How to Buy Ethereum in 2024

Ethereum (ETH) is known as a “Blue-Chip” coin owing to its smart contract capability, DeFi innovations, deflationary supply, competent performance in the cryptocurrency market, and more. It currently ranks at second place in terms of market cap and is the largest smart contract coin, making it the optimal investment for most crypto enthusiasts.

This guide will cover the top platforms for buying Ethereum in 2024, the fees you’ll encounter, and more.

Best Exchanges to Buy Ethereum in Australia

Best Platforms to Buy and Trade Ethereum in Australia

In this section of the guide, you will explore best platforms to purchase or trade Ethereum.

Buy Ethereum Using Cryptocurrency Brokers in Australia – The Easiest Way

Cryptocurrency brokers are websites and apps that let traders deposit fiat or crypto to trade coins. These platforms are the ideal choices if you want to trade ETH since they make it easy to acquire digital assets by providing users with an intuitive UI, customer support, and help documentation.

Coinbase

Coinbase is the ideal choice due to its simplistic design principles that make it easy for the users to trade. The platform hosts multiple trading pairs for Ethereum and an educational section to help those with less investing experience.

Pepperstone

Pepperstone is crypto broker that lets you withdraw coins to their digital wallet for better security. Moreover, the users can also navigate around the demo account to test the broker’s services and various deposit methods, including PayPal.

Crypto.com

If you need an interactive mobile app for your Ethereum buying activities, then Crypto.com is an excellent option because it offers a diverse set of features like staking, trading, and a DEX. Also, the exchange provides a desktop version of the app where you can use advanced tools for trading.

Best Wallet to Buy and Store Ethereum – ETH Wallet Comparison

It is in the best interest of the users to store their Ethereum holdings in their personal cryptocurrency wallets to experience robust security and convenience. With these wallets, investors can transfer coins, stake, and connect to DEXs. Also, some Bitcoin wallets like Trust Wallet, Ledger Nano X, and Trezor Model T are compatible with various other coins, including Ethereum.

Trade Ethereum Using CFDs in Australia- Best for Trading

Another way to invest in Ethereum is by signing up on a crypto broker platform offering ETH through Contract For Differences (CFDs). This is a derivative product which means you won’t have real ownership of the asset and must leave your invested funds with the broker.

Despite not providing full ownership of Ethereum, these platforms often have easier investing processes. Below you’ll find the top options that provide quick deposit methods, great security, and convenient sign-up processes.

Pepperstone

This CFD broker offers a wide range of services like copy trading and charts to help beginners trade with ease. Additionally, you can open a demo account to learn the risks of investing before depositing real money.

Plus500

An amazing option for expert traders is Plus500. Owing to its advanced set of tools and user-friendly interfaces for buying Ethereum, users can do a lot on this platform. However, if you’re less experienced in investing, you can use Plus500’s demo account and educational resources to practice and learn.

Eightcap

Eightcap offers over 250 crypto derivatives with options to short or long coins like Bitcoin, Ethereum, and Dogecoin. Moreover, this CFD broker offers a dedicated learning section and analytics that track recent market developments.

Best Apps to Buy Ethereum in Australia- Most Convenient

The apps listed below provide outstanding services to investors, including but not limited to staking programs, cashback spending offers, margin trading, Cryptowatch, and more.

In addition, all these apps support instant conversion sections, letting you buy crypto immediately and conveniently with a bank card. There are some specific apps to buy a cryptocurrency and sometimes they are dedicated apps like Ethereum apps or Bitcoin apps.

Buy Ethereum With Exchanges in Australia – The Cheapest Way

Using centralized cryptocurrency exchanges is one of the most convenient and cost-effective options to trade, buy, and hold Ethereum. These exchanges offer a favourable fee structure followed by advanced security options, customer support service, and more.

The selected options disclosed below further reduce the trading fees based on your 30-day trading volume. On top of that, Binance and KuCoin have native tokens, which you can use to pay the trading fee to claim a further discount on fees by 25%, perfect for investors looking to trade often.

Buy Ethereum on Binance: Step-By-Step Guide

Buy Ethereum Using Decentralized Exchanges (DEX) in Australia – The New Way

DEXs are peer-to-peer marketplaces where cryptocurrency investors can trade, stake, and enter liquidity pools. These applications are built on top of the blockchain network and are not regulated by any government authority.

Due to the decentralised nature of DEXs, there is no sign-up or verification process required, making it perfect for investing anonymously. Have a look at the top three decentralized platforms:

Can You Buy Ethereum Using P2P Services in Australia?

