How to Buy Ethereum Classic (ETC): Beginner's Guide and Risks
Ethereum Classic is the "original" Ethereum chain that kept running after the 2016 split. We explain how ETC differs from ETH and how to buy it.
What Is Ethereum Classic?
In 2016, a major Ethereum project called The DAO was hacked and a lot of ether was drained from it. Most of the community decided to "roll back" the hack by changing the network's rules. Those who disagreed stayed on the original chain, which became Ethereum Classic.
ETC's core principle is "code is law": blockchain records are never changed after the fact. Unlike Ethereum, which moved to Proof of Stake, Ethereum Classic is still mined (Proof of Work).
Smart contracts on ETC work much like on Ethereum, but the app ecosystem is far smaller. About the "main" ether: how to buy Ethereum.
Ethereum Classic Risks
- 51% attacks. The network has suffered attacks in the past in which attackers rewrote some blocks. That's why exchanges may require many confirmations for deposits.
- Few apps and developers compared to Ethereum.
- Confusion with ETH. Sending coins to the wrong network can result in losing them.
- High volatility and dependence on overall market sentiment.
Step by Step: Buying ETC on an Exchange
1. Open an account on a major exchange and check that it lists the ETC/USDT pair. Full guide: how to open a crypto exchange account.
2. Complete KYC and turn on two-factor authentication.
3. Fund your account with USDT, via P2P or with a card. Here's how to fund your account via P2P.
4. Buy ETC on the spot market with a limit order so you don't overpay during a sharp price move. More on this: limit vs. market orders.
5. When trading, a stop-loss is mandatory: it limits your loss in advance. How to choose the levels: take-profit and stop-loss. Aspiro Trade sends signals on 45 assets, each with an entry, a target and a stop-loss; check the app for the current list of instruments.
6. For storage, withdraw ETC to a wallet that specifically supports the Ethereum Classic network. The addresses look like Ethereum addresses, so be especially careful choosing the network when withdrawing.
ETC: on an Exchange or in Your Own Wallet
| Exchange | Your own wallet | |
|---|---|---|
| Who controls the keys | The exchange | You |
| How fast you can sell | Instantly | You first transfer to an exchange |
| What can go wrong | Account hack, freeze, problems at the exchange itself | Lost seed phrase, transfer to the wrong network |
| What you need | An account with 2FA | Wallet that supports Ethereum Classic |
Our affiliate link. If you decide to open an OKX account, please sign up through it: it's free for you and doesn't change your terms. If you trade, the exchange pays Aspiro an affiliate bonus, which goes toward developing our apps and the free Aspiro Academy. We have no access to your account, funds or trades.
- First understand what ETC does, then buy.
- The flow is simple: exchange → USDT → limit order.
- Set your stop-loss before you enter, not after.
Frequently Asked Questions
Are ETC and ETH the same thing?
No. They are two different networks with a shared history up to 2016. They have different coins, different rules and different prices.
Why do ETC deposits to an exchange take so long?
Because of past attacks on the network, exchanges wait for more confirmations before crediting the coins.
Can I mine Ethereum Classic?
Yes, ETC is still a Proof of Work network. But for a beginner, buying the coin on an exchange is simpler than investing in equipment.
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