Ethereum has quickly become one of the most popular cryptocurrencies on the blockchain market, only second to Bitcoin. The biggest innovation that Ethereum brought to the cryptocurrency space is it’s smart contracts platfrom. It allows users to create blockchain certified contracts that can be used to enable different kinds of decentralized apps across different applications and industries.
Ethereum saw a peak of the Hype in August 2017 and December 2017. The cryptocurrency has skyrocketed in value, reaching over $1000/Ether and has been dominating Coinmarketcap with a solid #2 Place ever since. Perhaps you are interested in investing in this cryptocurrency? But where can you buy Ethereum? Where do you start? And how can you buy tokens if you don’t have any cryptocurrency?
The price increase in Ethereum throughout the year are the result of continuous progression in development along the Ethereum roadmap aswell as the rising demand for this cryptcurrency as a lucrative blockchain asset by crypto investors. Being a highly technical field (blockchain, cryptography), cryptocurrency exchanges were not designed with a consumer-first mindset, thus new crypto users may find the process daunting.
However much has changed since: There are safe and easy ways to purchase Ethereum and other digital assets, just as conviniently as shopping on Amazon.
Let us show you in this guide, an overview of the options that are available to you to purchase Ethereum safely, securely and quickly using your Credit Card.
To purchase Ethereum on Coinbase you need to complete the following steps:
- Register on the Coinbase website
- Complete the verification process by uploading a photo of your ID card
- Add your payment method: A credit or debit bank card
- Coinbase will make a tiny test transaction to verify your card details
Once these steps are completed you can buy your very first Ethereum.
What coins can I buy on Coinbase?
Coinbase offers various cryptocurrencies that can be purchased instantly with you fiat currency. You can buy Ethereum, but also Bitcoin, Bitcoin Cash and Litecoin.
Before completing you purchase, review your Coibasedashboard and verify that you have selected the correct cryptocurrency (Ethereum) and then proceed to finalize the purchase.
Should I leave my coins on Coinbase?
Coinbase ensure it’s users that it follows a hight level safety code and enforces multiple methods of protecting your wallet. However, to guarantee a higher level of safety we recommend to store your tokens in an offline wallet.
Coinmama is another great option when it comes to easy and convenient ways to purchase cryptocurrency.
A benefit Coinmama offers in comparison to other platforms is that you can purchase up to $100 worth of Ethereum without completing the verification process.
Coinmama does not require you to register your bank details and allows you to make an order right away. Choose the right cryptocurrency from the dashboard, then use the slider to select the desired amount as you can see in the picture above. You can choose between Bitcoin, Ethereum and Cardano.
There are two things you should know about Coinmama. First, it does not provide a Wallet on the platform. Therefore, you should create an Ethereum wallet before you purchase on Coinmama. We recommend MyEtherWallet.
Furthermore, Coinmama charges high fees on the purchase: Around 5% on the transaction relative to the current market price and further 5% for the credit card transaction.
CEX started out as a cloud mining compan and has evolved and transformed to become a cryptocurrency exchange. The user-friendly interface paired with a great mobile app make CEX a great choice for anyone who wants to buy some coins fast.
Once you complete the verification process by uploading your government-issued ID card, the coins are just one step away. Add your debit or credit card, wait for them to be verified and you are all set and ready to buy coins.
CEX charges around 3.5% fees on credit card deposits and adds 7% service fee to the exchange rate offered on cryptocurrencies. While these fees may seem high, CEX ensures that all orders are completed and provides a very high level of security to it’s users.
Changelly is predominately used for converting coins into other coins. However you can also purchase cryptocurrencies such as Ethereum using your credit card aswell.
Changelly has a beautiful and easy to use interface that allows you to instantly perform transactions by completing email verifications. This fast and efficient service comes at a price: The fees are higher than on other exchanges when you make purchases with your bank cards.
We recommend to use other places for purchasing Ethereum with USD, and use Changelly specifically for easy and fast conversions to other cryptos.
If you want to buy Ethereum in Europe, BitPanda is the place to go to. It offers a pleasant buying experience at relatively low fees.
Please note that BitPanda is only available to European users and fees vary based on the country you are making the purchase from (usually around 3%).
A significant difference between BitPanda and other crypto Exchanges is the rigorous verification process. It is performed through a 3-rd party verification company and abides to strict European regulations. The benefit is that BitPanda offers a exceptional level of security to it’s users, once you have successfully completed all steps neccessary to become a member.
All exchanges mentioned here are reputable, trustworthy and safe for buying Ethereum. Choosing the best one depends on your requirements, which could be the rates and feels, location , interface or a personal experience. You can always try out a few and then choose that one that you are most happy with.
We hope this article has given you some good insights and made the choice a bit easier for you.