Compare the best Ethereum platforms, exchanges & apps in 2023

By:

Harry Atkins

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James Knight

James is a lead editor for Invezz, where he covers topics from across the financial world, from the stock market, to cryptocurrency, to macroeconomic markets. His ... read more.

Updated: May 31, 2023

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9/10

82% of retail CFD accounts lose money.

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Our reviewing panel used 8 criteria to find the top Ethereum exchange. Those were their security and regulation, transparency and proof of funds, cost of trading, their demo account, ease of use, the quality of their mobile app, the range of order types, and the trading and analysis tools on offer.

If you want to get your hands on some Ethereum, this is the best place to start.

Best Ethereum exchanges overall for 2023

Where can I buy Ethereum on an exchange?

We recommend eToro . They offer the cheapest trading on a secure platform, with plenty of trading options. Here are the top three Ethereum platforms overall.

Most Popular

1

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Min. Deposit

$ 10

Best offer

User Score

10

Up to $240 bonus!

Build a diversified portfolio with crypto, stocks, and ETFs — all in one place.

Trade on the world's leading social trading and investing platform

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Payment Methods:

Bank Transfer, Credit Card, Debit Card, PayPal, Wire Transfer

Full Regulations:

CySEC, FCA

77% of retail CFD accounts lose money.

2

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Min. Deposit

$ 0

Best offer

User Score

9.9

Get insights from millions of investors, creators, and analysts

Build your portfolio of stocks, ETFs, and crypto–all in one place

No minimum deposit

Start Trading more info

Payment Methods:

Bank Wire, Check, Debit Card, Wire Transfer

Full Regulations:

Cryptocurrency execution and custody services are provided by Apex Crypto LLC (NMLS ID 1828849) through a software licensing agreement between Apex Crypto LLC and Public Crypto LLC. Crypto trading on Public platforms is served by Public Crypto LLC and offered through APEX Crypto. Please ensure that you fully understand the risks involved before trading.

3

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Min. Deposit

$ 1

Best offer

User Score

9.3

0% deposit fees, 0% withdrawal fees, 0% trading commissions

Set up automated trades and up to 50 limit orders with ease

Buy and sell 90+ cryptos and utility tokens, precious metals and national currencies with as little as $1

Start Trading more info

Payment Methods:

Full Regulations:

Top 5 Ethereum exchanges, reviewed

1. eToro. Best for beginners, copy-trading & demo-account

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1500

No. assets

$10

Minimum deposit

Crypto

Platform type

Pros & Cons

Great for beginners, simple to set up and get started Zero commission stock trading Popular ‘CopyTrader’ function lets you follow top traders Excellent customer service, with live chat support provided Over 2,000 CFDs available to trade

Comparatively high fees for withdrawals and account inactivity Does not integrate with the MetaTrader platform High spreads on some assets

Overview

We love eToro because it makes it simple to trade crypto at home or on the go. If you’ve never bought cryptocurrency before, then eToro makes it simple to buy 75+ of the leading coins, including the likes of Bitcoin, Ethereum, and Dogecoin. Every crypto trade comes with a flat 1% fee, which makes it one of the cheapest crypto brokers on the market to boot.

As well as being a broker that offers lots of investor protection, eToro offers a very social trading experience. You can easily see what’s trending on the crypto market every day, browse the latest technical analysis about every one of those tokens, and copy other people’s trade suggestions from your desktop or the eToro app.

The fees: You will be charged a 1% fee every time you buy or sell crypto. The charge is included in the market price that’s displayed on eToro. CFD trades may be charged an overnight or weekend fee if you leave the position open.

Visit eToro eToro Review

77% of retail CFD accounts lose money.

2. Public. Best for sharing beginner trading ideas

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...

No. assets

...

Minimum deposit

Crypto

Platform type

Pros & Cons

Commission free stock and ETF investing Share and compare your portfolio on a social trading platform Trade crypto, fractional shares, and alternative investments

You can't trade on margin or use leverage No forex, options, funds, metals, or bonds

Overview

We love Public because it’s a social platform where you can share trading tips and get ideas from other people. Public offers 9,000+ financial instruments, including cryptocurrencies and stocks from around the world.

Alongside a community of other investors all sharing their ideas, Public offers real time news and information so that you can see the full picture before you invest. And the assets don’t just include your run-of-the-mill assets; you can make alternative investments in things like handbags and comic books as well.

The fees: Cryptocurrency trades are charged a 2.5% fee per transaction. 

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3. Uphold. Best for building long term wealth

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...

No. assets

$1

Minimum deposit

Crypto

Platform type

Pros & Cons

Wide range of cryptocurrencies available Zero deposit and withdrawal fees Crypto wallets to store your coins Low minimum deposits and fast account set up

Spreads can be high for some cryptocurrencies Services vary depending on region Customer support is limited

Overview

We love Uphold because it’s a regulated and transparent digital asset platform. There are 160+ cryptocurrencies available to hold and trade, along with three fiat currencies; GBP, EUR, and USD. 

