How to Buy Ethereum (ETH) in the UK
Cryptocurrency investors all over the world have been searching for a good opportunity to invest in a promising digital asset that is not Bitcoin. Ethereum (ETC), which has been present on the market since 2015, is becoming the ultimate favorite of 2022.
Ethereum is the second-largest cryptocurrency on the market after Bitcoin. Learn the best way to buy ETH in the UK and how to find an optimal exchange. A unique feature of Ethereum that makes it stand out among the other crypto coins is its blockchain, which can be used by the developers to create and run applications and for the ERC-20 tokens. Due to its broad applicability and great forecasts, the price of ETH has been steadily growing each year, making it one of the most attractive investments of 2022.
This guide will help you learn how to buy Ethereum in the UK in 2022 and identify the best exchanges to make the purchase.
What Is Ethereum, and Why Should You Buy It?
Ethereum is open-source and decentralised blockchain technology. Ethereum’s coin is called Ether. It is the second most popular crypto investment after Bitcoin, and it is also the second-largest cryptocurrency by market cap.
The major difference between ETH and BTC is that ETH is an open-source blockchain and an operating and computing platform at the same time. It can be used to create and run applications and conduct decentralized financial operations.
The profits from Ethereum have been the primary reason for not delaying the purchase. In April 2020, the price of ETC was on average 140 dollars or 100 pounds. The same time next year, it was already 2,100 dollars or 1,509 pounds. After a dropdown of the recent months, a speedy rise is expected shortly.
How to Buy Ethereum in the UK: Step-by-Step Guide
Beginner traders may wonder how to buy Ethereum and begin with crypto investments. Follow these easy steps, and you will be able to buy ETH in no time.
- Choose an exchange platform that you trust and that offers ETH.
- Sign up.
- Activate your account and verify your identity.
- Make a deposit using your preferred currency and payment method
- Confirm the ETH exchange rate in the UK, select your pair GBP/ETH, and press “to buy”.
- Indicate the number of ETH that you are interested in buying.
- Confirm the details and review your purchase.
Where to Buy ETH in the UK – The Best Exchanges
There are many exchanges today that offer their services to crypto traders looking to buy ETH. In order to help you choose the most optimal exchange, we have prepared a comprehensive list of the popular exchanges available in the UK.
Binance
- Visa
- Mastercard
- Cryptocurrencies
- Osko
- PayID
Supported deposit currencies: GBP, USD, AUD, CAD, EUR, CNY, RUB, TRY, NGN, UAH
Fees:
- Depending on your level in the loyalty system, trading fees vary
- Maker fee ranges between 0.1000%-0.0200%
- Taker fee rages between 0.1000%-0.0400%
- Margin Borrow Interest rate for ETC varies from 0.050000% for users at the level 0 in the loyalty program to 0.040000% for users at the level 9
- Deposit fee: no fee
- BEP2: 0.0077
- BEP20: 0.0077
- XRP: 0.01
For the ETH/BTC, pair the minimum trade amount is 0.001 ETH, and the maximum market order amount is 2480.49850243.
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- Attractive fees and liquidity
- Great customer service, user and speculator reviews
- Easy account verification process
- Low minimum to withdraw
| - Unregulated
- Low daily limits when it comes to withdrawals
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How to buy ETH on this exchange:
- Register and activate an account on Binance.
- Go to “Funds” and make a deposit.
- Select ETH from the list of available coins and indicate how much you’d like to buy. Press “Continue” and confirm your purchase.
Coinmama
- Visa
- Mastercard
- Western Union transfers
- SEPA
Supported deposit currencies: GBP, USD, EUR, AUD, CAD, GBP, JPY
You can expect a 5% fee for card deposits and, on top of that, a commission of 3.90%.
Limits for Level 1 users:
- Bankcard limit: £5,000/5 orders
- Wire transfer limit: £15,000/10 orders
- Bankcard limit: 5 orders/£5,000
- Wire transfer limit: 10 orders/£35,000
- Bankcard limit: 5 orders/£7,500
- Wire transfer limit: 10 orders/£50,000
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- Quick purchases
- Multi-currency platform
- Good anonymity features
| - High fees on card deposits
- High commission fee of up to 3.90%
- Few options for making a deposit
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Here is how to buy Ethereum in the UK through this exchange:
- Register at Coinmama and verify your account.
- Make the Ethereum order by deposing a fiat currency using a credit/debit card. Indicate the number of ETH coins that you’d like to buy.
- Type the details of your crypto wallet. Press “Go to Payment” and confirm.
CoinJar
- Bank transfer
- Cryptocurrencies
- Faster Payments (FPS)
- PayID
- BPAY
- Blueshyft
Supported deposit currencies: GBP, AUD
Fees:
- BPAY: no fees. However, the deposits under 10 GBP will be charged with a 1.5 GBP processing fee
- NPP deposit: No fees
- Blueshyft: 1.5% fee
- Debit deposit: no fee
- Withdrawal fees: cash account to bank account for no fee, digital currency to BPAY Biller for 0.5%
- Transaction fee: 0
- Maximum daily transactions: 25
- Maximum daily ATM uses: 10
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- Free withdrawals from cash account to bank account
- Good deals on deposits
- No conversion fees for CoinJar Swipe users
| - Transaction fee for sending ETH
- Too focused on the Australian traders
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How to buy ETH on this exchange:
- Send the funds into your CoinJar account.
