Sunday, June 16, 2024

How to Buy Ethereum in the UK

The cryptocurrency industry exploded this year, and it seems that everyone is now looking to get on board. But, of course, those who have spent some time researching and exploring crypto – studying its prices, strategies, trading and investment opportunities, and more – know that this is a surprisingly layered and complex market given its short lifespan.

Given that Ethereum (ETH) is one of the best-performing assets on the top 10 largest cryptocurrencies list, and that it has a rich ecosystem that offers smart contracts, dApps, DeFi, NFTs, and more, it has drawn a lot of attention in recent years. Ethereum even outperformed Bitcoin at one point during this recent bull run.

But, if you are new to the crypto sector, you may be unaware of these facts – and that’s fine. No one expects you to be an expert on your first day. Learning is a process, and you will learn quickly if you source your information from the right place.

But, how and where can you buy Ethereum? Should you invest in owning the coins or simply trade on the price? CoinJournal will provide you with all the information you could ever need to answer these questions and more, but let’s cover the basics.

How to Buy Ethereum Summary

You can obtain Ethereum (and other cryptocurrencies) in several ways, but the most straightforward approach would be to buy it on an exchange or brokerage platform. There are several out there, each with its unique requirements (like minimum deposit, minimum trade, fees, etc.)

It would help if you also considered reputation, available coins and tokens, and more. And, naturally, you should also prepare a private crypto wallet for when you buy your ETH coins, as keeping them in the exchange’s wallet is not as safe. Besides, if you don’t hold the keys (and you don’t on centralised exchanges) — you can’t consider yourself the sole owner of your coins.

Where to Buy Ethereum in 2021?

As mentioned, there are numerous platforms out there – which means that some are good, some are not so good, and some are pretty bad. The point is, it matters where you go to buy ETH, and you should do thorough research into the company’s background, reputation, limitations, and regulatory status before you join and invest your money.

Always go for the most reputable platforms, as scams are still quite common in the crypto industry. Any deal that sounds too good to be true – probably is, especially if the platform doesn’t tick all the right boxes.

The Best Website to Buy Ethereum: CoinJournal

You can buy Ethereum on most websites that offer cryptocurrency for sale, as it is as widespread these days as Bitcoin itself. Still, some sources provide better recommendations and quality information than others. For example, CoinJournal is a website that offers up-to-date information on Ethereum and other cryptocurrencies, both popular and lesser-known, making it the best place to buy Ethereum.

It also offers breaking news and detailed expert reviews. So you can keep track of the market and buy ETH from a reputable platform at the opportune moment. The siteis user-friendly, easy to navigate, and tailored for novices and experts alike.

Should You Buy or Trade Ethereum?

When transacting cryptocurrencies, you have two options — you can either buy them or trade them. Which is better, you might ask? Well, that depends on you. Neither is inherently better or worse than the other; the only question is whether you are willing to wait or take more immediate risks for quicker returns.

Buying and owning Ethereum means that you will likely hold it for a prolonged period. Sometimes, it’s weeks, months, or even years. This is best suited to those who believe the value of Ethereum will grow in the future. Buying and holding will require you to set up a safe wallet to store your coins and doing thorough research on Ethereum and its potential to prosper over time.

On the other hand, trading is much faster. This approach carries a degree of risk, as crypto prices are very volatile, and they can go up or down without any warning. For the most significant impact, you can use CFDs (Contracts for Difference) to trade crypto with leverage and essentially boost your investment as you attempt to predict which way the price will go.

3 Tips for Buying Ethereum

Buying any cryptocurrency, including Ethereum, is not overly complicated. However, there are some things that you should keep in mind regarding the circumstances of your purchase. So, here are a few tips to remember.

Do your research

Tip number #1 is to do your homework. And yes, we know that this isn’t the most exciting part of trading, but trading itself will often result in failure if you don’t understand what you are doing. Research matters, as you need to know how to set up wallets, what CFDs are, how you can trade them with leverage, the difference between exchanges and brokers, which is better for which situation, and more.

Good reliable information is vital. Being well-informed will help you to understand when to act and when to hold and which strategy suits you the most. Otherwise, you will be stumbling around in the dark. You can learn everything you need about preparing yourself to buy Ethereum on CoinJournal.

