Before we get into the nitty-gritty of how to buy Ethereum Classic with your bank account, let’s take a look at the past of this cryptocurrency.
Now to buy Ethereum in the Single Euro Payment Areas (SEPAs) will accept ZAR or EUR once you create a wallet based on the fiat you want your cryptocurrency to convert to.
Buy Ethereum classic in SEPA zone your Bank requires you to:
- Click on the ZAR/EUR wallet’s ‘Fund Now’ button or Coindirect’s ‘Transfer Now’ button.
- Chose the bank you want the funds to be sent to.
- The delay period for the verification of fund transfer is zero(0) to (3) days.
- After the verification is done, click on ‘Buy’ and select the currency you want the crypto to be converted into by clicking on the appropriate wallet from the ZAR/EUR pair.
Buy Ethereum classic outside SEPA zone your Bank requires you to:
There are a number of methods available that include exchanges and different companies, among the most famous, are Coinbase and CoinMama.
Buy Ethereum Classic through CoinMama.
Coin Mama has created different user guides for their consumers based on their choice of payment method through a bank, i.e., a bank transfer, a swift transfer, or a SEPA transfer. The process is easy, create a CoinMama account, verify your account and then place the order through a bank transfer.
You get comparatively better rates since the company has been in business since 2013. And there is a thirty thousand dollars ($30,000) a day limit on both SWIFT and SEPA bank transfers, while a seventy-five hundred dollars ($7500) limit on Credit/Card transfers.
Want to sell ETC?
The Single Euro Payment Area (SEPA) or the South African Zones allow you to convert your cryptocurrency to ZAR or EUR directly.
However, being outside the SEPA zone means that you’ll just have to set up your shop in the marketplace.
But how much can be transacted?
Unverified users get to transact amount in the range between one hundred and seventy-five Euro (€175) to (€500) five hundred Euro with Coindirect. Verified users, on the other hand, get to enjoy a whopping eight hundred and ninety (€890) to one thousand (€1000) Euro range. Might as well get verified on Coindirect.
On the other hand, Coinbase and Coinmama have much higher limits not to mention other such services providers; therefore, going with one of them is a better choice for newbie investors and traders.