Are you looking to buy some Ethereum instantly? Then you are in the right place. This guide will explain, how to buy Ethereum step by step.
Ethereum is a decentralized, smart contract platform, in near future next major Ethereum update has to come that is known as Ethereum 2.0 or Serenity. This major Ethereum update consists of the Ethereum staking where 32 Ethereum will require to run the Ethereum node alone. In this case, a lot of people are going to buy that amount of Ethereum.
Also, this guide is perfectly suitable for cryptocurrency beginners because it will explain selecting Ethereum wallets, finding suitable fiat payment methods, and places to spend some Ethereum, and finally cash out the Ethereum. So, let’s discuss, how to buy Ethereum instantly in detail,
Step 1. Get Ethereum wallet
In the first step, you should select & get the suitable Ethereum wallets to store Ethereum. There are many Ethereum wallets available in the current cryptocurrency industry where you should select the Ethereum wallet according to your requirements.
Let’s check out the article that explains 18 best Ethereum wallets and it includes both Android & iOS Ethereum wallet apps.
The list of best Ethereum wallets that you can get confidently,
|Trezor One||Hardware||69 EUR||Yes||Visit|
|Ledger Nano S||Hardware||59 USD||Yes||Visit|
|MyEtheWallet||Web||Free||Ether, ERC 20||Visit|
|MyCrypto||Software||Free||Ether, ERC 20||Visit|
|Metamask||Browser Extension||Free||Ether, ERC 20||Visit|
Step 2. Select fiat payment method & Ethereum exchange
After selecting the suitable Ethereum wallet, you have to choose the fiat payment method that accordance with your requirement. Here are the general methods to acquire some Ethereum,
You can buy Ethereum using one of the above methods, there are many issues & limitations involve with each method.
If you are seriously consider the privacy, you have to watch the first two options, also, some of the traders in the P2P exchange does not ask the identity verification. But, a lot of people can’t access the above two options, in case they have to watch third and fourth options.
Also, P2P exchanges support many fiat payment methods such as PayPal, Skrill, Bank transfers, Webmoney, Netteler, Wechat Pay, etc.
The regular Ethereum exchanges & brokers support popular payment methods like a credit card, debit card, bank account, wire transfers, etc. Also, you have to remember the regular exchanges & brokers definitely ask the KYC verification before buying the Ethereum.
Buy Ethereum with credit or debit card
Coimama is one of the oldest Ethereum brokers operating worldwide including 193 countries since 2013. Coinmama provides fast, easy Ethereum and cryptocurrency buying service with few payment methods such as credit card, bank transfers such as SWIFT and SEPA and faster bank payment service only works for the UK.
Coinmama fee structure
Coinmama charges a 5% fee of total transactions made by the credit card. There is no hidden fee are involving.
How to buy Ethereum on Coinmama?
01. Register new Coinmama account and verify the identity
02. Select & click on the Ethereum under the “Buy” tab in the main menu
03. Type or select Ethereum buying amount and select the fiat currency then click on the “Buy Now” button
04. Next step, enter your personal Ethereum wallet address then click “Go to payment” button
05. Select the payment method as a “Credit or Debit Card” then click the “Buy with Card” button
06. After purchase finished, wait to receive the Ethereum into your personal wallet that will take a few minutes
Cex.io UK registered, legally compliance Ethereum broker and exchange which supports fiat payments through credit cards, swift transfer, ACH transfer. Cex.io supports so many countries for Buy/Sell Ethereum and few other cryptocurrencies where you can deposit and withdraw fiat currencies like EUR, GBP, USD, and RUB through credit/debit card and wire transfer.
Cex.io fee structure
Cex.io will charge 2.99% of the total deposit amount for USD, EUR, GBP, and RUB when using credit/debit cards.
Cex.io charges a trading fee, it will depend on the 30-day Bitcoin volume. The maximum trading fee is 0.25% of the total amount. If your trading volume increase, trading fee-charging decrease.
How to buy Ethereum on Cex.io?
01. Register new Cex.io account & verify identity
02. To add credit or debit card, click on the “CARDS” tab in the main menu then click “Add a new card”. Next, go through the process
03. To deposit fiat money, click on the “DEPOSIT” button in the main dashboard or click “FINANCE” tab in the menu then select the suitable currency & hit the deposit button
04. Then select the payment method as credit/debit card & type the amount then click “Deposit” and go through the process
05. Next, click on the “BUY/SELL” in the main menu then select the ETH and USD, enter the amount and hit “BUY” button
Here I recommend buying Ethereum using the ETH/USD market pair in the “Trade” section because you can take a better rate than the “BUY/SELL” section
Coinbase is US based San-Francisco headquartered, regulated popular cryptocurrency broker and exchange that supports payment methods such as credit/debit card, bank account, wire transfer(ACH), SEPA transfer, etc. It does not operate worldwide only works in a few countries such as the USA, EU countries, Australia, Singapore, Canada, etc.
