Many investors want to learn how to buy Ethereum in the UK to hold the asset or explore the numerous decentralised applications (dApps) on the Ethereum network. Unlike other articles on how to buy ETH that does not provide clear guidance, this guide on buying Ethereum provides a step-by-step direction on how to get ETH on different exchanges.
For instance, here’s a typical example of how to buy Ethereum with GBP on any platform that supports the asset.
Table of Contents
How to buy Ethereum (quick guide)
- Register on a cryptocurrency exchange like Binance and complete the user verification process.
- Find the Instant Buy option on your account (it might be named differently).
- Choose ETH as the currency to buy and specify GBP as your payment currency.
- Choose to pay with a credit/debit card and provide your bank card details as requested.
- Specify the amount to purchase and review the order details.
- Complete the purchase by authorising payment from your card.
- Once confirmed, the exchange will add the purchased ETH to your wallet balance.
How to Buy Ethereum with GBP
The above example of how to buy Ethereum in the UK using GBP assumes that the platform provides an Instant Buy option, as is readily available on most exchanges.
This section looks at how it could work on more platforms, including exchanges where users must buy ETH with GBP via an order book. There is also a list of available payment options and the pros and cons of using each exchange.
CEX.io – best way to buy Ethereum in the UK
London, UK-based cryptocurrency exchange CEX.io offers an excellent option for users to buy ETH with GBP. The platform launched in 2013 and is one of the longest-serving cryptocurrency trading platforms.
Similar to our initial example, the platform provides an Instant Buy service to purchase ETH. The process is relatively straightforward and can be completed in minutes, depending on your chosen payment method.
Accepted Payment Methods: Visa, Mastercard, Domestic Bank Transfer, Skrill.
Steps to buy
- Register at CEX.io and complete the email and user verification process.
- Go to the main menu after logging in and select the Instant Buy option
- Select ETH as the crypto to buy and GBP as your payment currency.
- Specify the purchase amount and click Buy.
- Review the order details on the next screen and add a new card to your account.
- Complete the order by authorising the payment checkout with your bank card.
- Once completed, CEX.io will add the purchased ETH to your account.
- CEX.io is a reliable cryptocurrency trading platform.
- The exchange provides a user-friendly experience even for first-time users
- The platform supports a wide range of payment methods.
- CEX.io has a responsive customer service desk.
- The platform charges a relatively high fee, between 3-4% for card transactions.
- The extensive KYC and card verification process makes CEX.io less ideal for anyone seeking to buy ETH anonymously.
Coinmama is another top destination for anyone that wants to buy ETH with GBP. The platform launched in 2013 and has a good reputation within the crypto community.
Notably, Coinmama is not like a traditional centralised exchange. The platform requires users to create an ETH address to buy crypto from their platform. Thus, Coinmama does not hold user funds but acts as a broker.
Accepted Payment Methods: Visa, Mastercard, ApplePay, GooglePay, SEPA, Skrill.
Steps to buy
- Register with Coinmama.com and verify your identity.
- Go to the Buy menu and select Ethereum as the coin to buy.
- Select GBP as your payment currency and specify the amount to spend.
- Review the order details and provide your Ethereum address.
- Complete the checkout process and wait for Coinmama to send ETH to the provided address.
- Coinmama is a reliable exchange service for UK customers.
- Coinmama encourages self-custodial ownership, ensuring greater security for users.
- The platform provides a range of payment options for buying ETH with GBP.
- Users also enjoy a responsive customer service experience.
- Coinmama’s purchase process may not be convenient for first-time investors.
Binance is the world’s largest cryptocurrency exchange by trading volume. Launched in 2017, the platform lists numerous ETH trading pairs and offers many fiat payment methods for users to buy ETH with GBP. Although this tutorial focuses on bank cards, Binance’s P2P trading service allows users to buy ETH with GBP through more payment solutions than other exchanges.
Accepted Payment Methods: Visa, Mastercard, Faster Payments, and P2P Trading.
Steps to buy
- Register your Binance.com account and verify your identity.
- Go to Buy Crypto and select GBP as your payment currency.
- Choose to pay via Credit/Debit card and proceed to the next page.
- Select ETH as the currency to buy from the dropdown menu and input the amount.
- Review the order details and add a bank card.
- Complete the checkout by authorising the transaction
- Binance will add the purchased ETH to your wallet. Go to Wallet > Fiat and Spot.
- Binance offers several payment options for ETH purchases
- The platform is transparent about associated fees
- Users can stake ETH on Binance to earn rewards
- ETH can also be used as collateral to borrow fiat on Binance.
- Having too many users means that it may occasionally take a while to reach Binance’s customer support.
Coinbase launched in 2012 and is one of the few publicly-traded cryptocurrency exchange companies. The platform is another popular option for investors searching for ways to buy Ethereum in the UK.
