Best Crypto Platforms to Buy Ethereum - Traders Union

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Best Crypto Platform to Buy Ethereum - Bybit

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Best platforms to buy Ethereum

  1. ByBit - best for active Ethereum (ETH) traders

  2. Huobi Global - best ETHUSDT futures contracts

  3. KuCoin - best platform to stake Ethereum

  4. Binance US - best place to buy ETH in the US

While the entire cryptocurrency world is experiencing unprecedented growth these days, there are a couple of currencies and blockchain networks that stand out at the very top — and Ethereum is definitely one of the biggest hitters. It’s quickly becoming one of the most innovative frontiers for blockchain technology, with exciting applications like smart contracts and NFTs. All of that makes buying Ether a great investment for the future — but how should a beginner approach this process? Don’t worry, we’ve prepared a highly detailed guide on where to buy Ethereum below.

What is Ethereum (ETH)?

Before we get into the details on where you can buy Ethereum, we should answer a more basic question first — what is Ethereum?

It’s a cryptocurrency, which means it’s a currency based on DLT — Distributed Ledger Technology. And before you start feeling overwhelmed, DLT is just a more detailed way to label blockchain.

Ethereum is one of the many distributed ledger networks that exists today, decentralized and unregulated by any authorities. However, while there are many blockchain networks, Ethereum stands next to Bitcoin as the most popular one.

Decentralization is the word of the day here — there’s no “owner” of Ethereum, nor a regulator in the form of a central bank or another governing body. All of the services, applications, and transactions powered by and run on the Ethereum network require just one thing: computing power.

If you’re wondering how computing power is allocated to users, that’s where the cryptocurrency part of the network comes in. Ether is the cryptocurrency of the wider Ethereum network, and although people commonly say they’re buying “Ethereum”, they’re actually buying Ether on the Ethereum network.

And while we’ll get into the advantages and problems with Ether in more detail below, it’s important to note that this cryptocurrency is attractive due to its high liquidity, and the lack of any third-party approval for transactions that would slow things down.

History of Ethereum

So, how did the whole Ethereum network and its cryptocurrency come to be? It all goes back to the mid-2010s, when the co-founders of Ethereum launched a crowdsourcing campaign for their creation. As you might have guessed, the participants of the campaign received Ether in exchange for their funding, making them the first owners of Ether ever. Soon enough, more than $18 million was raised — enough for the first live version of Ethereum to be launched just a year later.

Just like any other blockchain network, Ethereum has had a rocky road to stardom. A malicious hacker group managed to steal $50 million in Ether back in 2016, immediately making the security of its cryptocurrency the most-discussed issue for Ethereum. The debate resulted in the existing Ethereum community splitting into two camps, and two separate blockchains: Ethereum Classic (ETC) and Ethereum (ETH). The latter of the two remains the main branch, and it’s currently undergoing a massive “Ethereum 2.0” update.

The Pros and Cons of Ethereum

One of the main problems with Ethereum is its lack of regulation — while NFTs are proving to be an increasingly lucrative market, it’s also ripe with fraudulent activities. However, this decentralized nature of the Ethereum platform is also its main strength — promising a complete elimination of third parties from human financial transactions.

The DeFi concepts present in Ethereum’s dApps allow for true decentralized finances, making central banks entirely irrelevant and outdated; along with any other third-party regulators that only increase the time and expenses related to each transaction.

In fact, people have already started experimenting with crypto-based loans; again, entirely circumventing the limitations of traditional credit score systems. And considering these are often unjust in how they score people and prevent them from getting loans, this is definitely a welcome democratization of the financial system.

And sure, a lot of this can be said for any cryptocurrency out there — but other features of its blockchain are what truly make Ethereum one of the most promising crypto networks out there. For instance, smart contracts are poised to bring about a revolution in legal matters, eliminating the necessity for adjudication in many situations. These contracts are immutable and programmed to be executed when certain conditions are fulfilled or specific actions are made — without leaving the space for any scamming or reneging on deals.

Best Platforms to Buy Ethereum (ETH) in 2024

There are numerous platforms available in 2023 to buy Ethereum (ETH), catering to different preferences and requirements. In this response, we will be exploring some of the best options to help you make an informed decision.

