How to Buy Ethereum in the UK

One of the most popular cryptocurrencies on the market today is Ethereum. But how do you go about selling or buying Ethereum in the UK? Lucky for you, we’ve created a guide to walk you through it on a couple of platforms.

If you want to buy ETH in the UK, there is a significant likelihood that you’ll have to use a crypto exchange or CFD broker. These platforms let you buy, sell, or trade your favorite cryptocurrencies. Keep in mind that most platforms will require you to sign up, provide some personal documentation, then deposit your funds.

When that’s all done, you can start selling or buying Ethereum. The United Kingdom has plenty of options from which you can choose to purchase crypto, however, there are a few platforms that we recommend over others.

Plus500 and Coinmama (see Coinmama review) are excellent options which let you learn more about cryptocurrencies while gaining valuable exposure and experience. Both are excellent choices for trading Ethereum.

 

  • 📈 Trade: BTC, ETH, XRP, LTC, BCH & IOTA
  • 💰 Deposit Methods: Credit/DebitCard, PayPal, Skrill, Bank Transfer
  • ✅ Regulated
  • ✅ Plus500 is a CFD Broker Which Means No Need To Setup Crypto Wallets
  • 🎧 Support: 24/7 Live Chat & Email
  • ✅ Mobile App For iOS & Android

  • 📈 Trade: BTC, ETH, XRP, LTC, BCH, ADA, QTUM, ETC
  • 💰 Deposit Methods: Credit/ Debit Card, Bank Transfer, Cash
  • ✅ Regulated
  • ❌ No Need To Setup Crypto Wallet
  • 🎧 Support: Email Form & Facebook
  • ❌ Mobile App For iOS & Android

 

Note: 80.6% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money. Plus500UK Ltd authorized & regulated by the FCA (#509909). You do not own or have any rights to the underlying assets. Please refer to the Disclosure documents available on the Plus500 website.

Where to Buy Ethereum in the UK?

Ethereum coin graphic

Contract for Difference

When we’re talking about Contract for Difference, we’re talking about a product that lets users gain exposure to Ethereum without needing to hold the coin. With CFD, a user enters in at a certain price. When the user closes the contract, the difference between the entering price and the closing price is paid out. This is why it’s called a Contract for Difference.

When it comes to CFD sites, we recommend Plus500 for buying Ethereum in the UK. The platform gives users a great way to gain exposure to Ethereum without holding it. Users don’t need wallets since they aren’t actually going to hold Ethereum. Using Plus500 gives users a reliable, regulated platform that lets them “buy” Ethereum.

Standard Crypto Exchange

If you decide you’d rather buy Ethereum in the UK using a standard exchange, we recommend Coinmama. On the Coinmama site you can buy, sell, and trade all your favorite digital coins. Coinmama makes purchasing Ethereum in the UK an easy process, even for those new to cryptocurrency.


Plus500: How to Sell or Buy Ethereum in the UK

Buy Ethereum in UK with Plus500

Plus500 is one of the best CFD sites around. It gives users the ability to gain exposure to the ups and downs of the crypto market without requiring them to store their currency in a wallet. Head over to the Plus500 site to get started with selling or buying Ethereum in the UK (80.6% of retail CFD accounts lose money). On the homepage click on the button labeled “Start Trading Now” to begin registration.

How to create UK Plus500 account

Next, you’ll choose your account mode. Select Real Money to move on with the account creation process. Additionally, you can download the Plus500 mobile application to your iPhone or Android devices from this page.

How to create real money account on Plus500

The next page has a form you’ll need to fill out. Just enter your email address and select a password. If you prefer, Plus500 does have an option to register using either your Facebook or Google account information. When you’ve made your choices, click on the “Create Account” button.

How to create account on Plus500?

Plus500 will ask for a little more information on the next page. You’ll need to provide the platform some personal data and documentation to verify your identity. Once this step is finished, Plus500 will activate your account.

How to verify on Plus500

Funding Your Account and Buying Ethereum

Once you get account approval from Plus500, you can get started with depositing GBP into your account. Plus500 have a wide variety of deposit options you can use for purchasing Ethereum in the UK.

