The 5 Best Ways To Buy Ethereum (ETH) Now
In this article, Trading Education will share their top 5 best ways to buy Ethereum (ETH) in 2021, their pros and cons, and the specifications to look out for before settling on one of them.
As of June 2021, there are more than 300 million cryptocurrency users. At least 3.9% of residents in every country are cryptocurrency holders. More importantly, more than 18,000 businesses globally accept some form of digital currencies as payment for their goods and services.
If you are new to the cryptocurrency space and did not believe that thousands let alone millions of people use digital currencies, the statistics presented close your argument. After all, they were sourced from reputable portals such as Yahoo Finance, Statista, and Binance Research.
In May 2020, there were more than 430 million monthly active users of Ethereum. This number is poised to increase at the close of 2021 when the statistic is updated. It is therefore understandable that the novel token of Ethereum, Ether, continues to be involved in many transactions. Specifically, from Friday, 3rd September to Friday, 10th September 2021, ETH was involved in a 7-Day average of 1.15 million transactions. Its 24hour volume transacted stood at $10.27 billion.
This signals that Ether is one of the most traded and invested cryptocurrencies globally. This has led to numerous questions trending on the internet. The most popular among them are, where to buy Ethereum (ETH), and how to buy Ethereum (ETH)?
By reading this article, you will find the best way to buy Ethereum. The article will provide an insight on the different ways to buy Ether that will help you decide the exchange of your preference.
So read on, take action, learn how to buy Ethereum, and be a part of the millions of people who continue to earn passive income from digital asset investments.
TABLE OF CONTENTS:
- Our Favorite Exchanges to Buy Ethereum (ETH)
- Introduction to the Crypto World of Ethereum
- Finding the Right Site for Your Needs
- Payment Methods Compared
- The Cheapest Place to Buy Ethereum
- The Safest Way to Buy Ethereum
- The Easiest Way to Buy Ethereum
- The Fastest Way to Buy Ethereum
- How Do I Buy Ethereum Near Me?
- Best Ways to Buy Ethereum Anonymously
- Best Ways to Buy Ethereum with PayPal
- Best Place to Buy Ethereum with a Credit/Debit Card
- Best Place to Buy Ethereum with Your Bank Account
- How to Buy More Cryptocurrencies or Altcoins
Our Favorite Exchanges to Buy Ethereum (ETH)
Each of the experts at Trading Education has spent at least 5 years in the digital currency and decentralized finance space. Throughout those years, we have experienced countless issues with security, customer service, and liquidity.
Because learning can become effective when you make mistakes and correct them, we have conducted in-depth reviews of reputable cryptocurrency exchanges that we consider as the best places to buy Ethereum (ETH).
The winners from our review are eToro, Binance, Coinbase, Huobi Global, and other notable exchanges that are worth mentioning.
Established in 2006, eToro is a multi-asset exchange platform that offers users the chance to choose from more than 60 cryptocurrencies. The exchange supports more than 100 countries and has more than 17 million active users. Ether (ETH) is among the earliest cryptocurrencies listed on eToro. What makes eToro great and why should I use eToro to purchase Ether.
Pros of Buying Ethereum (ETH) with eToro:
✅ Regulation: eToro is one of the well-regulated cryptocurrency exchanges globally. To prove its authenticity, legitimacy, and realness, the company has offices in the United States, the United Kingdom, Australia, Cyprus, and Israel.
✅ Ease of use: eToro is present on personal computers (website) and mobile applications on both iOS and Android. Its design makes it easy to navigate and execute trades.
✅ Payment Deposits: eToro accepts credit/debit cards, bank transfers, and online financial service wallets such as PayPal, Skrill, etc.
✅ Community: eToro is home to some of the best traders in the money markets. eToro provides a feature called copy trading and this helps users copy the trades of experts and make enormous gains.
✅ Liquidity: eToro sees billions of dollars transacted on its exchange daily.