ByBit - Best Platform for Active Ethereum (ETH) Trading

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Bybit is a crypto exchange specializing in derivative trading, such as futures and perpetual contracts. It provides traders with up to 100x leverage on perpetual contracts, enabling them to optimize their earnings. Bybit boasts some of the most competitive fees in the market, with a 0.06% maker fee and a 0.01% taker fee for non-VIP perpetual and futures traders.

However, fees are subject to change based on the specific trading pair and order type. The exchange employs a maker-taker fee structure, with makers earning a rebate and takers incurring a fee. For instance, BTC/USD futures contracts have a 0.025% maker rebate and a taker fee.

Bybit supports 279 digital currencies and features 358 trading pairs. Users can trade Ethereum (ETH) with leverage of up to 100x. The platform offers futures contracts for ETH/USD, ETH/BTC, and ETH/USDT.

Additionally, Bybit provides Ethereum staking services, enabling users to lock up their ETH and receive rewards such as governance tokens or staking returns. The platform's staking rewards for ETH can reach up to 6% APR. Bybit also hosts staking pools on the Ethereum blockchain, where users can supply liquidity to USDT, USDC, BTC, ETH, and stETH pools to earn incentives. By engaging in Bybit's staking options, users can generate passive income from their ETH assets.

Huobi Global - Best ETHUSDT Futures Contracts

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Huobi Global is a digital currency exchange that provides both spot and futures trading options. Their platform features more than 700 cryptocurrencies for spot trading. When it comes to futures trading, they offer an assortment of contracts, including ETHUSDT futures contracts. However, specific information about these contracts, such as fees and expiration dates, is not easily accessible in search results.

Fees on Huobi Global vary for spot and futures trading. Spot trading fees range between 0.1% and 0.2%, depending on the user's trading volume and whether the platform's native token, HT, is used. Futures trading fees follow a maker-taker model and differ based on the contract being traded.

According to Huobi Global, the estimated annualized return rate for staking ETH 2.0 on their platform ranges from 6% to 20%. Staking earnings will be distributed the day after a snapshot of BETH holdings is taken. The minimum amount needed to begin staking on Huobi Global is 0.1 ETH, and the platform covers all validation costs and assumes the risk of on-chain penalties.

KuCoin - Best Platform to Stake Ethereum

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KuCoin is a centralized digital currency exchange supporting over 650 crypto assets, including Ethereum. The platform provides spot trading, futures trading, and various investment products such as derivatives, margin trading, staking, lending, automated trading bots, and mining pools.

Spot trading fees on KuCoin are determined using the base currency of a trading pair. For instance, fees for KCS/BTC, KCS/ETH, and KCS/USDT pairs are calculated using KCS. The standard spot trading fee for Class A cryptocurrencies is 0.1% for both market makers and takers. For Class B and Class C cryptocurrencies, the standard spot trading fee is 0.16% and 0.24% for both market makers and takers, respectively.

KuCoin features over 1,500 spot markets and supports more than 700 cryptocurrencies, including numerous Ethereum pairs such as ETH/BTC, ETH/USDT, ETH/KCS, and ETH/PAX. Regarding futures trading, KuCoin offers various futures contracts, including BTC, ETH, EOS, XRP, and LTC perpetual contracts.

Trading fees for futures contracts on KuCoin range from 0.02% to 0.04%, while taker fees range from 0.04% to 0.06%. KuCoin also provides staking options for different cryptocurrencies, including Ethereum. The earnings from staking Ethereum on KuCoin depend on the current annual percentage yield (APY) for Ethereum staking, which may be as high as 6.7%.

Binance US - Best Place to Buy ETH in the US

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Binance.US provides an extensive array of cryptocurrencies and boasts some of the lowest trading fees among crypto exchanges. Although it doesn't feature as many cryptocurrencies and crypto-to-crypto trading pairs as its parent company, the platform's selection of over 125 cryptocurrencies remains competitive with many leading exchanges and surpasses numerous other U.S. exchanges.

Currently, it offers more than 150 crypto-to-crypto trading pairs, but trading pairs are restricted to Bitcoin and stablecoins. Binance.US simplifies Ethereum staking by significantly reducing entry barriers. With a remarkably low minimum of just 0.001 ETH to begin, this is a stark contrast to the standard 32 ETH traders need for staking through the ETH network.

