Ethereum is one of the most growing cryptocurrencies in the recent times. And if you’re looking forward to investing in the world’s first peer-to-peer computing network, then you’re not the only one. Anyone who understands the technology behind Ethereum and the disruption it may bring in the future, wants to invest or has already invested in it.
As you can invest in real currencies by trading in them, you can do that with Ethereum too by buying and selling it when the prices go high. But the question is, where can one buy or sell ETH (aka ether). Well, here’s where cryptocurrency exchange comes into play. To help you get started super easily, I’m listing below the best Ethereum exchange services.
Note: As I’ve mentioned a lot of ticker symbols in this article, I’ve created a table below to help you know the currency pertaining to their respective ticker symbols.
Coinbase is the most popular digital exchange — you can easily buy and sell popular cryptocurrencies such as Bitcoin, Ethereum, and Litecoin using your local currency. The platform is intended for beginners and miners who’re looking to buy or sell digital assets. I must tell you that it isn’t a professional trading platform unlike some of the options I’ll mention below.
The exchange implements possible security mechanisms to maintain customer security like two-factor authentication, multisig wallet/vault, etc. Coinbase also features a vault which, per Coinbase, enhances security as assets are stored in offline storage, requires multiple approvals for withdrawals, and gives the user more control of his/her funds.
- High limits.
- Easy for new users.
- Instant Buy possible with debit/credit cards.
- Bank transfer purchases may be slow.
- It may track your purchases.
Supports: ETH/USD, ETH/EUR, and more | Trading Fees: Click here
Poloniex is a digital asset exchange that lets you trade securely with the advanced trading processes. The platform allows exchanging any of your virtual assets that are stored offline in a cold storage, thus minimizing the risk of hacks without compromising trading.
It keeps your funds stored only for you and doesn’t operate on fractional reserves like the banks do. That means, you can always sell or withdraw all of your funds without quantity issues. If I talk about stability, Poloniex monitors all activities round-the-clock and if any suspicious activity is found, then it puts an active block before matters get out of hand.
- High liquidity.
- May not be easy for new users.
- Margin trading is available.
- Poor support.
- Had been hacked once in 2014.
Supports: USD/ETH, BTC/ETH, ETC/ETH, ZEC/ETH, GNT/ETH, REP/ETH, GNO/ETH, STEEM/ETH, and LSK/ETH | Trading fees: Click here
GDAX is the professional trading platform from the Coinbase team, which enables you to trade in a variety of currencies on a regulated US-based exchange. I most-liked its real-time charting tools, but it offers more features including trade history and a simplistic process to create orders so that anyone can buy or sell coins.
Interestingly, GDAX charges 0% maker fees and the digital assets held in online storage are fully insured. Moreover, GDAX offers volume-based discounts on all taker fees, which can go as low as 0.1%. For security, the exchange stores 99% of the customer’s assets offline, undergoes regular audits and ensures all of its USD balance by FDIC insurance.
- Lowest fees.
- Possible to buy ethers with almost 0% fees.
- Hard for new users.
- It may track your spendings and may block if questionable transfers are made.
Supports: ETH/BTC, ETH/USD, and ETH/EUR | Trading fees: Click here
Bitfenix is an advanced exchange platform that offers up to 3.3X leveraged margin while trading through peer-to-peer funding market. What I find more amazing is the fact that liquidity providers can earn interest by providing funding to traders. It offers a number of order types to traders, thus allowing them to trade intelligently per market conditions.
Using its advanced graphing tools, you can even visualize your orders, positions, and price alerts on the screen. Bitfinex provides top-notch security to its customers by storing and concealing their user information as well as funds. Like above exchanges, Bitfinex too keeps your funds (approx. 99.5%) in cold storage to protect from online attacks.
- Unlimited withdrawal.
- Various payment options.
- Anonymity and privacy is possible.
- Had been hacked once in 2016
- User interface may seem hard to new users.
Supports: ETH/BTC and ETH/USD | Trading fees: Click here
Kraken, a well-known exchange, is built for professional traders who trade in cryptocurrencies on daily basis. It can be, however, be equally useful for casual traders as well. Kraken offers a fast and fluid trading engine with advanced order types, and allows margin trading so that you can leverage long or short market positions.
The exchange offers margin trading up to 5X and offers to automate your trading strategy with advanced order types along with other tools. Kraken, like others, undergoes regular audits and understands the need of digital security. That’s why it stores your crypto coins in an encrypted cold storage to prevent hacks and thefts by any means.
- Low taker and maker fees.
- High liquidity and security of assets.
- Posts proof of stored assets.
- Hard for new users.
- It is not private as it requires an identity card.