❌ The supported States and Countries: Turkey, Japan, Canada, Hawaii, Guam, American Samoa, and the US Virgin Islands, (not supported), and residents of states such as Delaware, Minnesota, Nevada, and Tennessee cannot enjoy the full features of eToro.
Founded in 2012, Coinbase is one of the best-centralized cryptocurrency exchanges to buy Ether from. Coinbase supports more than 100 countries and by the end of 2021 will have cumulative verified user statistics of 72,800,000 (72.8 million). Coinbase is one of the largest exchanges by daily volume. Because of the legitimacy of the Ethereum project and the visibility and accessibility of its founder Vitalik Buterin, Ether (ETH) is one of the digital tokens that Coinbase prioritized because of the liquidity it could bring to the exchange.
✅ Regulation: Coinbase is regulated independently across states in the US
✅ Liquidity: Coinbase recorded a quarterly volume (April to June 2021) of $462 billion and assets on the platform are worth $180 billion. There are no liquidity problems on the exchange.
✅ Minimum Trade: Coinbase allows users to execute trades with as low as $2.
✅ Ease of Use: Coinbase offers a state-of-the-art online infrastructure that makes it easy for beginners to experiment with digital investments. Its mobile applications on Android and iOS are rated highly by users.
✅ Payment Methods: Coinbase offers a range of payment methods to suit your needs. PayPal, Wire Transfer, Debit, and Cards can be used to deposit fiat.
✅ Staking: You can stake ETH on Coinbase and earn up to 5% on the amount of Ether staked.
✅ Community: When you use Coinbase, you join millions of people who use the exchange to trade or invest in cryptocurrencies. This is because Coinbase is best suited for cryptocurrency traders.
❌ Customer Service: Coinbase is not easy to reach by telephone.
❌ Privacy Concerns: Coinbase is a highly regulated platform therefore they will make available details of your account to authorities periodically due to compliance methods.
❌ Private Keys: You can create passwords for your accounts but passcodes to your Ether tokens will be held by Coinbase.
❌ Payment Method Concerns: Your debit card may not go through for deposits if you aren’t in supported countries for debit card deposits.
Check Out: Coinbase vs eToro: Which is Better?
Binance was founded by Chanpeng Zhao, one of the most vibrant voices in the crypto finance space. With an active user base of more than 13 million from a total of close to 100 million, Binance provides a platform that is one of the best ways to buy Ethereum (ETH) in more than 180 countries.
✅ Regulation: Binance has the necessary certifications in countries such as the United States, Malta, and others.
✅ Liquidity: Binance is the largest cryptocurrency exchange by trading volume. It continues to average $20 billion daily.
✅ Security: Binance offers multi-tier & multi-cluster system architecture that secures your account.
✅ Payment Methods: In satisfying all of its customers, Binance accepts deposits via credit/debit card and bank transfer.
✅ Community: Because of the extensive involvement of Binance in the whole space, buying Ether (ETH) through its exchange exposes you to keen research on cryptocurrencies, as well as experts across DeFi and blockchain technology.
✅ Ease of Use: Binance offers one the best interfaces for a trading platform. Its technology sees it process millions of transactions per second. Users can find Binance exchange on the internet through their personal computers or on mobile applications.
✅ Cryptocurrency Support: Binance lists more than 150 cryptocurrencies.
❌ Payment Method Limitations: Unlike other exchanges, Binance does not allow online financial services such as PayPal, Skrill, Neteller and the rest to be used for deposits.
❌ Minimum Deposit Issues: Minimum requirements for fiat deposits are normally high.
❌ Controversies in the Space: Binance continues to be mired by regulatory problems across several countries.
❌ Payment Deposit Fees: There is a 1.8% deposit fee for traders from certain countries.
4. Huobi Global
Huobi Global was founded in 2013 by Leon Li. Based in Singapore; it is one of the most used cryptocurrency exchanges worldwide. The exchange supports more than 170 countries and has a user base of more than 10 million. What makes Huobi Global special and why should I use it to buy Ethereum (ETH)?