Binance.US introduced Ethereum staking with an initial annual percentage yield (APY) rate of 6%. Users can request to unstake coins at any moment, but the coins will be unavailable for trading until the unstaking process is finished. Note that Binance.US does not provide futures contracts.

Binance Staking Guide | All Supported Tokens and Rewards

Should I Try Wire Transfer to Buy Ethereum?

If you want to buy a particularly large amount of Ether or you simply don’t own a credit card — you can definitely consider using wire transfers to buy Ethereum. However, there are some drawbacks to this payment method: while credit card and debit card payments are instantaneous, many banks will demand additional information about the nature of your transaction before processing it. Plus, they may collect additional fees.

So, if you’re buying Ethereum, and we’re not talking about a huge purchase amount, you’re probably better off with a debit or credit card — as long as you’re buying at a trustworthy broker, like the ones we’ve talked about above. Your Ether will arrive quicker, and you won’t have to deal with such a big hassle. Really, the only upside is that wire transfers are available at brokers that are regulated in the United States — so you know they’re legitimate.

How to Store Ethereum

You can always keep your Ether in the exchange account of the broker you’ve registered an account with. However, even with the most secure and well-regulated exchanges — you’d still be far safer keeping the Ethereum and any other crypto assets in your own crypto wallet.

These wallets have private keys, making sure no one can access them except you. Basically, they’re digital storage devices for your Ethereum and other coins. As long as someone doesn’t get ahold of your key, they’re basically hack-proof. And they double as great portfolio trackers, because e-wallets allow you to keep different crypto coins all in one place.

Should You Buy Ethereum in 2024?

The big question is — should you actually buy Ethereum in 2023?

On the one hand, the risks associated with Ether are largely the same as with any other cryptocurrency — the volatility is quite unpredictable, and while many are betting on Ethereum becoming the dominant blockchain network in a couple of years, there’s no real telling if that will happen. Another platform could appear and supplant it, or execute the same solutions and technology in a more efficient way.

Still, if we’re going by the information we have now — Ethereum is definitely one of the biggest pillars of blockchain applications in 2023. And with this technology niche being as financially promising and lucrative as it is now, there’s a good reason to think investing in Ethereum and its smart contracts and NFTs is a better idea than just hoarding Bitcoin.

Best Ways to Invest in Ethereum

Investing in Ethereum can be done through various methods, including:

Cryptocurrency Exchange for Ethereum Spot

A cryptocurrency exchange allows you to buy, sell, and trade Ethereum (ETH) at the current market price (spot trading).

👍 Pros

Direct ownership of ETH, allowing participation in the Ethereum network

Access to a wide variety of crypto assets and trading pairs

Typically lower fees compared to other investment methods

👎 Cons

Requires management of private keys and wallet security

Exchange hacks and security breaches pose a risk to your investment

Crypto CFD Contracts

Crypto contracts for difference (CFD) are derivative products that allow you to speculate on the price of Ethereum without owning the underlying asset.

👍 Pros

Leverage trading allows for potentially higher profits

No need to manage private keys or wallet security

Ability to profit from both rising and falling market prices

👎 Cons

High risk due to the use of leverage, which can lead to large losses

Regulatory restrictions in some countries

Best Crypto CFD Brokers and Trading Platforms

Ethereum Futures

Ethereum futures are financial contracts that obligate the buyer to purchase or the seller to sell Ethereum at a predetermined future date and price.

👍 Pros

Ability to hedge and manage risk exposure

Access to leverage for potentially higher profits

Regulated and offered on established trading platforms

👎 Cons

Complexity and steep learning curve for beginners

High risk due to leverage, which can lead to large losses

Ethereum ETFs

Ethereum exchange-traded funds (ETFs) are investment funds that track the price of Ethereum and trade like stocks on traditional exchanges.

