How to Buy ETH on Cryptocurrency Exchanges
As one of the most foundational coins in the crypto market, Ethereum (ETH) is supported for trading on numerous centralized exchanges (CEX). This method remains popular among traders and investors looking to buy or sell ETH.
Pros and Cons of Buying ETH on Exchanges
Advantages:
- High liquidity and competitive pricing
- Supports multiple trading pairs (ETH/USDT, ETH/BUSD, etc.)
- Advanced trading tools (spot, margin, futures)
Disadvantages:
- Requires KYC verification
- Potential security risks (hacking, phishing)
👉 Discover the best ETH trading platforms
How to Choose an ETH Exchange
Step 1: Identify ETH-Supported Exchanges
Use platforms like CoinGecko or CoinMarketCap to find exchanges listing ETH trading pairs. Top options include:
- Binance
- Coinbase
- Kraken
- OKX
Step 2: Evaluate Exchange Criteria
Prioritize exchanges based on:
- Trading volume
- Security features (2FA, cold storage)
- Supported fiat deposit methods
Buying ETH with Fiat on Binance P2P
Binance P2P allows peer-to-peer ETH purchases using local currency (e.g., VND, USD).
Procedure:
- Create a verified Binance account
- Navigate to P2P Trading
- Select ETH → Filter by payment method → Choose a seller
- Enter ETH amount → Confirm transaction
Tip: Check seller reputation and completion rate before trading.
Buying ETH on Binance Spot Market
For users holding crypto (USDT, BUSD):
- Go to "Trade" → "Spot"
- Search for ETH trading pairs (ETH/USDT recommended)
- Enter order type (market/limit) → Execute trade
Buying and Holding ETH in Crypto Wallets
Wallet vs Exchange: Key Differences
| Feature | Wallets (e.g., MetaMask) | Exchanges (e.g., Binance) |
|------------------|--------------------------|---------------------------|
| Control | Full private key ownership | Custodial (exchange holds keys) |
| Fees | Gas fees apply | Trading/withdrawal fees |
| Security | Higher (self-custody) | Depends on exchange |
Step-by-Step: Buying ETH on Coin98 Wallet
- Download Coin98 Super App
- Create a multi-chain wallet (backup seed phrase!)
- Use "Swap" feature: Select ETH/BNB pair for lower fees
- Confirm transaction (check gas fees!)
👉 Secure your ETH with top-tier wallets
Purchasing ETH with Credit Cards
MoonPay on Coin98 Wallet
- Select "Buy Crypto" → Choose ETH
- Enter USD amount → Input wallet address
- Verify identity (KYC) → Complete card payment
Binance Credit Card Purchase
- Navigate to "Buy Crypto" → Credit/Debit Card
- Select ETH → Enter fiat amount
- Add card details → Process payment
Note: Card purchases may incur 3-5% processing fees.
FAQ: Buying Ethereum
1. What’s the cheapest way to buy ETH?
P2P trading typically offers lower fees than credit card purchases. Using BEP-20 (BNB Chain) for transfers also reduces costs.
2. How long does an ETH transfer take?
- Exchange withdrawals: 2-30 mins
- Blockchain confirmations: ~1-5 mins (ERC-20)
3. Can I buy ETH without KYC?
Yes, via decentralized exchanges (DEXs) like Uniswap or non-KYC P2P platforms.
4. Is storing ETH on exchanges safe?
For active trading, yes. For long-term holding, use hardware wallets (Ledger/Trezor).
Key Takeaways
- Exchanges offer liquidity but require trust in the platform.
- Wallets provide security but involve managing private keys.
- Credit cards are convenient but costlier due to fees.
Always DYOR (Do Your Own Research) before transacting!