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How to Buy Ethereum in the UK

In this guide we list the best cryptocurrency platforms to buy Ethereum, including how to make your ETH purchase step-by-step on regulated exchange eToro, with screenshots.
Buy Ethereum
Buy Ethereum

Ethereum is the world’s second-largest cryptocurrency by market cap. Unlike Bitcoin, Ethereum is much more than just a digital currency. Ethereum runs a powerful blockchain that allows developers to deploy distributed apps that users can interact with.

If you’re new to Ethereum, chances are that you want to learn how it works and the best places to buy Ethereum and turn a profit. There are numerous platforms where new traders can buy and sell Ethereum with ease. Picking one is more difficult than it seems. Platforms are differentiated based on the services they offer, features, fees, and others.

In this where to buy Ethereum guide, we will show you how to buy Ethereum online and the best platforms to work with, for example United Kingdom based eToro which also offers easy Ethereum staking in your wallet once you’ve bought it.

Contents [show]

    How to Buy Ethereum in the UK – Quick Guide

    1. Choose an Ethereum exchange – we recommend eToro which is licensed and regulated in the UK
    2. Create and verify your account
    3. Deposit funds into your account via bank transfer, debit card, Paypal, ewallet or other methods
    4. Search ‘Ethereum’ in the drop-down menu
    5. Click ‘Trade’, select an amount of ETH to buy then open the trade

    Best Way to Buy Ethereum in the UK

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    for £1000 you get1.0679 ETH
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    for £1000 you get1.0679 ETH
    68% of retail CFD accounts lose money.
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    GiropayNetellerPaypalSepa TransferSkrillSofort

    These online brokers were carefully chosen and reviewed as the best brokers to buy Ethereum (as well as Bitcoin):

    These platforms provide a healthy combination of low fees, quick transactions, and a broad selection of payment methods. They make it easy for investors to buy Ethereum and have high liquidity, so buying cryptocurrency and selling are never a problem.

    They also have high security to safeguard your digital assets. Their crypto wallets are secure, and they conduct proper checks to comply with anti-money laundering (AML) and know-your-customer (KYC) policies.

    Compare UK Ethereum Exchanges & Brokers

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    £46.97N/AN/A£138.88N/AN/A
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    Giropay
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    Sofort

    How to Buy Ethereum in the UK – Guide to the Best Brokers in June 2022

    Don’t have the time required to pour through our detailed review? Here’s a quick summary below on how to buy Ethereum with GBP in less than three minutes.

    1. Open an account with eToro: Create a free account on eToro and get started.
    2. Upload ID: Verify your identity by submitting a copy of your passport or driver’s license.
    3. Fund your account: Deposit to start investing in Ethereum crypto
    4. Buy Ethereum: Once you have made a deposit, you can now start trading Ethereum

    Once you follow the steps above, you should have Ethereum in your crypto wallet. Most investors will keep their Ethereum on the eToro platform until it’s time to cash out. You can, however, also withdraw your Ethereum to the eToro mobile wallet.

    eToro Tutorial

    Now that you have known what Ethereum is all about and the solutions it brings to the blockchain ecosystem, you should be asking how to buy Ethereum stock. We will show you step by step how you can begin your Ethereum trading journey. We have chosen eToro for illustrating how you can get your hands on some Ethereum crypto.

    Step 1: Create an account on eToro

    The first thing you need to do is create an account on the eToro trading platform. Every user on eToro goes through this stage.

    Open a Brokerage Account at eToro

    Cryptoassets are highly volatile and unregulated in the UK. No consumer protection. Tax on profits may apply.

    Once you get to the sign-up page, you will be asked to supply your username and a valid email address.
    You will also need to create a unique and strong password. The process takes about two minutes max from signing up to verification of your email.

    This step is only urgent if you plan on buying more than $2,250 (about £1,800) worth of Ethereum for a start. If not, you can skip it and do it later.

    Step 2: Verify your identity

    Verification is the next thing on the agenda. This is because eToro is a regulated trading entity and it requires every user to undergo its know-your-customer (KYC) process.

    Here, you will need to submit a copy of your official passport or driver’s license. You can easily do this by taking a snapshot of your license and uploading it on the eToro platform. Additionally, you will be asked to submit a utility bill to verify your residential address. When you complete this process, you should be ready to move onto the next step.

