How to buy Ethereum instantly in 2020

How to buy Ethereum
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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 validator node alone. In this case, buying 32 ETH in low exchange rate is very important.

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.

How to buy Ethereum instantly

Here is the major steps to buy Ethereum instantly.

  1. Get Ethereum wallet
  2. Select fiat payment method & Ethereum exchange
  3. Withdraw Ethereum from exchange
  4. Spend Ethereum online
  5. Cash-out 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.

If you are a complete beginner, you can get to use MyEtherWallet or Metamask. Both wallets support the ERC 20 tokens, mobile apps, and many Dapps.

If you are heavy Ethereum and ERC 20 token holder, It is good to buy hardware wallets such as Trezor, Ledger, wallet.

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,

 WalletTypePriceMulti-currency supportWebsite
Trezor oneTrezor OneHardware69 EURYesVisit
Ledger Nano SLedger Nano SHardware59 USDYesVisit
keepkey walletKeepkeyHardware79 USDYesVisit
MyEtherwalletMyEtheWallet WebFreeEther, ERC 20Visit
MycryptoMyCryptoSoftwareFreeEther, ERC 20Visit
MetamaskMetamaskBrowser ExtensionFreeEther, ERC 20Visit
TrustwalletTrust walletOnlineFreeYesVisit
coinbaseCoinbase walletOnlineFreeYesVisit

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,

Meet person & buy ETH with cash
Using Ethereum ATM
Using the P2P Ethereum exchange
Using regular Ethereum exchange

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.

7 Best ways to buy Ethereum with credit or debit card

1. Coinmama

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

How to get Ethereum - Coinmama buy Ethereum

04. Next step, enter your personal Ethereum wallet address then click “Go to payment” button

How to get Ethereum - Coinmama Ethereum address

05. Select the payment method as a “Credit or Debit Card” then click the “Buy with Card” button

Coinmama credit card

06. After purchase finished, wait to receive the Ethereum into your personal wallet that will take a few minutes

Coinmama pros

Excellent customer support
Worldwide supports including 193 countries
High spending limits on buying Ethereum and other cryptos
Fast verification process

Coinmama cons

Sell service available only the European countries
Relatively high fees

2. UK registered, legally compliance Ethereum broker and exchange which supports fiat payments through credit cards, swift transfer, ACH transfer. 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. fee structure will charge 2.99% of the total deposit amount for USD, EUR, GBP, and RUB when using credit/debit cards. 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

01. Register new 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

Cex finance

04. Then select the payment method as credit/debit card & type the amount then click “Deposit” and go through the process

How to get Ethereum - cex USD deposit

05. Next, click on the “BUY/SELL” in the main menu then select the ETH and USD, enter the amount and hit “BUY” button

buy Ethereum on Cex

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 pros

Great security with 2FA
Worldwide support for buying, selling and withdrawing fiat currency
Transparent fee structure
Good customer support cons

Buying/selling and fiat withdrawal limits
Headache verification process
Direct Ethereum buy/sell rate is a little higher than the actual market price

3. Coinbase

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

How to get Ethereum - Coinbase credit card

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”.

Coinbase pros

Regulated Cryptocurrency exchange
Transparent fee structure
Enhanced security with 2FA
Beginner friendly and Amazing user interface

Coinbase cons

Few countries support
Sometimes funds can be delayed deposit and withdrawals
Buying Limits and May track your buying activity
Poor customer support

4. Changelly

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

Changelly exchange

03. Next, enter the USD amount & Ethereum address then click “Continue” button

how to get Ethereum - Chnagelly Ethereum address

04. The next step makes the payment and waits to receive the Ethereum into your wallet

Changelly pros

Beginner-friendly intuitive interface
Fast customer supports through live chat
150+ cryptocurrency buying with credit or debit card
High spending limits
Mobile apps for both Android and iOS users

Changelly cons

Relatively high fees for the buying Ethereum with credit or debit card

05. Bitpanda

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.

Bitpanda pros

Beginner-friendly user interface
Wide range of payment methods
Enhanced security with 2FA
Mobile app for Android & iOS

Bitpanda cons

Few countries support
Fees are not clearly indicating

6. Coinhouse

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.

Coinhouse pros

Spending limit can increase through the account levels
Major crypto buy/sell supports
Good customer supports

Coinhouse cons

Only operates in the EU countries
No mobile apps

07. Bitit

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.

Bitit pros

The convenient, transparent fee structure
Major crypto buying with credit/debit card
The spending limit can be increased with the ID verification

Bitit cons

Supports the few countries
Poor customer service

2 Best ways to buy Ethereum with PayPal

08. LocalCryptos

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.

How to buy Ethereum with PayPal on LocalCryptos trades

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

How to buy Ethereum with PayPal on LocalCryptos trade terms

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.

LocalCryptos pros

Many payment methods
Convenient fee structure
Good customer supports

LocalCryptos cons

No mobile app
Chance get scammed

9. eToro

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.

eToro pros

Wide range of fiat payment methods
Wide range of cryptocurrency supports
Excellent customer supports
Mobile app for Android and iOS

eToro cons

No withdrawal option for Ethereum and other cryptocurrencies
Extremely high trading fee

Best way to buy Ethereum with bank deposit & cash

10. Wallofcoins

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

Excellent customer support
Ethereum escrow service for the community protection
Cold wallet storage facility

Wallofcoins cons

Few countries support

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.

Ethereum ATM

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.

Changelly and Wallofcoins do not store your Ethereum in their platform, you need to provide personal Ethereum address during the Ethereum buying process to receive Ethereum into your Ethereum wallet.

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.

Currently, Ethereum accepts many online services & market places such as, eGifter, Overstock, Digitec Galaxus, etc.

Also, you can play the blockchain-related games with Ethereum such as CryptoKitties, 0xUniverse, Blockchain Cuties, etc.

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, 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,

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