✅ Reputation: Huobi Global is licensed to operate. To prove its authenticity and legitimacy, it has offices in Korea, Hong Kong, Mainland China, Japan, and the United States.
✅ Liquidity: Huobi Global is one of the largest exchanges in the space in terms of volume. The exchange averages $5 billion as trading volume every day.
✅ Cryptocurrency Support: Huobi Global supports 230 different cryptocurrencies.
✅ Ease of Use: It has designed a sophisticated yet user-friendly dashboard and platform. Huobi Global can be accessed in 3 ways. It is available on web browsers, Android, and iOS.
✅ Security: Despite attempts of hacking on several regulated platforms, Huobi Global has so far remained secure over its 8 years in operation.
✅ Transaction Fees: Huobi Global has one of the lowest transaction fees in the exchange space.
❌ Payment Methods: Only accept cryptocurrencies as deposit methods. Fiat deposits are not accepted. As a result, you cannot withdraw funds via fiat.
❌ Registration Difficulties: For beginners, the registration process is a bit complex. This has led to some people finding difficulties with the process and labeling it as lengthy.
5. Honorable Mentions
If you are looking for more ways to buy Ethererum (ETH), these are also good options:
Bitfinex, Gemini, Kraken, Bitstamp, Coinmama, Bittrex, and Bisq.
Introduction to the Crypto World of Ethereum
Because of the newness of the space, it is extremely easy to get lost because of the numerous terminologies (blockchain, exchanges, and cryptocurrencies). You may want to jump into Ether (ETH) investing but it would be in your interest to gain some insights into the space before starting.
- In 2021, there are 11,814 crypto coins in the market. This should tell you that not all cryptocurrencies are called Ether (ETH), Bitcoin (BTC), or Dogecoin (DOGE). Ether is the second popular and second-largest digital asset by market capitalization. Its popularity soared thanks to its use in settling transactions involving decentralized applications on the Ethereum Network.
- Ether (ETH) is a successful digital currency because it has the attribute of divisibility. This means that it can be divided into smaller units. Ether divisibility transcends other forms of currency such as fiat (United States dollar). Ether can be divided into 8:1.00000000. To give you a practical example, let us consider this. When ETH was trading for a coin at $3,210, buying $200 could give you 0.06229660 ETH.
- Ethereum is built on blockchain technology. This helps in the facilitation of transactions between two people using the internet without help from a centralized institution while maintaining security.
- Exchanges like eToro and Binance, are trading platforms that allow you to exchange your money for digital coins.
- Wallets are software that provides access to the Ethereum blockchain. They play an instrumental role in transferring funds as well as storing Ether tokens in a safe and secure environment. Examples include Atomic Wallet, Trust Wallet, and MetaMask.
When you come into the cryptocurrency space, it is extremely difficult to understand everything. As you go along, you will learn more as you attain all the essential steps on how to buy Ethereum (ETH). First, one of the questions you should prioritize finding answers to is, where can I buy Ether (ETH)?
With time, you will get to know the best places to buy Ether (ETH) are dependent on several factors such as where you reside and your individual preferences.
Check Out: Is Ethereum a Good Investment Right Now?
Finding the Right Site for Your Needs
There are more than 400 exchanges in the market. Although exchanges have a function of executing transactions, they differ in features. Before Trading Education reveals how to invest in Ether based on your preferences, you must know what you want in an exchange. Let us take a look at the essential features you must consider before investing in Ethereum (ETH).
Do you want an exchange that allows you to remain anonymous or an exchange that will confirm your identity? Centralized cryptocurrency exchanges normally require their users to go through an extensive verification process. This helps the exchange comply with Knowing Your Customer (KYC) so that they can adhere to Anti-Money Laundering (AML) regulations.
