HomeHow to Buy Ethereum in the UK in 2023

How to Buy Ethereum in the UK in 2023

Last updated 16th Jan 2023
Disclosure

Ethereum (ETH) is known as a "Blue-Chip" coin owing to its smart contract capability, disinflationary supply, and competent performance in the cryptocurrency market. It is the largest smart contract network, making it the optimal investment for most crypto enthusiasts.

In the UK, investors can purchase Ethereum through brokers, exchanges, P2P marketplaces, and others. This guide will cover the top platforms for buying Ethereum in 2023, the fees you'll encounter, and more.

Best Exchanges to Buy Ethereum in the UK

1
eToro
Minimum Deposit
$50
Exclusive Promotion
User Score
10
More than 3,000 assets, including currencies, stocks, cryptocurrencies, ETFs, indices and commodities
Buy crypto, or trade cryptocurrencies via CFDs
This ad promotes virtual cryptocurrency investing within the EU (by eToro Europe Ltd. and eToro UK Ltd.) & USA (by eToro USA LLC); which is highly volatile, unregulated in most EU countries, no EU protections & not supervised by the EU regulatory framework. Investments are subject to market risk, including the loss of principal.
2
Opensea
Minimum Deposit
$
Exclusive Promotion
User Score
7
The largest NFT marketplace
3
NBA Topshot
Minimum Deposit
$
Exclusive Promotion
User Score
7
Made for NBA fans
4
Rarible
Minimum Deposit
$
Exclusive Promotion
User Score
7
Aggregated NFT marketplace
5
SuperRare
Minimum Deposit
$
Exclusive Promotion
User Score
6
NFT Art Marketplace

Buy Ethereum on Etoro: Step-By-Step Guide

Step 1: Open eToro
Step 2: Verify your identity
Step 3: Deposit
Step 4: Buy Ethereum
Additional Step: Send Ethereum to a wallet

eToro - The Overall Best Way to Buy Ethereum in the UK

eToro is our top choice for buying Ethereum, as this platform offers straightforward interfaces, multiple deposit options, and a demo account. Moreover, you can learn how to trade cryptocurrencies with the eToro academy, making eToro ideal for beginners. Here are some interesting stats about the platform:

💰 Trade Values:CFDs, ETFs, Currencies, Indices, Cryptocurrencies, Stocks, and Commodities.
📊 Software:Web application and smartphone application
🏆 Demo Account Available:Yes
📺 Ease of use:Excellent
⭐ Our rating:5/5
📱 App Available:iOS and Android
🧩 Regulation:Cyprus Securities and Exchange Commission (CySEC)
💰 Fees:1% of purchase order
🔁 CFDs Available:Yes
⚽ Social Trading:Yes

How We Compare

In the comparison table, we include crucial information such as trade values, fees, and ease of use so if you are new to cryptocurrencies, you know which platforms are the easiest to navigate and where to go to avoid hefty transfer fees. For your peace of mind while trading, we state whether or not each crypto is regulatory-approved and by which institutions.

We even add our own overall rating of each crypto coin.

There is a lot happening in the cryptocurrency market right now, with a variety of tokens created on different platforms and a mode of operation that is very unlike that of traditional financial institutions. Both novice and experienced investors can use our comparison tables to simplify the process of identifying the right cryptocurrencies for them.

As with any investment, the decision to enter the cryptocurrency market requires thorough research. You can rely on us to provide the most up-to-date and accurate information, as we only use credible and reputable sources for our content. This puts investors in the best position to make smart crypto decisions.

Best Ethereum Broker UK - Platforms to Buy and Trade Ethereum

In this section of the guide, you will explore the best platforms to purchase or trade Ethereum.

Buy Ethereum using cryptocurrency brokers - the easiest way

Cryptocurrency brokers are websites and apps that let traders deposit fiat or crypto to trade coins. These platforms are the ideal choices if you want to trade ETH in the UK since they offer easy methods for acquiring digital assets.

ProviderFee (GBP 1000)
🥇 CoinbaseThe spot trading fee starts at 0.6%.
🥈 eToro£8.60
🥉 Crypto.comThe spot trading fee starts at 0.0750%. Varies based on trading level.

