Top 6 Ethereum (ETH) Trading Platforms in 2023

This article will discuss the top six best Ethereum (ETH) trading platforms available. Learn all about what each platform offers when it comes to security, user-friendliness, fees, payment methods and more.

Author: Alex Waick   -   Last updated: 06/12/2022
How To Buy Ethereum (ETH) Header

Introduction

In this article, we’ll take a look at the top six best Ethereum (ETH) exchanges & brokers. We’ll also consider their respective fees, security measures, customer support, fees, and other features so that you can make an informed decision.

ETH is one of the most prominent coins in the world of cryptocurrencies today. Its platform has enabled developers around the world to create decentralized applications or DApps for a variety of use cases such as finance, gaming, insurance, and more. As a result, ETH has become widely adopted by many companies and individuals alike as a reliable store of value. 

Top 6 Ethereum (ETH) Trading platforms in 2023

  • Min Deposit: $200
  • Number of Coins: 20+
  • Supports Multiple Languages
  • Regulated by FCA, ASIC & CySEC
  • Paypal, Debit & Credit Card Accepted
Card CashBankGiro PayMastercardNetellerPayPalSkrillUnionPayVisaWire CardYandex
Visit eToro

Capital At Risk

  • Min Deposit: 20 $£€
  • Number of Coins: 12+
  • Regulated by FCA & CySEC
  • Place Buy & Sell CFDs Orders
  • Low Minimum Deposit
MastercardNetellerPayPalSkrillUnionPayVisaWire Card
Visit Capital.com

87.41% of retail CFD accounts lose money

  • Min Deposit: 1 $£€
  • Number of Coins: 50+
  • Regulated by SEC, & FinCEN
  • Place Buy & Sell CFDs Orders
  • Low Minimum Deposit
Giro PayMastercardNetellerSkrillUnionPayVisaYandex
Visit Coinbase

Capital At Risk

  • Min Deposit: 1 $£€
  • Number of Coins: 1500+
  • High Number of Coins
  • Accepts Fiat Deposits
  • Trade on Spot and Futures
Card CashMastercardSkrillWire Card
Visit Binance

Capital At Risk

  • Min Deposit: 50 $£€
  • Number of Coins: 9+
  • Free deposits / withdrawals
  • High limits for buying bitcoins with a credit/debit card
  • Service available in many countries
NetellerSkrillUnionPay
Visit Coinmama

Capital At Risk

  • Min Deposit: 1 $£€
  • Number of Coins: 50+
  • Highly transparent exchange
  • Competitive Bitcoin trading fees
  • Highly secure
Card CashGiro PayMastercardUnionPayVisa
Visit Kraken

Capital At Risk

How to Buy Ethereum (ETH) Instantly in Three Quick Steps

Step 1: Decide where to buy

Start by selecting a crypto trading platform from where you would like to buy cryptocurrencies. This can be an exchange, a crypto brokerage, or even a peer-to-peer crypto trading platform. Create a user/crypto trading account on the platform.

Step 2: Fund your account

Deposit cash into the crypto trading account you just created. Look at the payment methods supported by the crypto exchange/brokerage and use one to deposit funds into the account.

Step 3: Buy Ethereum

Buy Ethereum from the platform. In the case of an exchange, you can buy Ethereum from the open markets or by placing a limit order on the order book. In the case of a brokerage, you buy Ethereum directly from the broker or from your peers in a peer-to-peer trading platform.

Step One
Open A Free Account
eToro Logo
Step Two
Deposit Funds
Card CashBankGiro PayMastercardNetellerPayPalSkrillUnionPayVisaWire CardYandex
Step Three
Buy Cryptocurrency
Buy Now

Capital At Risk

What to Look for in an Ethereum (ETH) Trading Platform?

Before detailing the process of buying Ethereum on some of the best platforms, we need to go over some of the factors that you need to consider when choosing the best platform to buy Ethereum.