Exchanges vary in the dispensation of their fees. There are depositing fees and trading (commission fees). You should go through exchanges and get to know the right platform that meets your budget. This is because if you are searching for the cheapest way to buy Ether (ETH) versus the fastest way to buy Ether (ETH), then fees will surely come up.
3. Ease of Use
Some exchanges are complex while others are easy to use. One of the best ways to measure ease of use is to read reviews about the simplicity of the exchanges’ platform on the website, and mobile applications running on iOS and Android. Throughout the reviews, you will know about the customer service, fees, and duration of the verification process, among others.
4. Payment Methods
One of the fastest ways of buying Ether is with debit and credit cards. Aside from this, there is good old bank account transfer, physical cash, and online payment systems such as PayPal and Skrill.
5. Regulatory Compliance
This is one of the most vital factors you should consider before choosing an exchange. Going with exchanges that comply with regulations is a smart move. Once an exchange asks you for identification documents, you should know that their representatives are trying to prioritize the safety and security of your account.
You cannot joke with the safety of your holdings. As exchanges do everything in their capacity to guarantee your safety, hackers find new and improved ways to also get into your accounts.
Therefore, you cannot trust the use of just a password. Ensure that the exchange of your choice offers two-factor authentications (2FA). This means that you have to prove in at least two ways that you are the holder of the account. A pin code or private keys normally follow your password (take note).
There have been several instances where a person made a deposit and within minutes decides to withdraw their funds for other purposes. A withdrawal attempt then leads to prompts of limitations. Such prompts ask the user to verify their account before they can withdraw their funds. Understand how an exchange works before uploading funds.
Exchanges that see large volumes execute orders in a fast manner. Withdrawals are processed within minutes. Exchanges that see low volumes are slow in executing orders. Aside from that, due to lack of liquidity, withdrawals can take hours to days to process. You should patronize exchanges with large volumes such as eToro, Binance, Huobi Global, Kraken, FTX, and OKEX, among others.
This is normally linked with liquidity. Depending on the amount of money being poured onto exchanges, transactions happen as per the price ordered by the user. This is because millions of active users would respond to a buy or sell order within seconds. Use exchanges without cases of slippages.
It will be best if you find an exchange that has operated for years without incident. Unlike 20 years back, it is easy to find information about trading platforms. Using online search engines, read good and bad reviews about an exchange. This will help you stay ahead of the game and not risk your hard-earned money on a platform that could compromise the security of your valuable Ether (ETH) holdings.
11. Customer Service
Will you want to send an important message to representatives of an exchange and wait for a week without a response? I don’t think so. Based on your location and a language you understand, find an exchange that can respond to you promptly when wondering where to buy Ether tokens.
You do not want to download a mobile application that takes up a huge space on your phone. And after that, you realize your country is not supported. Find an exchange that lists your country for trade. This will prove beneficial should you want to pursue a legal case against them.
Don't Miss: Is Now the Right Time to Buy Ethereum?
Payment Methods Compared
Investing in Ether (ETH) using your credit card is easy and fast. You should know that due to card limitations and fraud, you cannot buy large quantities of Ether tokens with your card.
If you want to remain anonymous, this is the way to buy Ether. Using cash on Ether ATMs can be relatively easy and quick. Using your local coin ATM, you can buy an amount of Ether tokens allowed.
Online Financial Services Wallet
These are wallets provided by online payment platforms such as PayPal and Skrill among others. To buy, you must upload funds on your account to your exchange account. eToro and most exchanges charge no fees on deposits.
Although this payment method is a bit slow, it is one of the most secure ways to deposit funds at relatively lower fees.
The Cheapest Place to Buy Ethereum
eToro is the cheapest place to buy Ethereum (ETH) on our list. You can deposit funds at 0% fees across a range of payment options and you are good to go. Aside from being the cheapest place to buy Ether (ETH), you can also trade cryptocurrencies with a 0% commission.
