Where & How to Buy Ethereum (ETH) for Beginners in 2024

Use our step-by-step guide to learn how and where to buy Ethereum on 5+ highly rated crypto platforms.
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Updated: Jun 12, 2024
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Ethereum coins are available buy via a cryptocurrency exchange, which functions similar to a stock trading platform. It takes just a few minutes to buy Ethereum this way. Follow our quick step guide below.

How to buy Ethereum quickly in 3 steps

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To buy Ethereum 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 eToro 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.

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1
Min. Deposit
$ 100
Best offer
User Score
9.9
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
Start Trading
Payment Methods:
Bank Transfer, Debit Card, PayPal, Credit Card, Wire Transfer
Full Regulations:
CySEC, FCA

Cryptocurrency is offered by eToro USA LLC (“the MSB”) (NMLS: 1769299) and is not FDIC or SIPC insured. Investing involves risk, and content is provided for educational purposes only, does not imply a recommendation, and is not a guarantee of future performance. Invezz.com is not an affiliate and may be compensated if you access certain products or services offered by the MSB.

2
Min. Deposit
$ 100
Best offer
User Score
9.9
CFDs on BTC, ETH, LTC, NEO, XRP, IOTA, EOS, BAB, ADA, TRX, XMR
No need to open a crypto exchange account or use a special wallet
Regulated Broker – FCA, ASIC, CySEC (license number 250/14)
Start Trading
Payment Methods:
Bank Transfer, Debit Card, PayPal, Credit Card, Visa, Mastercard, American Express, Trustly, Apple Pay, Google Pay, Discover, Bank Transfer: SEPA, Bank Transfer: FPS, skrill
Full Regulations:
ASIC, FCA, FSA, MAS, CySEC #250/14

CFD service. 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
Min. Deposit
$ 10
Best offer
User Score
9.4
Offers an intuitive and easy-to-navigate platform, making it accessible for both novice and experienced traders
Global audience, providing various deposit options and allowing users to cash out directly to their bank accounts
Cold storage for funds and two-factor authentication to ensure the safety of users’ assets
Start Trading
Payment Methods:
Bank Transfer, Debit Card, Credit Card, Cryptocurrencies, Apple Pay, Google Pay, Bank Transfer: SEPA
Full Regulations:
Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong

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 Ethereum token

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

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

Where to buy ETH easily

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The overall best platform to buy Ethereum for beginners is eToro .

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

  1. eToro: Best for beginners, copy-trading & demo-account
  2. Plus500: Best for international CFD trading*
  3. Bitstamp: Best for professionals & trading with APIs
  4. Uphold: Best for building long term wealth
  5. Public: Best for sharing beginner trading ideas

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

Best exchanges to buy Ethereum (ETH), reviewed

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

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1%

Fees

$100

Minimum deposit

4,000

No. assets

Yes

Demo/virtual account

Pros & Cons

Great for beginners, simple to set up and get started Competitive, industry-leading commissions Popular ‘Copy Portfolios’ function lets you follow top traders Excellent customer service, with live chat support provided
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.

Highlights

Visit eToro eToro Review

Cryptocurrency is offered by eToro USA LLC (“the MSB”) (NMLS: 1769299) and is not FDIC or SIPC insured. Investing involves risk, and content is provided for educational purposes only, does not imply a recommendation, and is not a guarantee of future performance. Invezz.com is not an affiliate and may be compensated if you access certain products or services offered by the MSB.

2. Plus500. Best for international CFD trading*

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From 2%

Fees

$100

Minimum deposit

3,000

No. assets

Yes

Demo/virtual account

Pros & Cons

Free demo account for every user Secure broker, licensed by top-tier regulators 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.

Highlights

Visit Plus500 Plus500 Review

CFD service. 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. Bitstamp. Best for professionals & trading with APIs

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Fees

Minimum deposit

No. assets

No

Demo/virtual account

Pros & Cons

Low trading fees and no spreads Supports multiple fiat currencies Regulated platform
Limited number of coins available Major fees on deposits and withdrawals Liquidity has suffered due to the limited selection of coins and most liquidity is concentrated in top names like Bitcoin and Ether

Overview

We love Bitstamp because it has a proud reputation for top performance over more than decade. Bitstamp offers trading on 75+ cryptocurrencies, including Bitcoin, Ethereum, and Litecoin, while staking is available on Ethereum and Algorand. 