  • Trading Platform’s Fees and other charges: When looking for a broker, check both their trading and non-trading fees and assess the impact it may have on your profitability. Check if the extent of their transaction fees/spreads, trading commission, overnight fees, deposit/withdrawal fees, currency conversion fees, or administration fees. Register with the platform with the least fees.
  • Trading Platform’s Regulation and reputation: You are also advised to register with a licensed and regulated trading platform. And when you find one, check online reviews of their past and current customers to ensure that it is of good repute and that they provide sufficient client support.
  • Security: Check the measures that a trading platform has put in to safeguard both your deposits, personal information, and crypto-assets. For instance, does it allow for 2-factor authentication, does it provide clients with wallets, do they store assets in cold storage, and has it insured client assets? Go for a platform with the highest security standards.
  • Usability: Is your preferred crypto trading platform easy to use? Is their crypto trading interface beginner-friendly and do they integrate such critical features as trading and research tools and do they provide novice traders with a demo account? Vet the platform against these issues.

1. eToro – Best for Social Trading

Available Coins: 20+
Margin Trading: YES
Minimum Deposit: $200
Visit eToro

Capital At Risk

eToro started in 2007 as an online brokerage and only introduced Ethereum CFD trading in 2017. Today, it has grown into one of the largest social investing platforms and one of the best places to buy Ethereum. It provides the platform users with a highly intuitive trading interface, a host of advanced trading tools, market research and analysis tools, and client support services.

It is, nevertheless, best known for its social trading feature that allows for smooth networking between pro and beginner traders on the platform. It gives novice crypto traders the opportunity to benefit from mentorship from pro traders. eToro allows them to earn as they learn by copying the Ethereum trading settings of highly successful crypto traders.

The processes of registering a trader account and buying Ethereum on eToro are fast and straightforward. The highly versatile platform makes it possible for you to buy Ethereum with a credit card, eWallets like PayPal/Skrill/Neteller, and even cash via bank transfers.

eToro provides custody services for cryptocurrencies purchased on the platform. They will even provide each of their users with a free standalone crypto wallet app.

The Ethereum trading fees on eToro are quite competitive. For instance, unlike most other trading platforms, eToro doesn’t charge you a brokerage commission when you sell or buy Ethereum CFDs. It maintains a competitive and fixed 1.90% spread for all Ethereum transactions. Additionally, eToro doesn’t charge overnight fees to buy Ethereum (long) trades. Short/sell Ethereum trades, however, carry a -$0.300336.

Other charges imposed by eToro include a $5 withdrawal fee. There is also a 0.1% conversion fee when you wish to convert Ethereum assets to any other crypto when using the eToro wallet. You will also pay 20% of the profits earned from buying Ethereum using copied trade strategies and a $10 monthly fee for inactive accounts.

The minimum trading size for buying Ethereum on eToro is $25. You get to trade on both the eToro web trader and the eToro mobile app. You can also use the newly established eToroX that’s specially designed to serve expert and institutional crypto investors. On either platform, you get to interact with 5 ETH trading pairs (both fiat and crypto).

In the section below, we highlight the step-by-step process of buying Ethereum with a credit card, how to buy Ethereum with PayPal, and how to buy Ethereum with bank transfers on eToro.

Pros and Cons of Buying Ethereum (ETH) on eToro

Pros

  • Beginner-friendly: eToro is beginner-friendly in two ways. It features a highly intuitive user interface and matches novice traders to Pro traders via the social trading protocol. It also hosts a wide range of educational content on its website.
  • Access to leverage when trading CFDs: eToro is a predominantly Ethereum CFDs brokerage. And when trading Ethereum CFDs on the social trading platform, you will have access to leverages of up to 1:2.
  •  Access to a free demo account: Upon creating a real trading account on eToro, you will also be presented with a free virtual/demo account. Novice traders can use the account to understand the platform and practice trading, while expert traders use it to try out new or perfect existing trading strategies.
  • Free wallet for when you want to trade actual crypto: eToro is custodial, implying that the broker exchange will hold crypto on your behalf. These are primarily held in highly secure offline storage. But in addition to these, eToro presents its users with a free standalone crypto wallet app.