Aside from eToro, a cryptocurrency exchange such as Huobi Global and online payment wallets such as Skrill and PayPal are some of the cheapest places to buy Ethereum. Their transaction costs are relatively lower when compared to other exchanges.
The Safest Way to Buy Ethereum
Centralized Exchanges such as (eToro, Binance, Coinbase, and Kraken) and Wallets (Skrill and PayPal) are the safest ways to buy Ethereum (ETH). The primary reason why they are safe is due to their upholding the Knowing Your Customer (KYC) phase.
On the platforms of the aforementioned names, there is a 99% chance that requests will be presented to you to provide a government-issued identification card for verification.
What’s more, you would be asked to verify your proof of residence. This will help prevent discrepancies in the residential address provided on your account and the billing address associated with your bank card (credit or debit) used for deposits.
Aside from these factors, these platforms adhere to two-factor authentication (2FA). This secures your account and makes it difficult for someone with a single knowledge of the details of your account to compromise it.
The Easiest Way to Buy Ethereum
The easiest way to buy Ethereum (ETH) is eToro or Coinbase.
Depending on how cooperative you are as a customer with the uploading of the essential documents for the KYC process, registration could be completed within a few hours. eToro’s registration process is relatively faster than others. In some instances, you can even be allowed to trade when waiting for your account to be fully verified.
In addition to eToro, some of the easiest ways to buy Ethereum (ETH) are through Coinbase, Kraken, and Binance. These exchanges not only provide an easy way to buy Ether but also allow you to stake your ETH tokens for percentage yields.
The Fastest Way to Buy Ethereum
What is the fastest way to buy Ethereum? Exchanges with high functioning websites and easy-to-use mobile applications that accept payments via debit and credit cards are the fastest ways to buy Ethereum (ETH).
You can buy ETH quickly on eToro, Huobi/Huobi Global, Binance, and Coinbase since they have state-of-the-art platforms across websites and mobile applications on iOS and Android.
If you have a verified account on PayPal and Skrill, you’d realize that one of the benefits is the online financial services companies providing you platforms that are some of the fastest ways to buy Ethereum. On your crypto dashboard, it would take you less than 10 seconds to buy Ether tokens.
How Do I Buy Ethereum Near Me?
Ethereum ATMs have started appearing across some cities and countries globally. Since Ethereum ATMs are one of the easiest and fastest ways to buy Ether, you can find them at various online addresses (PayDepot, Local Coin ATM, and Coin ATM Radar).
You must note that some Ethereum ATMs do require an identification card (ID) for verification. There is a variation in this depending on the state as in the case of residents of the United States and the local laws of other countries. Just because you want to own Ether doesn’t mean you should make rash decisions. Please, read the guide on Ethereum ATMs before buying Ether tokens.
Best Ways to Buy Ethereum Anonymously
These days, the best ways to buy Ethereum anonymously are dwindling. This is due to the wide crackdown on the whole cryptocurrency space due to issues of hacking and digital coins being used in anti-money laundering activities.
One of the best ways to buy Ethereum anonymously is by using an Ethereum ATM that does not require any ID card for verification.
The other best way to buy Ether (ETH) anonymously is through the largest decentralized exchange, Uniswap. You do not have to go through any verification process. All you need is an authentic wallet that can help you access the Uniswap protocol.
Overall, Ethereum ATMs and Uniswap are the best ways to buy Ethereum anonymously.
Best Ways to Buy Ethereum with PayPal
eToro is one of the best ways to buy Ethereum with PayPal. eToro has a range of payment options that cover 95% of the available methods of deposits except for cryptos. You can use PayPal to deposit the minimum required on eToro without any depositing fees.
Since PayPal adheres to regulations, eToro believes depositing via this method means that the customer has been verified two times. As a result, the security of eToro cannot be compromised and anti-money laundering and identity theft issues can then be reduced to the barest minimum.
Best Place to Buy Ethereum with a Credit/Debit Card
The best way to buy Ethereum with a credit or debit card is to find a platform that is extremely convenient to use, has low depositing fees and provides excellent security.
