Last update: Jun 6, 2022

How to Buy Ethereum (ETH)

Marco velaAuthor: Marco Vela - Fact-checked ✓

So you’re looking for a guide on how to buy Ethereum. Depending on where you’re based, you’ll have different crypto trading platforms to choose from.

In this guide, we not only cover the top 3 global cryptocurrency exchanges, but also the best exchanges for Australia, Canada, and the UK.

Let’s get started!

Ethereum

How to Buy Ethereum – 4 Easy Steps

1. Choose a crypto exchange

Finding a crypto exchange isn’t that hard. There are plenty of big players out there that have been around for quite some time.

This is where our comparison tables can help. The important factors to look for are fees, security, and if they have Ethereum of course.

2. Sign up with the cryptocurrency exchange

Signing up with any of the major exchanges is generally very easy. The initial sign up should be very fast, and even the verification processes are very well set up these days.

3. Fund your account

Next, you would need to fund your account with either fiat money (USD, AUD, GBP, CAD, etc) or another cryptocurrency like BTC or ETH. This process should again be straightforward and easily done using one of the bigger crypto exchanges.

4. Buy Ethereum

Now that you have what you need to buy Ethereum, head over to the market or buy section of the cryptocurrency exchange and buy some ETH.

If the crypto exchange doesn’t have any Ethereum on offer, for most cryptocurrencies you can buy Ethereum instead, transfer it to a decentralized exchange like Uniswap (check if Uniswap has Ethereum first), and trade your Ethereum for Ethereum.

Where to Buy Ethereum (ETH)

These are our top 3 exchanges based on the number of cryptocurrencies on offer, security, ease of use, and fees.

ExchangeFiat currenciesCryptocurrenciesDeposit methodsSite
BinanceUSD, AUD, EUR, GBP, CAD, CNY, and many more.350+Credit card, Cryptocurrency, Debit card, and moreVisit Binance
FtxUSD, EUR, GBP, AUD, HKD, CAD, CHF, BRL250+Wire transfer, Credit card, Silvergate Exchange Network, SIGNETVisit FTX
Etoro logoUSD, GBP, AUD, EUR, and more50+credit card, skrill, paypal, bank transfer, and moreVisit eToro
Disclaimer: Cryptocurrencies are volatile and may involve a lot of risk. Their performance is very unpredictable and past performance is no guarantee of future performance. Consult a financial advisor or obtain your own advice independent of this site before relying and acting on the information provided.

How to Sell Ethereum

  1. Sign into the crypto trading platform where you bought Ethereum.
  2. Move your Ethereum to the right place on the cryptocurrency exchange. Some exchanges have trading accounts you need to use for buying and selling.
  3. Sell Ethereum.

 

Crypto trading

How to Buy Ethereum (ETH) in Australia

Looking at Australian crypto exchanges, it's always good to check if the exchange is registrered with AUSTRAC (Australian Transaction Reports and Analysis Centre). In addition, it would be handy if the exchange has integrated with POLi pay and PayID for instant AUD deposits.

If you’re looking to buy Ethereum in Australia, the process remains the same:

  1. Find a crypto exchange below.
  2. Sign up for an account.
  3. Fund your account with AUD.
  4. Buy Ethereum if it’s available. If the exchange doesn’t have Ethereum. You can buy ETH instead, transfer it to a decentralised exchange like Uniswap (check first if Uniswap has Ethereum), and trade your ETH for Ethereum.

If you’d like to learn more about the exchanges we like, check our list of the best bitcoin brokers in Australia.

ExchangeFiat currenciesCryptocurrenciesDeposit methodsSite
Swyftx logoAUD, NZD300+bank transfer, POLi pay, PayID, credit cardVisit Swyftx
Binance logoUSD, AUD, EUR, GBP, CAD, CNY, and many more.350+Credit card, Cryptocurrency, Debit card, and moreVisit Binance
Ftx logoUSD, EUR, GBP, AUD, HKD, CAD, CHF, BRL250+Wire transfer, Credit card, Silvergate Exchange Network, SIGNETVisit FTX

How to Buy Ethereum (ETH) in Canada

When researching Canadian crypto exchanges, make sure they're registered with FinTRAC (Financial Transactions and Reports Analysis Centre of Canada) and ideally support Interac e-Transfer (in addition to wire transfer and maybe credit cards) for smooth CAD deposits.

If you’re looking to buy Ethereum in Canada, the process remains the same:

  1. Find a crypto trading platform below.
  2. Sign up for an account.
  3. Fund your account with CAD.
  4. Buy Ethereum if it’s available. If the exchange doesn’t have Ethereum. You can buy ETH instead, transfer it to a decentralised exchange like Uniswap (check first if Uniswap has Ethereum), and trade your ETH for Ethereum.