Cons

  •  Subscription-based support: Most of eToro’s support services are only available to eToro club – a subscription-based program – members. Regular traders, for instance, do not have access to live chat and phone support.
  • High first-time deposit: One may consider the minimum initial deposit required by eToro to be relatively high.

 How to Buy Ethereum (ETH) on eToro Step By Step

  1. Start by creating a trader account on eToro and verifying your identity. These credentials can be used to log in to both the eToro trade account and the eToro wallet app.
    eToro homepage
  2. On your eToro dashboard, click on the “Deposit Funds” icon on the bottom left corner of the screen.
    eToro Dashboard to Buy Ethereum
  3. You will be directed to the deposit page. Choose a preferred payment method from the list of options provided by eToro. These could be eWallets (Skrill, Neteller), bank wire, a credit card, a debit card, PayPal, and others – depending on your country of residence (for illustration purposes, we choose a credit card or a debit card).
    Fund eToro Account
  4. Enter the card number, card name, expiry date, and its three-digit CVV, and click on the “Deposit” button to authorize the transaction.
  5. Once the deposited funds reflect in your eToro account (deposit processing may take a few minutes), click on the “Trade Markets” icon on the user dashboard and choose Ethereum under the crypto section.
    Select Ethereum
  6. Click on the “Trade” icon on the upper right corner of the screen, and on the next page, enter the amount of cash you wish to spend buying Ethereum instantly and click on “Open Trade” to authorize the transaction.
    Buy Ethereum at eToro

Note: eToro has USD as its only base currency. Therefore, deposits into your eToro account using other fiat currencies will be subjected to a 2% currency conversion fee. Additionally, the minimum deposit for a credit card or a debit card is $200. Further, the ETH purchased will be delivered to your eToro exchange wallet and you will need to first move them to the eToro mobile wallet if you wish to send them to a third-party wallet or exchange.

2. Capital.com – Best Platform for Ethereum CFD Trading

Available Coins: 12+
Margin Trading: YES
Minimum Deposit: 20 $£€
Visit Capital.com

87.41% of retail CFD accounts lose money

Capital.com is arguably one of the most technologically advanced crypto trading platforms. It makes it to our list of the best places to buy Ethereum because of its intuitive interface and AI-powered platform. Some of its key strengths include relatively fast transaction processing speeds, competitive fees, and highly advanced trading tools. These range from technical indicators, multiple chart layouts, price alerts, and advanced risk management tools.

You also get to buy Ethereum on an artificially intelligent trading platform. This feature makes it possible for the platform to personalize your interactions and present you with highly personalized trade insights. You can, for instance, use it to monitor the second-by-second price fluctuation for Ethereum and other cryptos. The AI-Powered platform will even create multiple watchlists for different Ethereum pairs.

Note, however, that you can only trade Ethereum CFDs on Capital.com.

The process of registering a trader account on Capital.com and making your first Ethereum transaction is easy and straightforward. The broker exchange doesn’t charge a commission for your Ethereum trades- and neither does it maintain hidden fees. The spreads are also highly variable.

Capital.com doesn’t charge deposit or withdrawal processing fees. Leveraged Ethereum trades on the platform also attract highly variable and competitive overnight trading fees. For example, an ETH/GBP trade utilizing a 50% margin would attract -0.05% for long positions and 0.14% for short trades. This fee kicks in at 01.00 UTC.

Currently, Capital.com offers 10 ETH-based trading pairs (against both crypto and fiat). You have the option of buying and selling these trades on either their web trader or the mobile app platforms. The minimum trading size on the platform is 0.01 ETH.

Let us look at the step-by-step process of buying Ethereum with a credit card, PayPal, and Bank transfer on Capital.com.