Here are some peer-to-peer platforms if you’re interested in buying Ethereum through an alternative method to exchanges and CFD brokers.

Can I Buy Ethereum Using Other Trading Platforms in Australia?

Since Ethereum is an established cryptocurrency, it’s available on the majority of crypto platforms. This means you can find Ethereum Below you can analyse the table to see if ETH is available on your desired exchange, along with the expected fees.

What Is the Difference Between Buying Ethereum and CFDs?

When buying Ethereum, you can spend, store, and trade it whenever you like. However, when using an Ethereum CFD broker, you purchase a derivative product instead. This means you’ll invest in Ethereum but not actually own any real assets.

Best Ways to Buy Ethereum in Australia

This section is a rundown of the best payment methods for buying Ethereum.

Buy Ethereum Instantly With Online Banking in Australia- The Fastest Way

Online banking is one of the fastest modes to buy cryptocurrencies including Ethereum. Available on the top of crypto platforms like Coinbase and Binance, this payment method is fast, and the apps often remember your bank details for next time. You can also opt to set up a recurring payments option if you plan to use a DCA strategy.

Buy Ethereum With PayPal in Australia- The Safest Way

PayPal has added a crypto market section where you can buy BTC, BCH, LTC, and ETH directly from the app itself. However, this facility is only available in the U.S and U.S Territories (except Hawaii), hence the residents of Australia cannot directly buy Ethereum from PayPal. Alternatively, you can use PayPal as a payment method for depositing funds into brokers or exchanges.

Buy Ethereum Using a Debit Card in Australia- The Cheapest Way

Most platforms accept debit cards as a deposit option to fund the account. Although affordable, it is recommended to avoid using debit cards in the instant buy section because the fees are significantly higher in this scheme. The top option in this category is Coinbase.

Buy Ethereum Using a Credit Card in Australia

Crypto.com is an ideal crypto exchange for buying Ethereum using a credit card as it offer a premium experience while buying Ethereum or any other cryptocurrency. Furthermore, this exchange also extends several interesting features to users including DEX, staking, DeFi wallet, educational resources, wallet extension, and more.

Best Platforms to Buy Ethereum in Other Countries

Due to regulations and laws, some exchanges are restricted from operating in certain regions, creating discrepancies in the top providers. If you’d like to find out more, the table below discloses the top provides and fees in each country.

What Are the Fees When Trading Ethereum in Australia?

The table below calculates the fees you’ll pay if you bought 1000 AUD worth of Ethereum and held it for 30-days.

Cheapest Way to Buy Ethereum in Australia

Binance, KuCoin, and BitFly offer the most affordable trading fee structures. These costs can be further reduced if you will use the native tokens of the exchanges to pay the trading fee or have a high 30-day trading volume.

Fastest Way to Buy Ethereum in Australia

The platforms selected underneath were chosen for their fast sign-up and deposit processes. Some of these also offer instant buy sections which allows you to bypass the trading interface to directly buy Ethereum by entering your bank card details.

How to Buy Ethereum Anonymously in Australia?

This part of the guide covers how to buy Ethereum without revealing your identity.

How to Buy Ethereum Without Registration or KYC in Australia?

A decentralised exchange is the best choice when buying ETH without creating an account or fulfilling a KYC process. These dApps will not request your details, hence facilitating anonymous trading. The top decentralized exchange built on top of the Ethereum is Uniswap.

How to Buy Ethereum Without Verification in Australia?

Most cryptocurrency exchanges (centralised) require the users to complete the KYC verification to start trading cryptocurrencies like Ethereum, depositing fiat currency, and executing withdrawals. However, some exchanges like Kucoin allow P2P crypto trading without KYC verification. Alternatively, you can use an Ethereum DEX.

Can You Buy Ethereum Offline in Australia?

To buy Ethereum, you’ll need an internet connection to deposit funds, trade, and transfer coins. Therefore, you cannot buy ETH offline.

Should You Buy or Sell Ethereum?

Ethereum is one of the best projects that go beyond the concept of digital currency. Innovations like smart contracts and decentralised applications followed by a diverse development community make Ethereum a promising cryptocurrency to invest in. If you’re undecided on the project, here are some pros & cons:

In case you decide to sell your ETH and buy other cryptocurrencies, you can easily learn how to do it by reading the following guides:

• How to buy Bitcoin in Australia

• How to buy Litecoin in Australia

• How to buy XRP in Australia

Do You Need to Pay Tax on Ethereum in Australia?