Uphold’s key features include the ability to schedule transactions to avoid trying to time the market. With a focus on long term wealth building, Uphold also offers the ability to earn rewards of up to 25% on staked crypto, as well as 4% cashback paid in XRP for purchases made with the Uphold card.

The fees: Crypto spreads start from 0.9% and are usually lower than 1.3% for BTC and ETH. Other cryptocurrency spreads are higher. Average spreads on fiat currency are 0.2%. There is a $0.99 fee for transactions under $100 made with the Uphold card.

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4. OKX. Best for futures and margin trading

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...

No. assets

$50

Minimum deposit

Crypto

Platform type

Pros & Cons

Stake ETH to freely mint FIFA WORLD CUP 2022 NFTs & big prizes 350+ cryptocurrencies & NFTs available across 650+ trading pairs Crypto spot & derivative markets available Pay using hundreds of local payment methods

Not available in the US Lack of fiat withdrawal options

Overview

We love OKX because it’s an adaptable and flexible exchange, with an app that’s available in three different versions depending on how you trade. Choose from the beginner-friendly Lite version, Web3 option for NFT traders, or the Pro version for a plethora of trading tools. 

From an app or desktop you can trade 350+ crypto coins on one of the world’s top crypto exchanges. You can fund your account easily, through a variety of simple payment methods, and a sliding scale of fees that means you can access discounts by holding the OKB token or trading high volumes.

The fees: Regular users pay a 0.1% fee on spot crypto trades. OKB crypto holders are entitled to a discount, up to 0.02% off for holding more than 2,000 coins. High volume traders are also entitled to a discount, with the cheapest fees available for traders with a 30 day trading volume above $10,000,000,000.

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5. Nexo. Best for earning interest & rewards

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...

No. assets

...

Minimum deposit

Crypto

Platform type

Pros & Cons

Offers excellent rates of interest on crypto and fiat savings Nexo debit card makes it easy to access and spend your funds Access crypto loans and collateral Equipped with top quality security infrastructure and insured

No anonymous option, your identity must be verified to place buy and sell orders Margins calls if the value of your collateral drops between a certain level

Overview

We love Nexo because you earn rewards every time you make a purchase. You can trade 60+ cryptocurrencies and earn rewards of up to 0.5% on every transaction, then store your coins on Nexo to build your wealth through passive interest payments.

You can trade on the go from a mobile app and Nexo is designed for simplicity. Every trade is locked in at the rate you see on your screen, so you won’t suffer from price slippage, and it has the added bonus that any crypto held in your account automatically starts to earn interest. 

The fees: Nexo charges a 2% spread on buy and sell transactions. There are no fees for storing coins in your Nexo account. Depending on your loyalty tier, you receive a fixed number of free withdrawals, and any additional withdrawals will be charged a network fee. 

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What is an Ethereum exchange?

It is a marketplace where Ether (ETH) can be bought and sold. Most platforms let you buy and sell Ethereum with fiat currency like GBP or USD and most let you buy or sell many other cryptocurrencies as well.

In some cases you can only swap between cryptocurrencies, so you have to own some Bitcoin in order to use one, although this is increasingly rare.

How do Ethereum exchanges work?

Exchanges offer two ways through which you can trade Ethereum. These are:

• Market orders. With this order, you get the current best available price at the time of purchase or sale of your ether, and the order is executed instantly, making it the quickest way to buy and sell Ethereum online.
• Limit Orders. A limit order allows you to buy or sell an asset at a fixed price. As soon as another user is willing to meet your specified price, your order will be executed.

How do I use an Ethereum exchange?

It’s simple. You start by setting up an account and going through the necessary verification steps (like uploading ID documents to prove your identity and address). You can then make a deposit using your preferred payment method, or deposit cryptocurrency through the exchange’s wallet address to exchange for Ethereum.

Your payment method will dictate how fast the funds may arrive in your account. For example, funds deposited via bank transfer might take up to 5 days to show up on your account, whilst deposits made via credit card will usually appear in an instant.

What’s the difference between an Ethereum broker and an exchange?

The main difference is who you are trading with. With an ETH broker, you’re usually trading directly with the platform, whereas with an exchange you’re making deals with other people (known as peer-to-peer).

A crypto exchange is a fully open marketplace where people can trade cryptocurrencies between each other, whereas brokers offer Ethereum and other cryptocurrencies based on the value determined by exchanges and allow users to speculate on price movements using CFDs.

What should I look for in an Ethereum exchange?

There are a number of factors to consider when choosing an Ethereum app. Below, we’ve listed all the most important ones.

Exchange security

Crypto exchange security is a hot-button issue these days. It’s very important to choose a reputable platform. All the Ether exchanges ranked on this page have passed our security checks but if you want to research for yourself then you should look for audited proof-of-reserves.