Pros and Cons of Buying Ethereum (ETH) CFDs on Capital.com

Pros

  • AI-powered platform: Capital.com is one of the few AI-powered crypto trading brokerages. This technology makes it possible for the platform to personalize your experience on Capital.com by providing you with personalized trade insights, creating a watchlist, and even price alerts.
  • Competitive Ethereum trading fees: Capital.com maintains some of the lowest and highly competitive Ethereum trading fees.
  • Secure and highly regulated: Capital.com is highly secure as it has put in place adequate measures to protect client deposits, including two-factor authentication. The broker exchange is also regulated by several Tier 1 finance regulatory agencies like the FCA and CySEC.
  • A large number of trading pairs: When buying Ethereum CFDs on Capital.com, you get to interact with 20+ Ethereum trading pairs.

Cons

  • Not so beginner-friendly: Capital.com embraces highly advanced technology and sophisticated and rather sophisticated trading and analysis tools. These make the Ethereum exchange less intuitive to novice traders.
  • Low leverage: When buying Ethereum on Capital.com, your maximum leverage for the trade is capped at 1:2. This is relatively low, especially when compared to such exchanges as CEX.io, which offer leverages of up to 1:100.

 How to Buy Ethereum (ETH) on Capital.com Step By Step

  1. Start by creating a user account on Capital.com and verifying your identity.
    Capital.com homepage
  2. Once logged in, click on the “Deposit” tab on the user dashboard.
  3. The deposit window pops up, listing all the payment methods supported by Capital.com, including credit card, debit card, bank wire, Sofort, iDeal, and more depending on your country of residence.
    Fund account on capital.com
  4. For illustration purposes, we select the credit card or debit card option. To start the deposit process, enter the card details, including Card Number, expiry date, and the 3-digit CVV, and hit send.
  5. After the cash reflects on your Capital.com account, click on the “Trade” icon on the user dashboard. Search the term ETH on the adjacent search bar to list all the Ethereum trading pairs supported on the platform.
    Buy Ethereum at Capital.com
  6. Select your preferred Ethereum pair and click on choose the “Buy” option.
    Select Ethereum Pair
  7. Use the trade settings menu on the right edge of the screen to adjust such aspects of the trade as the number of ETH coins to buy, set maximum leverage, and set the stop loss/take profit levels.
    Place order to buy Ethereum
  8. Click on the “Buy/Sell” tab to complete the transaction.

Note: The minimum deposit amount into a Capital.com account is £20. The leverage is capped at 1:2.

3. Coinbase – Best Ethereum Exchange for Beginner Traders

Available Coins: 50+
Margin Trading: No
Minimum Deposit: 1 $£€
Visit Coinbase

Capital At Risk

Coinbase is arguably one of the largest and most popular crypto exchanges. It makes it to our list of the best exchanges to buy Ethereum because of its deep liquidity, user-friendliness, and fast order processing. It is also one of the safest crypto trading platforms as it has not only put in place adequate measures for Ethereum traders but has also insured client deposits. On the renowned exchange, you can buy ETH using either cash or other cryptos.

Creating a user account on Coinbase and buying your Ether altcoin is a straightforward process. The exchange is available both as a web trader and a mobile app. Recently, Coinbase introduced Coinbase Pro, a trading arm of the company dedicated to professional and institutional crypto traders. Both platforms offer several Ethereum pairs, but Coinbase Pro offers more competitive trading fees.

Coinbase does not support crypto derivatives. You can only buy actual Ethereum coins on Coinbase that you can choose to hold in your account or in the free and standalone Coinbase wallet. The exchange, therefore, does not charge overnight trading fees. You will have to part with a fixed 1.49% fee for every Ethereum transaction (both buy and sell orders) on the platform.

The minimum Ethereum trade size on Coinbase is $25, and you get to interact with more than 10+ Ethereum pairs on the platform.

In this guide, we look at the step-by-step process of buying Ethereum with a credit card and via bank transfer.

Pros and Cons of Buying Ethereum (ETH) on Coinbase

Pros

  • Highly secure: Coinbase is one of the safest Ethereum exchanges around. It is highly regulated, stores client funds in offline storage, provides you with a free standalone crypto wallet, and also ensures client deposits. Importantly, the Coinbase exchange has never been hacked.
  • Low minimum deposit and trading minimums: Coinbase maintains some of the lowest minimum initial deposit amounts and an even lower minimum trading limit.
  • Appeals to both beginner and pro traders: Coinbase is also as beginner-friendly as it is appealing to pro traders. Recently, the popular crypto exchange launched Coinbase PRO, an exchange dedicated to expert Ethereum buyers and traders.

