new-recommended-broker-banner new-recommended-broker-banner

How To Buy Ethereum (ETH) In the UK

Updated: 15 Jun 2021

Ethereum is a blockchain-based product, whose underlying coin that powers the network is called Ether. Ethereum, or its coin Ether, has become of the most popular currencies. Ether’s is the second largest alt coin by market cap that currently stands at $19.9bn, only second to Bitcoin. Among its uses Ethereum is famous for encoding, decentralizing, protecting, and trading virtually anything: votes, financial exchanges, company management, as well as most types of agreements and intellectual property.

The easy ways to buy Ethereum (Ether) would be through one of the popular Bitcoin exchange sites that Ethereum also supplies.

  • Why should you buy Ethereum?
  • Why Is Ethereum Successful?
  • Ethereum Wallets
  • Ways to get Ethereum
  • Additional Ways to Get Ethereum

Why Should You Buy Ethereum?

Ethereum has been one of the best cryptocurrency investments so far, and its consolidation as the second most important digital currency in the market has been apparent. The functionalities and useful features of Ethereum exceed Bitcoin.

How to buy Ethereum

Its smart contracts network allows any application to be built virtually. The investment community has been very well received, with more people looking to buy Ethereum in the UK every day.

Hundreds of cryptocurrencies are being developed through Ethereum's network, and this gives it solidity. But it's not just about the price. The capital accumulated by this project through ETH has exceeded 85 billion dollars. Ethereum has acquired remarkable importance in the world of cryptocurrencies.

This important market capitalization means that investing in Ethereum is synonymous with stability and trust, despite being aware that we are entering into a volatile instrument.

Suppose you are interested in investing in cryptocurrencies but worried about the risk. In that case, it is best to start with Ethereum, Bitcoin, Ripple, or Litecoin, whose projects have already capitalized a significant amount of money and have functional and stable products.

The experts have said that it is good to invest in Ethereum and buy cryptocurrencies because they will surely be revalued over time. But, of course, the initiative may fail; it is not without risks. What is clear is that it is a phenomenon that we have to follow and will change the way companies operate.

Why is Ethereum Successful?

Another factor contributing to this trend is that ETH (ether) is listed in almost all brokers and exchange platforms that operate with cryptocurrencies. The cryptocurrencies have significantly democratized the world of investments since they are easy to acquire, and it is not necessary to have a large capital to own them.

How quickly the Ethereum platform has succeeded at fitting into the exchanges and brokers is a good sign of the places this project is going. Ethereum is listed in the UK's largest exchange (Coinbase) and is not hard at all to acquire through the use of Bitcoin or other currencies via the many forms of payment.

Ethereum (ETH) Price and Market Capitalisation

Ethereum (ETH) ranks second in coinmarketcap, after Bitcoin due to its market capitalisation that amounts to $42,847,331,412. The price of ETH, at the time of writing, is $379.15. ETH’s price achieved its all-time high in January 2018, at $1,432.88 and all-time low at $0.42 in October 2015.

1 ETH = 0.033 Bitcoin

Ethereum (Ether) Wallets

Before looking into the ways we can get Ethereum, it’s necessary to see which wallets are best for storing it (Ether).

  • Hardware wallets such as TREZOR and Ledger Nano S
  • Mobile wallets such as Enjin and Coinomi
  • Desktop wallets such as Ethereum Wallet and Exodus
  • Web wallets such as MyEtherWallet
  • Web browser extensions such as MetaMask

Buy Ethereum with Coinbase

Coinbase is the most straightforward answer on how to buy Ethereum in the UK, despite being founded in the United States.

buy ETH Coinbase UK

This platform is the pioneer worldwide in terms of transactions with cryptocurrencies and enjoys the support of millions of users and some renowned banking entities and investors of great weight and a well-earned reputation.

This platform will incorporate million-dollar institutional investments starting this year, so we can expect this currency to begin receiving large sums of money. This is another important argument for investing in Ethereum earlier this year.

There are many places to buy and sell Ethereum, but that does not mean that you should choose any, neither on the assumption that they offer you very low commissions per transaction or that they assure you the instantaneous realization of operations; you can fall into the hands of scammers.

How to buy Ethereum on Coinbase

  1. Register in Coinbase and verify your account with the email that said the platform would send you.
  2. Add all the information requested: telephone number, bank account, and credit card and/or debit card information, depending on the payment instrument you wish to use.
  3. Go to the main panel (a panel or horizontal menu) and select the option ‘Buy/Sell'; to buy, search for ‘Ethereum' and select.
  4. Place the amount you wish to buy, either in Ethereum or in any of its smaller units; Coinbase will automatically throw the value to pay according to your purchase characteristics. Their conversions are made, so you know how much you will pay in your local currency.
  5. Wait for the Coinbase platform to verify the transaction, which is instant if you pay with a credit or debit card. In the case of bank accounts, this process can last up to 5 business days. But be patient.
  6. Then, to verify that you have made the purchase, go to ‘accounts’ in the same horizontal menu. A list with purses for each cryptocurrency will appear; in the Ethereum wallet, your balance should appear in that currency.

Buy Ethereum with CryptoGo

Most cryptocurrencies can be commercialized in CryptoGo, an exchange that allows you to buy your favorite virtual currency and send it to your purse.

It is a very safe and reliable exchange platform for protecting your investment, regulating the United Kingdom. We will briefly follow the process below.

