There is a burning question: Where and how to buy Ethereum in the UK? If you are asking yourself that, then it’s time to do some research and onboard some knowledge about the second most popular cryptocurrency in the world. Ethereum (ETH) is a crypto with potential so here are some things to keep in mind before you buy.
What is Ethereum?
Ether, the native cryptocurrency of the Ethereum blockchain, has a fascinating history that traces back to its inception in 2013.
Conceived by Vitalik Buterin, a young programmer with a vision for a more versatile blockchain platform, Ether emerged as a fuel to power the Ethereum network.
Unlike Bitcoin, which primarily served as a digital currency, Ether was designed to be more than just money. It became the lifeblood of Ethereum, enabling the execution of smart contracts, decentralised applications (dApps, apps built on the blockchain rather than the internet), and the creation of new tokens.
This revolutionary concept attracted developers, entrepreneurs, and investors, propelling Ether’s rise in the cryptocurrency world.
Why do investors buy Ethereum?
There are many reasons why investors become interested in buying Ethereum.
Potential for price appreciation
Like many cryptocurrencies, Ethereum has experienced significant price fluctuations in the past, with periods of rapid growth, and rapid decline. Some investors believe it has the potential for further price appreciation in the future due to its technological advancements and growing adoption. But of course, it could also depreciate too.
Technology
There are other reasons to buy it outside of potential price appreciation. Ethereum is more than just a digital currency. Its blockchain platform allows for the creation of decentralised applications (dApps) and smart contracts, which have potential use cases in various industries like finance, gaming, and supply chain management.
Ethereum has a large and active developer community, and many projects are being built on its platform. Its uses could increase demand for Ethereum.
Expert opinion: Buying Ethereum
There are several reasons why someone might be interested in buying Ethereum. Asher Tan, CEO of CoinJar, thinks it is time to consider buying Ethereum, especially as major financial institutions are exploring Ethereum and its potential applications, signalling growing mainstream acceptance.
“The recent launch of Ethereum ETFs is generating buzz, potentially pushing prices higher. Also, Ethereum’s network effects are accelerating. More developers are building on Ethereum than ever before, leading to more innovative applications and services.”
Tan says that the interest in Ethereum follows a growing interest in the broader crypto market. “I see a continued trend towards mainstream adoption. More individuals and institutions are recognising the potential of cryptocurrencies as an investment asset and a tool for financial innovation.”
That said, the crypto market is still relatively young and volatile. Tan says, “There will be ups and downs, but for those with a long-term perspective and a belief in the underlying technology, the potential rewards could be significant.”
How to purchase Ether: Choosing a platform
So now that you decided that Ethereum is a cryptocurrency you are interested in, how do you buy it?
The right platform can make your crypto journey smooth. Here are popular options in the UK:
How to buy Ethereum on cryptocurrency exchanges
Most people buy cryptocurrency from crypto exchanges because these platforms offer a convenient and accessible way to enter the market. Many investors closely monitor the ethereum price uk to inform their buying decisions. Exchanges provide a wide variety of cryptocurrencies to choose from, -friendly interfaces, and various payment methods.
They also often have features like charts, price alerts, and trading tools that can help s make decisions.
Additionally, exchanges typically offer protection measures to protect s’ funds and personal information, making them a trusted option for buying and selling cryptocurrencies. CoinJar is an example of a crypto exchange in the UK.
How to buy ETH via crypto brokers
A crypto broker in the UK is a platform or service that facilitates the buying and selling of cryptocurrencies using traditional currencies like the British Pound (GBP). They act as intermediaries between buyers and sellers.
While crypto brokers may offer convenience and additional services like research or portfolio management, they typically charge uncompetitive fees than exchanges.
Why investors buy ETH on Peer-to-Peer (P2P) marketplaces
P2P platforms provide a direct connection between cryptocurrency buyers and sellers, without an intermediary. They primarily operate on decentralised exchanges but are now emerging on centralised platforms too.
