Best Ethereum Exchange Reviews & Comparison
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 will go over the different Ethereum exchanges available and list the various things you need to consider before choosing an exchange.
Ethereum Exchange Guide Summary
In order to buy or sell Ethereum, you’ll need to find an exchange that supports Ethereum trading. Luckily, most do. 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 11 picks for the best Ethereum exchange by category:
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Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Take 2 mins to learn more If you want a detailed explanation of the different types of exchanges and to read summarized reviews of the various 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
- Conclusion
1. How Do I Buy Ethereum?
In order to buy Ethereum, you’ll need to:
- Find an Ethereum exchange like the Best DEX or broker like CEX.IO or Coinmama
- Open an account where required
- Deposit funds or send another cryptocurrency into the exchange
- Exchange your funds or trade your crypto for Ethereum
- Withdraw the Ethereum to your own wallet (optional but highly recommended)
2. Ethereum Exchange Types
Before you choose an Ethereum exchange, getting familiar with the different exchange types out there is important.
Trading platforms
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 they are also much more complicated than other options.
Examples of trading platforms are Binance, Coinbase Advanced Trade, and Kraken.
The Best DEX is one of the best trading platforms that offers a clean interface and no registration requirements. By using the platform, you also earn points that will convert into the platform’s native token $BEST in the future.
Brokers
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.
An example of a broker is Coinmama.
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.
An example of a P2P marketplace is LocalCoinSwap.
3. How to Choose an Ethereum Exchange
When examining an exchange, you should take into account several factors:
- Fees – What deposit, withdrawal, and transaction fees does the exchange collect?
- 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? What is the public perception of it?
- 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 only email them?
Keep in mind that no exchange is perfect. Usually, an exchange excels in one field and lags behind in another.
4. Best Ethereum Brokers
CEX.IO
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
Coinmama has been around since 2013 and supplies a brokerage service to 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 transfers, SWIFT, and 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
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, and Apple/Google Pay – as well as being one of the few exchanges that accept PayPal.
Coinbase can act as a broker through its direct and easy buying service, or you can use the Coinbase Advanced Trade exchange if you’re a more experienced user.
You can read my full Coinbase review here.
Bitpanda
Bitpanda is a cryptocurrency broker that originally specialized in buying and selling Ethereum within the Eurozone but has now started expanding, starting with the UAE. Founded in late 2014, the company has grown to become one of the more popular options to purchase cryptocurrency around Europe. It offers many payment options and delivers coins to your wallet quickly and securely.
You can read my full Bitpanda review here.
5. Best Ethereum Trading Platforms
Best DEX
Best DEX is a decentralized Ethereum exchange that allows seamless swaps across all cryptocurrencies built on Ethereum. No registration is needed, meaning you can simply connect your wallet and start swapping coins. This makes it an excellent option for beginners and seasoned traders who want to take advantage of the platform’s simplicity.
Aside from being incredibly useful, the Best DEX will also reward active users by airdropping its native $BEST token over the coming months. Token holders will benefit from lower trading costs, access to new projects, staking rewards, and governance.
eToro
eToro is a platform that allows the trading of several cryptocurrencies such as Ethereum, Bitcoin, Ripple (XRP), Bitcoin Cash, and more. It is very well-suited for people who are looking to make money from changes in Ethereum’s price (not available for US users) but not so much for people who actually want to 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.
Important:
Keep in mind that cryptocurrencies can widely fluctuate in price 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 can only trade (long) real assets without leverage.
Bitstamp
Bitstamp added the Ethereum trading pair in late 2017. The exchange has been around since 2011 and is among the oldest and most respectable. 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
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 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
Changelly was established in 2016 and quickly attracted tens of thousands of users. 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.
6. Best Ethereum P2P Marketplaces
LocalCoinSwap
LocalCoinSwap is a marketplace where buyers and sellers connect directly. When you use LocalCoinSwap, you’re dealing with an actual person, which means that the seller’s credibility is another thing to watch out for.
As for fees, sellers will usually charge a premium since they’re taking a big risk of buyer chargebacks. The upside is that you will usually get your bitcoins faster.
You can read my full LocalCoinSwap review here.
Paxful
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 to debit or credit cards, bank transfers, and even gift cards. They accept PayPal as well.
Similar to LocalCoinSwap, 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.
Binance P2P
Whilst also being an established crypto exchange, Binance also offers a P2P marketplace similar to LocalCoinSwap. Binance P2P supports many payment methods, including bank transfer, cash in-person, and other digital payment methods.
7. Conclusion
Ever since Ethereum cemented its position as the second-largest cryptocurrency, almost every crypto broker, exchange, or P2P platform offers the token.
When choosing an exchange, the main thing is to ensure your country and preferred payment method are supported. For beginners, it’s better to use a simple exchange like the Best DEX with low fees and rewards or a brokerage service (like Coinmama) and pay a bit of a premium. More advanced users should trade on trading platforms (like CEX.IO or Kraken) and save on fees.
If you have additional comments or questions, feel free to leave them in the comment section below.
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Hey there! Thank you for your article. It is very detailed review of best exchanges. But, IMO you’re missing something. I recommend you adding Swapzone to the list too. They are non-custodial exchange aggregators with instant services and 300+ coins onboard
Hi Saurav,
Well, adding Swapzone would detract from the usefulness of our own curated list but thanks for the suggestion.
Hey!!! Team. I have gone through the entire article which looks quite interesting. Here, you have clearly explained about the top ethereum exchange platform for traders in 2020. Thanks! for sharing this article with us. Keep up the good work. Are you a crypto enthusiast, planning to launch your crypto exchange platform for your crypto trading business? Check Osiz Technologies.
Most of these exchanges mentioned here have fake trading volume, don’t know if I should be happy or sad my alt ledu isn’t listed on it.
Hi Dembie,
Well, I don’t know where you got that information but I would question it. We usually see fake volume from small exchanges in countries where regulation of crypto exchanges is lax. For example, we saw a lot of fake volume from China before authorities there cracked down on it, and recently in South Korea the executives of an exchange were charged with fraud for faking volume.
I think it’s fairly unlikely that the large and established exchanges listed here would risk their reputation by faking volume.
Agree with you
The main thing is to approach the choice of the exchange
I stopped at CoinsBank
They organize and blockchain conferences, and there you can find partners and investors of your projects.
Recommend
There are a lot of platforms to exchange cryptocurrency at the present time. I’m staying with coinsbank. Working with them. Fast transactions, easy exchange place. I’m just waiting for your card.
**link removed**
I did not see in the review a changenow.io, in my opinion, this is one of the best services. There are no limits and registration, it is very convenient, besides, if you compare the reviews of truspilot, changenow has a higher rating compared to exchanges from this list.
Hi Gary,
Thanks for the suggestion. I’ve never used changenow.io so can’t directly comment on it. Looks to be an option worth investigating!