🎓
Scallop Learn
  • Guides
    • Welcome to Scallop Learn
    • Crypto
      • Basics
        • Don't Feel the FOMO - Crypto Slangs Explained
        • Blockchain: What is it?
        • What is an Exchange?
        • What are Stablecoins?
        • What is the Metaverse?
        • What are NFTs?
        • History of Bitcoin
        • What is Binance Smart Chain?
        • What is an IDO?
        • What is Staking?
        • Token Burning
        • Debunking Crypto Myths
        • The Crypto Dictionary
        • What is DYOR?
        • What is a Neo-bank?
        • Proof of Work vs Proof of Stake
        • Exploring Crypto Communities: How to Join and Connect with Like-Minded Enthusiasts
        • What is a DAO?
      • Intermediate
        • Scallop Chain Faucet: All you need to know!
        • Layer 2
        • Liquidity Pools
        • ETH 2.0 - The Merge
        • Centralised Exchanges VS Decentralised Exchanges
        • Web 3.0
        • Regulation
        • REIT's on the blockchain
        • The Future of Business Payments: How Crypto Payment Partners are Leading the Way
        • What Is A Crypto Card? How Does It Work?
        • Blockchain and AI
        • Why are regulations essential in Crypto Market? How does Scallop lead the way?
        • Banking on Blockchain
        • E-money Tokens
        • The Power Surge of Cross-Chain Interoperability in Blockchain's Future
        • Crypto Trading 101: Must know candlestick patterns for a successful trade
        • Exploring blockchain innovations and their real-world breakthroughs
        • Do not miss these common indicators of the crypto bull market
        • Decoding the Dynamics of Permissioned Blockchain Consensus Mechanisms
        • Summary
      • Advanced
        • Can Quantum Computers be a potential threat to Crypto?
        • Unlocking the cryptocurrency potential: How Banks can thrive in the digital age?
        • How do privacy-enhancing technologies ensure anonymity on the blockchain?
        • What Does Fintech Mean? Understanding the Intersection of Finance and Technology
          • Decoding Data Tokenisation: Its Vital Role and Relevance
        • Unravelling the Concept of the Time Value of Money: Its Implications and Applications
        • Unlocking the Potential of Real-World Assets
        • What is Byzantine fault tolerance?
        • Global Crypto Adoption and Its Potential Socio-Economic Impact
        • How ZK-Rollups are Supercharging Blockchain Transactions?
    • Security
      • Skimming of Credit and Debit Cards: What You Need to Know
      • How Blockchain Security Can Keep Your Crypto Safe?
      • Keeping Your Account Safe
      • Money muling scams: What are they and how can you avoid them?
      • Beware of these common frauds while using payment cards
    • Tutorials
      • Scallop App
      • Scallop Ramp
    • Markets
      • How are cryptocurrencies taxed across the globe?
      • What Can You Do On An Exchange?
      • Avoid FOMO To Plan A Recovery: 5 Things To Do In A Crypto Bear Market
      • Inflation
      • Meme Coins vs Altcoins
      • The Basics Of Investing
      • The Ripple Effect
      • Central Bank Digital Currencies: A Global Revolution and Impact
    • Know Your Crypto
      • Bitcoin
      • Ethereum
      • Binance Coin
      • Cardano
      • Optimism
      • Ripple
      • Solana
      • USD Coin
      • Polygon
      • Tron
      • Avalanche
      • Tether
    • Defi
      • Defi Introduction
      • Borrowing and Lending: Aave
      • Borrowing and Lending: Compound
      • Tokenisation
      • Defi projects: Terra
      • Wrapped Bitcoin
      • Summary
      • A Practical Guide: The Defi Walkthrough
      • Summary
  • Scallop
    • What is Scallop?
    • Products
      • Scallop Banking
        • Tips And Tricks For Getting The Most Out Of The Scallop App
      • Scallop Exchange
        • Getting started on Scallop Exchange
        • Trading Futures
        • Trading with Margin
        • Buying Ethereum on Scallop Exchange
      • Scallop Chain
        • Tech
          • Scallop Bridge Contracts
          • Configurations
          • Relayers
          • Launch Your Dapp on Scallop
          • Developing and Deploying Contracts​
          • Scallop Explorer​
          • Scallop Faucet​
          • Contract Verification​(Under Development)
          • Contract Security Checks​
          • Scallop Whitelist
        • Scallop Chain: Built on Cosmos and Secured by Biometric Bridge
        • E-Money Tokens and Scallop
      • Scallop Business
    • Getting Started
      • Getting Started: Fiat Onboarding And Exchanges
      • Getting Started: The Defi Walkthrough
      • Getting started: Scallop Exchange
      • Staking
        • Scallop Staking Guide
          • Useful Resources
          • 1. Setting Up Metamask Wallet
          • 2. Importing existing wallet
          • 3. Installing Binance Smart Chain
          • 4. Setting up a Kucoin Account
          • 5. Buying SCLP with a market order on Kucoin
          • 6. Transferring from Kucoin to Metamask
          • 7. Connecting Metamask to the SCLP Staking platform
        • LP Staking Guide
  • Announcements
  • News
    • News: Terra Collapse
    • Terra: Beyond Hope
    • News: Chapter 11 for Celsius
    • News: Nomad Bridge Hack
  • Extras
    • Task Lists
    • Tokenising Real Estate
    • How to Donate Crypto to Ukraine
Powered by GitBook
On this page
  • Summary
  • How to buy ETH
  • Final words
  1. Scallop
  2. Products
  3. Scallop Exchange

Buying Ethereum on Scallop Exchange

A Step by Step Guide

PreviousTrading with MarginNextScallop Chain

Last updated 1 year ago

Summary

  • How to choose a market and buy with a market order on the Scallop exchange

How to buy ETH

Ethereum has taken a lot of the spotlight in recent months, with the success of the Merge, the future is looking bright for the worlds 2nd largest cryptocurrency. So you may think that now is a good time to buy ETH, the token that underpins the Ethereum network.

Ethereum's move to proof of stake has made it a less inflationary asset, and potentially deflationary - long term this limits supply and increases price

Let's go through the step by step guide to buying some Ethereum with USDT on the Scallop exchange.

The Scallop Exchange is available here..

Next go to the trade tab on the top left and select 'Classic'

Now we need to select the right market, so go to the markets dialogue box on the right hand side and type 'Eth', you will see all the relevant ethereum based markets. We will be buing with USDT today, so select ETH/USDT

Make sure you select ETH/USDT and not a similar market like ETHW/USDT!

Now we select the type of order that we want to use to purchase our Ethereum, today we will be using a 'Market order' which goes into the market and buys ethereum at the best available price.

Now once you click 'Buy Eth' the 2000 USDT worth of Ethereum will be bought for you at the best market price and you will find it in your assets tab. And that's it! You have now successfully purchased ETH on the Scallop Exchange.

Final words

Congratulations, we hope you found this guide useful. Our aim at Scallop is to make investment and banking on the chain as easy as possible for every user. Please get involved on our social channels or explore Scallop learn for more guides on how to navigate the world of Defi and Crypto!

If you've not yet got an account with Scallop exchange then see our guideYou will need to deposit either USDT, BTC or USDC to make this purchase.

We will be purchasing Eth with USDT today. For information on how to deposit USDT please check our guide .

here!
here
Scallop Exchange
Step 1: You're going to first need to sign up or sign in!
Step 2 - Select Trade > Classic
Step 3: Select market ETH/USDT
step 4: Select a market order
Step 5: Enter the amount of Eth you would like to buy in USDT and press BUY
Logo