    Step 3: Download the eToro App (Optional)

    If you are always on the move, then you might need to download the eToro investment app. it’s not compulsory. You can always stick with the desktop version. You get basically the same features.

    etoro app

    The eToro mobile app is available for Android and iOS devices and you can find them on the Google Play Store and the Apple App Store.

    Step 4: Deposit Funds

    After your account has been verified, you will need to fund your trading account to buy Ethereum stock. This needs to be at least $200 – or about £160. eToro makes this process seamless as you can fund your account through multiple payment channels.

    eToro Fund your Account Ethereum

    You can buy Ethereum with Paypal, Neteller, Skrill, bank wire transfer, and even though your debit card. Another way would be to use a crypto asset like Bitcoin to buy Ethereum crypto.

    Step 5: Buy Ethereum

    After funding your account, head down to the search bar and type in “Ethereum.” You will be shown a couple of results. All you need to concentrate on is the first result that pops up. Click on it and you will be redirected to the Ethereum page.

    buy ethereum etoro

    You can briefly look at the performance of the crypto asset by clicking on the “Stats” and “Chart” button on display. Also, if you want to know what other traders feel about it, you can click on the “Feeds” button and read through their reviews of the digital asset.

    When you are ready to proceed, click on the “Trade” button on your top right corner. You will be instantly taken to an order page to start trading.

    Once users buy Ethereum on eToro and hold it in their free exchange wallet you can also receive staking rewards for doing so – eToro takes daily snapshots of your Ethereum balance and issues rewards to you.

    Read more about Ethereum staking.

    Where to Buy Ethereum in the UK – Top List

    Cryptocurrencies were available on just a few trading platforms a couple of years ago but since the recent crypto boom, many investment companies have started offering crypto trades. Although there are so many exchanges you can easily gain exposure to Ethereum crypto, only a few can be trusted. We review three of the best platforms you can easily get some Ether.

    1. eToro – Overall Best Way To Buy Ethereum

    eToro stands out as our top trading platform for users to buy Ethereum. The platform is quite popular worldwide with over 13 million clients and counting. If you’re looking to buy Ethereum for the first time, eToro is the best option for you. eToro-Logo

    Given its decade-long trading experience, eToro has separated itself from the multitude of trading platforms out there through its social trading approach to investing and its focus on user experience.

    eToro has been able to turn the usually complex and confusing world of financial speculation into a platform where people connect and learn from one another. The online brokerage covers a wide array of investment products. It hosts cryptocurrencies including Ethereum. You can buy them and trade them against fiat currencies. In addition, you can buy shares from multiple stock exchanges worldwide and ETFs.

    Sign up for an eToro Account

    Besides its ease of use, registering and funding your account, eToro is also popular among traders for its 100% commission-free trading. This means you can buy multiple investments without having to spend extra on brokerage fees. You also don’t pay extra for keeping your accounts open either, so you can hold on to your Ethereum investment for as long as you like. You can learn more about eToro from this guide.

    Pros

    • Regulated platform
    • Buy Ethereum 100% commission-free
    • Zero commission trades for crypto trading
    • Seamless account opening
    • Social trading experience
    • Supports multiple payment channels
    • More than 3,000 shares to choose from

    Cons

    • Withdrawal fee of $5
    • Minimum first deposit of $200

    Visit eToro

    Cryptoassets are highly volatile and unregulated in the UK. No consumer protection. Tax on profits may apply.

    2. Binance – Popular Ethereum Exchange with Low Fees

    Binance is a household name due to the large trading volume it boasts of. This popular Ethereum exchange has gradually become the go-to destination for global crypto transactions due to its low trading fees of just 0.1% maker and taker fees. binance logo

    Binance boasts of a sleek and fast trading platform and processes more than $60 billion worth of crypto transactions daily. It has a similar build to major exchange Coinbase, but with more features and listings. Binance offers one of the largest trading pairs in the crypto market with over 150 crypto assets currently being traded on the platform. You also get margin trading for trading Ethereum along with Futures trading.

    Binance – Popular Ethereum Exchange with Low Fees

    Buy Ethereum with USDT on Binance

    Added to this is the ease, crypto investors can place their trade and the frequent addition of new services to their crypto portfolio. Binance also offers legacy-styled financial services like savings for crypto funds through its Binance Earn. It also lets users earn crypto assets if they stake their crypto funds in upcoming projects in its Binance Launchpool platform.

