What are Ethereum and ETH?
Ethereum is a decentralised blockchain network and software development platform. Ether (ETH) is Ethereum's native cryptocurrency.
ETH is used to pay transaction fees, also known as gas fees, whenever people use the Ethereum network or the apps built on it. Validators also put up ETH as collateral when they help process transactions. Put simply, ETH is more than a payment asset: it helps run a programmable network for smart contracts, which are programs that run on a blockchain, as well as decentralised apps.
How to invest in Ethereum in Singapore
In the Crypto.com App, the basic flow is:
- Sign up and complete identity verification.
- Add funds to your account.
- Go to the trading screen, select Ethereum and complete your purchase.
Trading is subject to account verification and eligibility. Before you confirm, do check the amount and payment method.
Which payment methods can you use for Ethereum?
You can fund your account and buy Ethereum in the Crypto.com App using FAST bank transfer in SGD, Swift transfer in USD, debit card, Apple Pay, Google Pay or crypto deposited from another wallet. FAST and Swift deposits are free on Crypto.com.
If you deposit crypto from another wallet, use the deposit details shown in the App and make sure the asset is supported. Depositing an unsupported token may result in loss, and crypto transactions are irreversible.
What is the minimum needed to invest in Ethereum?
The minimum amount required to invest in Ethereum on Crypto.com depends on your payment method: SGD 1 for direct purchases with Apple Pay or Google Pay, SGD 20 by card and SGD 50 by FAST bank transfer. This lets you buy a fraction of ETH rather than a whole ETH.
A smaller starting amount does not remove market risk. Crypto prices can be volatile, so do consider your risk appetite before deciding whether to trade.