How to buy Ethereum (ETH) in the UK (2020)
Current Price: £106.64 24hr: -0.55%
This guide explains how to safely and easily buy Ethereum in the UK. Ethereum (ETH) is the second-largest cryptocurrency, and hosts a great number of ERC20 tokens on its blockchain. Read the below guide to learn how to buy Ethereum in the UK, and with British Pounds (GBP) or Euros. At the end of this guide, we give recommendations on how to safely store your Ethereum.
Recommended Option: CEX (buy with £GBP)
Buy Ethereum in the UK today with CEX
CEX.io is a fast and easy way to buy Ethereum (and other cryptos) in the UK, and allows you to use your credit or debit card, or a bank transfer to fund your account and buy your coin.
- Convert from: GBP, EUR, USD, BTC
- Fund your account with: Credit or debit card, bank transfer
How to buy ETH on CEX…
- Sign up for an account here, by clicking Buy ETH or Register in the top right corner
- Add your payment method, which will be either a credit/debit card or bank account
- Head to the TRADE page via the top-left menu
- From the left-hand panel, expand the ETH panel and choose ETH/GBP
- Scroll to below the charts, and enter the amount you wish to purchase in the Buy ETH box
- Move your coin to a wallet – we recommend Jaxx – see the guide at the bottom of this page
We love CEX because it’s so simple and fast, and allows you to use your credit/debit card easily – that’s why we recommend it first. However, there are other ways of buying ETH in the UK…
Option 2: Coinbase
Coinbase is one of the largest crypto exchanges, but has low trust scores and has been plagued by complaints and downtime in recent months. Therefore, we recommend that you use CEX to buy Ethereum in the UK. If you do choose to use Coinbase, we urge you to move your ETH off the exchange ASAP after completing your trade, and into a wallet such as Jaxx – see the bottom of this page for more details on how (and why) to do this.
Despite its reliability issues, Coinbase is very popular due to its ease of use. The process is very simple:
- Sign up for Coinbase (use this link for a bonus)
- Connect a credit or debit card, or bank account – fund your account in Euros
- Click Buy/Sell and specify an amount of ETH to buy
- Click Buy Ethereum
- Move your ETH to a wallet, see below
Option 3: Bittylicious (£GBP)
If you don’t fancy using an exchange, you can buy Ethereum and other cyrptocurrencies on Bittylicious, provided that you already have a wallet. This site is solely dedicated to buying bitcoin and altcoins such as Ethereum with British Pounds (GBP), from other British sellers.
- Set up an Ethereum wallet (if you haven’t already done so). We recommend Jaxx
- Head to Bittylicious and select ‘Ethereum’ from the coin drop-down
- Enter your Ether address (from the wallet you set up) and email address
- Specify the amount of ETH you’d like to purchase
- Choose whether you’d like to pay by bank transfer, credit/debit card, or Paym – Bank transfer is the cheapest option
- Hit Get some coins and follow the instructions
- Coins will be delivered to the wallet address you specified
Ethereum Wallets: Safely Storing your ETH
We always recommend that you move your cryptocurrencies off of exchanges if you are planning to hold on to them. This way, you’ll hold the keys to your wallet, and therefore will truly own your coins.
Hardware Wallets (recommended)
The most secure option that we recommend is to purchase a hardware wallet: a small electronic device that is immune to many of the threats that software wallets face (such as viruses and hacks).
The most reputable and appropriate hardware wallet for most of our visitors is the Ledger Nano S, which allows you to securely store a number of cryptocurrencies, including Ethereum. You can see a full list of supported cryptocurrencies here.
What is Ether?
You may have heard people talking about Ether and wondered what they’re referring to.
While some people erroneously use Ether and Ethereum interchangeably, the two are actually distinct. Ether is a kind of fuel that powers transactions on the Ethereum blockchain. Decentralised applications (DApps) that use the Ethereum blockchain require Ether to incentivise the fulfilment of the transactions they require.