    It also offers synthesized versions of conventional company stocks like $TSLA and $COIN.

    Pros

    • Hundreds of cryptocurrency pairs supported
    • 0.1% Trading fees
    • Supports multiple debit cards and bank transfers
    • Trustworthy platform
    • Ideal for professional traders that seek advanced features
    • Offers synthesized stock options
    • Offers legacy-backed services through its Binance Earn program

    Cons

    • Can be overwhelming for crypto newbies
    • High debit card deposit fees

    Visit Binance

    Your capital is at risk.

    3. Uphold – Easy Web & App Trading

    UpholdTrusted by 7 million users across 184 countries, the Uphold exchange platform, app and debit card are a fast and convenient way to buy Bitcoin.

    Alongside their website they also have an app on Google Play and the App Store for Android and iOS users.

    Uphold exchange platform

    Uphold charge a spread of 0.85% when buying Bitcoin, and 1% when selling.

    Some of the other popular assets you can invest in with Uphold include Apple stock, Amazon, AT&T, Tesla, Gold, Silver, Platinum, Palladium and more. Their motto is ‘anything to anything’ trading.

    They also open up investing to anyone through fractional stock trading – you can invest as little as $1 in companies like Google. Unlike some online stockbrokers where you are required to put up a large amount of capital to get started.

    Pros

    • No deposit or withdrawal fees
    • Debit card pays 2% cashback for using crypto
    • Also buy and trade stocks, metals, fiat currencies

    Cons

    • Doesn’t accept Paypal
    • Less crypto assets supported than larger exchanges

    Visit Uphold

    Your capital is at risk.

    4. Coinbase: Largest Crypto Exchange in the United States

    Coinbase is the top cryptocurrency exchange in North America. In fact, the exchange is now listed on the NASDAQ exchange. 

    If you go to Binance and find the exchange too confusing to use, Coinbase is your next best option. It has a much better user interface than Binance, and the exchange provides comparable services.

    coinbase website

    With a $2 minimum account balance, Coinbase appeals to newbie investors and sophisticated ones alike. The exchange also provides benefits like top-notch security, broad currency pairs, and a wide array of deposit and withdrawal options. Furthermore,  Coinbase has a complex fee structure. Trading and transactions cost anywhere between 0.5 percent to 4.5 percent, depending on your currency type, platform, and transaction channel. Coinbase helps by providing an overview before you go ahead with a trade or transaction, so you know what you’re paying for.

    Pros

    • Broad currency portfolio
    • Easy-to-use interface
    • Low minimum account balance

    Cons

    • Complex fee structure

    Visit Coinbase

    Your capital is at risk.

    5. AvaTrade – Legacy Crypto Trading Platform for Investors

    AvaTrade is a forex and CFD brokerage service that has been operating since 2006. It is a part of the Avas Group, which is based in Australia. AvaTrade

    While it is incorporated in the Republic of Ireland, AvaTrade also has offices in Australia, Japan, Canada, the British Virgin Islands, and South Africa. With AvaTrade, you get the usuals – a broad asset collection, in-depth research and abduction tools, and compatibility with different platforms. If you’re a forex options trader, you will also love AvaOptions – the service’s proprietary platform for retail forex and CFD options trading.

    AvaTrade-Home-scaled-1

    On AvaTrade, the minimum deposit amount is $100. You get a wide array of payment channels, ranging from bank transfers to debit cards and payment processors. However, like

    Coinbase, Ava Trade also has a complex fee structure for trades – especially if you’re into CFDs. You can learn more about AvaTrade here.

    Pros

    • Dedicated platform for options trading
    • Research and educational tools
    • Competitive minimum balance

    Cons

    • Complex fee structure

    Visit Avatrade

    Your capital is at risk.

    6. Revolut – Personal Finance Service With Crypto Support

    Revolut is a full-scale neobank and one of the most popular financial service apps in the world.

    Launched in 2015, the London-based service deals more with currency transactions and banking services. So, it doesn’t have any trading support available. On Revolut, you can get up to 30 cryptocurrencies. Beyond transactions, you can also convert your cryptocurrencies to fiat currency in a matter of seconds.