- Choose ETH as your to-buy coin and indicate the number. Press “Buy ETH”.
Wirex
- Credit or debit card
- Crypto transfers from external wallets
- Stellar memo
Supported deposit currencies: GBP, EUR, USD, CAD, CZK, HUF, PLN, RON, HRK
External debit/credit card deposit fees for the UK:
- Crypto account: 1%
- Fiat currency: no fee
- Fiat exchange: interbank rates plus commission
- Internal transfers: free
- External transfers: blockchain fees
- Crypto exchange services: OTC rates+ commission
- No options for CFD trades
- Fiat exchange: unlimited
- Crypto transfers: per transaction: £2k; per day: £5k
- Credit/debit deposits that are unconfirmed: £35
- Credit/debit deposits that are confirmed: over £1,700
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- Many accepted currencies
- Send cryptocurrency to/from Wirex and non-Wirex wallets
- Good conditions for credit/debit card deposits, especially for ETH and Monero
- Easy to use app
| - High transaction fees
- A commission for crypto exchanges
- The need to order a Wirex card
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How to buy ETH on this exchange:
- Sign up and prove your identity.
- Order your Wirex card and use it to make a deposit in GBP or crypto of your choice.
- Choose ETH in the “crypto” section, choose the amount and go “Confirm”.
Crypto.com
- Debit card
- Credit card
- UK bank transfers via Faster Payments Service
Supported deposit currencies: only GBP or EUR
Trading fees vary depending on your level:
- Level 1, Maker fee 0.10% and Taker fee 0.16%
- Level 2, Maker fee 0.09% and Taker fee 0.15%
- Level 3, Maker fee 0.08% and Taker fee 0.14%
- Level 4, Maker fee 0.07% and Taker fee 0.13%
- Level 5, Maker fee 0.06% and Taker fee 0.12%
- Level 6, Maker fee 0.04% and Taker fee 0.10%
- Minimum withdrawal: 0.02
- Withdrawal fee: 0.01
Buy/sell limits per transaction: 200 for ETH
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- Increased limits to buy or sell ETH
- Opportunity to get some good discounts on general fees
- Low minimum withdrawals
| - Withdrawal fees
- High fees for beginners
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Here is what you should do to buy Ethereum in the UK on this platform:
- Register your account. Prove your identity by uploading a copy of your passport or ID.
- Use the currency converter to buy ETH and indicate how much you want to buy. Select “Buy ETH”.
CEX.IO
- Bank transfers
- Credit card: Visa, Mastercard
- SEPA
- Faster Payments Service
- Skrill
Supported deposit currencies: USD, EUR, GBP, RUB
Trade volume is a factor that determines the fees. They range from 0,25% Taker and 0.16% Maker fees for the lowest trade volume, and 0.10% Taker and 0.00% Maker fee for the highest trade volume.
Deposit fees:
- Visa: 2.99%
- Mastercard: 2.99%
- Skrill: 3.99%
- Bank transfer: 0%
- Faster Payments: 0%
- Visa: 3%+ 2.10 GBP. Commission up to 2.90 GBP
- Mastercard: 1.8% + 2.10 GBP. Commission up to 1.2%+ 2.90 GBP
- Skrill: 1%
- Bank Transfer: 0.3%+25 GBP
- Faster Payments: 0 GBP
There are 4 levels at CEX.IO with corresponding limits:
- Identity. Daily deposit: 2,154 GBP. Daily withdrawal: 7,180 GBP
- Address. Daily deposit: 7,180 GBP. Daily withdrawal: 7,180 GBP
- Enhanced. Unlimited deposits and withdrawals
- Corporate: Unlimited deposits and withdrawals
Minimum deposit for ETH: 0.001
Storage fee: 0,06 ETH per day
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- Regulated and well-recommended exchange
- 0 withdrawal fees with faster payments
- Easy credit/debit card deposits
- Good terms for Bitcoin (BTC), Litecoin (LTC), and Ethereum (ETH)
| - Very high deposit fees
- Minimum deposit of 0.001 for ETH
- Storage fee for ETH
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How to buy ETH on this exchange:
- Create an account on CEX.IO and go through the verification process. To do so, attach a copy of your ID or passport.
- Make a deposit to your account with your preferred payment method.
- Go to the Buy/Sell page, select ETH in the cryptocurrency list, and choose the number or the amount of ETH. Press “Buy”.
LiteBit
- Credit card: Visa or Mastercard
- SEPA transfer
- GiroPay/Sofort
- Mobile 2 app
- Bancontact
- iDEAL
- LiteBit credits
Supported deposit currencies: only EUR
For ETH and other coins, the fees are between 2-5%.
The limit is around 25,128 GBP per day.