While P2P platforms offer a unique trading experience, it’s recommended to gain some experience with the crypto world before diving into these platforms.
There are potential drawbacks of P2P platforms. P2P platforms can have uncompetitive fees, called “spreads”. Spreads are the difference between the buying and selling price of a cryptocurrency. This price difference is essentially the fee you pay for using the platform.
Fraud Risk: There’s a perceived high risk of fraud associated with P2P exchanges. It’s important to be cautious and aware of potential scams when using these platforms.
If you’re a beginner, consider starting with other platforms or methods to gain experience and confidence before exploring P2P platforms.
Creating an
Once you’ve chosen a platform, you will need to create an .
Provide your email address, create a strong , and agree to the platform’s and conditions.
Most platforms require identity verification to comply with regulations. This typically involves providing a government-issued ID and proof of address. UK residents are required (in accordance with local legislation) to complete an assessment and to wait 24-hours (see below).
Add a payment method
Link your preferred payment method to your . You can use a bank transfer, a card, or even other cryptos.
Buying Ethereum (guide once has been set up)
Navigate to the “Buy” section. Choose Ethereum from the list of available cryptocurrencies. Specify how much Ethereum you want to buy in either GBP or ETH, and enter the amount. Double-check the details of your transaction, including fees, and confirm your purchase.
Storing Your Ethereum
Once you’ve bought Ethereum, it’s crucial to store it in a protected manner. If you buy from an exchange like CoinJar, you can conveniently keep it in your on the platform. You don’t need to get another wallet.
However if you want to move it off the exchange, then you can get a software wallet like MetaMask that you to your computer or smartphone.
You can also get a physical device like Ledger which keeps crypto offline, so it is very difficult to hack.
Best Practices and Tips
Begin with a small investment to get comfortable with the process. Also, consider investing in other cryptocurrencies besides Ethereum, so you diversify risk.
Conclusion: Buying Ether (ETH) in the UK
Buying Ether (ETH) in the UK is a -friendly process, with numerous options to cater to your specific preferences.
Whether you prefer using a credit card, debit card, Google Pay, or Apple Pay, reputable exchanges and platforms allow you to purchase Ethereum conveniently and in a protected manner.
Choose a platform that aligns with your needs, and always prioritise protection measures to safeguard your investments.
Now that you’re armed with the knowledge of where and how to buy Ethereum, you can start buying and exploring the vast potential of this open-source blockchain technology.
Standard Risk Statement
The above article is not to be read as investment, legal or tax advice and it takes no of particular personal or market circumstances; all readers should seek independent investment advice before investing in cryptocurrencies. The article is provided for general information and educational purposes only, no responsibility or liability is accepted for any errors of fact or omission expressed therein. Past performance is not a reliable indicator of future results.
UK residents are required (in accordance with local legislation) to complete an appropriateness assessment to show they understand the risks associated with what crypto/investment they are about to buy and enabling CoinJar to categorize them as an investor. New customers are also required under local regulations to wait 24-hours as a “cooling off” period (from creation), before their is active (i.e. to deposit, trade, withdraw etc.).
Cryptocurrency is currently not regulated in the UK. It’s vital to understand that once your money is in the crypto ecosystem, there are no rules to protect it, unlike with regular investments. You should not expect to be protected if something goes wrong. So, if you make any crypto-related investments, you’re unlikely to have recourse to the Financial Services Compensation Scheme (FSCS) or the Financial Ombudsman Service (FOS) if something goes wrong.
:
Don’t invest unless you’re prepared to lose all the money you invest. This is a high‑risk investment and you should not expect to be protected if something goes wrong. Take 2 mins to learn more.
https://www.coinjar.com/uk/risk-summary
If you use a credit card to buy cryptocurrency, you would be putting borrowed money at a risk of loss. We recommend you obtain financial advice before making a decision to use your credit card to purchase cryptoassets or to invest in cryptoassets.
