How to Buy Ethereum?
In 2021, Ethereum (ETH) soared beyond all its previous all-time highs to more than USD 4k. Everyone’s question suddenly became, “How can I get in on this?” As it turns out, buying ether, the native currency of the Ethereum network, does not have to be a chore. It’s as simple as deciding how much you want to buy, what exchange you prefer, and then signing up and following the requisite steps to do so. Don’t forget to transfer the ETH to your own wallet later and keep your private keys and seed words extremely secure!
Ethereum was proposed in 2013, crowdfunded in 2014, whereas the network itself went live in 2015. Vitalik Buterin, its founder, realized that technologies like Bitcoin could benefit from other applications besides money. His idea was to create something with the same principles of decentralization, immutability, and transparency, but with a scripting language that would enable it to run other applications, making the possibilities practically limitless.
The network's capabilities were quickly recognized, and today—six years after it first launched—the Ethereum network hosts over 3.5k decentralized apps or dapps. This popularity was one reason why the ether cryptocurrency price soared far beyond what it had reached before this. Now, it is still garnering a lot of interest from retail and institutional investors alike.
How to Buy Ethereum in 2021
Buying Ethereum has never been easier, thanks to the number of different exchanges available. You’re almost guaranteed to find the perfect platform for your ether purchasing needs—all you have to do is read on. The specifics of buying an asset on a cryptocurrency exchange are almost the same everywhere: you will need to sign up, potentially go through a KYC verification process that can take some time to resolve, and then choose the perfect trading pair. Some exchanges don’t deal with fiat, so you may have to look elsewhere if you want to buy with USD or EUR. Here are the best five exchanges for buying ETH:
Binance. This is the biggest exchange by 24-hour trading volume, which is not surprising, considering their excellent trading pair offer. First off, you don’t even need to go through KYC to trade, which is not common in the crypto world. They also have great global coverage, so the chances of your country being excluded are pretty slim. When it comes to trading ETH, you can buy it with fiat options (that include credit card purchases), as well as within more than 90 cryptocurrency trading pairs.
Crypto.com. Another big crypto asset platform, Crypto.com, includes several different services. However, for buying ETH, you will need their exchange, which is also available in their mobile app, with great perks that are often not found elsewhere. Crypto.com is one of the best choices for mobile users who prefer to trade on the go. Here, too, you can trade ETH against both fiat and crypto with meager fees. A significant perk is that you can also order the Crypto.com VISA card, which lets you spend your crypto anywhere—remember you will have to go through extra KYC checks to do this.
Coinbase. This is one of the most beginner-friendly exchanges you can find, although the fees are not the lowest compared to the industry standard. However, with their unsurpassed simplicity, this can be a worthy tradeoff. With multiple ways to buy crypto (using credit/debit cards, wire transfers, local payment providers, etc.), you’re almost guaranteed to find one that works for you. When buying ETH, aside from the aforementioned fiat options, you can also choose from many crypto trading pairs. In case you’re stuck at any point, the platform provides easy-to-understand and straightforward explanations of each step of the way for every specific crypto you’re interested in.
HitBTC. If you’re looking for an exchange with a huge spread of altcoins and privacy at its forefront, HitBTC is the place for you. As it does not force its users to go through the KYC process, it is perfect for those who value their privacy—still, there is an option to do so regardless, which can probably turn out to be safer in the long run. It is, however, not quite for beginners, as it takes some preexisting know-how to navigate the exchange, withdraw your funds, and follow safety procedures. You can trade ETH against several cryptocurrencies, but fiat itself isn’t supported, except through a Changelly integration.
Kraken. This US-based exchange is one of the most secure exchanges that take safety measures and self-regulation very seriously. Fees are among the lowest in the industry, and their coverage is almost completely global (with very few exceptions). Due to security, all users have to go through the KYC process, which can take anywhere between a few minutes and a few days, depending on the level you want to obtain. The platform also offers margin and forex trading for more experienced investors, while high volume traders may benefit from their OTC service. When trading ETH, you will be able to choose from more than 40 crypto trading pairs, as well as a wide range of fiat options.
This is far from an exhaustive list of places where to buy ETH in 2021, especially given the coin’s rising popularity. However, what this list provides is a starting point for everyone who is not sure how or where to take that first step; once you know your priorities when it comes to crypto trading, narrowing it down to one or two exchanges that work for you will be a breeze. Still, you should always remember not to invest more than you’re willing to lose; the cryptocurrency market is still highly volatile, and you should take every reasonable precaution to protect yourself.
Good luck trading ether! If you want to know how to trade other coins, Cryptonews is the best starting point (but also the middle point whenever you want to check back). And if you’re afraid of missing any crypto-related news, be sure to subscribe to our newsletter!