Coinbase

Coinbase is the ideal choice due to its simplistic design principles that make it easy for users to trade. The platform hosts multiple trading pairs for Ethereum and an educational section to help those with less investing experience.

eToro

If you are searching for the best Ethereum broker in the UK, eToro is the only CFD (Contract For Difference) crypto broker that lets you withdraw coins to their digital wallet for better security. Moreover, the users can also navigate around the demo account to test the broker's services and various deposit methods, including PayPal.

Crypto.com

If you need an interactive mobile app for your Ethereum buying activities, then Crypto.com is an excellent option because it offers a diverse set of features like staking, trading, and a DEX. Also, the exchange provides a desktop version of the app where you can use advanced tools for trading.

Best Wallet to Buy and Store Ethereum - ETH Wallet Comparison

It is in the best interest of users to store their Ethereum holdings in their personal cryptocurrency wallets to experience robust security and convenience. With these wallets, investors can transfer coins and connect to DEXs. Also, some Bitcoin wallets like Trust Wallet, Ledger Nano X, and Trezor Model T are compatible with various other coins, including Ethereum.

ProviderWallet Type
🥇 Ledger Nano XHardware
🥈 Trezor Model THardware
🥉 MetaMaskSoftware

How to sell Ethereum in 2023 using Etoro?

Selling coins like ETH is a smooth process with eToro. Here’s a simple guideline for cashing out your investment:

  • Step 1: Sign in to eToro and head over to the cryptocurrencies tab. Select ETH to open the trading interface.

  • Step 2: At the top of the page, select the sell option and input the amount of ETH to exchange. Review the order and press “Open Trade” to finish.

Buy Ethereum Using CFDs - Best for Trading

Another way to invest in Ethereum is by signing up on a crypto broker platform offering ETH through Contract For Differences (CFDs). This is a derivative product which means you won’t have real ownership of the asset and must leave your invested funds with the broker.

Despite not providing full ownership of Ethereum, these platforms often have easier investing processes. Below you’ll find the top options that provide quick deposit methods, great security, and convenient sign-up processes.

ProviderFee (GBP 1000)
🥇 eToro£8.60
🥈 EightcapMarket Spread

eToro

This CFD broker offers a wide range of services like copy trading and charts to help beginners trade with ease. Additionally, you can open a demo account to learn the risks of investing before depositing real money.

Eightcap

Eightcap offers over 250 crypto derivatives with options for going short or long on coins such as Bitcoin, Ethereum, and Dogecoin. Moreover, this CFD broker offers a dedicated learning section and analytics that track recent market developments.

Best apps to buy Ethereum - most convenient

The apps listed below provide outstanding services to investors, including but not limited to staking programs, cashback spending offers margin trading, Cryptowatch, and more.

In addition, all these apps support instant conversion, letting you buy crypto immediately and conveniently with a bank card.

ProviderFee (GBP 1000)
🥇 CoinbaseThe spot trading fee starts at 0.6%. Varies based on trading volume.
🥈 Crypto.comThe spot trading fee starts at 0.0750%. Varies based on trading level.
🥉 Kraken£2.25. Varies based on trading volume.

Buy Ethereum on eToro App: Step-By-Step Guide

Step 1: Create an account
Step 2: Verification
Step 3: Deposit money
Step 4: Buy ETH

Buy Ethereum With Exchanges - The Cheapest Way

Using a centralized cryptocurrency exchange is one of the most convenient and cost-effective options to trade, buy, and hold Ethereum in the UK. These exchanges offer a favorable fee structure along with advanced security options, customer support service, and more.

The selected options disclosed below further reduce the trading fees based on a 30-day trading volume. On top of that, Binance and KuCoin have native tokens, which allow investors to claim further discounts on fees.

ProviderFee (GBP 1000)
🥇 BinanceThe spot trading fee starts at 0% and goes to 0.1%.
🥈 KuCoinThe spot trading fee starts at 0.1%.
🥉 Kraken£2.25

Buy Ethereum on Binance: Step-By-Step Guide

Step 1: Open Binance and register
Step 2: Deposit
Step 3: Open the trading interface
Step 4: Complete the trade
Additional Step: Confirm the transaction using the blockchain explorer

Buy Ethereum Using Decentralized Exchanges (DEX) - The New Way

DEXs are peer-to-peer marketplaces where cryptocurrency investors can trade, stake, and enter liquidity pools. These applications are built on top of the blockchain network and are not regulated by any government authority.

