classic (ETC) from cryptocurrency exchanges such as Kraken and Bitfinex. This method can be opted for when a user has only fiat currency but no other cryptocurrency.

In this case, a trader has to open an account in one of these exchanges, deposit funds and search for ETC/USD or ETC/EUR and then, purchase the coin. Note to transfer the currency to a wallet (hot/cold) following your purchase.

Buying Ethereum Classic with other Cryptocurrencies – Alternatively, if a trader owns crypto coins such as Bitcoin, Ethereum or Litecoin, then one of the best ways is to go to Binance Exchange. A trader can instantly transact Ethereum classic in exchange for his coins.

For those who do not own Bitcoin or Ethereum and wishes to trade with Binance (as it provides a wide selection of cryptocurrencies and altcoins), we recommend buying Bitcoin or Ethereum via Coinbase.

Eteherum Classic Best Exchanges

Many exchanges provide the option to buy Ethereum Classic. Here are some of the most recommended Ethereum Classic (ETC) Exchanges.

Exchange Accept Fiat Currencies Market Share OKex No 26% Bittrex No 15% Bitfinex Yes 10% Huobi No 6% Poloniex No 4%

Other recommended brokers that provide ETC, as well as many other cryptocurrencies, are Binance, Gatecoin, and Kucoin.

Ethereum and Ethereum Classic Digital Wallets

There are five prominent Ethereum classic digital wallets that a trader or a user can choose from:

JAXX – People who are looking for a hot wallet solution for Ethereum Classic can always take a look at Jaxx. It is a very powerful mobile wallet supporting dozens of different cryptocurrencies and tokens. However, Jaxx should never be considered to be a long-term funds storage solution by any means, due to their issues with the mnemonic seed recovery. It is a good solution to store small amounts of Ethereum Classic for spending purposes, but not to store your life savings by any means.

ETHECORE PARITY – Like Ethereum parity wallet, there is an Ethereum Classic version of this solution. This particular wallet is developed by Gavin Wood and his team and supports both Ethereum and Ethereum Classic. It is good to see support for both currencies within the same wallet created by Ethereum developers.

CLASSIC ETHER WALLET – Ethereum users will be all too familiar with MyEtherWallet, a prominent platform among ETH users. The Ethereum Classic fork of this platform goes by the name of Classic Ether Wallet and offers the same features. Users can access Classic Ether Wallet through the web browser or run the open source client on their own computer for additional security. Classic Ether Wallet also includes support for future ICO tokens hosted on the Ethereum Classic blockchain, assuming such projects will come to fruition moving forward.

It is worth mentioning there is a dedicated Classic Ether Wallet Chrome plugin as well. It provides all of the same functionality as the browser and desktop version but runs inside the Chrome browser at all times. Ethereum Classic users will be more than pleased to have so many different options at their disposal right now

MIST – Some people may be surprised to learn the Mist Wallet can support Ethereum Classic, assuming it is downloaded from the correct GitHub repository. This particular wallet is currently being developed by the Ethereum Foundation, although there is a different forked version developed by Ethereum Classic developers. The Mist wallet provides a lot of functionality, and it is good to see this recognized offering being made available to Ethereum Classic users as well.

LEDGER NANO S – There is no better way to keep your ETC funds safe than by using a hardware wallet. This wallet is of great value in this regard, as it provides ETC, ETH, XRP, and BTC support. Getting your hands on the Ledger Nano S may be a bit difficult at times, though, since they seem to be selling quite quickly. Hardware wallets provide maximum security, this it is only normal to see such high demand for these products.

Let’s take a look at what Ethereum wallets are like:

Coinbase: Coinbase provides an Ethereum wallet, but the private key remains under their control. If the exchange suspects a user of conducting an illegal trading activity, it can shut down the errant account.

Coinbase provides an Ethereum wallet, but the private key remains under their control. If the exchange suspects a user of conducting an illegal trading activity, it can shut down the errant account. Exodus: It is a Bitcoin and altcoin desktop wallet which has a beautiful design and an intuitive interface. However, the flaw with Exodus is, it is not completely 100% open sources. This means that the code doesn’t get reviewed in full by the community. Also, the wallet is currently available only in a desktop version (no mobile version yet).

It is a Bitcoin and altcoin desktop wallet which has a beautiful design and an intuitive interface. However, the flaw with Exodus is, it is not completely 100% open sources. This means that the code doesn’t get reviewed in full by the community. Also, the wallet is currently available only in a desktop version (no mobile version yet). Jaxx: This is also another excellent wallet to store bitcoin and other altcoins. Like Exodus, this wallet also has an intuitive interface. Unlike most other wallets out there Jaxx supports ETH and ETC. Also, your private keys are never shared with Jaxx’s server and are safely stored on your machine. Jaxx is not open source but the code is freely available on the wallet’s website which makes it a bit more accessible for review. In order to receive Ethereum with Jaxx just make sure you have that currency set up when you first install the program. Then choose the currency on the top bar and you will see your Ethereum address right below.

This is also another excellent wallet to store bitcoin and other altcoins. Like Exodus, this wallet also has an intuitive interface. Unlike most other wallets out there Jaxx supports ETH and ETC. Also, your private keys are never shared with Jaxx’s server and are safely stored on your machine. Jaxx is not open source but the code is freely available on the wallet’s website which makes it a bit more accessible for review. In order to receive Ethereum with Jaxx just make sure you have that currency set up when you first install the program. Then choose the currency on the top bar and you will see your Ethereum address right below. ETHAdress: This is an option for all those who prefer to keep their Ethereum offline and print out paper wallets. ETHAdress is an open source project that will create Ethereum paper wallets for the trader. One more option that’s available is to encrypt your private key so that if you or anyone else wants to use the coins they will need to know the password to decrypt it.

Where to Trade Ethereum Classic CFD’s?

Another way to trade Ethereum Classic is through Contracts for Difference (CFD) such as eToro. Contracts for Difference (CFD) give traders all the benefits of owning a particular stock, index, or commodity position – without having to physically own the underlying instrument itself, enabling clients to trade the change in the price of multiple commodities and equity markets, with leverage and immediate execution.

A customer enters into a contract for a CFD at the quoted price and the difference between that price and the price when the position is closed is settled in cash – hence the name “Contract for Difference” or CFD. Trading Ethereum Classic via eToro CFD’s is much simpler process than buying the coin through one of the exchanges.

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So What is Ethereum Classic?

Ethereum Classic is a decentralized platform that runs smart contracts: applications that run exactly as programmed without any possibility of downtime, censorship, fraud or third-party interference. It is a continuation of the original Ethereum blockchain – the classic version preserving untampered history; free from external interference and subjective tampering of transactions.

Ethereum Classic also provides a value token which is called ‘classic ether’ that can be transferred between participants stored in a cryptocurrency wallet and is used to compensate participant nodes for computations undertaken. The classic ether token is traded on cryptocurrency exchanges under the ticker symbol ETC.

What is the difference between Ethereum and Ethereum Classic?

In common language, both Ethereum and Ethereum Classic are platforms on which various applications can be built.

A smart contract is a contractual state that is stored in the blockchain, and it executes when certain conditions are met. They are controlled and enforced by the blockchain, which serves as an objective and unbiased third party to the transaction.

These smart contracts essentially run the entire ecosystem of Ethereum. Since these contracts are automated and enforced, transactions and applications that run on the Ethereum platform have become very appealing to all sorts of different applications.