Purchase Ethereum

We will use Coinbase Exchange in this example to demonstrate how to purchase Ethereum using an exchange account.

1. Select payment method

You need to select a payment method for how you will purchase Ethereum. Coinbase provides several options which you will find here. They vary on speed and dollar limits. The fastest options are PayPal, debit card, and Apple/Google Pay. Those purchases will immediately be ready to move to a wallet. If you are brand new to Coinbase, dollar limits for the “faster” methods will be very low.

For example, they may be $100-$1000 per day max that can be transferred in from your payment source. Those limits usually increase over time as you make more purchases and trades. More details on how to raise your limits are here.

The slower options are Wire Transfers or Bank Transfers which allow much higher dollar limits but may take longer for your fiat (traditional dollars) to be added to your Coinbase Exchange account, or a hold could be put on the Ethereum you buy before you can use it to trade for Apollo.

In general Wire Transfers take about a day, but require you to contact your bank, but once it's in you can usually trade freely. Bank Transfers are faster, but any Ethereum you buy will be put on hold usually for a few days before you can trade it for Apollo.

Admittedly this is one of the more frustrating things in crypto and why we usually suggest people plan ahead and get their fiat into an exchange of their choice well before they decide what to do with it.

2. Purchase Ethereum

Now you can purchase Ethereum. Go to the “Trade” tab and click on Ethereum. On the right side of the screen, you should see the fields to “Buy” Ethereum. Enter the dollar amount and the payment method. This tells Coinbase how much of the fiat you moved into Coinbase that you want to use to purchase Ethereum.

Tapping “Preview Buy” will show you a dialogue box where you can confirm the purchase.

Tap "Buy Now".

Congratulations you now own Ethereum (the cryptocurrency that Apollo is based on and that you can use to purchase Apollo).

Last updated