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How to Buy Ethereum in the UK in 2023
Ethereum (ETH) is known as a “Blue-Chip” coin owing to its smart contract capability, disinflationary supply, and competent performance in the cryptocurrency market. It is the largest smart contract network, making it the optimal investment for most crypto enthusiasts.
In the UK, investors can purchase Ethereum through brokers, exchanges, P2P marketplaces, and others. This guide will cover the top platforms for buying Ethereum in 2023, the fees you’ll encounter, and more.
Best Exchanges to Buy Ethereum in the UK
Buy Ethereum on Etoro: Step-By-Step Guide
Step 1: Open eToro
Go to the official eToro website and press the “Start Investing” button at the center of the screen. Now type in your username, email, and password, and accept the terms & conditions. Next, access your dashboard and verify your email.
Step 2: Verify your identity
Provide eToro with your personal information like your name, surname, and physical address. Then verify your identity by uploading a picture of your passport, driver’s license, or ID card.
Step 3: Deposit
Using one of the deposit methods available, deposit funds into eToro. The platform accepts bank transfers, debit cards, PayPal, and various online banking apps.
Step 4: Buy Ethereum
Head to the cryptocurrency section and select Ethereum. Click “Trade” and input how much money you want to convert to ETH. Finally, press “Open Trade” to acquire the token.
Additional Step: Send Ethereum to a wallet
eToro – The Overall Best Way to Buy Ethereum in the UK
eToro is our top choice for buying Ethereum, as this platform offers straightforward interfaces, multiple deposit options, and a demo account. Moreover, you can learn how to trade cryptocurrencies with the eToro academy, making eToro ideal for beginners. Here are some interesting stats about the platform:
| 💰 Trade Values: | CFDs, ETFs, Currencies, Indices, Cryptocurrencies, Stocks, and Commodities. |
| 📊 Software: | Web application and smartphone application |
| 🏆 Demo Account Available: | Yes |
| 📺 Ease of use: | Excellent |
| ⭐ Our rating: | 5/5 |
| 📱 App Available: | iOS and Android |
| 🧩 Regulation: | Cyprus Securities and Exchange Commission (CySEC) |
| 💰 Fees: | 1% of purchase order |
| 🔁 CFDs Available: | Yes |
| ⚽ Social Trading: | Yes |
How We Compare
In the comparison table, we include crucial information such as trade values, fees, and ease of use so if you are new to cryptocurrencies, you know which platforms are the easiest to navigate and where to go to avoid hefty transfer fees. For your peace of mind while trading, we state whether or not each crypto is regulatory-approved and by which institutions.
We even add our own overall rating of each crypto coin.
There is a lot happening in the cryptocurrency market right now, with a variety of tokens created on different platforms and a mode of operation that is very unlike that of traditional financial institutions. Both novice and experienced investors can use our comparison tables to simplify the process of identifying the right cryptocurrencies for them.
As with any investment, the decision to enter the cryptocurrency market requires thorough research. You can rely on us to provide the most up-to-date and accurate information, as we only use credible and reputable sources for our content. This puts investors in the best position to make smart crypto decisions.
Best Ethereum Broker UK – Platforms to Buy and Trade Ethereum
In this section of the guide, you will explore the best platforms to purchase or trade Ethereum.
Buy Ethereum using cryptocurrency brokers – 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 in the UK since they offer easy methods for acquiring digital assets.
| Provider | Fee (GBP 1000) |
| 🥇 Coinbase | The spot trading fee starts at 0.6%. |
| 🥈 eToro | £8.60 |
| 🥉 Crypto.com | The spot trading fee starts at 0.0750%. Varies based on trading level. |
Coinbase
Coinbase is the ideal choice due to its simplistic design principles that make it easy for users to trade. The platform hosts multiple trading pairs for Ethereum and an educational section to help those with less investing experience.
eToro
If you are searching for the best Ethereum broker in the UK, eToro is the only CFD (Contract For Difference) 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 users to store their Ethereum holdings in their personal cryptocurrency wallets to experience robust security and convenience. With these wallets, investors can transfer coins 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.
| Provider | Wallet Type |
| 🥇 Ledger Nano X | Hardware |
| 🥈 Trezor Model T | Hardware |
| 🥉 MetaMask | Software |
How to sell Ethereum in 2023 using Etoro?
Selling coins like ETH is a smooth process with eToro. Here’s a simple guideline for cashing out your investment:
Step 1: Sign in to eToro and head over to the cryptocurrencies tab. Select ETH to open the trading interface.
Step 2: At the top of the page, select the sell option and input the amount of ETH to exchange. Review the order and press “Open Trade” to finish.
Buy Ethereum Using CFDs – 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.
| Provider | Fee (GBP 1000) |
| 🥇 eToro | £8.60 |
| 🥈 Eightcap | Market Spread |
eToro
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.