    Revolut website

    Revolut comes with several impressive features, including a Revolut card for transactions and ATM withdrawals and a savings vault that lets you lock your money and earn interest. The online broker comes with different pricing tiers. So, you will need to check yours to find things like fees and minimum balances.

    However, withdrawing money with your Revolut card is free for up to €200/£200 per month. Then, it costs 2 percent from there. Transferring money is free with Revolut, but you will have to pay a few to use SWIFT transfers. For currency exchanges, you get to pay no fees up to €1,000/£1,000 per month on weekdays. You can learn more about Revolut here.

    Pros

    • Up to 4.78% annual bonus rate in savings vault account.
    • No monthly fees for the standard account
    • Access to a broad range of currencies

    Cons

    • No cash or check deposits
    • Fee for delivery of its Revolut card.
    • No live customer service via telephone.

    Visit Revolut

    Your capital is at risk.

    7. CryptoRocket – Newbie Crypto Trading and Exchange Platform

    CryptoRocket is another crypto-focused trading and brokerage service. Launched in 2018, the service is based in Saint Vincent and the Grenadines. It offers different assets, including crypto, ETFs, metals, indices, stocks, and CFDs.

    Users of CryptoRocket get to enjoy several benefits. The service offers various education tools, and this service has the broadest asset class of any on the list – you can even trade oil and gas instruments here.

    CryptoRocket website

    CryptoRocket also has a demo account and an impressive customer support service. Margin trading is also available on CryptoRocket, and traders in some countries can get up to 1:1,500 leverage. There is no minimum deposit on CryptoRocket, and deposits are free. However, the service has a minimum withdrawal of 0.001 BTC. There are no hidden fees here, and trading commissions start from $6 per 1.0 lot.

    Pros

    • Up to 1:500 margin
    • Broad asset class
    • No hidden fees

    Cons

    • Not available in the U.S.

    Visit CryptoRocket

    Your capital is at risk.

    8. Changelly – Nifty Exchange for Instant Ethereum Purchases

    Changelly is a non-custodial exchange for buying cryptocurrencies like Ethereum with ease.

    The platform is a well-positioned platform for instant crypto purchases. Changelly also provides crypto-to-crypto exchange and supports over 140 digital assets on its platform. One of the highlights of this Ethereum exchange is privacy.

    changelly website

    Changelly won’t require any form of personal info from you when buying Ethereum or any other crypto on their platform. Changelly’s fees are pretty competitive. The exchange charges 0.25 percent for crypto swaps. But it charges 5 percent for crypto-to-fiat conversions. There are no deposit fees, and trading fees vary between assets. Withdrawal fees stand at 0.0004 BTC.

    Pros

    • Broad crypto options
    • Strong AML/KYC procedures
    • Simplified exchange interface

    Cons

    • High crypto-to-fiat transfer fees
    • No margin trading

    Visit Changelly

    Your capital is at risk.

    What is Ethereum?

    Ethereum is a decentralized, open-source blockchain with smart contract functionality. Ethereum has become the most successful crypto protocol after Bitcoin, given its extensive use in the blockchain ecosystem. It currently sits as the second most valuable cryptocurrency on the crypto chart controlling about 19% of the entire crypto market. Ethereum logo

    Ethereum was birthed in a bid to propel further the decentralization ethos espoused by Satoshi Nakamoto through Bitcoin. Through this, Buterin created a platform that performed all the same functionality as a legacy-backed financial institution without the central authority.

    Ethereum has since become the home of much of the world’s decentralized projects, housing over 200 such protocols presently. Notably, most people buy Ethereum as a speculative asset. In this regard, Ethereum is more like Bitcoin. Investors buy the asset in the hope that the price increases, and they can profit from it.

    A Quick History of Ethereum

    Ethereum was founded in July 2015 by a group of developers following a whitepaper written by Russian/Canadian programmer Vitalik Buterin. Along with Buterin, several other people who helped to design the concept of Ethereum include Gavin Wood, Charles Hoskinson, Anthony Di Iorio, Mihai Alisie, Amir Chetrit, Joseph Lubin, and Jeffrey Wilcke.
    However, the development of Ethereum didn’t start until a year later, when Ethereum Switzerland GmbH – a Swiss company – started the formal software development process.

