4 Easy ways where to buy Ethereum – Cheap & fast
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Ethereum is a platform for building out new smart and decentralised applications. It was developed and created chiefly by Vitalik Buterin.
There is a huge interest in Ethereum and its cryptocurrency Ether (ETH.
To help newcomers to this space I thought I could share with you a buying guide to Ethereum. So that you can invest safely in ETH and buy Ethereum cheaply and fast.
What is Ethereum and Ether?
Ethereum is the blockchain, the platform that enables the easy-creation of new dApps (Decentralised Applications), new tokens (popular via the ICOs) and packed with lots of smart features.
And Ether is the cryptocurrency native of the Ethereum blockchain. It is used on the network to fuel transactions and other usages.
Behind Bitcoin there is no other cryptocurrency with so much potential and interest. I myself am a big fan of ETH and I follow it with interest. And therefore I wanted to share this guide to buying ETH easy and cheaply with you all.
This is how you buy Ethereum cheap and fast
Before I share with you the recommended sites and cryptocurrency exchanges for where to buy ETH I wanted to summarise the general steps for buying Ether:
- Find a place to buy ETH from
- Select a wallet to use for your ETHs to be stored via
- Send your ETHs to your wallet
I will guide you to a few different options for buying ETH in this guide. I will show you the cheapest way to buy Ethereum as one option.
Another option will be how to buy Ethereum fast. And additionally I will add how to buy large quantities of Ethereum. And other popular methods are also included as a bonus!
How to buy Ethereum cheaply!
Ok so if you want to invest in Ether and you want to do so as cheaply as possible then in my experience the best option would be for you to buy ETH via a bank transfer, or via a cryptocurrency trade.
When doing a bank transfer you can save on fees compared to card payments. And for cryptocurrency trades you can buy ETH very cheap, but then you need to have another cryptocurrency like BTC to trade it with.
So if you don’t own any cryptocurrency today and you want to buy Ethereum to a low cost and without hefty fees then use a bank transfer.
Here below are my two recommendations for sites to use to buy Ethereum with a bank transfer cheaply.
So what you need to do is to register an account with either Coinbase or Kraken. Then you add your bank account/make a bank transfer from your bank to your Coinbase/Kraken account.
This is the general process for buying ETH via Coinbase
- Register an account
- Add/link your bank account
- Make the bank transfer to your Coinbase account
- Purchase ETH from your USD/EUR/GBP wallet
- Send your ETHs to the wallet of your choice
How to buy Ethereum fast
The second part of this guide is covering how to buy Ethereum fast. Because if you use a bank transfer you will most likely need to wait between 1-3 days for you to complete the whole process and get your ETHs.
So if you don’t want to wait that long and you want to invest in ETH now directly then follow these steps and sites below.
The fastest way to buy Ether would be via a card payment, or via a cryptocurrency trade. But again if you don’t own any cryptocurrencies then I would recommend you finding a sites which accepts card payments for ETH.
Here below I will mention a few that does, and sites that I trust myself and have used to buy ETH at before.
My recommended sites to buy ETH fast at:
Here again we have Coinbase and this is because they also accept card payments for users that want to invest in cryptocurrencies.
Then the other two sites are other options to use in case you wanted to branch out from Coinbase.
These are all fine sites to use and used by millions of other traders and investors.
This is how you buy ETH fast at Binance.
- Register an account with Binance
- Head to buy crypto –> buy with credit/debit card and find ETH from the list
- Enter the amount and then your card details and complete the purchase
- Send your ETHs to your selected Ether wallet
The process of using Changelly or Coinbase is similar to the one above. And for Coinbase you can follow the process we mentioned earlier, and instead of adding your bank account you add your card.
- NOTE: You might need to complete some KYC checks when buying ETH with a card or bank transfer at most sites today
How to buy large quantities of ETH
If you are looking to buy large quantities of ETH, and I am talking about more than $100k worth of ETH then I would recommend that you use an OTC desk.
An OTC desk is like a broker service that helps a buyer and seller negotiate a set price to buy cryptocurrencies at.
This is recommended to avoid slippage (what is slippage) and to avoid any delays in finalising the purchase.
The process of buying ETH via an OTC desk is similar to the other options but here you usually speak with an OTC trader working there and then you set the terms with that trader.
So see it as a personal assistant to buying ETH via. You say how much you want to buy for and then you’ll get an indication of current prices and what you could expect to pay.
There could be fixed prices or more flexible depending on what you want.
Recommended OTC desks to use to buy ETH from:
Buy Ethereum at a cryptocurrency exchange
This would also be one of the cheapest ways to buy ETH by. This would incur low fees or no fees at all. Depending on which exchange you use and its trading fees.
So if you already own some BTC, LTC, XRP or whatever then you can simply join a cryptocurrency exchange that trades ETH and then deposit your cryptocurrencies at that exchange and trade them for ETH.
To find exchanges that trades ETH you can use either of these sites:
These sites help you find exchanges that trade ETH and what current price in USD there is at each of those exchanges.
My go-to exchanges for buying cryptocurrencies at are:
There are many other exchanges, find our list of top recommended exchanges here. But the truth of the matter most of the top-recommended exchanges are fine to use for buying ETH.
I would use one of the more popular exchanges when buying and selling cryptocurrencies. As there are many exchanges with poor security in place, or even potential scams.
That part covered where to purchase Ethereum, now lets move on to where to store Ethereum.
Find a good wallet for your ETHs
Finally after we have bought Ether at any of the above-mentioned sites, exchanges, or OTC desks I would recommend you find a good wallet to use for storing your ETHs.
You can store your Ethers at the cryptocurrency exchanges, but be aware that then you expose your cryptos to greater risks of hacks or losses (read more about hacks).
So my personal recommendation and what I do is store my cryptocurrencies myself using a wallet that I own.
I have bought myself a hardware wallet because they are the most secure type of cryptocurrency wallet. And I would recommend you do the same.
But there are other wallets that you can use for free, that lets you control your cryptocurrencies.
Find other good ETH wallets here
Helpful links for Ethereum:
That’s the end of this guide to buying Ethereum. I covered a few different options here.
- How to buy Ethereum cheaply via a bank transfer
- Buying ETH fast via card purchase
- Buying large quantities of ETH via an OTC desk
And obviously these recommended sites and exchanges are some of the options where to buy and sell Ethereum. There are others. But these ones I’ve used, besides any OTC desks. I haven’t bought or sold cryptocurrencies in those amounts (yet ;).
If you have bought ETH at an OTC desk and you want to share some insight into how that works then let me know in a comment below!
And I also shared a list of top Ethereum wallets to use and my recommendations to use a hardware wallet.
So now you should have a good range of options to choose from depending on what you think is most important.
If you know someone else that is looking to buy ETH for the first them then share this guide with them to help them get started.
If there is anything you are wondering about then contact us or leave a comment below!
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- Gemini vs Coinbase comparison
Hello and welcome to Go Cryptowise.
My name is Per Englund and I’m a long-term fan and investor of Bitcoin and other cryptocurrencies. I’ve been around the space for a good few years, learning how it all works and to be a part of this engaging community.
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