Note: Credit or debit card payment support for the Singapore customers only where the rest of the countries supports the debit card payment.
Coinbase fee structure
There are two types of fees which are a flat fee and a variable percentage fee.
When using a credit/debit card variable percentage fee will apply which is about 3.99% of the total transaction and the variable percentage fee depends on region and payment methods.
If you are in the US, Canada, Australia, Europe, and Singapore credit/debit card variable percentage fees remain 3.99% of the total transaction where the fee will vary for other payment methods.
Coinbase indicates what are the fees are charged before made any transaction.
Coinbase charges a spread margin of 2% for digital currency conversion for example Ethereum to Bitcoin.
The standard network fee applies for a digital currency withdrawal from the Coinbase exchange that depends on the network condition.
How to buy Ethereum on Coinbase?
01. Register the new Coinbase account & verify the phone number and identity
02. Then go to the account setting then add the credit/debit card & verify it
03. Next, click on the “buy/sell” tab in the menu then select the Ethereum & enter the amount of Ethereum you want to buy. Then hit the “Buy Ethereum instantly”.
Changelly is instant cryptocurrency swaps and exchange service which is enabled buying Ethereum and other cryptos with the credit/debit card payments.
Changelly is non-custodial service which means it not store user’s cryptocurrency on their platform where the bought Ethereum directly sends to your provided Ethereum address.
Other than buying Ethereum with credit/debit cards, Changelly provides crypto to crypto instant exchange or swaps through an intuitive interface with a convenient rate.
Changelly fee structure
Changelly charges 5% of the total transaction made with credit/debit card, and additionally, a 5% fee will apply for Simplex the Changelly’s credit/debit card payment provider.
How to buy Ethereum on Changelly?
01. Register the new Changelly account
02. Next, in the main page select the exchange pairs as USD in the first field and ETH in the second field then hit the Exchange now button
03. Next, enter the USD amount & Ethereum address then click “Continue” button
04. The next step makes the payment and waits to receive the Ethereum into your wallet
Bitpanda is Austria based cryptocurrency exchange and Bitcoin broker operation since 2014 and buying cryptocurrency only supports the European region. Bitpanda offers a wide range of payment methods such as credit or debit card, bank transfer, Skrill, Neteller, etc.
Bitpanda fee structure
The card deposit fee is about 1.5% of the total transaction.
Bitpanda charges a 1.49% fee for all cryptocurrency purchases and this amount includes in the offered price of the particular assets. Real-Time fees will display when you are doing any cryptocurrency transaction.
Some fees may charge the banks for exchanging currency, and card issuers.
Coinhouse is a France based cryptocurrency exchange founded in 2014 that supports buy/sell Ethereum, Bitcoin, Litecoin, Bitcoin Cash, and Ripple. Currently, it supports the credit/debit card payments, SEPA transfer but the service operates within the EU countries.
Coinhouse fee structure
Coinhouse fees depend on their account levels where three account types available that are “Start”, “Blue”, “Premium”. Coinhouse charges 4.9% of the total transaction for both the “Start” and “Blue” account levels. For the premium accounts, it charges 3.9% for card payments.
Also, the standard Ethereum network gas fee will apply.
Bitit is a cryptocurrency broker and exchange which provides instant, easy and secure cryptocurrency buy/sell with major payment methods such as credit/debit card, SEPA transfer, and cash vouchers. That supports 50+ countries including the US, UK, Canada, Australia, etc.
Bitit fee structure
Bitit charges 3.9% fees of total transaction made with the credit/debit card and there are no hidden transaction fees involving.
Buy Ethereum with Paypal?
LocalCryptos is a peer to peer cryptocurrency market place with worldwide cryptocurrency buyers & sellers. It is founded back in 2017 by two cryptocurrency enthusiasts who are from Australia formerly it is called LocalEthereum.
Currently, it supports Bitcoin & Ethereum only.
It supports so many fiat payment methods including PayPal, Payeer, Western Union, SEPA transfer, Wechat Pay, Webmoney, Alipay, etc.
LocalCryptos fee structure
LocalCryptos charges 0.25% for maker fee (Person who list the offer) and 0.75% for taking a fee(person who takes the listed offer).
Also, you should pay a standard Ethereum network fee.
How to buy Ethereum on LocalCryptos?
01. Register a new account on LocalCryptos
02. Next click on the “Browse” button then select the proper option in filter located top of the offer page where you should select the payment method as PayPal.
