- Ethereum is the second biggest coin and one of the most traded in the market.
- Here is a detailed compilation of how to buy Ethereum on the top crypto exchanges.
Individuals new to the crypto market consistently seek the best and most secure means to invest in digital assets. They are usually concerned about blockchain complexities, key theft, wallet hacks, and corrupt exchanges stealing their funds.
However, newbies have hope, as they can learn how crypto works before buying it. Taking the appropriate precautions makes buying and protecting crypto easier than in the past.
Ethereum (ETH), the world’s second-largest digital asset, has become a favorite among crypto enthusiasts. Many choose Ethereum for its applications in Decentralized Finance (DeFi) and smart contract functionalities. Institutional investors are also showing increased interest in adopting Ethereum. Their actions follow the launch of the spot Ethereum Exchange-Traded Fund (ETF) in the United States.
Experts agree that the crypto market is currently in the bull cycle. As a result, buying Ethereum seems like a good investment, even though experts admit that the price may still test lower levels.
The safest way to buy Ethereum is to use a centralized and regulated exchange. These platforms act as intermediaries between buyers and sellers while charging users transaction fees. As a beginner, it is important to identify the best trading platform for your needs. Each platform presents pros and cons based on security, speed, or user experience.
So, choose platforms with intuitive interfaces and reliable customer support to ease your trading experience. Prioritize security measures like two-factor authentication (2FA) and cold storage of funds to protect your assets. Also, consider transaction fees, deposit fees, and withdrawal fees when making your choice.
Most exchanges don’t have a minimum purchase amount, meaning you can buy $10 worth of Ethereum. However, you have to decide whether the exchange fees justify the purchase.
Some well-known centralized crypto exchanges include Binance, Coinbase, Bitfinex, Kraken, KuCoin, Gemini, Coincheck, BingX, Bitstamp, and Bybit.
Coinbase
Coinbase is the biggest crypto exchange in the United States and one of the most trusted platforms on which to buy Ethereum. Coinbase offers a highly secure trading environment with cold storage for most assets and FCA registration, and two-factor authentication (2FA) adds an extra layer of protection for users. Coinbase charges 1.49% per transaction on its standard platform.
Meanwhile, Coinbase is a trusted partner and custodian powering 8 9 approved ETH Exchange-Traded Funds (ETFs) launched in July 2024. These include products from BlackRock, 21Shares, Invesco, Franklin Templeton, VanEck, Bitwise, and two different funds from Grayscale.
After choosing Coinbase as your preferred exchange to buy Ethereum, the next step is to open an account. This is similar to opening a brokerage business account, which requires your name, address, social security number, identification, and other details. Verification is typically the last step in the account opening procedure. This requires uploading documents to verify your identity and ensure the account passes regulatory requirements.
You must choose a deposit method after passing all the necessary checks. Various methods exist, including bank wire transfers, credit and debit card payments, and Single Euro Payments Area (SEPA) transfers.
Follow these steps to buy Ethereum on Coinbase,
- Create a Coinbase account.
- Add a payment method.
- On Coinbase.com, select Buy & Sell. On the Coinbase mobile app, tap the ( + ) Buy on the Home tab.
- On the Coinbase mobile app, search for Ethereum by typing “Ethereum” into the search bar. On Coinbase.com, click the Buy panel to search and select Ethereum.
- Enter the preferred amount to buy.
- Tap “Preview buy” to ensure everything is correct.
- If everything looks good, confirm your purchase by clicking “Buy now”.
- Once the order is processed, you’ll be taken to the confirmation screen.
Binance
Binance is the world’s largest cryptocurrency in trading volume, supporting over 500 cryptocurrencies and over 180 countries. Binance has an intuitive platform that appeals to both beginners and experienced traders. US users must trade on Binance.US, which differs slightly from the Binance service available to the rest of the world. However, it is much more compatible with US trade regulations.
Binance trading fees are some of the lowest in the industry. Customers are charged 0.1% on every trade, meaning if you traded 1 ETH, you would only be charged 0.001 ETH. The exchange offers fee-free trading on multiple ETH pairs.
Binance does not charge deposit fees for crypto deposits. Users, however, pay a flat fee for withdrawals to cover the transaction costs of moving the cryptocurrency out of their Binance account. Binance takes security very seriously, and customers are asked to set up two-factor authentication when they register an account.
Binance has partnered with companies like Simplex and SEPA, so you can fund your account by using your credit card or a wire transfer. You can also use some debit cards for this purpose.
You won’t have to pay any transaction fees if you decide to use SEPA transfers or wire deposits to fund your account.
