In the past when cryptocurrency was introduced, many people doubted it. Now people have realized the enormous potential that the digital currency industry has and many are willing to try it. Now we have several platforms where you can buy or sell cryptocurrency using the various methods of payment.
One of the payment methods that can be used is hard cash. In the past, the cash option was not available, but now you can buy any crypto including Ethereum (ETH) with cash. Many people who have been in the cryptocurrency trading scene are now opting for cash because of the benefits associated with it.
With cash, the whole process is simple, and at the same time, it entails a great deal of privacy. You can buy your ETH with cash in a very easy way and consequently save time money. At the same time, there is no need to worry about the rules and regulations involved that can be annoying sometimes.
How ETH Can Be Bought with Cash
As stated earlier, there several payments options that can be used to buy ETH. Cash is increasingly becoming one of the most preferred options as it does not entail many formalities. You can buy ETH in cash using either peer-to-peer (P2P) exchanges or ETH ATMs.
P2P exchanges are virtual trading platforms for those who own ETH. They can be compared to eBay with the only difference or rather advantage being that it less formal and very simple. Platforms like Nakitcoins also allow you to buy and sell crypto for cash.
Buying ETH with Cash Using P2P Exchanges
One of the most popular peer-to-peer sites is LocalEthereum. Here you can buy ETH with cash as the site is a safe exchange platform. The only problem you can face is the trustworthiness of the individual that you are dealing with. However, you can check the profile of the person and reviews from previous users to ascertain if the person can be trusted.
P2P sites allow you to exchange texts with the seller and from there you can go ahead and meet. You are however advised to arrange the meeting in public places for security purposes because you are dealing with hard cash as well as anonymous people.
The moment you establish that you are dealing with a legitimate seller, then you can make arrangements on how you can do business with them in the future.
How to Buy ETH with Cash Using ATMs
One of the safest platforms where you can buy crypto with cash is using ATMs. The use of ATMs comes with an additional element of privacy. You can walk into the nearest local ATM and buy your ETH. You can use sites like coinatmradar.com to find the nearest ATM.
First, before you use the ATM, you have to obtain an ETH wallet. You can then locate the ATM closest to you and then place an order. Just follow the simple instructions displayed on the screen after selecting ETH as the cryptocurrency form you want to buy.
You will have to scan the QR code on your wallet using the ATM’s camera and then proceed to deposit cash. The transaction will be confirmed, and once it is done, ETH will be deposited into your wallet.
Buying ETH or any form of cryptocurrency using cash is one of the simplest methods. If you want to keep your personal details private, then this is the way to go. Watch out for more guides on cryptocurrency trading in the near future.
Ethereum Completes Istanbul Hard Fork, but Buyers Aren’t Too Excited
Ethereum’s price action has been closely correlated to Bitcoin’s over the past several weeks, leading ETH’s price to dip into the lower-$150 region, which is where it has been able to find some levels of support.
Ethereum’s much-anticipated Istanbul hard fork has come about concurrently with ETH’s ongoing downtrend, and it appears that investors are not too enthused with this latest development, as sellers remain firmly in control of the cryptocurrency.
Ethereum Struggles to Gain Upwards Momentum Despite Istanbul Hard Fork
At the time of writing, Ethereum is trading up over 1% at its current price of $151, which marks a slight climb from its recent lows of $146 that were visited on multiple occasions over the past week.
It is important to note that Ethereum did face some resistance at $152, which appears to be a strong level of resistance for the cryptocurrency. It is important to note that ETH has incurred some upwards momentum today as Bitcoin begins moving towards its near-term resistance level at $8,000.
Ethereum has been caught within a firm bout of sideways trading ever since it faced a massive drop to lows of $135 in late-November, which appears to be an incredibly strong support level for the cryptocurrency.
One event that some investors had been looking towards as a potential bullish catalyst is Ethereum’s Istanbul hard fork, which was successfully implemented today.
Teddy, a popular cryptocurrency analyst on Twitter, spoke about this much delayed hard fork in a recent tweet, saying:
“After 950 delays #Ethereum finally completed its hard fork – Istanbul,” he noted.
Will Strong Multi-Year Resistance Force ETH Lower?
It is important to note that Ethereum has been stuck beneath one strong descending resistance level for two years, and it has shown few signs of having enough strength to break above this level.
Teddy also spoke about this resistance in a tweet, noting that it spells trouble for the future price action of the cryptocurrency.