Australian Taxation Office (ATO) requires individuals to pay tax on net capital gains from selling, trading, spending or gifting cryptocurrencies like Bitcoin and Ethereum. It is to be noted that the amount of tax is calculated based on your tax bracket and how long you hold. For more information, you should check the official website of ATO.

Ethereum Price Prediction: What Is the Future of Eth?

Ethereum’s future price is unpredictable but looks positive based on historical performances in bull runs. Here’s how ETH is performing now:

[graph – current Ethereum price]

What Impacts Ethereum Price?

Several factors can impact Ethereum’s price and swing it in either direction. If you’d like to find out more, here are the main causes:

• Demand: An increased demand can increase the price as more investors want to acquire ETH and fewer people are selling.

• New Developments: Technical development in Ethereum, like EIP-1159, The Beacon Chain, The Merge, Berlin Hard Fork, etc, cast a positive impact on price. Currently, ETH’s fees are too high, preventing common users from using the coin as a payment method, but the sharding will make transacting in ETH practical with a low gas fee

• Competition: Many smart contract projects like Cardano have been called the next “Ethereum killer” since they offer lower fees and faster transactions. This means similar projects taking a slice of Ethereum’s market share and affecting its price.

• Regulation: Cryptocurrency adoption must rise for coins to gain value since new investors enter the market.

• Market status: Bull and bear run heavily dictate how the prices will ultimately shift. During bear runs, prices are likely to fall and not grow, while during bull runs, we can expect to see new all-time highs with significant market growth.

Historical Ethereum course: Major milestones in the history of Ethereum

Here is a historical chart of how Ethereum has performed since its creation.

Current Price Prediction News

If you’re interested in price prediction news, here’s what experts have to say:

[related content – price prediction news]

Other Ways to Make Money With Ethereum in 2024

Ethereum is a dynamic coin, offering multiple ways to make money from it The following section will expand on how you can earn money with Ethereum in 2024.

Stake Ethereum Using DeFi or CeFi in Australia

Staking is a way to earn rewards for helping the network by allocating your Ethereum to a pool. Your Ethereum can be in a lock or unlocked stake, which changes the reward amount. During this process, you cannot withdraw or spend your Ethereum. Binance is one of the best options for Ethereum staking as the platform features up to 5.20% APY.

Buy Ethereum Using ETPs (ETFs & ETNs) in Australia

Exchange-traded products (ETPs) are securities found in the stock exchange. The best platform for buying Ethereum ETPs in Australia is VanEck.

Buy and Sell NFTs Using Ethereum in Australia?

Non-fungible tokens have become the trend since 2021, with millions of wallets storing or transferring NFTs across multiple blockchains including Ethereum. These unique ERC-721 tokens make them the ideal technology for making tickets, storing digital art, and more. OpenSea is the largest platform for selling and buying NFTs using Ethereum.

Buy Stocks & Shares in Companies Owning Ethereum

Coinbase is the largest publicly traded company holding significant quantities of Ethereum. This is to provide liquidity to their platform and hold it as an investment asset for the long term. You can purchase Coinbase stock with a premium broker like Pepperstone.

Ethereum Mining in Australia

Mining is an operation in which your computer solves complex mathematical problems to verify the transaction and earn block rewards. However, Ethereum has completed the merge to a Proof-of-Stake consensus mechansim. This means users will be rewarded based on the amount of Ethereum staked rather than computational power. Therefore, you cannot mine Ethereum anymore.

Use Ethereum Faucets

Cryptocurrency exchanges offer faucets, which are quizzes or courses you complete to recieve cryptocurrency rewards. The most beginner-friendly option for doing this activity is with Coinbase, as they offer a variety of faucets.

What Cryptocurrencies Are Similar to Ethereum?

This table covers similar smart contract cryptocurrencies that you might like to research and potentially invest in:

Is It Still Worth Investing in Ethereum or Not?

Ethereum is definitely worth investing in right now as the coin is expected to experience some major technical developments in the upcoming years. The merge is already live and the Sharding is expected to go live in 2023-2024. This will result in a reduced fee and faster transactions, making the coin more cost-effective and practical to use on a daily basis. Also, Ethereum is the first of its kind in the smart contract market, giving it a first mover’s advantage. The coin is ideally a long-term HODL opportunity due to its promising potential in the developing web 3.0 market.

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