Coinbase is one of the best places to buy Ethererum since they are present in many countries.
eToro is by far the best way to buy Ether (ETH) with a debit or credit card for most people. What’s more, transactions are processed in a fast manner, there are no transaction costs, and it’s extremely easy to go through the depositing process.
Ethereum ATMs accept credit/debit cards if you want to stay anonymous.
You can buy Ethereum tokens directly with Credit/Debit Cards on PayPal and Skrill (they are part of the wider expansion of crypto on online payment wallets).
Best Place to Buy Ethereum with Your Bank Account
The best places to buy Ethereum with your bank account are Coinbase and eToro. Since using bank accounts require identity verification, these exchanges will provide you with the most easy-to-use resources to buy Ether tokens.
How to Buy More Cryptocurrencies or Altcoins
Most of the exchanges that allow you to buy Ether with fiat do not have many coins on their platforms. If you want to buy more cryptocurrencies, you will have to patronize platforms that will allow you to trade Ether coins for other cryptocurrencies.
To buy more cryptocurrencies, KRAKEN (one of the pioneer cryptocurrency exchanges founded in 2011) is one of the best to consider. When looking out for the best way to buy cryptocurrencies in general and altcoins of all sorts ─ this exchange stands out.
✅ Supports lots of cryptocurrencies and pairs to trade.
✅ Provides reasonable fees on deposits and withdrawals.
✅ Become a part of a community that boasts of some of the best-experienced traders.
✅ It is easy to use.
✅ Provides staking services and other products such as cryptowatch.
✅ Has proof of reserves audit.
❌ Speed (their website runs slowly sometimes).
❌ Payment Method (no credit/debit card deposits accepted).
❌ Verification Process (this has been known as very slow for the creation of intermediate and pro-level accounts).
❌ Novice Experience (the platform can be a bit complex for beginners).
See You On the Other Side!
Trading Education has provided you with a full and comprehensive list of the best ways to buy Ethereum in 2021, as per your exchange preferences.
If you want to know more about cryptocurrency investing, as an e-learning organization, we provide crypto trading and investing articles at all levels (beginner, intermediate, and professionals).
You can also join the millions of readers who use the information on the website to get in-depth research on all the major cryptocurrencies and other altcoins that have great potential.
Although we have provided you with the best exchanges to buy Ethereum, you should find out the primary drivers behind the value of Ether before risking your money. This is because investing in Ether has made some people millionaires but it has plunged others into large debts.
eToro – The Best Platform to Buy Ethereum
eToro have proven themselves trustworthy within the crypto industry over many years – we recommend you try them out.
Virtual currencies are highly volatile. Your capital is at risk.
Should I Consider Buying Ethereum (ETH)?
Ethereum is an asset that is worth considering for your portfolio according to several experts. Before you decide, you must understand that all investments come down to risk and reward.
Analyst Skerdian Meta at FX Leaders believes Ether could reach the best possible price of $5,000 by the end of 2021 and at least $20,000 in 2024. Therefore, buying ETH could see you with at least 50% and 600% returns in the short and long term respectively.
How to Buy Ethereum (ETH) Legally?
As long as an exchange is available in your geographical area, you can buy Ethereum legally. eToro, Binance, Coinbase, OKEX, and Huobi Global among a range of cryptocurrency exchanges make it possible for you to buy Ethereum legally.
What Are The Safest Sites To Buy Ethereum (ETH)?
The safest sites to buy Ethereum adhere to compliance practices such as Knowing Your Customer and Anti-Money Laundering. Once an exchange requests you to go through extensive identity verification, you are on the right platform. eToro, Binance, and Coinbase are safe sites to buy Ether.
What Is The Cheapest Way To Buy Ethereum (ETH)?
There are many cheap ways to buy Ether but we would recommend buying your Ether tokens from eToro. You will get free deposits as well as a 0% commission on most of your trades.