Ethereum (ETH) is the second-largest cryptocurrency by market capitalization and is available on nearly every cryptocurrency platform. However, there is no single optimal location to buy Ethereum for everyone. It all relies on your investing objectives and trading strategy. To find the finest cryptocurrency applications, exchanges, and brokerages, we combed through the leading cryptocurrency apps, exchanges, and brokerages.
The best places to buy Ethereum on The Ascent
Coinbase’s user-friendly platform and readily available materials make it an excellent alternative for beginning traders. It might be more forthcoming about its exorbitant rates. Customers may stake their ETH on the network, tying it up to earn income and help to network security.
Coinbase provides two distinct trading platforms. The regular Coinbase platform is simpler to use, making it ideal for newcomers. Customers may examine real-time order books, utilize charting tools, and save money with Coinbase Pro, the more complex alternative.
If you have a Coinbase account, you may use the same login credentials to access both services. We advocate trading on Coinbase Pro since the costs are substantially lower. Even if you prefer to conduct your research on the normal platform, buying and selling on Coinbase Pro will save you a significant amount of money.
Gemini stands apart for a variety of reasons. The first is its dedication to security and compliance. The second disadvantage is that it only enables a certain amount of free withdrawals each month. Finally, it offers a lend-earn product, allowing investors to earn passive income from their Ethereum holdings.
Gemini provides an easy-to-use desktop trading interface that is sufficient for the majority of bitcoin buyers and sellers. You may set up regular purchases, sell and convert digital money, and do other things.
The Gemini ActiveTrader platform, which is supposed to be a professional-quality trading system, is also available from the firm. It provides the option to place numerous order types, powerful graphing tools, and other features. Furthermore, ActiveTrader is portable, so you may use it from anywhere.
Robinhood popularized zero-commission trading activities and now applied the same philosophy to its crypto offering. It does not currently have external wallet capability, so users cannot deposit or withdraw their crypto assets, but it claims that this will be coming soon, and it is an excellent choice for people who wish to maintain their stocks and crypto investments in one location.
When purchasing Ethereum, what should you look for?
What fees would you have to charge?
In general, there are three sorts of fees to be aware of:
- Fees for deposits
- Trading fees
- Fees for withdrawals
We’ll go through each of these in further depth below. Just keep in mind that costs are rarely consistent between trading platforms. For example, you may come across a cryptocurrency exchange that provides free trading but has a high withdrawal fee.
Don’t be scared to establish a few accounts and play around with them. However, do not deposit any funds unless you are comfortable with the charge structure.
How will the platform keep your assets safe?
Cryptocurrency investing is a thrilling realm, but it has sadly drawn its fair share of dishonest actors. And, because bitcoin is a relatively young business, it has taken some time – and several high-profile attacks – for large cryptocurrency exchanges to incorporate the kinds of security seen in banks and other financial institutions.
If a cryptocurrency exchange or broker is not forthcoming regarding its security systems, this should raise a red signal. It’s common to read that a corporation doesn’t want to reveal certain facts for security concerns, however this is false. A trading platform may expose a lot of information without jeopardizing its systems.
Is there a sign-up incentive available?
Several platforms provide sign-up bonuses to new investors. You may come across a platform that provides a little bonus when you first sign up, or one that offers a bonus after you make a particular number of transactions or deposit a certain amount of money. While these are all appealing, don’t allow them to influence your decision-making. It may be a good tie breaker, but there’s no purpose in joining up for the incorrect exchange simply for the bonus.
Does it exist in my nation or state?
Some cryptocurrency exchanges are not permitted to operate in the United States, and only a few are permitted to operate in every state. New York, for example, has some of the most stringent crypto exchange regulations and will vigorously prosecute rule violators. As a result, it’s a good idea to double-check that the exchange you intend to use is legal where you reside.
Does it provide all of the features you require?
If you’re buying Ethereum for the first time, you’ll want a user-friendly platform with a wealth of instructional resources. Look for an exchange with a decent app if you prefer mobile applications over online browsers.
Additional beneficial features entail:
- The capability of setting up automatic monthly transfers
- Excellent client service
- A portable wallet
We’ll go through wallets in further depth later. If you’re a frequent Ethereum trader, you may additionally desire sophisticated features like limit orders and decent charting tools.
Does it provide a diverse range of cryptocurrencies?
If you merely want to buy Ethereum or Bitcoin (BTC), you won’t need a large exchange. However, if you consider buy Ethereum to be the initial step in a larger crypto-trading trip, a vast list of altcoins is a plus. It’s also important to understand an exchange’s stance on adding new currencies: does it strive to weed out potential frauds, or does it want to offer as many coins as possible?