Where & How to Buy Ethena (ENA) for Beginners in 2024

Use our step-by-step guide to learn how and where to buy Ethena on 5+ highly rated crypto platforms.
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Updated: Jun 26, 2024
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Ethena coins are available buy via a cryptocurrency exchange, which functions similar to a stock trading platform. It takes just a few minutes to buy Ethena this way. Follow our quick step guide below.

How to buy Ethena quickly in 3 steps

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To buy Ethena you need a smartphone or a computer and an internet connection. It takes 10-15 minutes the first time and you should have some photo ID to hand. Here’s how to do it.

Step 1. Sign up to a crypto platform

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We’ve ranked Start Trading as the best crypto platform to get started with. Alternatively, there are several other options to select from below. Anyway, create an account and supply a copy of your photo ID for verification.

Step 2. Make a deposit

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Add funds via a card payment, bank transfer or an alternative payment method. You can start with as little as $100 on most services.

Step 3. Buy Ethena token

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Locate the search box and type ENA. Once you locate the coin trading page, enter how much money you want to spend and hit ‘trade now’.

Now you own Ethena tokens! Not a big deal, right?

Where to buy ENA easily

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The overall best platform to buy Ethena for beginners is Start Trading .

Here are the top five places to buy Ethena, ranked according to their simplicity for beginners, fees, customer reviews, and safety ratings.

Read more about how we rate, rank and review platforms.

Best exchanges to buy Ethena (ENA), reviewed

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How to trade ENA

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You can trade Ethena on a cryptocurrency exchange using a few simple steps. Here’s a quick example that clearly lays out how ENA crypto trading works:

  1. Monitor the price: For simplicity, let’s say the price of ENA/USDT is $1. You read the price charts and decide that now is a good time to start purchasing ENA.
  2. Open a trade: You trade one USDT for one ENA ($1 USD for 1 ENA).
  3. Continue to monitor the price: The following month, one ENA token is now worth $2, a 100% increase.
  4. Close your trade: You trade your ENA token back to USDT for $2.

In this example, you buy and sell Ethena, doubling your money (trading). While the steps are simple, executing them in a profitable way is not so easy. You need to spend countless hours learning to trade, reading charts, technical patterns, and understanding markets and margin trading; which you can do right here on Invezz.com.

What is the best way to pay for Ethena (ENA)?

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The simplest way to buy Ethena cryptocurrency is with your bank card. However, there are plenty of other options as well. Here are some of the top ways to pay for ENA.

  • Buy Ethena with a credit card or debit card. Card payments are convenient and instantaneous but you may have to pay a higher fee to make a deposit this way. Binance charges 1.8% for a card deposit and some platforms charge as much as 4%.
  • Buy Ethena with bank transfer. A bank transfer is usually the cheapest way to buy crypto. Crypto platforms like Crypto.com and Coinbase do not charge for bank transfer deposits, while Binance only charges a $1 fee, and these transactions are more or less instant as they run through the Automated Clearing House (ACH) in the US, Faster Payments System (FPS) in the UK, or Single Euro Payments Area (SEPA) in Europe.
  • Alternative payment methods. Crypto brokers often let you pay with other providers or money transfer services, like Neteller, Venmo, or Payoneer. The options vary by broker, though, so check what’s accepted before you sign up.

How do I store Ethena (ENA)?

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Most people keep their crypto on the exchange they used to buy it. If you only plan to hold onto it for a little while then that’s a perfectly acceptable option. If you want to hold it for years or you own a lot of Ethena then you should move it to a crypto wallet.

A crypto exchange is similar to a bank account, in that it means trusting a company to protect your funds for you. A wallet is like your personal wallet, or a safe, where you take responsibility for it yourself. Two of the best Ethena wallets to use are MetaMask and the Ledger Nano S.

Is now a good time to buy Ethena?

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The answer depends on the current price and your own investment goals. Put simply, buying Ethena, selling Ethena, and trading ENA are all the exact same process in literal terms. It’s really just your personal investing intentions that defines whether ‘now’ is a good time to invest or not.

  • If you’re a trader: as a cryptocurrency trader, your goal is to make money trading regularly. What do we mean by regularly? Hourly, daily, weekly. Traders buy and sell a coin quickly to secure their profit (or to avoid a loss). They don’t #HODL a coin long term in the hopes of larger profits. In this sense, any time is a good time to trade Ethena.
  • As a long-term investor: a long term investor is not concerned if the price is up or down 10% on any given day. Rather, they care that the price of the native token is overall up months or years later, when they’re ready to sell that investment. So if you’re a firm believer in the foundations of ENA, then a good time to purchase Ethena is on any major dip.

In our experience, most newcomers to the crypto market sit between the two. You don’t want to wait several years for a return, but buying Ethena and selling it the next day probably isn’t why you’re here either.

How has Ethena (ENA) performed this year?

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The current Ethena price today is $0.41, which is -72.74% versus its all time high of $1.52, which it reached on 11 April 2024. ENA is 0.00% this year, with a 52 week high of $1.52 and a 52 week low of $0.35. 

Regardless, closely following Ethena price news & analysis will help you decide when to pull the trigger.



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