Cons

  • Considerably expensive trading fees: Coinbase, however, doesn’t have the most attractive trading and non-trading fees. It, for instance, charges a card deposit-processing fee in addition to the processing fee already charged by the card issuer.
  • Sluggish support: Though the Coinbase support team is available online and on-phone, they can at times be sluggish in responding to client queries.

 How to Buy Ethereum (ETH) on Coinbase Step By Step

  1. Start by creating a user account on Coinbase and verifying your identity.
  2. Once logged in, click on your user icon on the top right corner of the user dashboard and select “Settings” from the drop-down menu.
  3. Click on the “Payment methods tab” and then choose to “add a payment method.” From the list of supported payment methods, select “Credit card, or debit card.”
    Select Payment Method to Buy Ethereum
  4. You will then be required to enter card details, including the card number, name, CVV, and expiry date.
  5. You will receive a notification that the card has been successfully added.
  6. On the user dashboard, click on the “Trade” tab and proceed to choose Ethereum from the list of supported cryptocurrencies.
    Buy Ethereum at Coinbase
  7. An Ethereum buying page will pop up. Adjust the trade settings by entering the amount of Ethereum you wish to buy on Coinbase, select a payment method (card), determine where the Ethereum should be deposited, and press the “Buy Ethereum instantly” to authorize the purchase.
  8. Wait for the Ethereum to reflect on your Coinbase exchange account.

Note: It takes a few minutes to add a payment method and buy Ethereum with a credit card on Coinbase. The minimum initial deposit for credit cards is $/€/£20.

4. Binance – Best Ethereum Exchange for Low Trading Fees

Available Coins: 1500+
Margin Trading: YES
Minimum Deposit: 1 $£€
Visit Binance

Capital At Risk

Binance is the largest crypto exchange in the world and one of the most popular platforms for buying Ethereum. Like in the case of Coinbase, you can only buy actual Ethereum coins and not ETH derivatives like Ethereum CFDs on Binance. The exchange is also quite versatile and allows you to buy Ethereum with cash. Here, you choose to buy ETH instantly with a card or make a deposit into your account via bank.

Binance makes it to our list of the best crypto exchanges in the world because of its affordability and deep liquidity. It has one of the broadest global reach (available in over 200 countries and territories). It also has an equally expanded user base that ensures orders are fulfilled as soon as they are placed. It is also a highly secure and recently launched insurance cover – SAFU – for their client deposits.

You can also buy ETH on Binance using other cryptocurrencies like Bitcoin or BNB coins on Binance. Further, you have the option of buying Ethereum via the Binance web trader or their Binance Mobile app. Registering on either platform and buying platforms and the process of buying ETH UK is quite straightforward. Both host a wide range of highly advanced trading, market research, and analysis tools.

On Binance, you get to interact with 20+ Ethereum pairs. There are no overnight trading fees when buying Ethereum on Binance, and neither are there trading commissions. You will, however, pay a maker-taker fee that is largely dependent on your 30-day trading volumes. These rates range from 0.0100% to 0.0200%. And you stand to benefit from a 50% fee discount if you pay for the transaction using Binance Coin. The minimum trade size for buying ETH on Binance is 0.001 ETH.

Let us go over the step-by-step process of buying Ethereum with a credit card on Binance.

Pros and Cons of Buying Ethereum (ETH) on Binance

Pros

  • Reputable and highly secure exchange: Binance has over the years established a reputation of safety, reliability, trust, and affordability. Even when its servers were compromised, the company was quick to indemnify affected accounts and establish an insurance cover to cover all its accounts.
  • Low Ethereum trading fees: Binance maintains some of the lowest trading fees. When buying Ethereum on Binance, the per-transaction fee starts from 0.020%.
  • Fast order processing: Binance runs a highly advanced trading platform that integrates a wide range of sophisticated trading and analysis tools. The processing speed for your Buy ETH orders is fast, and the popular exchange rarely suffers downtime, even in periods of high market volatility.
  • Discounted BNB-funded transactions: When you buy Ethereum UK on Binance and chose to pay the transaction fee using Binance (BNB) Coins, this fee will be discounted by 50%.