You want to be sure the Ethereum exchange you pick stores customer assets securely and separately from its operating capital. You also want to make sure it has enough physical assets to back all the digital assets stored on the exchange.

Trading fees

This is probably the most important factor. Most Ethereum exchanges charge a trading fee, often between 1-2%, on top of every transaction you make. The listed market prices usually do not include this, so be diligent and compare the different trading fees offered by different platforms.

Geographical restrictions

Not all exchanges are freely available in all countries. An Ethereum brokerage like Coinbase only supports 32 countries, whereas an Ethereum exchange like Binance supports all countries. Check that the platform you want to use is available where you are.

Payment fees

There might be depositing and withdrawal fees that vary from exchange to exchange. They will often also depend on your payment method. Make sure your profits aren’t being too dented by the fees charged by the exchange.

Trading options

If you’re looking to trade Ethereum rather than just hold the coins for the long term, then you want to ensure your chosen broker offers the trading capabilities you’re after. This could include leveraged trading or the option to short sell ether – complex and risky strategies that we only recommend experienced traders undertake.

Reputation

You want to ensure you’re using a broker that has a strong track record, as this will reassure you that the platform can be trusted. The best way to check this is to look at any online user reviews, and also checking out our in-depth broker reviews on this site.

Quick answers to key questions

Are Ethereum exchanges secure?

In most cases, yes. If you choose an Ethereum exchange that takes security seriously then your money will be safe. Look for features like an audited proof of reserves, Two-Factor Authentication at log in, and a license from a financial regulator if possible.

Even with all those features, we recommend moving your money to a dedicated Ethereum wallet if you plan on holding your coins for a long time. Wallets are more secure because they give you total control over your own money.

Will I be charged a fee to buy and sell Ethereum?

Yes, Ethereum trading platforms charge fees for making transactions. These typically range between 1-2% and are not included in the market price of ETH.

It’s best to compare trading fees between exchanges to ensure you get the most competitive fees.

If you trade CFDs through an Ethereum broker, you may have to pay additional fees, such as overnight fees, as well. These are only applied when you keep a position open overnight, as the name suggests. Check the small print to find out how this fee is calculated, as it varies between platforms.

Can I use an Ethereum exchange on my mobile phone?

Yes, you can. Many exchanges have Ethereum apps available for both iOS and Android. The apps are available for download on the Google Play Store or the App Store.

What payment methods can I use on an ETH exchange?

This depends on the exchange. Almost all Ethereum exchanges let you deposit via a bank transfer or card payment. Many also let you deposit crypto from your personal wallet.

Some accept deposits from electronic wallets like PayPal but this is more rare. If you intend to use PayPal or another online payment provider, it’s best to check the exchange accepts it before signing up.

Will I be charged for deposits and withdrawals?

Typically, no. When transferring coins to another wallet or exchange, you will only be charged transaction fees associated with the Ethereum blockchain (known as the ‘gas’ fees). Gas fees are now significantly lower than they once were, after the ‘Ethereum Merge’ in 2022 switched Ethereum to a cheaper, proof-of-stake blockchain.

Nowadays the transaction fee is often negligible, and will usually be less than £1 worth of Ether. However, some exchanges are known for having a small withdrawal fee, such as Binance, which charges a 0.01 Ether withdrawal fee.

Do I need a wallet to use an Ethereum exchange?

No, but it can sometimes be useful to have one. You can usually store your coins in your account and this practice is largely safe nowadays. 

However, if you intend to hold a lot of Ether for the long term, then getting a secure wallet to hold your coins can be a good idea. Two popular hardware wallets are the Trezor One and Ledger Nano S.

How do exchanges determine the price of Ethereum?

Exchanges are a marketplace in which people agree to trade ether at certain prices. Like any other asset, the price fluctuates as people are willing to part with more or less fiat currency in exchange for Ethereum. No single person or company decides the price.

Do I have to verify my identity when I create an account?

Yes, you will need to provide ID before you can start trading through an Ethereum broker or an exchange. The exact requirements differ from broker to broker, but often include a form of photo identification. This is so that the platforms can be compliant with KYC (Know Your Customer) and AML (Anti Money Laundering) legislation.

Can I buy multiple cryptocurrencies?

Yes, your Ethereum broker will often support the trading of other cryptocurrencies as well as ETH. Exactly how many other cryptos will depend on the broker you choose, with some offering a handful, whereas others support thousands of different coins.

Should I use an Ethereum exchange?

Exchanges are the most common way to trade Ether and other cryptocurrencies. Over the past few years they have become a lot easier to use than they once were, and the top Ethereum exchanges offer a huge range of ways to trade ETH.

The big advantage of exchange platforms is that they allow you to take physical control of your cryptocurrency. You can buy Ethereum on an exchange and then transfer it to your personal wallet to keep it safe. Or you can use an exchange to trade futures and options, or swap ETH for another cryptocurrency.

Here are a few more pros and cons to help you decide.

FAQs