You’ve heard about Ethereum a few times now.
But… You’re not sure about the best way to purchase it.
That’s where we come in. After reading this guide, you’ll know about all the ways to buy Ethereum.
This guide will teach you everything you need to know about obtaining Ethereum! Here are some of the most popular Ethereum exchanges, and their pros and cons.
Coinbase is one of the most popular exchanges in terms of volume and number of accounts. The exchange sells several different cryptocurrencies including Ethereum to all US States, most European countries, and more.
As far as fees, Coinbase charges 1.49% fees on Ethereum purchases when a bank wire or bank transfer is used.
There is a delivery time of around 3-5 days when using a bank transfer, but this isn’t a huge issue because the price you purchase at is locked in.
If you want an instant delivery, you could use a debit or credit card. This has fees of around 3.99% and with lower purchasing limits.
Coinmama is an Israel based exchange that sells Ethereum and other cryptocurrencies. For payment options, Coinmama only accepts debit and credit cards.
Coinmama has a different interface and user interface compared to most exchanges. They give you the option to purchase different packages.
These packages give guaranteed rates that update often. If you want to buy a different amount than one of the packages, you can create your own rate package at the bottom.
For limits, Coinmama has purchasing limits of up to $5,000 when using a credit or debit card. Expect 5.5% fees from Coinmama when a card is used.
Coinmama is one of the most secure exchanges and has never been hacked.
Unlike Coinbase and some of the other exchanges we will mention below, Coinmama has no custodial wallets. After purchasing you must input a wallet address to send cryptocurrency to.
Bitpanda is a great exchange with competitive fees and a wide amount of payment options. They allow SEPA transfers, SOFORT transfers, credit, debit, and more.
One important thing to note is that it’s only available for users in Europe. If your country is supported then this may be the exchange for you.
Bitpanda’s fees on credit and debit purchases are between 3-4% and around 2% on bank transfers. Their limits are pretty good and increase the higher the level of verification you have on your account.
The exchange has a great track record with security and allows for custodial wallets on the exchange, although this is not recommended for extended periods of time.
As you may have guessed, Coinbase Pro is an extension of Coinbase. The main difference is that Coinbase Pro is an exchange, while Coinbase is a brokerage. On Coinbase Pro, you’ll find much higher volume and liquidity, as well as extremely low fees.
One issue with Coinbase Pro is that it has a very steep learning curve compared to other options mentioned above. Once you learn the interface, it can be very rewarding.
The trading fees on the exchange scale based off your 30-day trading volume so the more you trade the fewer fees you pay. Overall, Coinbase Pro is a great option.
Gemini is another high trading volume cryptocurrency exchange based out of the United States. In addition to Ethereum, Gemini also sells Bitcoin, Zcash, and Litecoin.
Gemini has extremely low bank purchase fees at .49%. They use a credit system meaning funds are immediately granted when the order is entered on the website.
This is great for locking in prices on a dip or right before a big move. You will not be charged until several days later. You may not transfer any coins off of the exchange until the funds are taken from your bank account.
One disadvantage of Gemini is that it has a somewhat lengthy verification process. However, once an account it’s one of the best exchanges to buy Ethereum on.
Its order book can be confusing for beginners, which is the main reason it is not recommended higher.
Despite the name, LocalBitcoins has vendors that offer Ethereum in exchange for cash and other payment methods. One of the most popular features of LocalBitcoins is the inherent privacy it offers due to its payment methods.
In exchange for its escrow services, LocalBitcoins takes a 1% fee. Please note that sellers on the exchange will often charge a varying premium on the price of Ethereum.
There may be a few ways to do this, but the difficulty and fees/premiums associated with it is not really worth it. If this is your only option, you can check out LocalBitcoins. Coinbase allows for the selling of Ethereum in exchange for Paypal balance, but not the purchasing.
Purchasing Ethereum with cash is 100% doable, on some of the person to person exchanges. LocalBitcoins is likely the most popular P2P exchange, so we’d recommend using them.
If your goal is low fees, then Coinbase, Bitpanda or Gemini are most likely your best bet. They have the lowest fees for their respective payment methods. Overall, bank account purchases will have the lowest fees across all exchanges.
No, not at all! Ethereum and Ethereum classic are two entirely different coins. While they are both availble on some of the same exchanges, they are entirely different blockchains. They also have massively different prices.
There are probably some Bitcoin ATMs that also sell Ethereum. ATMs are an interesting payment method option due to the high privacy they offer. As you can probably guess, this privacy often comes with higher fees. Expect around 10% fees on crypto ATM transactions.
Whether you are purchasing Ethereum to send to a secondary exchange or holding it long term, it is a great choice. Ethereum is a platform for decentralized apps, and as more and more apps run on it, the price should only increase!
Ethereum is one of the simplest cryptocurrencies to buy because of its fiat pairs. Fiat pairs are when something is able to be purchased directly with dollars, Euros, or other government-backed currencies.