How to deposit on Plus500

When you GBP shows up in your account, you can get to buying Ethereum in the UK. Select the “Trade” option located on the left side of the page. Find “Cryptocurrencies” to see Plus500 complete list of CFDs.

To buy Ethereum, all you need to do now is select “Buy.” On the right side of the page, you’ll notice a window that lets you determine the parameters for your order. In this area, you can set your number of contracts, profit levels, and stop loss levels. Click “Buy” when you’ve finished entering your choices.

How to buy Ethereum UK with Plus500

Plus500 will send you an alert once your order fills. Then you can see all the pertinent information to your position, including current profit and loss, available funds, and margin. When Ethereum gets to a point where you’re ready to close the contract, just click “Close” to finalize the CFD.

How to sell ethereum UK with Plus500


How to Use CoinMama to Buy Ethereum

At this time, Coinmama does not have a mobile app and is only available through its website. If you want to buy Ethereum in the UK, navigate to the Coinmama site to get started. If you look at the top right of the homepage, you’ll see a “Sign Up” button. Select that link to start the registration process.

How to signup to Coinmama

Fill out the form that shows up on the next screen. You’ll enter your email address, select a password, along with some other basic information. When you’re done, click the “Create Account” button, then sit back and wait for an email from the exchange.

How to create a Coinmama account

Next, Coinmama will ask for a little more personal data. Coinmama wants this info to learn more about you and provide additional security for its site. Most cryptocurrency exchanges request this information, so there’s nothing to worry about.

Once you’ve provided that info to Coinmama, they’ll request some basic documentation for identity verification purposes. To complete the Know-Your-Customer portion, you’ll have to provide Coinmama with a photo of a government-issued ID like your passport or driver’s license.

Coinmama registration form

Fortunately, you don’t have to wait very long for approval as Coinmama typically processes your documentation inside of a few hours. Now you’re ready to deposit funds so you can start your Ethereum transaction.

Purchasing Ethereum

Whether you view it as a positive or negative, Coinmama won’t keep your debit or credit card information on their site. That means you don’t have to wait for your funds to clear when you’re ready to buy your Ethereum.

All you need to do is select the “Buy” button in the top right corner. Choose ETH since you want to purchase Ethereum.  Additionally, make sure you select EUR since you’re buying Ethereum in the UK.

Input the amount of Ethereum you want to purchase. You can also choose EUR if you prefer that method. Now Coinmama will ask for your wallet information. If you don’t have one already, you’ll need an offsite wallet in which to store your Ethereum after your purchase is complete. Enter the address of your wallet, provide your credit card or debit card information, then click “Buy ETH.”

Ho to buy Ethereum on Coinmama

Coinmama will validate your payment information. When everything goes through, you’ll soon see Ethereum in your cryptocurrency wallet of choice. There is a minimum purchase with Coinmama, so be sure you’ve met that so you can purchase your Ethereum.

As we touched on, one negative to Coinmama is that as an exchange, it does not offer an onsite wallet. Most exchanges provide this feature. So before you make your Ethereum purchase on Coinmama, you’ll want to make sure you already have a wallet.


More On Ethereum

ethereum logo

Ethereum is one of the more popular altcoins in the crypto industry, however, not everyone is familiar with it. What is Ethereum and how does it work? We want to provide a better understanding of this cryptocurrency and what it has to offer.

What is Ethereum?

One thing people don’t know about Ethereum is that it’s open-source. The network gives developers the means to create decentralized applications on the Ethereum blockchain. This means that no one person or entity has complete control over any application built on its network.

Ethereum’s goal is to get rid of the current client-server behavior we’ve all grown accustomed to. It wants to completely decentralize applications in an effort to create programs that don’t rely on a single entity. This task would be managed through Ethereum’s network.

What is a Smart Contract?

You might often hear the term “Smart Contract” when it comes to talking about Ethereum. If you’re not familiar with Ethereum, you may not know what a Smart Contract is or how it is used on the blockchain. This promising part of Ethereum’s network is disrupting many industries around the globe. It is impacting banking, real estate, health care, and many other markets.

With a smart contract, the parties involved agree on the specifics prior to entering the contract. Once the parameters of the contract are met, the network is notified which then tells the contract it’s okay to execute. So if you’re buying a home, those involved can tell the contract to move funds when everything is signed and agreed upon.

