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How to buy ETH in South Korea

South Korea
Ethereum

Ethereum is a popular cryptocurrency that was created afterward bitcoin. Ether has similarities with its predecessor, which lie in the very idea of digital money, as well as in the instability of the exchange rate, which is constantly growing. If BTC is just a cryptocurrency, then ETH is a platform for performing various actions, created not only for storage and exchange, but also for depositing, lending, signing contracts using a smart contract system.

The economy of South Korea works quite closely with the cryptocurrency. In South Korea there is a national digital currency, the digital won (CBDC), which was tested until January 2022. In this currency benefits were paid during the coronavirus. From the legal side South Korea repeats the experience of Europe: there is an income tax on actions with cryptocurrency in the country. It is known that by 2023 the government is going to introduce a Basic law on digital assets, so the usage of cryptocurrencies will be maximised.

The convenient Itez service will allow you to buy Ethereum in South Korea from a common bank card. You can pay for the purchase with a South Korean won. The purchase will be quick and safe. Instructions next.

How to buy Ethereum on Itez:
step-by-step instruction
1.

In order to buy Ethereum, it is not necessary to register on the Itez website. In a handy calculator, you can quickly calculate the cost of ETH based on the amount you plan to use for payment. The smallest purchase amount in dollar terms is 50 USD. By the way, the same applies to the euro - the starting purchase threshold starts at €50. Well, in our instructions, as promised, we will go through all the stages of purchase ETH for dollars step by step.

2.

After converting the currency to ETH, you will see the final result in the "You Get" field and on the "Buy" button. Click the button and enter your email address in the following window.

3.

Confirm your email with a 6-digit code sent to the previously indicated e-mail and click the "Verify" button.

4.

Specify the purchase amount in the Itez dialog box. Copy the recipient address - your Ethereum wallet - from the “Accept” section.

Important: you should not manually copy the Ethereum wallet address. The blockchain system does not give any information about Ethereum addresses problems, and if an error occurs during manual entry, all the buyer's funds may be lost.

For example, this is how the copy address button looks like in the Exodus wallet:

5.

After copying the Ethereum wallet address, paste it into the dialog box.

Check your data — it is important to make sure that the address is entered correctly.

6.

After pushing the “Card details” button, enter the required card information: card number and expiration date, the cardholder name and CVC-code — three numbers on the back of the card.

7.

Push the “Pay” button and enter the one-time bank code in the following window. 

After making a payment on the Itez website, you will immediately be able to see the Ethereum in your wallet.

8.

The transaction will first wait for confirmations from the blockchain network.

In the Etherium network, confirmation is quite fast and in most cases takes no more than a minute.

Banks

South Korea is rightfully one of the most developed and digitalised countries in the world. Mostly it depends on its stable banking system. A specific feature of the functioning of this system is a fairly high level of government influence in it. South Korea seems to be a good example of combining a strict hierarchy of financial organisations and clear control over the banking sector with the modern development of this area.

The ratings of the most popular banks in South Korea usually include Shinhan Financial Group (SHG), KB Financial Group, Hana Financial Group, NongHyup, Woori Financial Group, Korea Development Bank (KDB), Industrial Bank of Korea, DGB Financial Group, BNK Financial Group, Kakao Bank.

Bank cards

We accept debit and credit cards from all the banks listed above. We work with Visa, Mastercard, Maestro, American Express, it is also possible to pay for a purchase using Google Pay, Apple Pay, Samsung Pay.

How to store Ethereum

When buying Ethereum cryptocurrency for the first time, anyone has an obvious question about how to store it. The answer is simple: with the help of a crypto wallet. There are three types of crypto wallets for storing Ether: hardware, desktop and online. Anyway, when registering in each type of wallet, you need to come up with a strong password and to activate two-step authentication, as well as to write down and hide in a safe place a seed phrase that will help to restore the password in case of loss of access. You can get acquainted with the list of crypto wallets for storing ether here: ethereum.org/wallets.

Itez
About Itez:

Itez is an instant ethereum purchase resource. Itez is a certified operator holding a license to sell and store cryptocurrencies of a financial regulator from Estonia. What does this give to customers?

First of all it is safety, since the operator is fully responsible for the risks. He conducts a compliance check, provides cryptocurrency on time and is always in touch with customers, if the need arises. Secondly, it`s efficient. The time of receipt of Ethereum to the client's account is no more than a minute). Thirdly, the service offers to customers a favorable exchange rate. Rate changes occur in accordance with the liquidity provider's information, therefore, the ETH value on the Itez website is as close as possible to the market value. The site has no hidden fees as the final ETH, USDT value is displayed instantly. If the purchase price does not exceed € 300, then the buyer does not need verification.

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