Eightcap
Eightcap offers over 250 crypto derivatives with options for going short or long on coins such as 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 – 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, letting you buy crypto immediately and conveniently with a bank card.
| Provider | Fee (GBP 1000) |
| 🥇 Coinbase | The spot trading fee starts at 0.6%. Varies based on trading volume. |
| 🥈 Crypto.com | The spot trading fee starts at 0.0750%. Varies based on trading level. |
| 🥉 Kraken | £2.25. Varies based on trading volume. |
Buy Ethereum on eToro App: Step-By-Step Guide
Step 1: Create an account
Sign up for a new account with eToro and provide your personal details.
Step 2: Verification
Next, verify your information so you can begin trading ETH.
Step 3: Deposit money
Then deposit money into your account using one of the multiple payment methods.
Step 4: Buy ETH
Open the cryptocurrency section and find ETH. Click on the crypto, and a buy page will prompt up. Now input the amount you want to purchase and click “Open Trade” to finish.
Buy Ethereum With Exchanges – The Cheapest Way
Using a centralized cryptocurrency exchange is one of the most convenient and cost-effective options to trade, buy, and hold Ethereum in the UK. These exchanges offer a favorable fee structure along with advanced security options, customer support service, and more.
The selected options disclosed below further reduce the trading fees based on a 30-day trading volume. On top of that, Binance and KuCoin have native tokens, which allow investors to claim further discounts on fees.
| Provider | Fee (GBP 1000) |
| 🥇 Binance | The spot trading fee starts at 0% and goes to 0.1%. |
| 🥈 KuCoin | The spot trading fee starts at 0.1%. |
| 🥉 Kraken | £2.25 |
Buy Ethereum on Binance: Step-By-Step Guide
Step 1: Open Binance and register
Go to the Binance homepage and press the register button at the top. Then provide your email and a password. Next, verify your email address and provide Binance with information about yourself. Then verify your identity by uploading a picture of your government-issued document.
Step 2: Deposit
Now, deposit funds into Binance using your preferred payment method.
Step 3: Open the trading interface
Next, open the trading interface and search for ETH. Then click the relevant trading pair to the currency you’ve deposited.
Step 4: Complete the trade
Finally, fill out the box at the center of the screen. Choose the order type and the amount of money you want to exchange, then click the “Buy” button to complete the transaction.
Additional Step: Confirm the transaction using the blockchain explorer
Blockchain technology is extremely transparent, and you can view all historical transactions. Websites like Etherscan is a great tool to track the progress and status of your Ethereum-based transactions.
Buy Ethereum Using Decentralized Exchanges (DEX) – 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 decentralized 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 below:
| Provider | Fee (GBP 1000) |
| 🥇 Uniswap | Varies |
| 🥈 SushiSwap | Varies |
| 🥉 Curve | Varies |
Can You Buy Ethereum Using P2P Services?
Here are some peer-to-peer platforms if you’re interested in buying Ethereum in the UK through an alternative method to exchanges and CFD brokers.
| Provider | Fee (GBP 1000) |
| 🥇 Binance P2P | £0 – £3.00 |
| 🥈 KuCoin P2P | £0 |
| 🥉 Paxful | Varies |
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.
- No Liquidity issues.
- Brokers issuing Ethereum CFDs offer easier buying processes.
- No need to set up a crypto wallet and store coins.
- Must verify your identity before using a broker to buy CFDs. This eliminates fraudulent activities on the platform.
- CFDs are only investment assets, and you cannot use your ETH to buy products or services.
- You have no ownership of the real coin.
- Significantly more fees than buying the real asset.
- You must leave your investments with the CFD issuer and cannot withdraw to a secure crypto wallet (eToro is an exception).
What Are the Fees When Buying Ethereum in the UK?
The table below calculates the fees you’ll pay if you buy £1,000 worth of Ethereum and hold it for 30-days.
| Platform | eToro Broker | Binance Exchange |
| Deposit fees | £0 | £0 |
| Purchase fees | £8.60 | £0.86 |
| Holding fees | £0 | £0 |
| Selling Fees | £10 | £0.86 |
| Payout fees | £4.35 | £13 |
| Total fees | £21.75 | £11.30 |
Cheapest Way to Buy ETH in the UK
Binance, KuCoin, and BitFly have the best fee structures starting at 0.01%. These costs can be further reduced if you will use the native tokens of the exchanges or have a high 30-day trading volume.
| Provider | Fee (GBP 1000) |
| 🥇 Binance | The spot trading fee starts at 0.1%. Varies based on trading volume |
| 🥈 KuCoin | The spot trading fee starts at 0.1%. Varies based on trading volume |
| 🥉 BitFly | £0 |
Fastest Way to Buy ETH in the UK
The platforms selected underneath were chosen for their fast sign-up and deposit processes. Also, they do not have complicated interfaces, and some offer instant buy sections. This means you can input your bank card details to buy ETH fast without encountering trading pages.
| Provider | Fee (GBP 1000) |
| 🥇 eToro | £8.60 |
| 🥈 Coinbase | The spot trading fee starts at 0.6%. Varies based on trading volume. |
| 🥉 Crypto.com | The spot trading fee starts at 0.4%. Varies based on trading volume. |
How to Buy Ethereum Anonymously in the UK?