How to buy Ethereum on CryptoGo

  1. Open an Ethereum wallet:
    Before investing in Ethereum using CryptoGo, you will have to open a digital wallet to store your ethers.
  2. Open order in CryptoGo:
    Visit the page to buy Ethereum directly. From there, fill out the simple form with your email, name, and phone number. Click on “Buy Now” to start.
  3. Make your order in CryptoGo:
    Use your personal information to make the request. Choose the amount to invest (CryptoGo minimum € 500). Then, choose a means of payment and fill in the billing information. To confirm, verify the data and press «Confirm Order.» After confirming, the CryptoGo team will contact you to ask for identity documents, proof of residence, and the Bitcoin address where you will receive your funds. Ready! Once you complete the payment and send these documents, you will receive the funds in your wallet.

Ways to get Ethereum

Buy Ethereum with Binance

To follow this procedure, you have to buy Bitcoin first. You can follow our instructions to obtain Bitcoins here. Binance is another one of the compatible options to buy Ethereum, but it does not allow doing it directly.

The first step is to create an account by logging into your website and clicking on “Register.” Then fill out the form with your personal information to create an account.

This procedure assumes that you have purchased Bitcoins before. To do this, you can use the Coinbase, Changelly, or CEX.io platforms.

Then it will be necessary to send these funds to your Bitcoin address assigned in your Binance wallets. This address is generated automatically and can be consulted in the following way:

Place the cursor on «Funds» and select «Withdrawal of deposits.» Look for the BTC cryptocurrency in the list and click on “Deposits.” There you will obtain your Bitcoin address to which you can transfer the previously obtained funds.

Send the funds to the Binance Bitcoin Wallet using your address.

After sending them, it will take a few minutes to see them in “Available funds.” Remember that the process takes several minutes. To carry out this operation, it is likely that Binance will ask you to activate two-factor authentication.

This provides an additional level of security. To activate it, you must follow the steps indicated on the platform, downloading the Google Authenticator application as a compliment.

How to Buy Ethereum using BTC in Binance

We will use Binance's basic trading platform to illustrate the procedure in this guide.

  1. In the main menu, select «Exchange» -> «Basic.»
  2. Once the basic platform is open, use the search bar on the right side to write Ethereum or ETH. Click on the filtered option: «ETH / BTC.»
  3. Once selected, we can place an order to buy ETH. The simplest is to place a market order, with which we make an instant purchase at the current offer price.If you expect that the price will fall in the next hours or days, you can place a limit order, which is only executed if the price reaches its configuration.
  4. Use the buy/sell panel at the bottom and select «Limit.» Specify the ETH number you wish to purchase, confirming the price and the total amount in Bitcoin (you can use the buttons of 25%, 50%, 75%, or 100% to buy such percentage of your balance in BTC).You can see your available ETH by clicking on «Funds» -> «Balances» (once your order is fully executed).
  5. For this example, we have placed 0.5 ETH, equivalent to 0.065 BTC.
  6. Finally, click on «Buy ETH»:

One of the main advantages of this exchange is that they also operate with their cryptocurrency. If you choose to use it, you can follow the instructions available on their website. It’s advantageous in that you can get a fee reduction whenever you use their coins.

Other Ways to Get Ethereum

1. Mining

The right computational resources are needed to mine the cryptocurrency and obtain the expected benefits. Mining can be done in a few simple steps. You will contribute to the basic procedures of the Ethereum network, confirming transactions, and performing other basic tasks.

Do not worry! You just have to install software that will perform these procedures. What you will be doing is recording new transactions into the blockchain. Traditionally, this was done with specialised equipment and computers. However, in Ethereum, this is done through what is known as “staking.” Essentially, it is defined as “ageing” coins. Most Ethereum wallets have the option to “lock” your coins. And, as those coins ceased to be used, they start “mining” and generating newer coins from them. The longer you keep your coins “frozen,” the more you will end up generating. The issue with mining Ethereum is that you will need to leave your coins unused, and, as such, your money will be unusable as well. Additionally, the Proof of Stake concept is still relatively young and misunderstood. Nevertheless, if you get it, it can be a very comfortable and less expensive method.

2. Trading of Other Cryptocurrencies

An investor can get Ethereum in by exchanging it for Bitcoin, for example.

You can also trade another cryptocurrency for ETH, such as Litecoin (LTC), Ripple (XRP), Bitcoin Cash (BCH), and many more.

3. Accept in Exchange for Services and Goods:

Any investor can accept ETH once he or she provides their cryptocurrency wallet address, through which a third party can transfer ETH.

If you have an e-commerce store, few payment gateways enable you to accept crypto as payment, such as Coinbase Commerce and BitPay.

Conclusion

Ethereum has managed to increase more than 250,000%. Its technology and acceptance in the investment community have made Ether a very strong cryptocurrency.

Now, ETH is at unique levels to reinvest, not only in the UK but worldwide. Suppose you have already begun to operate and invest in the cryptocurrency market. In that case, you will not want to miss the opportunity to invest and win with the Ethereum project, one of the most interesting in this field.

This platform allows the creation of intelligent contracts and decentralized applications without the possibility of inactivity, censorship, fraud, or interference from third parties. It has attracted investors and traders’ attention due to the accelerated growth it has had during the last year.

Ethereum is an excellent investment opportunity when buying this crypto coin, which has significant growth and has shown that its development is just beginning.

PEOPLE WHO READ THIS ALSO VIEWED:

FAQ

Yes, Ethereum is one of the biggest cryptocurrencies, and if you believe in its principles and the technology behind the blockchain, you should acquire some ETH.

Based on the mining hardware inputs provided, 0.02577214 Ethereum can be mined per day with an Ethereum mining hash rate of 500.00 MH/s, a block reward of 2 ETH an Ethereum difficulty of 3,352,456,909,281,082.00.

The cost of Ethereum mining is $29 per MH/s, reduced from the past rate of $44 per MH/s.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage . 75 % of retail investor accounts lose money when trading CFDs with this provider . You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money .