How and Where to Buy CETH – An Easy Step by Step Guide | CryptoWallet.com 

How and Where to Buy CETH – An Easy Step by Step Guide

Compound is one of the largest and fastest-growing platforms in crypto, and its Compound Ether (CETH) token is a unique and innovative currency with a stable 1:1 peg to Ethereum. If you are a user of the Compound protocol or just a believer in its continued adoption and growth, the CETH token is one to look at.

In this easy step-by-step guide, we will show you exactly how you can buy and store CETH in no time.

What is CETH?

Compound Ether (CETH) is a reward token issued to users who lend their Ethereum in a Compound pool.  

Compound is a decentralized finance protocol that allows you to lend your crypto in exchange for interest (yields). Each major cryptocurrency that you can lend for interest on Compound has its own pool. A pool is a grouping of all of the combined tokens of that cryptocurrency lent to Compound.

The Ethereum pool is currently the largest pool on the Compound platform. When you lend your ETH to the Ethereum pool on Compound, you receive rewards paid in Compound Ether (CETH). 

CETH is an ERC-20 (standard Ethereum) token. It holds a stable peg to the price of Ethereum meaning that one CETH is worth roughly one ETH. Users are always free to exchange their CETH for ETH on the Ethereum platform.

Step 1: Register on Fiat-to-Crypto Exchange

The first step to purchasing cryptocurrencies like CETH is to register on a fiat-to-crypto exchange. Fiat-to-crypto exchanges will act as your onramp to the crypto universe by allowing you to swap fiat money such as dollars for a cryptocurrency of your choice. Once you own cryptocurrency it will be much easier to swap between different cryptocurrencies with less friction. 

We recommend using CryptoWallet.com as your fiat-to-crypto exchange due to its guided and intuitive sign-up process which is tailored towards beginners. The CryptoWallet.com app is available on both Apple and Android devices and provides a host of other features. In addition to this, CryptoWallet.com provides a unique crypto debit card that allows you to spend your crypto as cash anywhere that accepts debit payments. 

Once you have downloaded the CryptoWallet.com app and completed the quick and easy registration process you may move on to step 2 of this guide.

Step 2: Buy ETH with Fiat Money

Now that you are registered on CryptoWallet.com you are ready to buy your first cryptocurrency which you will later use to trade for CETH. CryptoWallet.com allows you to purchase cryptocurrencies with your debit or credit card, making the process very familiar to online shoppers. CryptoWallet.com currently supports Bitcoin (BTC) Ethereum (ETH), Litecoin (LTC), Ripple (XRP), and Tether (USDT). 

In the case of CETH, we recommend purchasing Ethereum (ETH) to trade for CETH since CETH is currently only available on Ethereum based decentralized exchanges (DEXs). Decentralized exchanges allow you to trade your crypto directly from your wallet without needing to give up custody to a different exchange. 

After purchasing ETH on CryptoWallet.com you are ready to trade that ETH for CETH which we will cover how to do in the next step.

Step 3: Transfer ETH to an Altcoin Exchange

Before you can trade your ETH for CETH you will need to find a decentralized exchange that supports CETH as well as a wallet that supports CETH to send your new cryptocurrency to after the trade. 

As mentioned CETH is currently only supported on Ethereum based decentralized exchanges, and decentralized exchanges allow you to swap your cryptocurrencies directly to your own wallet without relying on a centralized entity. 

Uniswap is one of the most popular decentralized exchanges and likely your best option to swap between ETH and CETH. In terms of wallets, MetaMask is a good option for a wallet that is widely trusted and supports all ERC-20 tokens such as CETH. 

To make your trade on Uniswap you will need to first send your ETH to your MetaMask wallet and then connect your MetaMask wallet to the Uniswap DEX.

Once you have finished executing your trade you will now own CETH which will be available in your MetaMask wallet. Your next step is to consider where you will store CETH for the long term.

Last Step: Store CETH Securely

You have many options to store cryptocurrencies like CETH, but the two primary ways are to use either a software (online) or a hardware (offline) wallet. Each option comes with its own set of tradeoffs that must be considered. 

Software wallets are easy to use and provide you with fast and easy access to your crypto when you need it.

Another option is to keep your CETH in your MetaMask wallet where it is already stored. MetaMask is very convenient and a great option for small to medium amounts of funds. However, the fact that MetaMask stores your keys online means that it may not be the best option for those who are storing large amounts of cryptocurrency over long periods of time. If this is the case you should consider using a hardware wallet such as a Ledger or a Trezor, both of which support ERC-20 tokens like CETH. 

Hardware wallets store your keys offline making them the most secure option for storing crypto. The downside of hardware wallets is that they are an added expense to purchase and that they can be cumbersome for those who want easy access to their crypto regularly. 

You should consider your own circumstances before deciding which of the options highlighted is the best for you.

Other Useful Tools for Trading CETH

Other useful tools for trading CETH include price-feed tools like CoinGecko and CoinMarketCap. Both of which provide you with a real-time price chart and statistics such as current market cap and trading volume.

You May Also Like

If you like CETH you may also be interested in ETH itself since the CETH token is pegged 1:1 to the price of Ethereum. You may also be interested in the Compound token which is the native governance token of the Compound protocol, allowing holders to vote on proposals and potential upgrades. The Compound token is also a more direct bet on the future growth of the Compound platform, as opposed to CETH which is tied to the current price of Ethereum.

Frequently Asked Questions

Now that you know the best ways to purchase and store CETH you may have additional questions which have not yet been covered in this guide.

Can I buy CETH with cash?

Unfortunately, you cannot buy niche cryptocurrencies like CETH directly with cash. However, a cash-like way to purchase CETH is to use your debit or credit card to purchase ETH on CryptoWallet.com, and then trade that ETH for CETH directly on Uniswap.

Are there any quick ways to buy CETH in Europe?

The quickest way for you to buy CETH in Europe is to use the CryptoWallet.com app which will allow you to buy Ethereum (ETH) directly with your debit or credit card. Once you have completed this purchase you can easily swap your ETH for CETH on a decentralized exchange such as Uniswap.

Are there any alternative platforms to buy CETH or Bitcoin with credit cards?

While the combination of CryptoWallet.com and Uniswap is likely the easiest and best option to purchase ETH with a credit card and then swap that ETH for CETH, other options may exist. You should do your own research as to which option is best for you and what the potential trade-offs are for your chosen platform.