How to Buy Ethereum in the UK: A Beginner's Guide

To buy Ethereum, or any cryptocurrency for that matter, you will need to sign up for an account with a cryptocurrency broker or exchange that allows you to exchange your pounds with crypto assets. If you are just starting out, it'd be wise to find a platform that is easy to use and with a straightforward pricing structure.

eToro is a prime example. It combines an easily navigable platform and transparent pricing with impeccable social trading capabilities. Following and interacting with more seasoned traders, you can expand your knowledge while trading.

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You will find that some cryptocurrency exchanges and brokers require users to deposit a certain amount to verify their accounts, while some don't. In any case, you will need to select a suitable payment method for your purchase. Card payments are attractive to many; they are near-instantaneous, but they also come with additional processing fees. Credit card payments, especially, cost a fair bit. Albeit slowest, bank transfers are often the cheapest method.

After you fund your account, you can place your order to buy Ethereum. It's the second most commonly used cryptocurrency, so it's fairly easy to locate on exchanges. If not, you can search for it with its ticker ETH.

You should also consider how much you'd like to invest. As of this writing, one Ethereum costs £1,694 — for most folks, this means getting a portion of an Ethereum. There's nothing stopping you from purchasing one, two, or even three whole coins, but remember that crypto assets, even those that are established and widely used as Ethereum, are extremely volatile. This means that there's a chance you may end up losing all your initial investment. A good rule of thumb is never to invest more than you can afford to lose, or any funds you allocate to sustain your day-to-day life, such as money for rent, groceries, or bills.

You have several options to store your Ethereum. The software you can use for storage are called wallets, they can be hot (online) or cold (offline). Many exchanges offer their own wallets, or alternatively, you can find one that's more suitable for you.

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Crypto brokers make it easy to buy and hold Ethereum using simple trading software and providing educational content. Below we’ve outlined the best crypto brokers in the UK along with small reviews. You can also trade Ethereum on these crypto brokers.

Top Cryptocurrency Brokers

Buy Ethereum using eToro. eToro is brilliant for beginners because it doesn’t feature complex trading interfaces. The whole platform is built with the consumer in mind, and finding essential features is easy. Also, upon signing up, you can read about crypto news and join the eToro academy.

For investors looking to purchase Ethereum as part of a diverse investment portfolio, then eToro won't disappoint with over 120 cryptocurrencies to choose from as well as more than 250 other crypto assets. It also offers different payment methods like credit or debit card.

Buy Ethereum using Binance. Binance is the largest cryptocurrency exchange offering several trading pairs for Ethereum. In addition, you can stake on Binance without needing the 32 ETH minimum since investors’ coins are pooled together.

Buy Ethereum using Coinbase. The most user-friendly crypto exchange is Coinbase, which offers multiple useful features, such as the option for buying or selling Ethereum instantly, an advanced trading platform, an NFT marketplace, a Visa card, and Ethereum staking. Moreover, in this crypto exchange, you can earn free coins for finishing courses that teach you about different cryptocurrencies.

There are many different options when looking for the best crypto apps in the UK. Apps like Coinbase, Crypto.com, and Kraken make it convenient to buy Ethereum in the UK with their simplistic interfaces. All features are easy to find, and creating a fresh account takes minutes.

The Best Apps to Buy Cryptocurrency in the UK

The platforms selected below have generous fee structures along with easy-to-use trading software. Also, Binance and Crypto.com offer native cryptocurrencies that will reduce your fees further.

The Best Cryptocurrency Exchanges in the UK

What Are the Fees When Buying Ethereum in the UK?

These are the fees you’d pay for buying £1,000 worth of Ethereum and holding for 30-days on the following platforms:

As well as you can buy Bitcoin anonymously in the UK, you can do the same with ETH.

Decentralized exchanges (DEXs) offer an alternative way of buying Ethereum. These are applications built on the Ethereum blockchain that use smart contracts to function. They are not owned or regulated and do not require ID, making them ideal for buying coins anonymously.

The Best DEX to Buy Ethereum

• Buying Ethereum in the UK Without Registration or KYC. You can buy Ethereum without KYC via a decentralized exchange. These platforms do not require verification or signing up. UniSwap is the best DEX to use and is compatible with many Ethereum wallets.

• Buying Ethereum in the UK Without Verification. Binance and KuCoin let you deposit crypto and trade without verifying your identity. However, you will have account limits and won’t be able to deposit fiat currency.

Many established crypto exchange types offer P2P trading as part of their overall service. This is where you buy Ethereum in the UK directly from a seller rather than through conventional spot trading. The P2P section will have a list of sellers and a price for each ETH coin.

The Best P2P Services to Buy Ethereum

There are several great cryptocurrency platforms offering Ethereum buying services, which you can learn about below. Also, we’ll uncover their starting fee rates and provide in-depth reviews so you can find out more information.

The main aspects that impact Ethereum’s value are:

• Market performance: One huge factor is the current market status since money flowing into crypto influences prices heavily. For example, during bull runs, financial institutions invest in various altcoins like Ethereum bringing in huge investment capital. However, during bear markets, less money goes into crypto as it’s deemed too risky, and prices fall.

• Crypto laws: Regulations and laws can make crypto more accessible or less to investors. Thankfully, the UK is very friendly towards cryptocurrencies, making Ethereum readily available on most licensed crypto exchanges.

• Competition: Many smart contract cryptocurrencies like Cardano and Avalanche are in direct competition with Ethereum. This can be a disadvantage as they take more market share.

• Updates: Ethereum receiving updates on the Ethereum network is excellent news as the Ethereum blockchain becomes more efficient. For example, Ethereum sharding is a multi-phase upgrade that improved its scalability and gas fees.

• Demand: As Ethereum gets more demand, investors are willing to pay more for each token, increasing its price.

Major Milestones in the History of Ethereum

Ethereum is worth buying because it has longevity through its smart contracts. It’s currently the largest smart contract coin and has recently switched to a proof-of-stake consensus mechanism, making it more efficient to run. Also, Ethereum has always hit new all-time highs every bull run and is considered a blue chip cryptocurrency by many.

Here are some great hand-picked smart contract cryptocurrencies similar to Ethereum.