👍 Pros

Diversification and exposure to Ethereum without directly owning it

Easy to buy and sell on traditional stock exchanges

Regulated and managed by professional investment firms

👎 Cons

Management fees can reduce overall returns

Limited availability and regulatory restrictions in some countries

How to Buy Ethereum (ETH) in 4 Steps

Buying Ethereum (ETH) is a simple process that can be accomplished in just a few steps. Here's a brief step-by-step guide

Set up a digital wallet: To store and manage your Ethereum (ETH), you'll need a digital wallet. Choose a reputable wallet provider that supports Ethereum, and create an account. Make sure to back up your wallet's seed phrase and store it securely to ensure the safety of your funds.

Find a cryptocurrency exchange: Select a cryptocurrency exchange that allows the purchase of Ethereum with your desired payment method (e.g., bank transfer, credit card, or another cryptocurrency). Compare fees, features, and reputation to choose the right platform for your needs.

Register and verify your account: Create an account on your chosen exchange by providing the required personal information. You may need to verify your identity to comply with know-your-customer (KYC) regulations. This process might involve submitting identification documents and proof of address.

Buy Ethereum: Deposit funds into your exchange account using your preferred payment method. Navigate to the trading platform, find the ETH trading pair (e.g., ETH/USD, ETH/BTC), and enter the amount of Ethereum you'd like to purchase. Review your order and confirm the transaction. Once complete, your ETH will appear in your exchange wallet or your designated digital wallet

Ethereum Price Predictions 2024, 2025, 2030

Traders Union has developed its own price analysis model to provide Ethereum (ETH) price predictions for the years 2023, 2025, and 2030. Our model considers various factors, market trends, and historical data to generate forecasts to help guide investment decisions.

Ethereum Price Prediction 2024

Month Minimum Price Maximum Price Average Price
January 2024 $1 897,3 $2 318,92 $2 108,11
February 2024 $1 916,27 $2 342,11 $2 129,19
March 2024 $1 935,43 $2 365,53 $2 150,48
April 2024 $1 954,78 $2 389,18 $2 171,98
May 2024 $1 974,33 $2 413,07 $2 193,7
June 2024 $1 994,08 $2 437,2 $2 215,64
July 2024 $2 014,02 $2 461,58 $2 237,8
August 2024 $2 034,16 $2 486,2 $2 260,18
September 2024 $2 054,5 $2 511,06 $2 282,78
October 2024 $2 075,05 $2 536,17 $2 305,61
November 2024 $2 095,8 $2 561,54 $2 328,67
December 2024 $2 116,76 $2 587,16 $2 351,96

Long-term Ethereum price Prediction

Year Price in the middle of the year Price at the end of the year
2023 $2386.86 $3182.48
2024 $3955.37 $5273.82
2025 $4500.94 $6001.25
2026 $6819.6 $9092.8
2027 $10911.36 $14548.48
2028 $13502.81 $18003.74
2029 $17730.96 $23641.28
2030 $22995.69 $30660.92
2031 $26596.44 $35461.92
2032 $31779.34 $42372.45
2033 $36689.45 $48919.26
2034 $39553.68 $52738.24

Top 10 Best Cryptocurrencies to Invest in

Of course, Ether is far from the only cryptocurrency worth tracking and investing in. That’s why our experts have compiled a detailed rating and comparison of the currently most prospective cryptocurrencies on the market. The following ratings were created using criteria like investor awareness, technology background, and historical market performance, so take a look:

Cryptocurrency Industry Current price 1y return 1m Return Total score

Binance Coin (BNB)

Cryptocurrency exchange

228.50$

-24.87%

0.26%

9.5

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Cardano (ADA)

Blockchain platform

0.38$

18.56%

22.36%

9.2

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Your capital is at risk.

Ripple (XRP)

Payments

0.61$

42.91%

0.66%

9

Open an account

Your capital is at risk.

Dogecoin (Doge)

Payments

0.08$

-19.63%

19.52%

8

Open an account

Your capital is at risk.

Polkadot (DOT)

Blockchain platform

5.47$

-2.69%

14.59%

8

Open an account

Your capital is at risk.

LItecoin (LTC)

Payments

71.57$

-8.52%

2.26%

7.6

Open an account

Your capital is at risk.

Stellar (XLM)

Payments

0.00$

NaN%

NaN%

7.5

Open an account

Your capital is at risk.

Uniswap (UNI)

Decentralized exchange

0.00$

NaN%

NaN%

7.4

Open an account

Your capital is at risk.