Accepted Payment Methods: Visa, Mastercard, Faster Payments, SEPA, Easy Bank Transfer
Steps to buy
- Register for an account at Coinbase.com and verify your identity
- Login to your new account and find the Payment Method box
- Add a new payment method (we use bank cards for our example)
- Select Buy/Sell or use the + button on the Coinbase mobile app.
- Select Ethereum from the list of cryptocurrencies and initiate a purchase.
- Input the purchase amount and review the order details.
- Complete the purchase by authorising payments via your chosen payment method.
- Coinbase provides a user-friendly interface.
- Users can deposit GBP using a range of payment options.
- Users can stake ETH on Coinbase to earn additional rewards.
- The platform charges relatively high fees compared to competitors.
- Coinbase users report longer waiting times while reaching out to customer support agents.
LocalCryptos (Formerly Known as LocalEthereum)
LocalCryptos differs from other exchanges that we’ve considered so far. The platform is a peer-to-peer marketplace, as users transact directly without using an order book. Users initiate a purchase by selecting from a list of open sell orders and communicating with the seller to coordinate the purchase.
Accepted Payment Methods: Domestic Bank Transfer, Wise.com, Revolut, and Cash Payments.
Steps to buy
- Sign up for a LocalCryptos.com account and verify your identity.
- Go to the Buy Ethereum page and review the list of open offers to find one that matches your terms.
- Review the seller’s reputation and trading terms.
- Enter the amount of ETH to purchase and click Open Trade.
- Communicate with the seller on other payment terms.
- Complete the payment using the information provided by the seller.
- Click on Mark as Paid and wait for the seller to release the purchased ETH.
- LocalCryptos is a reputable trading platform
- Users can enjoy buying ETH with GBP using multiple payment methods.
- Users can also access higher limits not available on other exchanges.
- Card purchase not available.
- ETH is sold at a significant premium to the market price
Launched in 2014, London-based Wirex is another excellent choice for buying ETH with GBP. The platform initially launched with a focus on handling fiat payments. However, it quickly expanded into the crypto space based on customer demand. Wirex added support for Ethereum in 2018 and enabled purchases using several payment methods.
Accepted Payment Methods: Visa, Mastercard, Domestic Bank Transfer via Plaid, Wire Transfer.
Steps to buy
- Install the Wirex app and complete the registration/identity verification process.
- Add funds to your GBP wallet using your preferred method.
- Find the Exchange option on the Wirex App.
- Choose to convert GBP to ETH.
- Review the order details and complete the exchange.
- You may choose to withdraw ETH to your personal wallet for maximum security.
- Wirex is a fairly reputable currency trading platform.
- The Wirex app is user-friendly
- The platform is fee-friendly, and users enjoy the best exchange rates.
- Users can spend ETH using the Wirex card
- Wirex's extensive KYC process slows down the new customer onboarding process.
BC Bitcoin is a non-custodial cryptocurrency exchange that operates similarly to Coinmama. Users provide an external address to receive the purchased ETH after completing the payment. BC Bitcoin has been live since 2017 and provides a fairly reliable brokerage service.
Accepted Payment Methods: Visa, Mastercard, Faster Payments, SEPA
Steps to buy
- Register for a BC Bitcoin account and verify your identity.
- Login to your new account and click Buy Coins
- Select Ethereum (ETH) from the dropdown menu
- Choose your preferred payment method and select GBP as the payment currency.
- Input the amount to spend and review the associated fees.
- Provide your Ethereum wallet address and complete the checkout process.
- BC Bitcoin will send the purchased ETH to your address within a few minutes after payment confirmation.
- The purchase process is straightforward.
- BC Bitcoin is transparent about associated fees.
- Users can enjoy a variety of fiat payment methods.
- BC Bitcoin boasts a responsive customer support team.
- Transactions may sometimes take longer to settle or cost higher fees, especially during high Ethereum network congestion.
Privacy and Security Tips to Keep in Mind When Buying Ethereum
Remembering the following privacy and security tips can make your Ethereum investment journey worthwhile:
- Always double-check addresses before transferring ETH. Doing so prevents transferring coins to the wrong address or, worse, to a hacker’s wallet if your device is infected with clipboard malware.
- It is best to invest in a hardware wallet like Ledger or Trezor if you hold substantial amounts in ETH.
- Do not connect your Ethereum wallet to random decentralised applications (dApps). Double-check website URLs and only use reliable services.
There are several exchanges where investors can buy ETH with GBP. This article explained how to buy Ethereum in the UK on these platforms and provided other pertinent information for users to make the right decision.
Overall, the best exchanges provide multiple payment options, offer reliable customer support, and provide additional Ethereum-related products. These provisions allow customers to enjoy a seamless experience and make the most out of their ETH investments.