Or, if you’d like to know more about the exchanges we prefer, read our comparison of the best crypto trading platforms in Canada.

ExchangeFiat currenciesCryptocurrenciesDeposit methodsSite
Bitbuy logoCAD15+Wire transfer, Interac e-TransferVisit Bitbuy
Coinberry logoCADBitcoin, Ethereum, Litecoin, BCH, XLMInterac e-Transfer, Wire transfer, Credit card, Debit cardVisit Coinberry
Ndax logoCADBitcoin, Ethereum, Litecoin, and 4 morewire transfer, Interac e-Transfer, Bank draftVisit ndax

How to Buy Ethereum (ETH) in the UK

We recommend only looking at UK cryptocurrency exchanges that are registered with the FCA (Financial Conduct Authority). As for GBP deposit methods, the top exchanges should support FPS transfers (Faster Payments Service) and ideally credit/debit cards.

If you’re looking to buy Ethereum in the UK, the process remains the same:

  1. Find a cryptocurrency exchange below.
  2. Sign up for an account.
  3. Fund your account with GBP.
  4. Buy Ethereum if it’s available. If the exchange doesn’t have Ethereum. You can buy ETH instead, transfer it to a decentralised exchange like Uniswap (check first if Uniswap has Ethereum), and trade your ETH for Ethereum.

Or, if you’d like to know more about which exchanges we recommend, look at our comparison of the top rated UK crypto exchanges.

ExchangeFiat currenciesCryptocurrenciesDeposit methodsSite
Cex logoGBP, USD, EUR10+Bank transfer, credit card, debit cardVisit CEX
Coinjar logoGBP50+Bank Transfer (FPS), Visa, MastercardVisit Coinjar
Coinbase logoUSD, GBP, EUR150+Bank transfer (FPS), credit/debit cardVisit Coinbase

Cryptocurrency trading

Considering buying Ethereum? ETH Rundown

Ethereum is an open-source decentralized blockchain system. It also features its own cryptocurrency, Ether. ETH can be used as a platform to exchange many other cryptocurrencies and for the execution decentralized smart contract.

Vitalik Buterin first described Ethereum in a whitepaper published in 2013. Buterin and other co-founders secured funding through an online crowd sale. The team raised $18.3million in Bitcoin. Ethereum's price at the Initial Coin Offering (ICO), was $0.311, and there were over 60 million Ether sales. If we take Ethereum's current price, it means that the annualized return on investment (ROI), is more than 270%. This means that you almost quadruple your investment each year since 2014.

Officially, the Ethereum Foundation launched the blockchain in July 2015 under the codename "Frontier".

Ethereum's stated goal is to be a global platform that allows decentralized applications to be developed and maintained by users all over the globe. This will allow them to create and maintain software that is immune to censorship and downtime, as well as fraud.

The concept of a blockchain smart contracts platform was pioneered by Ethereum. Smart contracts are computer programs that execute the necessary actions to fulfill an agreement between multiple parties over the internet. Smart contracts were created to decrease the need for trusted intermediaries between contractors. This reduces transaction costs and increases transaction reliability.

The main innovation of Ethereum was the creation of a platform that could execute smart contracts using blockchain technology. This further enhances the already existing benefits and advantages of smart contract technology. According to Gavin Wood, co-founder of Ethereum, the blockchain was created as a "one computer for all planets" that can make any program more secure, censorship-resistant, and less susceptible to fraud. It runs on a global network of public nodes.

Ethereum's blockchain can host smart contracts in addition to other cryptocurrencies called "tokens" through its ERC-20 compatibility standards. This is the most popular use of the ETH platform: more than 280,000 ERC-20 compliant tokens have been released to date. These 40 cryptocurrencies make up the top 100 cryptocurrencies by market capitalization. The ETH to PHP exchange rate has seen a significant increase in interest since the advent of Play2Earn.

With the Ethereum 2.0 update, Ethereum will switch to proof of stake in 2022. Since the inception of Ethereum, this switch has been on the Ethereum roadmap. It would introduce sharding and a new consensus mechanism. The Beacon Chain will replace the current Ethereum chain and be used as a settlement layer to facilitate smart contract interactions on other chains.

The Arrow Glacier update to Ethereum was delayed until June 2022 in late 2021. Vitalik Buterin believes that the road to the endgame of the network will be marked by optimistic rollups as well as Zk-rollups.

Related:

author Marco Vela

A crypto obssessed digital marketer passionate about making a difference in the world. When he's not behind the computer he can be found hiking, camping and relaxing with his dog.