Bitstamp was one of the first crypto platforms to set up shop in 2011 and has built up trust since. It’s designed with institutional traders in mind, so it prides itself on near 100% uptime. It stores 95% of assets in cold storage and offers a sliding scale of fees so that high volume traders get the best rates.

The fees: There are no trading fees if you trade less than $1,000 in a rolling 30-day period. Above that, fees start from 0.4% and decline the higher your trading volume is. There is a 15% charge for staking. Withdrawals are charged a flat €3 fee.

Highlights

Visit Bitstamp Bitstamp Review

4. Uphold. Best for building long term wealth

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$0.99

Fees

Minimum deposit

300

No. assets

Yes

Demo/virtual account

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.

Highlights

Visit Review

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

5. Public. Best for sharing beginner trading ideas

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public.com logo

Fees

Minimum deposit

No. assets

No

Demo/virtual account

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. 

Highlights

Visit Review
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.

How to trade ETH

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

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

In this example, you buy and sell Ethereum, 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 Ethereum (ETH)?

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The simplest way to buy Ethereum 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 ETH.

  • Buy Ethereum 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 Ethereum 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 Ethereum (ETH)?

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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 Ethereum 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 Ethereum wallets to use are MetaMask and the Ledger Nano S.

Is now a good time to buy Ethereum?

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The answer depends on the current price and your own investment goals. Put simply, buying Ethereum, selling Ethereum, and trading ETH 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 Ethereum.
  • 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 ETH, then a good time to purchase Ethereum 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 Ethereum and selling it the next day probably isn’t why you’re here either.

How has Ethereum (ETH) performed this year?

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The current Ethereum price today is $3,771.91, which is -22.89% versus its all time high of $4,891.70, which it reached on 16 November 2021. ETH is +98.33% this year, with a 52 week high of $4,092.28 and a 52 week low of $1,523.24. 

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

Is Ethereum (ETH) a good investment?

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Whether it’s good for you depends on your goals and the fundamentals of the project. Here are some key features of Ethereum and its token to help you decide whether to invest in ETH.

  • Ethereum is the second most popular cryptocurrency. Etherem was created in 2015 following the success of Bitcoin. It now ranks in second place and is one of the most traded coins available. 
  • Following the ‘merge’, ETH is now more energy efficient. From its inception, Ethereum was running as a proof-of-work blockchain, which required a large amount of energy to operate. Since 2022, it swapped to a proof-of-stake consensus mechanism, which is 99.9% more energy efficient. 
  • Ethereum is scaleable. Ethereum has a solid track record of being capable of handing high volumes of transactions and it is continuously working to improve scalability through various measures including Ethereum 2.0 and Plasma. 
  • A wide range of applications can run on Ethereum. Ethereum’s long-term investment prospects look promising. Along with its role at the heart of decentralised finance, the Ethereum network is also the home to a wide range of other crypto applications, such as NFT marketplaces, crypto wallets, and other Web3 apps. 
  • Ethereum is a dominant name in the crypto space. While there are other competitors, like Solana, that present an alternative vision for the future, Ethereum is a dominant name in the crypto space. So far it has successfully innovated to keep itself ahead of the chasing pack. 
  • ETH’s price moves similarly to Bitcoin. Ethereum closely follows the price movements of Bitcoin. While not exactly in tandem, Bitcoin generally leads the way. Investing in Etherum is considered a cheaper option than investing in Bitcoin, which is much more expensive. 
  • Some cryptocurrencies are dubbed Ethereum ‘killers’. There are a selection of cryptos known as Ethereum ‘Killers’. These rival blokcchains aim to solve some of Ethereum’s flaws and if any succsseed, they could ‘kill’ Etherem. 

In addition to these features, there are many more reasons why Ethereum is unique and might be worthy of your interest. To learn more about Ethereum and how it works, visit our beginner’s guide to Ethereum.

FAQs

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Sources & references
Risk disclaimer
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.
Prash Raval
Financial Writer
Prash is a financial writer for Invezz covering FX, the stock market and investing. For over a decade he has traded spot FX full time while... read more.