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- Plenty of deposit methods
- Fair limits
| - The lack of transparency in fees
- Deposits only in EUR
- Works best for the EU
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How to buy ETH on this exchange:
- Register a LiteBit account and verify your account by proving your identity.
- Go to the “Buy crypto” section and select ETH.
- Indicate the amount, choose a convenient way to pay, and confirm your order.
BC Bitcoin
- Credit/debit card
- FPS
- SEPA Bank Transfers
Supported deposit currencies: GBP, EUR, USD
Bank transfer fees:
- 5% for ETH
- For purchases that exceed £5,000: 4% fee
- Credit or debit card fees: around 7.5%
Daily limit to buy or sell: 25 ETH.
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- Transparent fees
- Easy to use from the UK
- Good reviews
| - Not regulated
- Very high fees both for bank transfers and credit cards
- Daily limits for ETH
- Used mostly for BTC purchases
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How to buy ETH on this exchange:
- Create a BC Bitcoin account and confirm your identity.
- Select ETH from the list of crypto options and choose your payment method. Also, make a payment in GBP.
- Indicate the number of coins and your crypto wallet info and all other relevant information, and press “Buy”.
eToro
- Visa
- Mastercard
- Diners Club International
- PayPal
- Skrill
- Neteller
- Union Pay
- WebMoney
- Yandex
Supported deposit currencies: USD
Fees:
- Deposit fees: 0
- Withdrawal fees: 5 USD or 3.59 GBP
- Inactivity fee: 10 USD or 7 GBP
- ETH fee: 1.90 %
Crypto transfer fee for ETH: 0.26 ETH and 0.006 unit fee
No transfer fees within eToro wallets.
Limits:
- Minimum ETH transaction: 50,000 USD or around 35,914 GBP
- Maximum ETH transaction: 200,000 USD or around 143,650 GBP
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- No fees within eToro wallets
- 0 deposit fees
- Many options to make a deposit
| - High fees to and from external wallets
- There is an inactivity fee
- Supported deposits only in USD
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- Sign-up for eToro. Verify your account.
- Make a deposit in GBP that will be converted to EUR.
- Indicate how many ETH you are looking to buy and confirm.
Libertex
- Credit/debit card
- Skrill e-wallet
- Sofort
- SEPA
- Neteller
- Giropay
- Trustly
- iDeal
- Multibanco
- Rapid transfer
Supported deposit currencies: EUR
Fees:
- Minimum withdrawal fee is 10 EUR or 8,57 GBP
- Minimum deposit amount is 10 EUR or 8,57 GBP
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- Easy purchases from the UK
- Good conditions for deposits
- Regulated
| - Inactivity fee
- Rollover fees
- Not peer-to-peer
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How to buy ETH on this exchange:
- Create a Libertex account. Confirm your identity by providing an ID, passport, or another supportive document.
- Make a fiat deposit by choosing your payment method.
- Select ETH from the crypto list on the website. Indicate how much of ETH you’re buying and press “Buy”.
Where to Store Ethereum?
The best wallets to store Ethereum are Trezor Model T, Ethereum wallet, and Ledger Nano.
Trezor Model T
Trezor Model T is the premium offline crypto wallet that offers top security settings against third-party invasions, quick in-wallet exchanges, and the opportunity to perform a regular backup of your ETH assets.
Ethereum Wallet
Ethereum Wallet is a wallet from the ETH crypto developers that allows sellers and buyers to manage their funds and their ETH account analytics in one place. The wallet gives access to your balances, transactions, exchanges, and more.
Ledger Nano
This mobile-friendly wallet has fair reviews on the internet due to its super easy connectivity to your mobile phone via Bluetooth or an app. It also has an offline password request and a relatively long-lasting battery.
Cryptocurrency Regulations in the UK
An exchange is legal in the UK if it follows the following regulations:
- Registration with the Financial Conduct Authority (FCA)
- Know-Your-Customer regulation and escrow regulations
- Anti-money laundering regulation
- Anti-crypto derivatives regulations
Final Thoughts
According to the latest predictions, the price for Ether can reach new heights in the nearest future. The year 2021 is, therefore, the best year to purchase ETH at a good price before the next peak in price has occurred.
FAQ
What Is the Best Exchange to Buy ETH?
The best exchanges to buy ETH in the UK are Wirex, Crypto,com, Libertex, and BC Bitcoin.
Where Can I Buy Ethereum?
Ethereum is a popular crypto coin that is being sold on most of the exchanges at the market. You can purchase it at Wirex, CoinJar, Crypto.com, Binance, and Libertex.
Is Ethereum a Good Investment 2021?
The price of Ethereum has grown more than 5 times from April 2020 to April 2021, and it is still expecting to increase. 2021 is a good year to buy ETH before the price has reached another peak.
Can Ethereum Make You Rich?
The price of Ethereum has grown more than 5x from 2020 to 20201. The experts predict a similar growth within the next couple of years, making it one of the most profitable crypto investments of the decade.
Can Ethereum Reach $10,000?
The leading brokers, including Moonrock Capital and Blocktown Capital, predict that the ETH will reach 9,000 USD in the nearest future, following a 10,000 USD mark shortly afterward.