Cons

  • Not beginner-friendly: The highly advanced trading tools and analytics, as well as the sophistication of the Binance exchange, make it unappealing to most novice traders.
  • Sluggish support: Binance does not offer phone support. You can only contact their customer support team via email or live chat. The platform users have, however, reported huge delays from the customer support team in responding to client queries.

 How to Buy Ethereum (ETH) on Binance Step By Step

  1. Start by creating a user account with Binance. Though it supports semi-anonymous crypto trading, Binance requires that you verify your identity and provide them with proof of address if you intend to buy cryptos like Ethereum with cash.
    Binance Register Page
  2. On the user dashboard, tap on the “Buy Crypto” tab and select “Credit or Debit Card” from the drop-down menu of supported payment methods.
    Select Payment Method and Buy Ethereum
  3. You will be directed to the trading page. Here, enter the amount of cash you wish to spend on the trade, select Ethereum, and click on “Add Card”
    Buy Ethereum with credit card at Binance
  4. On the next page, enter the card details, including the card name, card number, expiry date, and CVV, then confirm your address and tap the “Continue” button.
    Confirm order to Buy Ethereum
  5. Check that the transaction details are accurate and tap on the “Confirm” button to complete the purchase.
  6. Wait for your ETH balance to reflect on your Binance user account.

Note: It takes a few minutes to process Ethereum purchases with cards on Binance. The minimum trade amount for buying ETH UK on Binance is £1 and they will be delivered to your Binance exchange wallet. You are however free to move the purchased tokens to the Binance-linked Trust wallet app, third-party crypto wallet, or exchange.

5. Coinmama – Best for Fast Ethereum Transactions

Available Coins: 9+
Margin Trading: No
Minimum Deposit: 50 $£€
Visit Coinmama

Capital At Risk

Coinmama is neither a crypto exchange nor a crypto brokerage. It is an instant buy platform with its headquarters in Israel but offering crypto services in 180+ countries across the world. It stands out from the crowd because you can only buy Ethereum but cannot sell the altcoin here. Unlike most other exchanges and brokerages, you also do not get to interact with other crypto traders because you deal with Coinmama’s platform directly.

The crypto trading platform features on our list of the best places to buy Ethereum because of its fast translation processing speeds. It also has one of the easiest crypto buy processes that appeal to both professional and novice traders. The buying process is also quite straightforward and the trading platform supports multiple payment methods including credit cards & debit cards, Apple Pay, GiroPay, Bank wire, Swift, SEPA, and more.

Coinmama started in 2013 as an instant trading platform where crypto enthusiasts could buy and sell Bitcoin. Over the years, however, it has integrated eight more cryptocurrencies and altcoins – including Ethereum.

Note that Coinmama is non-custodial and doesn’t offer wallet or crypto storage services. You will need to first acquire a digital wallet before initiating the process of buying Ethereum here. Further, the minimum trading limit is $50 and Coinmama maintains a transaction fee of 0.00% and 5% which is subject to discounts if you subscribe to Coinmama’s loyalty program.

Pros and Cons of Buying Ethereum (ETH) on Coinmama

Pros

  • High trade limits: Coinmama maintains relatively high trade limits. You can, for instance, buy Ethereum tokens of up to $50,000 per day into Coinmama if deposit using Bank wire.
  • Instant transaction: Coinmama has some of the fastest transaction speeds and your purchased ETH tokens will be delivered to your wallet almost instantly.
  • Excellent support: Coinmama also maintains a highly responsive customer support team that is available online 24/7 via live chat, email, and on phone.
  • Fast account verification: The process of creating and verifying a user account on Coinmama takes no more than a few minutes.

