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Compare the best Ethereum platforms, exchanges & apps in 2023

Q: Are Ethereum exchanges regulated?

It depends on the type of platform and where you’re based. Generally, most Ethereum exchanges are licensed to operate in the UK and Europe, but for US users the picture is more murky. Ethereum brokers, on the other hand, are normally regulated to provide financial trading but access to them may also be limited depending on where you live. Crypto CFDs are banned in the UK, for example.

Q: Are there any Ethereum exchanges I can use anonymously?

Not usually. Most exchanges require you to verify your identity when you register for an account. However, platforms such as LocalBitcoins work through peer-to-peer transactions, which means that users have the option of remaining anonymous.

Q: Are there maximum or minimum deposit/withdrawal limits on an Ethereum exchange?

This will depend on a variety of factors, such as the platform you use, your account age, method of payment used, verification level, and transaction history. For example, on Binance, you will enjoy higher deposit or withdrawal limits if your account has been verified.

Q: Are there maximum or minimum buying limits?

This will depend on various factors. If a platform has a minimum limit it’s likely to be very low, usually £1 – £10 worth of ether. You can commonly expect the top limit to be much lower if using a card (around £500 worth of ether). If you top up your account with a bank transfer and use those funds, the limit will be much higher (usually £10,000s worth of ether). If you are using cryptocurrencies to transact, there will usually be no limits.

Q: How fast are transactions on an Ethereum exchange?

Transactions on an Ethereum exchange are usually instant. It also depends on the type of order you have made. However, once an order is executed, funds will usually travel within a matter of seconds.

Q: What if I accidentally send my coins to the wrong wallet address?

If you send your Ether to the wrong wallet address, there’s no way to recover them. Cryptocurrency transactions are irreversible, so be very sure you’re entering the correct wallet address when moving Ether.

Q: What happens if an ETH exchange gets hacked or shut down?

This is a risk with exchanges, as they’re a very attractive prospect for hackers. One of the most famous incidents was the closure of the Mt Gox exchange in 2014, where millions of pounds worth of cryptocurrency was stolen. This risk is why it’s recommended that you keep your funds in a personal storage wallet if they’re not actively being used for trades.

Q: Can I cancel a trade on an Ethereum exchange?

If the trade hasn’t been executed yet, you can cancel it. This could be the case when you make a limit order. Otherwise, Ehtereum transacitons cannot be reversed once they have been made.

Q: What is the difference between an Ethereum wallet and an Ethereum exchange?

An Ethereum wallet is an address/piece of software that stores your ETH. An exchange is a platform that allows you to obtain coins.

Q: Do Ethereum debit cards have built-in exchanges?

Yes. There are Ethereum debit card providers like Wirex which offer users the ability to exchange between crypto and fiat currencies within their accounts. These are not common but they are becoming more popular.

We have reviewed 48+ of the best Ethereum exchanges and ranked them to find the top performing crypto exchange. Read on to compare the results.

By: &

Updated: May 31, 2023

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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

eToro: Best for beginners, copy-trading & demo-account
Plus500: Best for international CFD trading*
Public: Best for sharing beginner trading ideas
Uphold: Best for building long term wealth
Coinbase: Best secure trading platform for all types of trader

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.

Top 5 Ethereum exchanges, reviewed

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

Visit site

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. Plus500. Best for international CFD trading*

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2800

No. assets

$100

Minimum deposit

Crypto

Platform type

Pros & Cons

Can get a free demo account A great mobile platform Well regulated in multiple jurisdictions Wide variety of CFDs to trade Several good risk management tools

No support on trading information and education Website isn’t brilliantly designed to help users find answers to their questions No MetaTrader trading platform compatibility

Overview

We love Plus500 because it is one of the industry’s most transparent and reliable brokers. Its fees are clear and you’ll know exactly what you will be paying before you make a trade. Its technology driven platform gives access to over 2800 instruments, including CFDs on stocks, forex, commodities, and cryptocurrencies among several others.

Plus500 has something for all types of traders, no matter what level of experience. It’s zero commission and tight spreads make it a top choice for day traders and its trading academy is packed with educational content, perfect for beginners just starting.

For accurate instrument availability, visit plus500.com.

The fees: There are no commission fees on any trades with Plus500 and it makes it money through the Bid/Ask spread. Spread starts from 0.01% or 0.9 pips and varies depending on the instrument. Additional fees include overnight funding which is dependant on trade size and guaranteed stop orders, which add a minimum of 10% to the spread. There is an inactivity charge of £10 per month for accounts not logged in for three months.

*Based on a comparison of 60+ leading brokers and trading platforms.

Visit Plus500 Plus500 Review

82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

3. 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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4. Uphold. Best for building long term wealth

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...

No. assets

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.

Visit Review

Terms Apply. Cryptoassets are highly volatile. Your capital is at risk.

5. Coinbase. Best secure trading platform for all types of trader

Visit site

No. assets

Minimum deposit

Crypto

Platform type

Pros & Cons

Simple and easy to use interface Able to buy cryptocurrencies instantly with a credit or debit card Offers great security on its wallet Can use a variety of payment methods

Quite high fees for credit and debit card instant buys Poor customer support

Overview

We love Coinbase because it’s the leading public crypto platform. Coinbase offers more than 170 cryptocurrencies to trade, a secure wallet to store your coins in, and automatic staking rewards on 10+ cryptos through Coinbase Earn.

A public company brings transparency and renown, so you can trust that any money on Coinbase is safe and you’re sharing the platform with over 100 million other users. There is insurance on all cash balances up to $250,000 and the majority of assets are stored offline in cold storage.

The fees: Trading fees start from 0.6% but reduce the higher your trading volume. Bank transfer deposits and withdrawals are free, other payment methods may be charged. There is no fee for wallet-to-wallet crypto transactions but you will have to pay blockchain fees. Coinbase charges a 25% fee for its staking services.

Visit Coinbase Coinbase Review

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.

Pros

Enable you to spend Ethereum easily all around the world
Easy to accept Ethereum payments from other people
Can trade many other cryptocurrencies in the same exchange
Ethereum is a great crypto to swap for altcoins and exchanges offer the means to do so

Cons

Risk that the exchange could be mismanaged
Learning curve to know the ins and outs of exchange trading

Choose an exchange & sign up

FAQs

Are Ethereum exchanges regulated?

Are there any Ethereum exchanges I can use anonymously?

Are there maximum or minimum deposit/withdrawal limits on an Ethereum exchange?

Are there maximum or minimum buying limits?

How fast are transactions on an Ethereum exchange?

What if I accidentally send my coins to the wrong wallet address?

What happens if an ETH exchange gets hacked or shut down?

Can I cancel a trade on an Ethereum exchange?

What is the difference between an Ethereum wallet and an Ethereum exchange?

Do Ethereum debit cards have built-in exchanges?

More of the best crypto rankings

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Best cryptocurrency apps 2023

Best cryptocurrency spread betting brokers 2023

Best decentralised exchanges 2023

Best DeFi platforms 2023

Sources & references

Risk disclaimer

Harry Atkins

Financial Writer

James Knight

Editor of Education

James is the Editor of Education for Invezz, where he covers topics from across the financial world, from the stock market, to cryptocurrency, to macroeconomic markets.... read more.