Due to the decentralized nature of DEXs, there is no sign-up or verification process required, making it perfect for investing anonymously. Have a look at the top three decentralized platforms below:

ProviderFee (GBP 1000)
🥇 UniswapVaries
🥈 SushiSwapVaries
🥉 CurveVaries

Can You Buy Ethereum Using P2P Services?

Here are some peer-to-peer platforms if you’re interested in buying Ethereum in the UK through an alternative method to exchanges and CFD brokers.

ProviderFee (GBP 1000)
🥇 Binance P2P£0 - £3.00
🥈 KuCoin P2P£0
🥉 PaxfulVaries

What Is the Difference Between Buying Ethereum and CFDs?

When buying Ethereum, you can spend, store, and trade it whenever you like. However, when using an Ethereum CFD broker, you purchase a derivative product instead. This means you’ll invest in Ethereum but not actually own any real assets.

Pros

No Liquidity issues.
Brokers issuing Ethereum CFDs offer easier buying processes.
No need to set up a crypto wallet and store coins.
Must verify your identity before using a broker to buy CFDs. This eliminates fraudulent activities on the platform.

Cons

CFDs are only investment assets, and you cannot use your ETH to buy products or services.
You have no ownership of the real coin.
Significantly more fees than buying the real asset.
You must leave your investments with the CFD issuer and cannot withdraw to a secure crypto wallet (eToro is an exception).

What Are the Fees When Buying Ethereum in the UK?

The table below calculates the fees you’ll pay if you buy £1,000 worth of Ethereum and hold it for 30-days.

PlatformeToro BrokerBinance Exchange
Deposit fees£0£0
Purchase fees£8.60£0.86
Holding fees£0£0
Selling Fees£10£0.86
Payout fees£4.35£13
Total fees£21.75£11.30

Cheapest Way to Buy ETH in the UK

Binance, KuCoin, and BitFly have the best fee structures starting at 0.01%. These costs can be further reduced if you will use the native tokens of the exchanges or have a high 30-day trading volume.

ProviderFee (GBP 1000)
🥇 BinanceThe spot trading fee starts at 0.1%. Varies based on trading volume
🥈 KuCoinThe spot trading fee starts at 0.1%. Varies based on trading volume
🥉 BitFly£0

Fastest Way to Buy ETH in the UK

The platforms selected underneath were chosen for their fast sign-up and deposit processes. Also, they do not have complicated interfaces, and some offer instant buy sections. This means you can input your bank card details to buy ETH fast without encountering trading pages.

ProviderFee (GBP 1000)
🥇 eToro£8.60
🥈 CoinbaseThe spot trading fee starts at 0.6%. Varies based on trading volume.
🥉 Crypto.comThe spot trading fee starts at 0.4%. Varies based on trading volume.

How to Buy Ethereum Anonymously in the UK?

This part of the guide covers how to buy Ethereum without revealing your identity.

How to buy Ethereum without registration or KYC?

A decentralized exchange is the best choice when buying ETH without creating an account or fulfilling a KYC process. These dApps will not request your details, hence facilitating anonymous trading. The top DEX to use is Uniswap, thanks to its compatibility with multiple wallets.

Can you buy Ethereum offline?

To buy Ethereum, you’ll need an internet connection to deposit funds, trade, and transfer coins. Therefore, you cannot buy ETH offline.

Exchanges like Binance will let you trade cryptocurrencies for Ethereum without completing an ID verification process. However, you cannot deposit fiat currency, and there will be withdrawal limits.

Should You Buy or Sell Ethereum?

Ethereum is one of the best projects that go beyond the concept of digital currency. Innovations like smart contracts and decentralized applications, followed by a diverse development community, make Ethereum a promising cryptocurrency to invest in. If you’re undecided on the project, here are some pros & cons:

Pros

Ethereum is the largest smart contract cryptocurrency.
Ethereum is an established coin with the second largest market cap.
The network is fast and relatively inexpensive
Large, diverse, and growing community.

Cons

Fees are ultra-high for making transfers.
Ethereum has scaling issues, which is evident with the high gas fees.
Although ETH is considered a blue chip coin, its price is highly volatile.
ETH has a huge market cap, so the profitability margins aren't as big.