“#ETHEREUM | $ETH: Unless Istanbul, the latest hard fork can generate a new wave of interest – this bad boy: – is hitting lower support levels and thus cover those gaps burning my eyes – look at that 2 year long resistance, NOT a scratch,” he said while pointing to the chart seen below.
Although Istanbul is unlikely to have any sway on Ethereum’s near-term price action, it is highly probable that ETH will only break above its strong resistance if Bitcoin gains some notable upwards momentum.
Ethereum 2.0 gets a Sapphire Testnet explorer on Etherscan
Etherscan and Prysmatic Labs have released their Beacon Chain Ethereum 2.0 Testnet explorer. According to the company’s announcement, the explorer will allow users to view the Sapphire Testnet, a public network developed by Prystmatic Labs that implements the Ethereum 2.0 Phase 0 protocol.
New testnet explorer means Ethereum 2.0 could see the light of day
After the Ethereum community suffered a loss of faith due to the slow development process of the network’s second iteration, it seems that Ethereum 2.0 could see the light of day earlier than expected.
Earlier in October, during the annual Devcon conference, Vitalik Buterin, the co-founder of Ethereum, said that Ethreum’s layer two solutions are proceeding “slower than expected,” despite nine teams working on the upcoming blockchain.
The lack of optimism regarding the project was partly caused by comments made by Ethereum Foundation developer Jamie Pitts. While speaking at a panel, Pitts said that there was a clear lack of strategy and coordination among teams that could cause delays with the project.
However, recent developments showed that Ethereum 2.0 is still very much alive. On Dec. 5, Etherscan, one of the most popular blockchain explorers for the Ethereum network, announced that it has released an explorer for Ethereum’s new testnet.
The Beacon Chain Ethereum 2.0 Testnet explorer will be running on Prysmatic Labs’ Eth 2.0 node implementation called Prysm. The Sapphire testnet created by the company implements the Ethereum 2.0 Phase 0 protocol.
Blockchain explorer makes testnet participation accessible to everyone
Prysmatic labs said that the proof-of-stake blockchain will enable anyone holding ETH on the Goerli testnet to join and participate. The launch of the Sapphire Testnet in July followed the launch of the Nimbus and Lighthouse testnets in March and April.
The company said that those who join the testnet will act as validators and be able to participate in proposing and voting on blocks in the protocol. Network participant’s behavior will be subjected to rewards and penalties in order to facilitate a natural environment on the testnet.
Prysmatic Labs allows anyone to participate in the network, saying:
“TO PARTICIPATE IN THE NETWORK, ANYONE CAN SEND 3.2 ETH FROM THE GOERLI ETH1.0 TESTNET INTO A VALIDATOR DEPOSIT CONTRACT, WHICH WILL QUEUE IN THE USER AS A VALIDATOR IN THE SYSTEM.”
According to the Beacon Chain testnet explorer, there are 517 active and 213 inactive validators on the network at press time. Validators that remain dormant for a particular period are set to have their stake removed from the testnet, but the explorer shows that none of the stakers have been penalized yet.
Around 940 out of the 1,650 eligible ETH has been voted, the explorer showed.
Ethereum Forecast and Analysis December 9 — 13, 2019
Ethereum ETH/USD closes the trading week at 145.38 and continues to move as part of the fall and the bearish channel. Moving averages indicate a bearish trend for ETH/USD. At the moment, we should expect an attempt to continue to decline and test the support level near the area of 125.05. Where again we should expect a rebound and continued growth of the Ethereum rate with a potential target above the level of 295.05.
Ethereum Forecast and Analysis December 9 — 13, 2019
An additional signal in favor of raising the ETH/USD quotes for the current trading week December 9 — 13, 2019 will be a test of the rising support line on the relative strength index (RSI). The second signal will be a rebound from the lower boundary of the downward channel. The cancellation of the growth option will be a fall and a breakdown of the level of 85.05. This will indicate a breakdown of the support area and a continued fall of ETH/USD with a potential target below 60.55. A confirmation of the growth of the Ethereum cryptocurrency will be a breakdown of the upper border of the downward channel and closing quotes above the level of 195.05.
Ethereum Forecast and Analysis December 9 — 13, 2019 suggests an attempt to test the support area near the level of 125.05. Where can we expect a rebound and continued growth of the cryptocurrency in the region below the level of 295.05. An additional signal in favor of the rise in the Ethereum course will be a test of the support line on the relative strength index (RSI). Cancellation of the growth option will be a fall and a breakdown of the area of 85.05. In this case, we should expect continued decline with the target below 60.55.