When using a smart contract, no single entity has the power to reverse or change it. Once the contract is live on the blockchain, a majority is needed to change anything. As you can imagine, this can be an incredibly difficult thing to accomplish.

Ethereum’s code makes it possible to create and execute any type of contract. These can pertain to real estate, financial options, decentralized voting, and many other areas. There are plenty of possibilities available when it comes to using Ethereum’s smart contract capabilities.  

Who Developed Ethereum?

Even though Ethereum is based on decentralization and has no single point of control, it had to have a creator. That person is software developer Vitalik Buterin. At 19, Buterin was deeply involved in cryptocurrency and already designing the Ethereum network.

In 2014, Buterin won the Peter Thiel Fellowship award, which also included a prize of $100,000. This award was based on his work with the Ethereum blockchain. Thanks to all the hard work Buterin was willing to put into the Ethereum platform, it is one of the highest-ranking altcoins available on the crypto market.

Ethereum Advantages & Disadvantages

Ethereum has plenty of benefits and one of the biggest advantages of using this technology is that it cannot be controlled by one single person or entity. Neither can the apps that reside on the Ethereum blockchain.

A consensus algorithm is used for all blockchain platforms. Therefore, a certain number of nodes on the network must come to an agreement before anything can be changed. This aids in reducing fraud, corruption, and hacking. Additionally, it makes it nearly impossible to tamper with the network itself.

Ethereum is a decentralized network, which means it has no single point of failure. This is a huge benefit since all applications that reside on the network are online and available throughout the day and night. Additionally, since the Ethereum network is decentralized, it’s protected against hacks or cyber threats.

Of course, that’s not to suggest Ethereum is a perfect platform. Unfortunately, the network was programmed by a human, which means there’s always the potential for error in the code. This could lead to an exploit which means that a fix would have to be written. The only way to change the code would be to earn a majority consensus and rewrite it, which is virtually impossible to do.

Is Ethereum a Good Investment?

While there is no solid answer on whether or not Ethereum is a good investment for the future, here are a few things to keep in mind as you go about making your decision:

  • The overall price of Ethereum has grown over 56,000% since its creation, which you can see here.
  • Ranking toward the top of all cryptocurrencies makes Ethereum a less risky investment when compared to smaller coins
  • Smart contract opportunities are disrupting current markets and industries
  • Listed on the vast majority of cryptocurrency exchanges
  • Backed by Fortune 500 companies like Microsoft, BP, and JP Morgan
  • Easy to buy, sell, and trade
  • Could experience pressure from projects like Binance coin as a funding option for cryptocurrencies

Keep in mind that cryptocurrency is a volatile market and investing in this asset class has inherent risks associated with it. If you’re interested in recent analytics or predictions on where Ethereum is headed, visit CoinMarketCap or Trading View.

 

  • 📈 Trade: BTC, ETH, XRP, LTC, BCH & IOTA
  • 💰 Deposit Methods: Credit/DebitCard, PayPal, Skrill, Bank Transfer
  • ✅ Regulated
  • ✅ Plus500 is a CFD Broker Which Means No Need To Setup Crypto Wallets
  • 🎧 Support: 24/7 Live Chat & Email
  • ✅ Mobile App For iOS & Android

  • 📈 Trade: BTC, ETH, XRP, LTC, BCH, ADA, QTUM, ETC
  • 💰 Deposit Methods: Credit/ Debit Card, Bank Transfer, Cash
  • ✅ Regulated
  • ❌ No Need To Setup Crypto Wallet
  • 🎧 Support: Email Form & Facebook
  • ❌ Mobile App For iOS & Android

 

80.6% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

You can also use the above exchanges to buy Bitcoin, Ripple XRP and Litecoin in the UK.

Further Reading At TotalCrypto.io
1) Want To Hear A Bit More About Ethereum? We Have You Covered With Our Deep Dive Into ETH.

2) Need A Hand Figuring Things Out On Plus500? Read Our Dedicated Plus500 Walkthrough.

3) What Trading Mistakes Do You Want To Avoid? We Reveal The Top Crypto Trading Mistakes People Make.

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DISCLAIMER: Be aware that the activity of cryptoassets mentioned in this article is unregulated. This article must not be construed as investment advice. Always do your own research.

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