Supports: ETH/CAD, ETH/EUR, ETH/GBP, EOS/ETH, ETH/XBT, ETC/ETH, ETH/JPY, ETH/USD, GNO/ETH, ICN/ETH, MLN/ETH, and REP/ETH | Trading fees: Click here
Bittrex is a large trading platform that offers a premium experience to users and supports trading between 190+ digital currencies. Based in the USA, this platform is built for traders who need lightning fast trades. That’s not all, like few exchanges, Bittrex supports algorithmic trading using third-party and custom yet secure trading bots.
With its intuitive interface, anyone can enjoy buying and selling coins as easily as possible and using its secure APIs, advanced traders can use algorithmic bots to automate trading. Bittrex offers top-notch security to its customers by following industry standard practices including cold storage, two-factor authentication for withdrawals and more.
- Fast verification procedure.
- Good support and security.
- No margin trading.
- Liquidity may be low sometimes.
CEX.IO is a trusted exchange that makes trading easy and reliable at the same time. Its advanced order-matching algorithms are backed by a unique trade engine that helps maintain maximum liquidity. And the orderbook liquidity allows implementing high-volume orders, high-frequency trading, and scalping techniques — for pro traders.
CEX.IO supports cross-platform trading like few others and provides real-time balance, transaction history and more info directly in your dashboard. The exchange also ensures the safety of your assets using high security standards including cold storage, two-factor authentication, full data encryption, DDoS protection and more.
- Availability in numerous countries.
- Low 0.2% trading fee.
- Its verification is rigorous and may take time.
- Some of its markets have low liquidity.
Supports: ETH/BTC, ETH/USD, ETH/EUR, and ETH/GBP | Trading fees: Click here
CHBTC is a professional digital asset trading platform based in China. It makes trading easier with its premium customer support that helps beginners to get started. Moreover, CHBTC backs trading on commission and offers crypto vs. fiat currency trading in Chinese Yuan (CNY), unlike many other exchanges.
This exchange works with multi-tech security strategy to protect your crypto assets and other data. Its strategies include cold storage, multi-signature wallets, and various other security schemes. I must say this exchange is built with security in mind because multisig wallets are presently uncommon in exchanges, and this exchange is already supporting it.
- Fast deposits and withdrawals.
- Robust multi-level security.
- Available in China only.
- Its interface may be hard for new users.
Supports: ETH/CNY | Trading fees: Click here
Bter is again a digital currency exchange platform based in China that supports multiple cryptocurrencies along with Chinese Yuan (CNY). It supports fast deposits and instant withdrawals with low fee — an interesting feature for many of us. Though the exchange doesn’t support advanced order types yet it’s featureful enough for beginners to use.
Though it embraces cold storage and other security measures like two-factor authentication, yet I’ll suggest you not to keep a high amount of funds in this exchange as it has faced hacks in the past — even at its cold storage. However, despite having some security breaches in the past, Bter has managed to reopen its markets successfully.
- Low 0.1% withdrawal fee.
- Low 0.1% trading fee.
- Slow support.
- Available in China only.
- It was once breached in 2015.
Supports: ETH/BTC, ETH/CNY, EOS/ETH, SNT/ETH, ICO/ETH, ETC/ETH, OMG/ETH, PAY/ETH, QTUM/ETH, and BAT/ETH | Trading fees: Click here
YoBit is an efficient exchange that supports multiple digital currencies. The platform, in its simple yet intuitive interface, displays the market rates and trade volumes. This exchange, however, doesn’t offer advanced order types, trading graphs, and tools, so I don’t recommend YoBit if you’re a pro trader.
YoBit displays a full page of trade history and buy/sell orders that requires no scrolling, and supports instant cryptocurrency deposit and withdrawal. I must tell you that its interface is hard to get vital info, like FAQs or information on its APIs (yes, YoBit does feature APIs). For the same reason, I also couldn’t find subsequent info on its security measures.
- User-friendly interface for new users.
- Yobi codes for deposit security.
- No margin trading.
- Slow support.
Supports: ETH/BTC | Trading fees: 0.2%
Sum and substance
There won’t be a shortage of Ethereum exchanges anytime near in the future, and the number will only grow if you ask me. But if you want to try out the best exchange and enjoy a smooth trading experience, then above exchanges are what you’ve got.
My advice is to first check if the cryptocurrency exchange you choose supports your country and its fiat currency (USD, CNY, etc.). Moreover, I’ll also suggest you not to store all of your crypto funds in one or more exchanges, rather keep them in your personal wallet stored on a secured computer — or a paper wallet for the best.
Do you think it’s the best time to invest in Ethereum? Have you? Let me know your thoughts using the comments section.