Most people try to mine Ethereum but then get frustrated with the high up-front costs.
People want Ethereum, so the easiest way to get Ether ends up being by simply just buying Ethereum tokens or Ethereum Classic.
This post will show you how to buy Ether with any of the following payment methods.
Note: Before you buy Ethereum make sure you have a secure place to store your Ether! An Ethereum hardware wallet is the most secure option although not free.
There are many ways to buy Ether with a CC and this section will discuss the 3 best options. Note that the fees will be around 3.5% for most options.
In the USA, Europe, Canada, UK, and Singapore, Coinbase is the easiest way to buy Ethereum with a credit card.
The fees will amount to 3.75% and you can buy instantly.
Note that Coinbase only sells Ether and not Ethereum Classic. To buy Ethereum Classic you need to buy bitcoins on Coinbase and transfer the bitcoins to Kucoin or Binance to exchange them for Ethereum Classic.
CoinMama is a nice option because you can buy less than $125 worth of Ethereum without the need to verify your identity. You can instantly sign up and buy Ethereum. You can have Ether in your wallet within about 20 minutes.
The downside to CoinMama is the fees are pretty high and come out to around 7%.
CoinMama supports credit and debit cards from basically any country.
Note that CoinMama only sells Ether and not Ethereum Classic. To buy Ethereum Classic you need to buy bitcoins or Ethereum on CoinMama and transfer the bitcoins to Kucoin or Binance to exchange them for Ethereum Classic.
Bitpanda is a Bitcoin broker based in Austria and now sells Ether as well as bitcoins.
BitPanda has some good and low fees for buying ETH with a credit card.
Using Coinbase you can buy Ethereum with your bank account if you live in the following countries:
The fees will be about 1.49% per purchase.
For US users, the buy will take about 7 days because the ACH banking system is very slow.
Canadians can buy very fast in 1-2 days, and the same goes for UK and Europe if you use SEPA transfer to deposit to your account.
Kraken is based in Europe and is one of the largest ETH/EUR trading markets. Kraken is a good option if you live in Europe and want to buy a large amount of Ether tokens.
You can also purchase Ethereum Classic on Kraken.
Gemini is a New York based crypto-exchange. You can buy Ethereum in the USA using ACH deposit.
It also serves Canada, some European countries, Hong Kong, Japan, and Korea.
CEX.io is based in the UK and is one of the oldest crypto exchanges online. You can buy Ether with SEPA in Europe or with ACH from inside the United States of America.
Before we move onto other options:
Never store your ETH or ETC on an exchange!
You can buy Ethereum or Ethereum Classic with Bitcoin at nearly any crpytocurrency exchange. This is because most of the global Ethereum trading volume is actually done in the ETH/BTC pair, and not the ETH/USD pair.
Binance is the world’s largest cryptocurrency exchange. You can easily deposit BTC and exchange it for Ethereum or ETC.
Kucoin is a rather new exchange but allows you to easily swap BTC for ETH or ETC.
For US customers, GDAX has some of the highest volume and is a convenient way to turn your BTC into ETH, especially if you already used GDAX or Coinbase to initially buy Bitcoin. If so, you won’t even need to create a new account but can just immediately start trading your bitcoins into ETH.
Unfortunately, there is no easy way to buy Ether with PayPal.
Whereas many Bitcoin buyers use the coins to send money internationally, most Ethereum buyers appear to be buying ONLY for speculative purposes.
So we’re still yet to see something that allows people to easily buy Ethereum with cash.
Like the methods above, you will first have to buy bitcoins with cash. Once you’ve purchased bitcoins there you can use an exchange like Changelly, Kucoin or Binance to exchange your bitcoins for Ether.
This section will answer the most common questions about buying Ethereum.
Like any market, it’s impossible to know the right time to buy.
One strategy you can use is dollar cost averaging. This means you split your buys over a period of time to even out in case the price rises or falls substantially.
You may also want to use charts to track the market, so you can see if the price seems too high or too low.
Ethereum is a new type of asset and even more volatile than Bitcoin.
You should do as much research as possible, compare Ethereum to other crypto assets, and if after that you feel you understand it perhaps it is time to decide if you buy.
The reason buying Ether can be slow is because the traditional banking system is very slow. Credit card and bank payments are all very slow and most exchanges must wait for these payments to clear before you can get your Ether.
Of course, you can use most of the exchanges mention above to sell Ether.
Yes, Ether is divisible to many decimal places so you don’t have to buy an entire Ether.
Anyone is free to use Ethereum. If you can find an exchange in your country, there is no reason you should not be able to buy.
It depends what your goals are. Mining Ethereum has more up front costs, while buying is the fastest way to acquire some/
It depends what your goals are. For low fees, try a bank transfer. For privacy, you will have to buy bitcoins privately and then buy Ether on an exchange. For speed, try credit card.
If you plan on storing your Ether long term, move your coins immediately to a secure Ether hardware wallet.
For small amounts you can use any online wallet although they are less secure.
This is somewhat confusing, but a while ago the Ethereum blockchain split into two: Ethereum and Ethereum Classic.
Ethereum Classic is the smaller chain and has a market cap of about $200 million.
If people ever use Ethereum for use-cases where they need cash, it probably will get easier to buy with cash.
That, however, does not seem likely. Whereas Bitcoin is more of a currency, Ethereum is more of a platform for smart contracts and doesn’t even appear to be in direct competition for most of what Bitcoin is being used for. Also, Ethereum is inflationary whereas Bitcoin is deflationary, so Bitcoin’s fixed supply makes it a much more attractive option for investors who believe in deflationary currency.
It depends on how you are buying with cash.
If you have a Bitcoin ATM in your area, then the process can be very fast since once you arrive to a Bitcoin ATM your purchase is basically instant. Note that ATMs have very high fees at around 5-10%, although purchasing Ethereum with that Bitcoin can be very cheap. Also note that if you buy from an ATM you are buying in a very private way, if you care about that.
If you buy with cash using something like LocalBitcoins or Bitquick, the speed can depend on the availability of sellers in your area. Using these two sites you can buy with cash deposit in the USA and most of Europe. The fees are usually about 1%, so much lower than ATMs although sometimes less private since some buyers on LocalBitcoins may require ID, and BitQuick also requires ID verification from the start.
Bitcoin ATMs do not support Ethereum at this time. This is, again, likely because there is no real demand right now to use Ethereum in cross border payments or remittances, or for online shopping like so many people use Bitcoin for.
The main benefit is privacy. If you don’t care about that, then try to buy Ethereum using your bank account or credit card, where you can buy larger amounts, buy faster, and also pay less in fees than buying bitcoins with at an ATM and trading that in for Ether.
The easiest way to buy Ethereum Classic is to first buy Ether or Bitcoin and then trade that for Ethereum Classic on Poloniex.