    Ethereum eventually launched in 2015, as well as its native cryptocurrency and programming language. As explained, the basis of Ethereum is blockchain technology – a type of database that stores information in groups (called blocks). Information is stored into blocks, and blocks are banded together into the main chain.

    When the Ethereum cryptocurrency launched, it quickly shot up the ranks and became the second most valuable cryptocurrency. This is due in no small part to the rampant adoption that the Ethereum blockchain saw.

    Ethereum allows people to organize ideas, companies, money, and services, build decentralized applications (DApps) on the blockchain. This saw Ethereum allowing transactions to be initiated through its set of computer codes called smart contracts. These line of codes are only executed when both transacting parties meet certain conditions.

    However, this adoption surge also spelled trouble for Ethereum. The blockchain soon developed scalability issues and transaction fees began to surge as more people preferred to build on Ethereum. To solve this, the Ethereum developers proposed Ethereum 2.0 – an upgrade that will make the blockchain easier and more effective.

    The upgrade is still in progress, and there is a great deal of excitement at the prospect of making the Ethereum blockchain better for users.
    As for the Ethereum cryptocurrency, it is still seeing a lot of adoption. Besides being an impressive investment asset, several top online platforms – including Shopify and OVerstock – also accept it as a means of making payments.

    Why Buy Ethereum? Ethereum Analysis

    Cryptocurrencies, in particular, are now popular. But, knowing which one to choose could be a burden. To help sift through this issue, we list some of the reasons why you might want to invest in Ethereum this year.

    • Financial Returns

    The value of the cryptocurrency market has risen exponentially this year, with Bitcoin leading the way. So has the value of Ethereum. In 2015 when the project was first launched, you would have paid $3 for one Etherum coin.

    Why Buy Ethereum? Ethereum Analysis

    Two years after, the value of one Ether hit an all-time high of $1,400. This year, the price has gone to as high as $4,300. This represents an over 143,000% increase in value. This means an initial investment of £500 in 2015 would be worth over £716,000 today. Although the price of Ethereum has been corrected recently, the digital asset has performed quite well so far.

    • Smart Contracts

    This is one of the reasons why Ethereum is popular. Its ability to facilitate smart contract transactions is unrivaled. A smart contract is basically a piece of code that allows two or more people to enter into a self-executing agreement. Once deployed into the blockchain, the terms of the contract cannot be amended or manipulated. This way, many people can enter into agreements without needing to trust the other party. Many of the popular apps today are built on smart contracts, including cryptocurrency exchanges. It’s a concept that’s revolutionizing how we think and see the world and gaining ground.

    • Market Capitalization

    Another reason why you might want to invest in Ethereum is the small market cap. Ethereum has a market cap of $348 billion.

    Why Buy Ethereum? Financial Returns

    This is worth more than most companies listed on the New York Stock Exchange. However, when you look at the problems, the Ethereum Network is trying to solve and its market reach, you’ll realize that the valuation is still relatively small. As such, if you buy Ethereum now, you’re still getting a good deal.

    • Technology

    Most of the cryptocurrencies in the market today are built on the Ethereum blockchain. This means they do not have proprietary technology–but rather, they depend on the Ethereum network. Many of these cryptocurrencies are ‘ERC-20’ tokens that require the Ethereum network to function, and many projects go this route because, unlike Bitcoin, Ethereum’s network makes it easy for anyone to create cryptocurrencies. Once these tokens are built, in turn, it drives up demand for the Ethereum coin, as users need the digital asset to function on the network.

    Choosing the Right Broker When Buying Ethereum

    Everyone is getting into crypto these days, and it’s understandable if you want to as well. However, like it is with investing in anything else, you have to be careful when selecting brokers. These factors should help you make the right choice:

    1. Fees

    You want to check the sees that a broker charges. Make sure they are competitive and see to it that you don’t end up paying too much for the service.
    Exchanges and brokers take different fees. These include deposit and withdrawal fees, trading commissions, inactivity fees, etc. You should also ensure that your broker of choice doesn’t impose any hidden fees on you.

    2. Payment Options

    The best brokers allow you to pay using different options. From bank transfers and cards to payment processors, you want to ensure flexibility when it comes to payment options.

    3. Safety

    Look into the broker’s safety precautions. You don’t want to suffer any surprising hacks. You can also check the broker’s history with hac