Check out the latest news surrounding Ethereum

We cannot overstate the importance of keeping up to date with the industry. In crypto, the price doesn’t go up and down without reason. So, keep an eye on breaking news and you will begin to see the correlations. To be able to predict market movements with any degree of accuracy and capitalise on opportunities, it is important to stay on top of the latest developments, plans, regulatory changes, and more.

CoinJournal offers daily breaking crypto news, reliable exchange and broker reviews, detailed information on specific cryptocurrencies and more, all in one place.

Select the best platform to buy Ethereum

Above, we have stressed the importance of selecting the best news source, so you can imagine how vital it is to choose the right platform to buy your coins. There are hundreds available, both centralised and decentralised, and to pick the best one for you, it helps to get a pointer in the right direction.

CoinJournal will provide you with solid reviews surrounding the biggest and most reputable brokerage and exchange platforms. In addition, the website will allow you to compare fees, unique selling points of trading platforms, usability and even offer expert tips. You can even use this website to go directly to the exchange or broker of your choice. 

What Is the Best Payment Method for Buying Ethereum?

When buying Ethereum, you should also decide which payment method you wish to use. Regardless of which you select, the process of transferring money to and from brokers or exchanges isn’t tricky. But, if you have multiple options, it is advisable to compare them to find the one which suits you best. 

For example, you have:

Credit and debit cards — are typically the fastest options available. However, they are often the most expensive option, so be prepared for somewhat higher fees.

Bank transfers — are another option that comes relatively cheap. However, you might have to wait a few working days for the money to arrive. This is a good option if you want low fees and aren’t in any hurry.

Online banking services — then, there are online banking services like Revolut, which started partnering with crypto exchanges over recent years. They can be expensive but are very fast and reliable, almost as good as credit cards, and maybe even more convenient.

PayPal – is a payment service that is known the world over. It is fast, cheap and easy to use. The downside? PayPal has only just begun to be integrated into broker and exchange platforms and is not yet a widely available option.

Other Ways to Buy Ethereum

Apart from the methods already covered, there are other ways to buy Ethereum. For example, you can use P2P trading platforms instead of standard crypto exchanges. There, you can find another user with a satisfying offer and buy their coins directly from them. You can send them the money in any way you agree on, and then they will release their coins to you.

Another option is to buy Ethereum with another crypto, like Bitcoin, or some stablecoin, like Tether (USDT). You can also buy cryptocurrencies directly for cash on crypto ATMs, earn them as rewards for activities like staking, lending, yield farming, mining, and alike, or even use gift cards.

Whichever method you choose, you can learn more about it through CoinJournal where you will be guided through the process, step by step.

FAQs When Buying Ethereum

Is Ethereum a good investment in 2021?

In the first few months of 2021, Ethereum proved to be a great investment. It reached a new all-time high this year, and even though its price has recently dropped, many experts believe it has the potential to reach incredible heights in the future.

Can I just buy Ethereum?

Essentially yes, but you should do some preparations first, such as setting up a wallet. If you were just to buy ETH without safe storage, you would have to leave it in the exchange’s wallet, from which it could be stolen in the case of a hacking attack. Learn all you can from CoinJournal before jumping straight in with both feet.

What to do once I buy Ethereum?

There are many options for those who have bought ETH. Some choose to hold it in their wallet and wait for the price to increase. Others use it for smart contracts, dApps, or to buy some other cryptocurrency created on the ETH network. You can also use it as a payment method if you find a merchant who accepts it.

Are there fees for buying Ethereum?

Yes, there are a few types of fees. You must always pay a fee when transacting ETH, and that money goes to the miners who are powering the transaction. There may or may not be a fee for purchases, sales, deposits, or withdrawals based on the exchange. If you are depositing or withdrawing cash, there may be fees depending on what payment method you are using. Check out CoinJournal to compare the fees of leading brokers and exchanges.

Is buying Ethereum safe?

Yes. While there are certain risks involved, such as the coin’s price dropping, Ethereum is a legitimate and established project that you can get involved with without the fear of it being a scam.

Sam Allcock
Sam Allcock
Sam heads up Cheshire-based PR Fire, an online platform that has already helped over 10,000 businesses to grab widespread media coverage on their news at an extremely accessible price point.

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