How To Buy Ethereum In the UK

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Updated: 17.10.2019

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 very clear. The functionalities and useful features of Ethereum exceed Bitcoin.

How to buy Ethereum

Its network of smart contracts allows virtually any application to be built and, it has been very well received by the investment community, with more people looking for how to buy Ethereum in 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 a 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.

If you are interested in investing in cryptocurrencies, but worried about the risk, it is best to start with coins such as Ethereum, Bitcoin, Ripple or Litecoin, whose projects have already capitalized an important amount of money and have functional and stable products. The experts have said that it is a good time 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.

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Why is Ethereum successful?

Another factor that contributes 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 do so. 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 (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

Ways to get Ethereum

Coinbase

Coinbase is the simplest answer to the question of how to buy Ethereum in UK, despite having been founded in the United States. 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, as well as investors of great weight and with a well-earned reputation for this company. This last 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.
You just need to:

  • Register in Coinbase and verify your account with the email that said platform will send you.
  • 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.
  • Go to the main panel (a panel or horizontal menu) and select the option ‘Buy/Sell'; to buy, search for ‘Ethereum' and select.
  • Place the amount you wish to buy, either in Ethereum or in any of its smaller units; Coinbase, automatically, will throw the value to pay according to the characteristics of your purchase. There conversions are made so you know how much you will pay in your local currency.
  • 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.
  • Then, to verify that you have made the purchase, go to ‘accounts', in the same horizontal menu, and a list with purses for each cryptocurrency will appear; in the Ethereum wallet, your balance should appear in that currency.

CryptoGo

Most cryptocurrencies can be commercialized in CryptoGo, which is an exchange that allows you to buy your favorite virtual currency and send it to your personal purse. It is a very safe and reliable exchange platform for the protection of your investment, with regulation in the United Kingdom. We will briefly follow the process below.

  • Open an Ethereum wallet:
    Before investing in Ethereum using Cryptogo, you will have to open a digital wallet to store your ethers.
  • Open an 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.
  • 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 document, proof of residence and 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

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 consistent 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 personal 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 complement.

Buy Ethereum using its BTC in Binance

We will use Binance's basic trading platform to illustrate the procedure in this guide. In the main menu, select «Exchange» -> «Basic». 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».

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 have the expectation that the price will fall in the next hours or days, you can place a limited order, which is only executed if the price reaches its configuration.

You can see your available ETH by clicking on «Funds» -> «Balances» (once your order is fully executed). 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). For this example we have placed 0.5 ETH, equivalent to 0.065 BTC. Finally, click on «Buy ETH»:

One of the main advantages of this exchange is that they also operate with their own cryptocurrency. If you choose to use it, you can follow the instructions available at 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 need to mine the cryptocurrency and obtain the expected benefits. Mining can be done in 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.
  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.

Conclusion

Ethereum has managed to increase more than 250,000%. Its technology and acceptance in the investment community has made Ether a very strong cryptocurrency. Now, ETH is at unique levels to reinvest, not only in the UK but all around the globe. If you have already begun to operate and invest in the cryptocurrency market, you will not want to miss the opportunity to invest and win with the Ethereum project, which is one of the most interesting in this field.

Since 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 the attention of investors and traders due to the accelerated growth it has had during the last year.

Ethereum is an excellent investment opportunity when buying this cryptocoin, which has an important growth and has shown that its growth is just beginning.