Also, Binance has good customer support via Live chat, X (formerly Twitter), and Discord accounts. To buy Ethereum on Binance, follow these steps;
- Create a free account on the Binance website or the app.
- Click on the “Buy Crypto” link on the top of the Binance website navigation to know about the available options to buy Ethereum in your country.
- Check the payment details and fees. You have 1 minute to confirm your order at the current price.
- You can store your ETH in your personal crypto wallet or simply hold it in your Binance account.
Kraken
Kraken is amongst the world’s leading crypto exchanges, trusted by over 10 million users. The trading platform has an intuitive interface, easy for users to navigate. You can set up or view Ethereum transactions effortlessly on Kraken, without network switching. This platform allows you to buy Ethereum with seven different fiat currencies. As a result, you don’t need to visit other exchanges before you start trading.
Kraken offers the security, support and simplicity people often look for when buying cryptocurrencies like Ethereum. Users can fund their account with cash, cryptocurrency, or a debit card on Kraken.
The exchange has a reputation and commitment to security to ensure that your assets and privacy stay safe, always. Kraken has introduced a powerful, self-custody Ethereum wallet built to safely and securely store your ETH. The Kraken Wallet leverages battle-tested cryptography to securely encrypt users’ private keys, capitalizing on mobile phones’ security hardware and OS security features.
Kraken offers one of the lowest fees on the market. Trading fees are between 0% and 0.40%. Kraken fees also depend on 30-day trading volume and the traded currency pair.
To buy Ethereum on Kraken, follow the three steps below;
- Create a free Kraken account.
- Fund your account using your preferred payment method.
- Buy Ethereum with as little as $10.
Bitfinex
Bitfinex is one of the leading exchanges in the world that is geared towards crypto investing and trading. Based in Hong Kong, Bitfinex is currently the largest crypto exchange in the world by volume. Bitfinex offers a safe and convenient way to buy Ethereum. Users can deposit and withdraw USD, EURO, GBP and JPY directly to and from their bank accounts, with an estimated waiting time of 5-7 days.
The fees imposed by Bitfinex are relatively fair, when compared to other exchanges. Bitfinex keeps its safety measures secret, hence making it difficult to truly assess the security level of the exchange. However, Bitfinex stores 99.5% of its clients’ funds in cold storage. The remaining 0.5% of the funds are kept in hot wallets to provide the liquidity needed for the exchange.
You can either use the Bitfinex mobile or website to buy Ethereum. Here are the steps to do that,
- Create a Bitfinex account, then log in
- Go to the Deposit page.
- In the Cryptocurrencies section, choose ETH and generate a deposit address on the Exchange wallet.
- Send the ETH to the generated deposit address.
- Once the funds arrive in your wallet, you can trade them for ETH.
KuCoin
KuCoin has gained an excellent reputation since its founding, with over 18 million registered users, spanning across over 200 countries. However, KuCoin isn’t licensed in the United States, so it’s a less popular choice for US crypto customers. The Ascent recognized KuCoin as the Best Crypto Exchange and App for enthusiasts in 2022.
The exchange has an excellent reputation when it comes to security. KuCoin prioritizes users’ safety through its escrow services, feedback rating system, and advanced security features. Additionally, KuCoin regularly validates the safety of your funds through Proof of Reserves.
You can buy ETH instantly on KuCoin with a selection of over 70 payment methods, including credit and debit cards, bank transfers, fiat deposits, and SEPA. This gives you the freedom to define how you want to purchase ETH in the way that best suits your needs.
You can also buy Ethereum on KuCoin’s Peer-to-Peer (P2P) trading platform without charges or fees. Thus, you can buy ETH freely without worrying about extra charges eating into your profits.
How to buy Ethereum on Kucoin,
- Register an account.
- Verify your identity.
- Fund your account.
- Buy Ethereum.
Gemini
Gemini is a US-based, beginner-friendly crypto exchange offering comprehensive trading. Users can access basic trading and managing features like setting up recurring buys on the Gemini’s website or mobile app. The free app is available for both iOS and Android users. Both versions mimic many of the same functions and features as the desktop site and are highly rated by app store users.
Gemini has a simple interface for new crypto investors and an advanced platform, ActiveTrader, for experienced traders.
To ensure safety, Gemini holds most of its assets in an offline, cold storage system, with only a portion of each investor’s holding held in its Hot Wallet. Additionally, all Gemini accounts are required to implement two-factor authentications, boosting security.
