How to Buy Ethereum in the UK Quickly and Legally
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Why Buy Ethereum in the UK
Ethereum is a second-large cryptocurrency after Bitcoin. It is based on the Ethereum blockchain. Unlike Bitcoin, Ethereum is more than just money. This technology allows creating and running applications in the cloud, which is interesting for developers. It is attractive for many different industries, such as real estate, software developments, and others. This crypto coin comes at a lower price than Bitcoin. Virtually everyone can buy Ethereum in the UK on the Internet. It is possible to do that on a variety of exchanges.Recently, this crypto coin has been increasing in its price. Within the last 12 months, its price has increased by over 1,000%. This has drawn even more attention to this cryptocurrency from many investors. You will not have to wait for breaking news on EWN or another new platform to earn this crypto due to the rapid change in prices.
How to Buy Ethereum in the UK: Step-By-Step Guide?
You can purchase Ethereum on a range of exchanges online or in-person in cash. This depends on the conditions of a certain exchange you want to use. Since such transactions are regulated legally, you will need to provide some documents proving your identity and some other details, such as your address.
The verification procedure and the period it takes depend on the company providing cryptocurrency exchange services.
This is how to buy Ethereum on most exchanges:
- Pick a good exchange
- Register on the platform
- Verify your details
- Make a deposit to your account
- Buy some Ethereum
Where Can You Buy Ethereum with GPB?
Buying Ethereum is not a difficult procedure. However, it is essential to pick an ideal exchange that will provide you with the conditions you need. There is a set of criteria you need to consider when it comes to choosing the right options. They are listed below:
Buying Ethereum at Coinbase Pro
This exchange offers everything for professional trading, including an abundance of different features. If you are planning on trading high volume, you will be able to benefit from low fees.
Before you can make your transaction, you will need to become a registered user on this platform. By clicking on the Sign Up button, you will open the registration form. You will fill it out and submit it. Then, you will need to undergo a verification procedure to prove your identity. Right after that, you can make the desired transaction.
This is how to buy Ethereum in the UK, using a site version:
- Navigate to the Buy/Sell page
- Choose Ethereum from the list of options available for you
- Enter the amount of the cryptocurrency you wish to purchase
- Select the payment method you prefer
- Confirm your transaction
If you prefer to use a mobile version, you can do this in the following way:
- Download the app on your device
- Tap the menu icon to open the Navbar
- Choose the Buy transaction
- Select the Ethereum currency
- Enter the amount of cryptocurrency you wish to purchase
- Select the payment method you wish to use
- Tap the Buy button to complete the transaction
Generally, it is quick and easy to purchase Ethereum using both variants.
Buying Ethereum at CoinJar
CoinJar is a reputable crypto exchange used by more than 400,000 users. Due to its simplicity, it is suitable for beginners. It can be used on various devices, including those powered by Android and iOS. The platform has been around since 2013; so, it has been tested over time. There is a video on how to use this platform, which you can watch on its official site.
According to the information on the official website, it is possible to take three simple steps to purchase Ethereum on this platform:
Set up your account
Find the Sign Up button in the top section of the platform’s website and click on it. This action will open a registration form that you will need to fill out with the required information.
Make a deposit
You need to transfer some money into your account, which you will later use to make your purchase. It is possible to use fiat money or another cryptocurrency. Also, people can use credit and debit cards for instant transactions.
Now, you can purchase Ethereum by clicking on the buy ETH button. The information you will need to specify is the amount of your transaction. You can store your funds on this platform or transfer them to another wallet. Please note that you will also need to undergo the verification procedure before you can make your transactions on this platform.
Buying Ethereum at Crypto.com
Crytpo.com allows purchasing Ethereum on its site or in mobile applications. This service is used by more than 10 million people. This is where you can purchase over 100 crypto coins. There is also Crypto.com Defi Wallet that you can take advantage of.
Here is how to buy Ethereum on this platform:
Register your account
You can either undergo the registration procedure on the website of this platform or in the application. In the latter case, you will need to download it first. It is possible to find versions compatible with Android and iOS devices. The information you will need to provide includes your name, email address, and password.
Send your documents for verification
Now, you will need to send documents to prove that you have provided authentic information during the registration procedure. They may include your ID, your password, and other documents.
Add some funds to your account
Add some money to your account to purchase Ethereum. Remember that you will need to deposit enough money to be able to purchase as many crypto coins as you need.
Once you have some money in your account, you can purchase Ethereum. Since there are many different cryptocurrencies that you can purchase on this exchange, you will need to pick the one you need. Then, specify the amount of your transaction and complete your payment.
Buying Ethereum at Binance
Binance is one of the most popular exchanges, which allows getting access to over 500 different assets. It charges relatively low fees and comes with tough security tools.
Here is how to buy Ethereum coins on the Binance platform:
Set up your account
You can create your account in a few minutes. Open the Registration form by clicking on the Register button. Then, enter the required details and complete the transaction.
Verify your details
Some information provided in your profile must be verified. You can do this by providing some documents proving your identity. It can be your driving license, for instance.
Make an initial payment
You need to add some funds to your account. This is what you will use for making your purchase. Simply pick from the variety of payment methods available on the platform.
To purchase Ethereum, you will need to pick this cryptocurrency from the list of available options, specify the amount you wish to buy, and then complete your transaction.
Buying Ethereum at LocalCryptos
It is a P2P marketplace that allows selling and buying various crypto coins, such as Ethereum. It allows people to buy and sell their assets based on their agreement.
If you are interested in buying Ethereum on this platform, do the following:
Set up an account
Become a registered user of this platform first. Click on the Create an Account button and then fill out the registration form.
Check who is selling Ethereum
Once your account has been created, you can check out the available trades. Find a person who offers you to purchase Ethereum at the conditions you like.
Open a trade
Opening a trade is like making an offer to the seller. You will see essential information about the offer as well as the other party. You should open trade only after you make sure the conditions are suitable for you.
Complete the transaction
Now, you can complete the transaction based on the conditions of the trade.
Buying Ethereum with a Credit Card
Many users want to buy Ethereum with a credit card or other quick methods, such as a bank transfer. The thing is that such transactions are conducted instantly and easily since users are not obligated to undergo any sign-up or verification procedures. That is because it is easy to identify the buyer if there is a need for this. Sometimes, fees for some transactions may be higher, though. More and more exchanges started to provide this service, such as Binance; so, it will not be difficult to find a platform allowing making transactions instantly.
Where Can You Store Your Funds after Buying Ethereum
There is a range of wallets you can use for storing your assets after you buy Ethereum with GPB. There are those in the form of application or web-based versions or devices. It is up to you which one you wish to choose based on the requirements for security, speed of access, price, and other factors.
Some of the top options that you can consider after buying Ethereum include the following:
- Ledger Nano S
Mobile and/or desktop wallets:
- Atomic Wallet
Legislation to Know before Buying Ethereum
You can buy Ethereum in the UK only for legal purposes. That is controlled by the Financial Conduct Authority (FCA). Since cryptocurrencies do not have any centralized control, they may be used for unlawful purposes, such as money laundering. Such actions are prohibited by law. That is one of the reasons buyers are required to prove their identity to be able to get access to transactions with crypto coins. As long as you buy Ethereum in the UK for legal purposes, you have nothing to worry about.