Alternatively, if you don't want to put your pounds into ETH right now, check out these guides to buying other coins in the UK:

Remember, you must pay capital gains tax on crypto that you’ve sold at a profit in the UK

What Impacts Ethereum Price?

Several factors can impact Ethereum’s price and swing it in either direction. If you’d like to find out more, here are the main causes:

  • Demand: An increased demand can increase the price as more investors want to acquire ETH, and fewer people are selling.

  • Competition: Many smart contract projects like Cardano have been called the next “Ethereum Killer” since they offer lower fees and faster transactions. This means similar projects are taking a slice of Ethereum’s market share and affecting its price.

  • Regulation: Cryptocurrency adoption must rise for coins to gain value since new investors enter the market.

  • Market status: Bull and bear run heavily dictate how the prices will ultimately shift. During bear runs, prices are likely to fall and not grow, while during bull runs, we can expect to see new all-time highs with significant market growth.

Historical Ethereum Course: Major Milestones in the History of Ethereum

Here is a historical chart of how Ethereum has performed since its creation.

Other Ways to Make Money With Ethereum in 2023

Ethereum is a dynamic coin, offering multiple ways to make money from it. The following section will expand on how you can earn money with Ethereum in 2023.

Stake Ethereum using DeFi or CeFi

Staking is a way to earn rewards for helping the network by allocating your Ethereum to a pool. Your Ethereum can be in a locked or unlocked stake, which changes the reward amount. During this process, you cannot withdraw or spend your Ethereum.

Buy Ethereum using ETPs (ETFs & ETNs)

Exchange-traded products (ETPs) are securities found in the stock exchange. The best platform for buying Ethereum ETPs is VanEck.

Buy and sell NFTs using Eth?

Non-fungible tokens have become the trend since the 2021 bull run. These unique tokens make them the ideal technology for making tickets, storing digital art, and more. OpenSea is the largest platform for selling and buying Ethereum NFTs.

Buy stocks & shares in companies owning Ethereum

Coinbase is the largest publicly traded company holding significant quantities of Ethereum. This is to provide liquidity to their platform and hold it as an investment asset for the long term. You can purchase Coinbase stock with a premium broker like eToro.

Ethereum mining

Mining is an operation in which your computer solves complex mathematical problems to verify the transaction and earn block rewards.

Use Ethereum faucets

Cryptocurrency exchanges offer faucets, which are quizzes or courses you complete for a cryptocurrency reward. The most beginner-friendly option for doing this activity is with Coinbase, as they offer a variety of faucets.

What to Consider Before Buying Ethereum in the UK

There are certain considerations to take into account before buying ETH:

Fees: All brokers charge their services, but some of them are more expensive than others.

Limits: There are limits to how much you can deposit and withdraw using bank transfer, in addition to trading limits. All of those should be taken into account when selecting the right platform for you.

Speed: A bank transfer isn’t the fastest payment option out there, but you can minimize the time required to deposit by selecting a broker that offers instant transactions.

Security: Bank transfers are safe and secure, but you also need to make sure that the broker of your choice also has all the security protocols in place to maximize your protection.

User experience: Some crypto trading platforms are more convenient to use than others.

What Are the Alternative Payment Methods to Buy Ethereum in the UK?

Instead of using an Ethereum broker, you can always use some of the methods from the list below:

E-wallets: There are several great e-wallet options, with the most popular one being PayPal. They are fast, secure, and convenient. Moreover, they are accepted by many online crypto brokers.

Credit /debit cards: If you have a bank account, chances are you already have a credit or debit card. Some of the most popular brands are Visa, Mastercard, American Express, and Discover.

Apple Pay: If you own an Apple device, you can set up its unique payment method, which offers fast and affordable transactions. Moreover, plenty of online brokers accept this method.

Trading cryptocurrency is high-risk and speculative.

FAQs

What Is the Best Provider to Buy Ethereum in the UK?
What Is the Cheapest Provider to Buy Ethereum in the UK?
Is There a Limit to How Much ETH I Can Buy?
Can You Buy Ethereum on the Blockchain?
What Can You Buy With Ethereum?

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Danny Maiorca

Danny Maiorca

Danny is a freelance writer specialising in technology and finance. Prior to working for himself, he spent several years working within those sectors in London. Since then, Danny has relocated to Denmark.