How to Buy Ethereum in 2019 | Step-by Step Beginner's Guide

Anisa Batabyal
| 04 July, 2019 | 2 min

Ethereum is the second largest cryptocurrency in the world, which has started with the concept of smart contracts through the blockchain-based distributed computing platform. Ethereum was created by Vitalik Buterin, which was formed with the aim of providing decentralized applications to its users, enabling online payments with the help of a peer-to-peer electronic cash system. Ethereum can also be used to build and create Decentralized Autonomous Organizations (DAO), which is basically run by programming code, which are a bunch of smart contracts on the ETH blockchain.

How To Buy Ethereum With USD

You can directly go to the CoinSwitch page and buy Ethereum by enabling payment through fiat currencies like USD and Euro, which is powered by Simplex, which is a noteworthy partner of ours. There are some simple transaction limits which state that your first transaction can be anywhere from around $50 to $10,000, but once your 1st time is done, you can have a daily transaction limit of $20,000 and a monthly limit of $50,000. The winning part is that you will not be charged any extra fees for the same and your queries can get answered anytime you want as the support team is available 24/7.

The speed of the transaction is powered through the lightning network and hence can be completed anywhere between 10 to 30 minutes. This is one of the easiest ways on how to buy Ethereum with fiat currencies. The page looks something like this:

Now let us understand the steps involved in buying Ethereum through USD:

#1 Sign Up

You should be having an account with the respective exchange, otherwise, you need to sign up, by feeding some information about you, which will be a part of the KYC process. You must always finish off signing up initially so that you can save time during the check out process.

#2 Adding The Relevant Details

In this critical step, you need to add the billing details of your credit card. Just make sure that all the details are correct like the billing address, otherwise, the details might not be authenticated. You need not worry about the information going public, as most of the exchanges have the privacy policy to make sure the user’s information is not leaked.

#3 Know Your Customer (KYC)

Now, you have to provide with some of your personal information like government-issued ID card along with your photograph. As you are about to make a transaction with a fiat currency, you must give this information to proceed ahead. Once you are done with the KYC, you are all set to do a transaction.

How To Buy Ethereum With a Debit Card

There are many exchanges which support purchasing Ethereum with a debit card, and some of those exchanges are Coinbase, Coinmama, CEX.io, Changelly, BitPanda, etc. We will discuss two of them here.

#1 Coinbase

Coinbase is one of the largest crypto exchanges in the world which lets you buy Ethereum and other cryptocurrencies and also supports instant purchase of cryptocurrencies through credit card, debit card. (Mastercard/Visa). But your debit card should be “3D secure”.

Supported Countries: USA, Europe, Canada, Australia, United Kingdom

Pros:

  • High Purchasing Limits
  • Instantly buy with a debit card

Cons:

  • Bank Transfer purchases might take 5 days to complete.

#2 CEX.io

It is an UK-based exchange that supports buying and selling of cryptocurrencies like Ethereum and Bitcoin. As it is a 6-year old crypto exchange, it has earned a lot of respect and credibility in the market. We recommend you to configure your card details so that you can buy it instantly ad there will be no waiting time.

Supported Countries:Iceland, Vietnam, Afghanistan, Algeria, Bahrain, Iraq, Kuwait, Lebanon, Libya, Nigeria, Oman, Pakistan, Palestine, Qatar, Saudi Arabia, and Yemen.

Pros:

  • You can buy ETH and BTC from anywhere around the world from CEX.io.
  • Instantly buy if having pre-configured card details.

Cons:

  • For the first timers, the card verification might take 24-48 hours time.
  • The exchange rates are kind of high.

CoinSwitch also supports purchasing Ethereum with a debit card and this feature is backed by Simplex. You can buy Ethereum with a debit card easily, which involves the same steps as buying Ethereum with a credit card. Most of the exchanges follow some standardized steps, which are as follows:

  1. Create an account in the respective exchange
  2. Add your debit card to the respective exchange profile
  3. Verify your identification with the respective exchange
  4. Now, you are ready to buy Ethereum using your debit card.

How To Buy Ethereum With Credit Card

Same as “How to buy Ethereum with USD”

How To Buy Ethereum Using Wire Transfer

Wire or bank transfer is again one of the most popular ways to buy Ethereum and other cryptos, supported by several exchanges, some of which are as follows:

#1 Coinbase

You can purchase through your connected bank account either via Automated Clearing House (ACH) transfer or via Single Euro Payment Area (SEPA). The former is mainly for the United States and takes five days while the latter is for Europe and takes less than two days to get delivered. Coinbase charges around 1.49% fee on every transaction.

#2 BitPanda

BitPanda is another exchange which accepts every kind of wire transfer- online, SEPA and ACH. The best part is that no fees are charged and it has one of the lowest fees when bank transfers are concerned. BitPanda is considered as one of the trusted brokers as well.

How To Buy Ethereum With Other Altcoins

One of the best places which you let you have all the trading solutions in a single platform is CoinSwitch, wherein you can buy Ethereum with other altcoins. CoinSwitch supports more than 400 cryptocurrencies, hence you can get multiple options of exchange between the cryptos, like for example, ETH to BTC and vice-versa and around 45,000 such pairs. CoinSwitch not only gives you the most competitive rate but also gives you the accessibility of reaching out to us anytime you want, as the customer support team is 24/7 active. You can buy Ethereum now and CoinSwitch is one platform where you can buy ETH without registration.

You can follow these steps in order to understand how to buy Ethereum with other altcoins:

#1 First you need to go and put the respective altcoin that you are going to exchange Ethereum for. For example, let’s take Litecoin as an example:

#2 After this, you can check out the different offers with the different exchanges, compare and choose the best rate, for instance, let’s take SwapLab here.

#3 Then you just have to put the Ethereum address of the wallet, where it will be deposited. Post which you can initiate the exchange.

How To Buy Ethereum Peer To Peer

Some of the crypto enthusiasts prefer buying ETH anonymously, as they want to avoid the Know your customer or anti-money laundering steps. Local Ethereum is one such peer- to- peer exchange platform, which facilitates the over-the-counter exchange, and provides escrow-like service. So, it's a marketplace which enables you to offer any local currency for a certain amount of Ethereum. After the seller accepts, the funds get exchanged automatically. Some people may find this as one of the safest ways to buy Ethereum.

Should You Invest In Ethereum In 2019?

Ethereum has already managed to gain the credibility of the users by establishing itself as the second largest cryptocurrency in the world. Through smart contracts, Ethereum enables having trustless transaction between people. The best part is that it's having a large community of builders and innovators who keep on developing as and when needed. So, yeah, it's never late for investing in Ethereum. But you need to do proper market research for engaging in any kind of trading or investing activities.

About CoinSwitch

CoinSwitch.co is the world’s largest cryptocurrency exchange aggregator which supports 300+ coins and over 45,000+ pairs. It provides an easier way of trading through global exchanges like Binance, KuCoin, IDEX, Huobi, Ethfinex, HitBTC and Cryptopia without creating an account on them. If you are interested in buying cryptos, do give it a try!





Buy ETH using credit cards at the best rates
Buy Now
Buy ETH using credit cards at the best rates