This part of the guide covers how to buy Ethereum without revealing your identity.
How to buy Ethereum without registration or KYC?
A decentralized 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 DEX to use is Uniswap, thanks to its compatibility with multiple wallets.
Can you buy Ethereum offline?
To buy Ethereum, you’ll need an internet connection to deposit funds, trade, and transfer coins. Therefore, you cannot buy ETH offline.
Exchanges like Binance will let you trade cryptocurrencies for Ethereum without completing an ID verification process. However, you cannot deposit fiat currency, and there will be withdrawal limits.
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 decentralized 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:
- Ethereum is the largest smart contract cryptocurrency.
- Ethereum is an established coin with the second largest market cap.
- The network is fast and relatively inexpensive
- Large, diverse, and growing community.
- Fees are ultra-high for making transfers.
- Ethereum has scaling issues, which is evident with the high gas fees.
- Although ETH is considered a blue chip coin, its price is highly volatile.
- ETH has a huge market cap, so the profitability margins aren’t as big.
Alternatively, if you don’t want to put your pounds into ETH right now, check out these guides to buying other coins in the UK:
Remember, you must pay capital gains tax on crypto that you’ve sold at a profit in the UK
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.
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 are 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.
Other Ways to Make Money With Ethereum in 2023
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 2023.
Stake Ethereum using DeFi or CeFi
Staking is a way to earn rewards for helping the network by allocating your Ethereum to a pool. Your Ethereum can be in a locked or unlocked stake, which changes the reward amount. During this process, you cannot withdraw or spend your Ethereum.
Buy Ethereum using ETPs (ETFs & ETNs)
Exchange-traded products (ETPs) are securities found in the stock exchange. The best platform for buying Ethereum ETPs is VanEck.
Buy and sell NFTs using Eth?
Non-fungible tokens have become the trend since the 2021 bull run. These unique tokens make them the ideal technology for making tickets, storing digital art, and more. OpenSea is the largest platform for selling and buying Ethereum NFTs.
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 eToro.
Ethereum mining
Mining is an operation in which your computer solves complex mathematical problems to verify the transaction and earn block rewards.
Use Ethereum faucets
Cryptocurrency exchanges offer faucets, which are quizzes or courses you complete for a cryptocurrency reward. The most beginner-friendly option for doing this activity is with Coinbase, as they offer a variety of faucets.
What to Consider Before Buying Ethereum in the UK
There are certain considerations to take into account before buying ETH:
Fees: All brokers charge their services, but some of them are more expensive than others.
Limits: There are limits to how much you can deposit and withdraw using bank transfer, in addition to trading limits. All of those should be taken into account when selecting the right platform for you.
Speed: A bank transfer isn’t the fastest payment option out there, but you can minimize the time required to deposit by selecting a broker that offers instant transactions.
Security: Bank transfers are safe and secure, but you also need to make sure that the broker of your choice also has all the security protocols in place to maximize your protection.
User experience: Some crypto trading platforms are more convenient to use than others.
What Are the Alternative Payment Methods to Buy Ethereum in the UK?
Instead of using an Ethereum broker, you can always use some of the methods from the list below:
E-wallets: There are several great e-wallet options, with the most popular one being PayPal. They are fast, secure, and convenient. Moreover, they are accepted by many online crypto brokers.
Credit /debit cards: If you have a bank account, chances are you already have a credit or debit card. Some of the most popular brands are Visa, Mastercard, American Express, and Discover.
Apple Pay: If you own an Apple device, you can set up its unique payment method, which offers fast and affordable transactions. Moreover, plenty of online brokers accept this method.
Trading cryptocurrency is high-risk and speculative.
FAQs
What Is the Best Provider to Buy Ethereum in the UK?
eToro is the ideal platform for buying Ethereum in the UK due to its straightforward trading pages. The platform also lets you withdraw your coins for better protection.
What Is the Cheapest Provider to Buy Ethereum in the UK?
Binance has the best fee structure and the use of native cryptocurrency (BNB) further reduces fees by 25%. The platform features several trading pairs for ETH, staking programs, and numerous deposit options for UK investors.
Is There a Limit to How Much ETH I Can Buy?
There is no limit to how much ETH you can buy when using a crypto broker, as liquidity is not an issue. However, with DEXs and CEXs, you can encounter a limit if there isn’t enough trading volume. Nevertheless, large crypto exchanges have huge liquidity, so it’s unlikely you’ll face a limit issue with them.
Can You Buy Ethereum on the Blockchain?
You cannot purchase ETH directly from the blockchain. To acquire Ethereum, you’ll need to use P2P platforms, exchanges, brokers, or DEXs.
What Can You Buy With Ethereum?
Since Ethereum is a well-known cryptocurrency, you can use it to buy various products and services as listed down below (this list is not exhaustive):
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NFTs
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Luxury watches from Jomashop
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Domain names from Namecheap
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Tickers and Mavs gear from Dallas Mavericks
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Real estate from Pacaso
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Movie tickets and merchandise from AMC Theatres
Related Ethereum Content
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