Tron (TRX)

Blockchain platform/Media

0.00$

NaN%

NaN%

7

Open an account

Your capital is at risk.

IOTA (MIOTA)

Internet of Things

0.00$

NaN%

NaN%

6.9

Open an account

Your capital is at risk.

Note:

This article is not financial advice and is for educational purposes only. Buying cryptocurrencies is a high-risk type of investment.

Summary

In 2023, Ether is still one of the most interesting blockchain networks — with a cryptocurrency that’s steadily growing in value, and a lot of potential applications like smart contracts and NFT trading. With that in mind, it’s not a bad idea to find a reputable crypto exchange, create an account with them, deposit some money, and start trading in Ether.

FAQs

How can I buy Ethereum without fees?

It's generally not possible to buy Ethereum without any fees, as most cryptocurrency exchanges and brokers charge fees for their services. However, you may be able to reduce your fees by using an exchange or broker that offers lower fees, or by using a decentralized exchange (DEX) such as Uniswap.

Is it cheaper to buy ETH on MetaMask or Coinbase?

The fees for buying Ethereum on MetaMask or Coinbase can vary depending on a number of factors such as the payment method, amount of ETH being purchased, and current market conditions. It's always a good idea to compare the fees of different exchanges and brokers before making a purchase to ensure that you get the best deal.

Can you buy Ethereum with $1?

It's possible to buy a very small amount of Ethereum with $1, but many exchanges and brokers have minimum purchase amounts and fees that may make it impractical to buy such a small amount. It's usually best to check the minimum purchase amount and fees of an exchange or broker before making a purchase.

Is it cheaper to buy Ethereum?

The cost of buying Ethereum can vary depending on a number of factors such as the exchange or broker used, the payment method, and current market conditions. It's important to compare the fees and prices of different exchanges and brokers to ensure that you get the best deal. Additionally, the price of Ethereum can fluctuate rapidly, so it's a good idea to keep an eye on the market before making a purchase.

Should I buy Ethereum?

While the Ethereum market value is volatile, its value has steadily been growing throughout 2024.

What’s the best crypto exchange for buying Ethereum?

There are plenty of excellent choices here, but make sure you check if they’re regulated by the appropriate financial agencies in the US and UK.

Is Coinbase a good place to buy ethereum?

Yes, but we definitely still recommend opening an e-wallet and regularly transferring your coins there.

Does ETH hit 10K?

While it has the potential to grow, the current market value of Ethereum doesn’t make it likely for the currency to hit $10,000 in value by the end of 2024.

Team that worked on the article

Mikhail Vnuchkov
Author at Traders Union

Mikhail Vnuchkov joined Traders Union as an author in 2020. He began his professional career as a journalist-observer at a small online financial publication, where he covered global economic events and discussed their impact on the segment of financial investment, including investor income. With five years of experience in finance, Mikhail joined Traders Union team, where he is in charge of forming the pool of latest news for traders, who trade stocks, cryptocurrencies, Forex instruments and fixed income.

The area of responsibility of Mikhail includes covering the news of currency and stock markets, fact checking, updating and editing the content published on the Traders Union website. He successfully analyzes complex financial issues and explains their meaning in simple and understandable language for ordinary people. Mikhail generates content that provides full contact with the readers.

Mikhail’s motto: Learn something new and share your experience – never stop!

Olga Shendetskaya
Author and editor at Traders Union

Olga Shendetskaya has been a part of the Traders Union team as an author, editor and proofreader since 2017. Since 2020, Shendetskaya has been the assistant chief editor of the website of Traders Union, an international association of traders. She has over 10 years of experience of working with economic and financial texts. In the period of 2017-2020, Olga has worked as a journalist and editor of laftNews news agency, economic and financial news sections. At the moment, Olga is a part of the team of top industry experts involved in creation of educational articles in finance and investment, overseeing their writing and publication on the Traders Union website.

Olga has extensive experience in writing and editing articles about the specifics of working in the Forex market, cryptocurrency market, stock exchanges and also in the segment of financial investment in general. This level of expertise allows Olga to create unique and comprehensive articles, describing complex investment mechanisms in a simple and accessible way for traders of any level.

Olga’s motto: Do well and you’ll be well!