Best Ethereum Exchange Reviews & Comparison
By: Ofir Beigel | Last updated: 3/8/22
Ethereum has rapidly become one of the largest cryptocurrencies, second only to Bitcoin. Today, many decentralized applications run on Ethereum, with many exchanges focusing on Ether in their currency pairs.
In this article, I’m going to go over the different Ethereum exchanges available and list the various things you need to take into account before choosing an exchange.
Ethereum Exchange Guide Summary
In order to buy or sell Ethereum, you’ll need to find an Ethereum exchange. When choosing an Ethereum exchange it’s important to differentiate between 3 different types of exchanges: brokers, trading platforms and P2P marketplaces.
Here are my top 4 picks for the best Ethereum exchange by category:
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CFDs are not available to US customers.
If you want a detailed explanation about the different types of exchanges and to read summarized reviews of the different exchanges keep on reading. Here’s what I’ll cover:
- How do I Buy Ethereum?
- Ethereum Exchange Types
- How to Choose an Exchange?
- Best Ethereum Brokers
- Best Ethereum Trading Platforms
- Best Ethereum P2P Marketplaces
In order to buy Ethereum you’ll need to:
- Find an Ethereum exchange
- Open an account
- Deposit funds
- Exchange your funds for Ethereum
- Withdraw the Ethereum to your own wallet (optional but recommended)
Before you choose an Ethereum exchange, it’s important to get familiar with the different exchange types out there.
Connect buyers and sellers automatically through an online website. The buyer states the requested price and the platform finds a seller that meets the bid. No direct communication is done between the buyer and seller. Trading platforms are usually the cheapest option when it comes to fees, but are also much more complicated than other options.
A website that sells you Ethereum directly for a premium. Brokers are usually the easiest way to buy Ethereum but are also usually more expensive.
Peer-to-Peer (P2P) marketplaces
Websites that connect buyers and sellers directly so they can negotiate on a price. While these sites usually allow for a wider array of options (payment methods, supported countries, etc.), they also hold a large amount of risk since you’re buying from an anonymous individual. Prices can also differ significantly, as they are set by the sellers.
When examining an exchange you should take into account several factors:
- Fees – What are the deposit, withdrawal and transaction fees the exchange collects?
- Countries supported – Is the exchange supported in your country?
- Payment methods accepted – Does the exchange accept credit/debit cards, wire transfers or even PayPal?
- Exchange reputation – How long has the exchange been around? Is it transparent about its business?
- Level of verification needed – Is there a long verification process or can you buy Ethereum right away?
- Reliable support – How responsive is the exchange’s support? Can you chat with them in real-time or just email them?
Keep in mind that no exchange is perfect and usually an exchange will excel in one field and lag behind in another.
CEX.io is a Fincen registered Bitcoin and Ethereum broker that also provides a complete trading platform. The exchange accepts credit/debit cards, wire transfers, Swift, ACH, Faster Payments, Epay, Skrill, Advcash and SEPA transfers if you live in the Eurozone. The site has a very easy-to-use and intuitive interface that allows you to buy ETH relatively quickly. If you feel comfortable using the site’s trading platform instead of the brokerage service, you can save a lot in fees. You can read my full CEX.io review here.
Coinmama has been around since 2013 and supplies a brokerage service to both Bitcoin, Ethereum and a variety of other cryptocurrencies. The exchange will buy or sell Ethereum directly at a premium. They also put an emphasis on quality customer support. Coinmama accepts credit and debit cards, Apple/Google Pay, Skrill, wire transfer, SWIFT as well as SEPA transfers for Ethereum purchases. If you have the option to pay via SEPA you’ll decrease fees dramatically. You can read my full Coinmama review here.
Coinbase is one of the most popular methods for buying Ethereum. The exchange is one of the oldest around and has been active since 2012. Coinbase supports 100+ different countries including the US, Canada, UK, and New Zealand. Payment methods on Coinbase vary depending on your country of residence. For US residents, Coinbase accepts payment via ACH, debit card, wire transfer, Apple/Google Pay – as well as being one of the few exchanges that accepts PayPal.
Bitpanda is a Bitcoin broker that originally specialized in buying and selling Ethereum within the Eurozone, but have now started expanding, starting with the UAE. The company was founded in late 2014 and since has grown to become one of the more popular options to purchase Bitcoins around Europe. The company has many payment options and delivers coins to your wallet in a fast and secure manner. You can read my full Bitpanda review here.
eToro is a platform that allows the trading of several cryptocurrencies such as Ethereum, Bitcoin, Ripple, Bitcoin Cash, Dash and more. It is very well-suited for people who are looking to make money from changes in Ethereum’s price but not so much for people who want to actually hold their Ether in their own wallet.
The reason for that is that withdrawing your coins to your private wallet involves sending it first to your eToro wallet, which may take up to 3 days.
You can read my full eToro review here.
Keep in mind that cryptocurrencies can widely fluctuate in prices and are not appropriate for all investors. Trading cryptocurrencies is not supervised by any EU regulatory framework. So keep in mind that your capital is at risk. US users – CFDs are not available for US users. US users can only trade (long) real assets without leverage.
Bitstamp added the Ethereum trading pair in late 2017. The exchange has been around since 2011 and is one of the oldest and most respectable exchanges around. The platform supplies two main options for buying Ethereum – the trading platform and a brokerage service. The trading platform is cheaper but harder to use for inexperienced users, while the brokerage service is a more expensive “one click” solution. You can read my full Bitstamp review here.
Binance is a crypto-to-crypto and fiat-to-crypto trading platform that also supplies a brokerage service for buying cryptos with fiat currency. This means that you can either use your bank card or a bank deposit to buy Ethereum, or you can deposit any other supported cryptocurrency and exchange it for Ethereum. The fees for using the brokerage service are of course much higher than the 1% transaction fee the trading platform charges. You can read my full Binance review here.
Changelly was established in 2016 and within a year has managed to attract over 100,000 users, which is pretty impressive. The exchange allows you to trade one cryptocurrency for the other. If you own Bitcoin you can almost instantly trade it for Ethereum.
From personal experience, it takes around 30 minutes to get a coin traded from one type to another and the interface is very clean and intuitive. However, you may not want to use the exchange to buy Ethereum with fiat currency, since the fees are extremely high at around 5%. You can read my full Changelly review here.
LocalCryptos is a P2P marketplace where buyers and sellers of ETH can meet online and trade similar to LocalBitcoins. Although this platform gives a wide variety of payment methods it’s important to remember that you’re dealing with individuals and not corporations.
This means that the chance a deal can go wrong is higher and it’s important to take that into account. As a general rule, it’s best to keep this option for when all other options fail.
Paxful is one of the most popular P2P crypto marketplaces, supporting individual buyers and sellers with a massive range of payment methods. Users can offer anything from cash, bank card or bank transfers, to gift cards and more.
Similar to LocalCryptos, users should be aware of the risks associated with individual sellers and do their due diligence before transacting with users on the platform. You can read my full Paxful review here.
Whilst also being an established crypto exchange, Binance also offers a P2P marketplace similar to LocalCryptos. Binance P2P supports many payment methods including bank transfer, cash in person and various other digital payment methods.
Ever since Ethereum cemented itself as the second largest cryptocurrency, almost every crypto broker, exchange or p2p platform offers the token.
The main thing when choosing an exchange would be to make sure your country and preferred payment method are supported. For beginners it’s better to use brokerage services and pay a bit of a premium, while more advanced users should trade on trading platforms and save on fees.
If you have additional comments or questions, feel free to leave them in the comment section below.