However, Gemini fees on its regular exchange and mobile platforms are higher than competitor exchanges. Fees range from 0.3% – 3.49%, depending on payment method and platform. Gemini doesn’t charge transaction fees for deposits from U.S. bank accounts or wire transfers, although your bank might.
Follow these steps to buy Ethereum on Gemini,
- Create an account on Gemini.
- Launch the website, Select a crypto from the Trade page.
- Select “Buy” and choose whether you would like to make a single buy or Recurring buy.
- Enter the order amount then click “Continue”.
- Select your payment method to move to the confirmation screen.
- Once reviewed, click “Confirm” for your order to immediately execute.
Coincheck
Coincheck is a globally recognized popular Japanese-based crypto exchange. The exchange operates brokerages in Japan, the United States, China, and Australia. The exchange has a well designed and intuitive interface, appreciated by new users and those with little or no experience of financial exchanges.
Coincheck does not charge a transaction fee, but it does charge fees for deposits and withdrawals. The fee amount depends on the currency that transfers, withdrawals, and payments are made. You can fund your Coincheck accounts using bank transfer, debit and credit card if adding fiat currency.
Coincheck is a safe platform licensed and regulated by Japanese regulatory authorities. The exchange implements strict KYC and AML policies to comply with appropriate regulations. Coincheck has two tiers of accounts that come with two levels of personal identity verification requirements. Wallets hosted by Coincheck offer 2FA security and ‘cold storage.’ This means they are generally not accessible online by anyone who hacked the exchange
Follow these steps to buy Ethereum on Coincheck,
- Download the Coincheck app.
- Create an account.
- Deposit funds into your account.
- You can then buy Ethereum on the exchange.
BingX
BingX is great for crypto traders of all experience levels. The exchange has since grown to operate in over 100 countries since it launched in 2018. BingX takes reliability and security very seriously, incorporating Bank-Grade custody solutions and regular operation/maintenance reviews.
Buying Ethereum on is fairly easy and straightforward. The goal of BingX is to ensure that trading is made easy and accessible for all. BingX offers lower trading and handling fees compared to other exchanges.
To purchase Ethereum via bank transfer,
- Create an account on BingX.
- Complete your KYC verification.
- Once verified, you’ll find the “Buy Crypto” button on your account.
- Simply select the fiat currency and enter the amount you wish to transfer.
- Follow the instructions to transfer fiat money to your BingX Fiat Account.
- You are now ready to purchase Ethereum with your fiat money.
Additionally, BingX accepts third-party payment methods, allowing customers to purchase Ethereum using Google Pay and Apple Pay after completing the KYC verification.
Bitstamp
The Bitstamp exchange has continued to serve customers since 2011, making it one of the oldest crypto exchanges. Bitstamp offers a simple, user-friendly platform that makes it easy for newbies to buy and sell crypto. The exchange is focused on providing investors real-time market data streams and reliable order execution.
Users can buy Ethereum using Bitstamp’s easy internet trading interface, active trading platform, or mobile app. The mobile app is available for Android and iOS devices in the Google Play Store and App Store.
Bitstamp stores 95% of users’ assets stored offline to enhance security. For additional security, the platform allows you to set up and use multi-factor authentication when signing up for a new account.
Fees begin at 0.30% and decrease with increasing trading volume. Note that you do not need an advanced trading platform for the lowest fees.
Here’s how to buy Ethereum with your card:
- Create an account, then log in.
- Click on the Buy button.
- Enter the amount of cryptocurrency you wish to buy.
- Choose ETH from the list of cryptocurrencies.
- Select your linked card as the payment method for the purchase.
- Review the preview of your purchase and select Confirm Buy.
Bybit
Bybit provides a user-friendly desktop and mobile interface for quick and safe transactions. The exchange is headquartered in Dubai and possesses crypto licenses in Canada, Cyprus, and Kazakhstan. Bybit’s platform is accessible to a global audience, with translations in multiple languages. However, it excludes certain jurisdictions like the USA, Syria, and Quebec in Canada.
Bybit reduces the risk of major hacks by segregating its system into cold and hot wallets, ensuring that most of its funds are stored offline. You can buy ETH on Bybit in just a few clicks. Bybit maintains a 99.9% availability track record, even during market volatility.
To buy Ethereum on Bybit, follow these steps:
- Download the Bybit App.
- Register and verify your account.
- Tap on Buy Crypto, then select the Express button.
- Enter the desired amount from your preferred fiat currency to ETH.
- Proceed with the payment when you select your preferred service provider.
- Complete the KYC process and fill in the order by entering your card information.