Cons

  • No selling Ethereum: Coinmama is not a trading platform and you will therefore need another exchange to sell the Ethereum you bought on the platform.
  • High trading fees: One may consider the up to 5% transaction charge by Coinmama quite uncompetitive.

 How to Buy Ethereum (ETH) on Coinmama – Step By Step Guide

  1. On your browser open the official Coinmama website and click on the signup button atop the computer screen to begin the registration process.
    Register Account at Coinmama
  2. Verify the account by providing Coinmama with a copy of your government-issued identification document and a clear selfie.
  3. Once the account is approved, log in and click on the “Buy” tab on the user dashboard. From the drop-down button, choose “Ethereum” and enter the amount of cash you which to spend on the trade.
    But Ethereum at Coinmama
  4. Coinmama will now ask for the receiving Ethereum wallet address.
    Add wallet Address to Receive Ethereum
  5. From the list of supported payment options, largely based on your country of residence, choose one.
    Choose your supported country
  6. Confirm that the transaction details, especially the trade amount and wallet address are correct and hit send.

Note: Transaction processing on Coinmama is almost instantaneous and the purchased ETH will be released to your wallet immediately. How long it takes the balance to reflect in your wallet will, however, depend on Ethereum network congestion.

6. Kraken – Best Ethereum Exchange for safe Storage

Available Coins: 50+
Margin Trading: YES
Minimum Deposit: 1 $£€
Visit Kraken

Capital At Risk

Kraken has time and again been described as one of the safest platforms for buying Ethereum and other cryptocurrencies. It is one of the longest-standing and highly successful crypto exchanges, having been started in 2011. Over the years, Kraken has cultivated a reputation of trust and reliability by subjecting its platform to regulation from multiple agencies across the world and being the first exchange to carry out a proof of reserve audit.

Some of the factors that help Kraken make it to our list of the best places to buy Ethereum include its user-friendly trading platform and transparent as well as highly competitive trading fees. There are no hidden fees and the platform lets you view the different charges acting on your trading platform before you press the buy/sell button.

Unlike most of its equally popular exchanges, however, Kraken doesn’t offer a crypto wallet. They can store your crypto on behalf in the Kraken exchange but the exchange does not offer an external personalized crypto wallet service.

Pros and Cons of Buying Ethereum (ETH) on Kraken

Pros

  • Liquid exchange: Kraken’s global reach and huge user base give it deep liquidity that makes it possible to fill even the largest ETH order in the shortest time possible.
  • Highly secure: Kraken is highly secure and has put in place multiple safety measures aimed at safeguarding both your personal information and digital assets.
  • Easy to use: Kraken is also relatively easier to use as it features a beginner-friendly instant buy platform and the Kraken PRO exchange for experienced traders.
  • Multiple trading pairs: In addition to deep liquidity, Kraken also exposes you to multiple Ethereum trading pairs on the exchange.

Cons

  • Slow account verification: Kraken has been accused of sluggishness when it comes to verifying accounts, especially when it comes to upgrades to Intermediate and PRO levels.
  • Limited payment options: Kraken deposit/withdrawal options are quite limited and as it does not support most eWallets and credit cards.

 How to Buy Ethereum (ETH) on Kraken – Step By Step Guide

  1. Open the official Kraken website on your browser and click on “Create Account” to start the registration process.
    Kraken homepage
  2. Verify your Kraken trader account. To unlock the Starter level that lets you withdraw up to $5k (in crypto) per day, provide personal information. To unlock the Intermediate level that lets you deposit up to $500k (cash) monthly and withdraw up to $500k (crypto) daily, provide the exchange with your ID. To unlock unlimited cash and crypto deposit/withdrawals, provide Kraken with bank statements and other financial information.
    Select Account Type at Kraken
  3. Once the account is approved, deposit (cash or crypto).
    Deposit cash or crypto to buy Ethereum
  4. After funds reflect in this account, access your Kraken user dashboard and place an Ethereum market or limit order.
    Buy Ethereum at Kraken
  5. The purchased ETH tokens will be deposited in your Kraken exchange wallet but you are free to move them to any third-party wallet or exchange.