03. Next, select the best rate sell offer and click the “BUY ETH” button on the right side.
04. Next step read the “trade terms” & open new trade also, you can communicate with the seller after open the trade
05. After the seller escrow the Ethereum, you should make the payment via the PayPal
06. Then the seller will release the escrowed Ethereum and wait to receive the funds into your LocalCryptos wallet or bind Ethereum wallet such as Metamask or MEW.
eToro is a world-leading social copy trading platform that supports cryptocurrency, CFD, ETF, stock trading, Currencies, Commodities, etc. eToro is not providing Ethereum withdrawal option to its users but you can buy/sell Ethereum and other cryptocurrencies with confident.
eToro fee structure
eToro credit/debit card depositing is free of charge
eToro charges a 0.75% fee for the Ethereum buy/sell trade and when considering other crypto assets, trading fees are extremely high.
Buy Ethereum with bank deposit & cash?
Wallofcoins is a US-based, peer to peer cryptocurrency market place which supports cash deposits on the bank and no online bank to bank transfers.
You can buy Bitcoin, Bitcoin Cash, Litecoin, PIVX, Ark, DASH other than Ethereum.
Wallofcoins funds store in the secure cold storage wallet to securely manage its user’s funds. It serves the United States, United Kingdom, Canada, Australia, and few countries.
Wallofcoins fee structure
Wallofcoins does not clearly mention the fees, I think the fees include in the rate of Ethereum. Also, the fees depend on the order size, seller advertisement.
How to buy Ethereum on WallOfCoins?
01. Register the new Wallofcoins account then verify the phone number
02. Select the Ethereum from “Coin” tab in the main menu then click the “Buy” button in the middle of the page
03. Next few steps, It will ask to enter your personal Ethereum address, the amount you want to buy
04. After the above steps, Wallofcoins will show you available offers with the banks nearest to your location
05. After that, select the offer & click on the “Order” button then it will ask to enter the phone verification code sent to you
06. Next Wallofcoins will show you bank deposit details then deposit the money with provided bank account details
07. Next, upload the payment proof and wait to receive the brought Ethereum into your personal Ethereum wallet
Wallofcoin of pros
Buy Ethereum with Ethereum ATM ?
Cryptocurrency ATM is an automated teller machine that is very similar to traditional ATMs but cryptocurrency ATM is connected to cryptocurrency exchange instead of connects to the bank account.
The easiest way to buy Ethereum with cash is using the cryptocurrency ATM that supports the Ethereum buying also, it supports the credit/debit cards.
You can find the nearest Ethereum ATM machine using a website called Coin ATM Rader.
How to find Ethereum ATM near you?
Coin ATM Radar is listed almost every Ethereum ATMs in one place and it is updated over time.
On the home page first, click on Ether(ETH) ATMs under the “Maps by cryptocurrency” and it directs to Ethereum ATM map
You can search ATM by manufacturer, buy or sell method, location address.
Also, you can view more details of the individual ATM by clicking on “View details” button
Step 3. Withdraw Ethereum from exchange
After buying the Ethereum, you should withdraw the Ethereum into your personal wallet selected in the first step.
It is not suitable keeping Ethereum or any digital assets on the cryptocurrency exchange or broker site because any exchanges can be hacked at any time, therefore, as safety measurement you should withdraw your funds into your personal wallet.
Step 4. Spend Ethereum online
Ethereum can be used to buy other ERC20 tokens such as LINK, Kyber, MATIC, Augur Coin, iExec and many more in decentralized exchanges such as Uniswap, Kyber Swap, and Etherdelta.
Ethereum can be used to get DAI as a loan by collateralizing the Ethereum in the MakerDao’s Oasis app. If you are the cryptocurrency trader, you can have a huge DAI loan amount by still keeping your crypto holdings until the repayment of the loan.
Step 5. Cash-out Ethereum
After purchasing the Ethereum, sometimes you want to sell Ethereum for fiat currencies such as USD, EUR, GBP, etc. Also, when you get a good ROI as an investor. In this case, you have to find someone who willing to buy Ethereum. So, this can be done in many ways.
The easiest way is using the Ethereum P2P exchange. So, you can find the Ethereum buyer in P2P exchanges such as LocalCryptos but you might not get a good rate for your Ethereum. Also, you can get money into your bank account, PayPal, Skrill, etc.
Also, you can sell Ethereum in regular cryptocurrency exchanges such as Cex.io, Coinbase, Bitpanda, etc. After the exchange of the Ethereum, you can withdraw the money into your credit card, bank account, or receiving check payment.
Another good way to cash out is by using the Ethereum ATM that supports the Ethereum selling for cash. If you want to find out the Ethereum ATM location map, check out the Coin ATM Radar that consists of the real-time updated interactive map.
Conclusion – how to buy Ethereum?
This article consists of how to buy Ethereum with five simple steps where each step includes a detailed explanation. Also, the article includes the 11 best options to buy Ethereum with a credit card, PayPal, Cash and through the Ethereum ATMs.
Further helpful readings,