Other Ways of Getting Ethereum (ETH)

After exploring the different ways to buy Ethereum, we now need to explore alternative ways of getting Ethereum. Most of these do not require you to go through a crypto trading platform and neither do they call for significant initial deposits.

Ethereum mining

Ethereum, like the Bitcoin blockchain, uses the proof of work consensus mechanism. This implies that computer power contributors also referred to as miners are rewarded with ETH tokens when they verify and confirm transactions on the network. You too could invest in mining hardware and contribute computational power to the ETH network in exchange for ETH tokens.

Ethereum Faucets

Ethereum faucets are websites that reward contributors with free ETH tokens when they complete different micro-tasks listed on the site. These tasks range from testing mobile apps, laying video games, watching marketing videos, clicking on affiliate links, completing surveys or puzzles, completing captcha, and more. These tasks take a few minutes and require no special skill.

ETH as git or tip

You may receive Ethereum as a gift or tip from crypto investing friend or acquaintance. Given the popularity of cryptocurrencies, it is now becoming commonplace for acquaintances, colleagues, and friends to gift each other such cryptos as Ethereum. If you are creative or offer different services online, you are also likely to receive donations and tips in form of ETH tokens if you include an ETH wallet address in your tip basket.

Ethereum as payment for goods or service

Ethereum is increasingly gaining acceptance as a medium of exchange and store of value. If you run a crypto-friendly merchant or offer premium services online, you will often come across individuals looking to pay for goods and services via Ethereum.

How Can You Use Ethereum (ETH)

Now that you have learned of the most common and some alternative ways of getting Ethereum, let us now turn our focus on what you can do with the recently acquired Ethereum.

  • Buy goods and services: Ethereum has been majorly adopted as a medium of exchange. Today, you can use your ETH tokens to pay for different goods and services in stores and platforms.
  • Donate to charity: Ethereum is arguably the second most popular cryptocurrency after Bitcoin. It is highly fungible and listed with virtually all exchanges across the world. This accessibility has ensured that most charitable organizations now accept ETH donations.
  • Store of value: Given Ethereum’s relative immunity to inflation, you may choose to convert your liquid cash to ETH to protect them from value loss due to inflation.
  • Buy and hold/trade: You may also choose to turn Ethereum into an investment by either buying and holding (HODLing) or by actively trading the crypto asset.
  • Gift and offer tips: You too could offer give out Ethereum tokens as gifts and tips to friends, colleagues, relatives, and acquaintances. You may also donate ETH to a favorite creative and other service providers.

Conclusion

Ethereum (ETH) is one of the most sought-after cryptocurrencies in the world today. With its low transaction fees, fast transaction times and highly secure platform, it is easy to see why so many people are drawn to investing in ETH. There are many great places to buy ETH, as we’ve listed above. Each of these platforms offers its own unique features that make them attractive to different types of investors. Choose the one that best suits your needs and let’s get down to business!

Frequently Asked Questions (FAQs)

It depends on what you’re looking to achieve. Ethereum has different features and benefits than bitcoin, so it really comes down to what your goals are. If you’re looking to just HODL or trade cryptocurrencies, then it might make sense to convert your bitcoins to Ethereum (or vice versa). But if you’re looking for a different use case that Ethereum provides, such as smart contracts, then it might not be the best idea. Really, it all comes down to what you’re trying to do with your cryptocurrencies.

It depends on your investment goals and risk tolerance. However, Eth generally has been a good investment since its inception, and many experts believe it has the potential to continue outperforming in the coming years.

There are a few different ways to trade Ethereum, but the easiest way is on an online exchange. Some of the most popular exchanges include the ones listed above. Once you have created an account on a given exchange, you will be able to add a payment method and then purchase Ethereum by following a few simple steps. Be sure to always double-check the platform before submitting your personal information.

It depends on your goals and what you hope to achieve with Ethereum. If you’re looking to make short-term gains, then probably not. However, if you’re thinking long-term and want to hold Ethereum as a way to participate in the future of blockchain technology, then it could be a good investment.

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