The 5 Best Ethereum Exchanges Available In 2024

Ethereum has long challenged Bitcoin for the title of the world’s most popular cryptocurrency, not least for delivering speedier, innovative and smart transactions.

Owing to its block size limit of 1MB, Bitcoin’s transaction speed is slower than Ethereum’s. This restricts the pace of transactions that can be processed. Bitcoin transactions may take up to ten minutes to be confirmed, while Ethereum transactions are typically confirmed in under a minute.

Consequently, Ethereum is consistently proving highly popular among the crypto community, and with this in mind, we have compiled a list of the best Ethereum exchanges available in 2024.

The Best Ethereum Trading Platforms in 2024

Below is our top-five list of Ethereum trading platforms with a brief summary of the capabilities and features of each.

eToro: Our chosen favorite, eToro offers more than 5,000 assets, reassuringly low fees in a transparent fee structure, ready-made smart portfolios and, crucially, intuitive and easy-to-use platforms
Kraken: Kraken has comparatively high levels of security and we observed relatively low Bitcoin withdrawal fees and quick and helpful customer service. The exchange has sophisticated features including margin trading.
Coinbase: Coinbase offers more than 100 cryptocurrencies through which to trade. Again, reassuringly, it has a simple user interface and a low account minimum. It enables you to earn rewards while learning about cryptocurrency.
Binance: Binance supports many of the most commonly traded cryptocurrencies and provides a crypto wallet for traders to store their electronic funds.
OKX: Crypto traders appreciate OKX’s diverse system of structured products catering for traders with a variety of risk appetites

A Closer Look at the Best Place to Buy Ethereum in 2024

The best place to buy Ethereum depends largely on your level of experience. Here we examine our top five chosen Ethereum exchanges.

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1. eToro: The Best ETH Exchange for Most People

The best Ethereum exchange for 2024 according to our analysis is eToro. It is worth considering for anyone new to investing, as well as for seasoned investors.

In addition to finding it to be one of the best Ethereum exchanges for beginners, we also appreciated the simplicity with which eToro enables users to buy and sell a selection of assets, among them cryptocurrencies.

The eToro exchange is a multi-asset investment platform that provides users with the option to invest in crypto assets, ETFs and stocks all from the one platform. It also offers various extra functions.

Depending on the level of use you plan to make from the exchange, eToro could also be a good starting point for Ethereum investors, not least because they will not be charged on the stocks and ETFs they buy and sell. Furthermore, the eToro exchange does not depend on income from share investing feel, but from charges such as its flat $5 withdrawal fee, inactivity fees and crypto investing fees.

As well as providing built-in educational resources, eToro also delivers a newsfeed and other social features enabling users to share their experience and offer best practice guidance. eToro’s social trading functionality allows interaction between traders, allows them to follow experienced traders and even to copy their trades automatically.

Number of cryptos	70+
Fiat deposit fees	N/A
Fee to buy Ethereum	1% commission
Proprietary wallet?	Yes – iOS, Android, desktop

Pros

Best-in-class proprietary wallet
Most popular crypto platform in the industry
Market-leading educational resources

Cons:

Relatively small selection of cryptocurrencies

Buy Ethereum with eToro

2. Kraken: A Sophisticated and Safe Ethereum Exchange

When we put US-based cryptocurrency exchange Kraken to the test, we appreciated its reputation for being among the best few places to buy crypto online, owing to its high level of customer service, flexible funding options, low fees and high security standards.

Its services include margin trading, futures trading and staking. It provides multiple wallets including hardware wallets including one such as Ledger and Trezor.

The exchange provides information on how to buy and sell a wide range of cryptocurrencies, as well as explaining the theory and origin of different coins.

The over-the-counter cryptocurrency trading platform offers Ether, Bitcoin and other crypto currencies, as well as fiat currencies that include US and Canadian dollars, sterling, euros and Japanese yen.

Kraken offers a competitive and investor-friendly fee structure that rewards traders the more they use the platform. It also makes it easy for users to trade on the move as it includes a mobile app for iOS and android devices.

Kraken’s website is highly responsive, easy to navigate and provides intuitive access to critical information. Transactions are encrypted to prevent unauthorized access.

Number of cryptos	200+
Fiat deposit fees	N/A
Fee to buy Ethereum	0.26% commission
Proprietary wallet?	No

Pros

Offers margin trading accounts
Good range of educational resources
Low fees

Cons:

Fees charged every four hours to keep leveraged trades open
No native wallet offered

Buy Ethereum with Kraken

3. Coinbase: Easy to Use, With Low Minimums and a Native Debit Card

For beginners, we found Coinbase to be just about as a good place to start investing in Ethereum in 2024. On trying it out we could understand how, since its formation 12 years ago, it has become the largest cryptocurrency exchange in the U.S. by trading volume, with more than 73m verified users in over 100 countries.

We liked its core feature, which is the ability to buy, sell and trade more than 100 different cryptocurrencies and crypto tokens. While Coinbase’s transaction and trading fees are higher than some of its competitors, it is still among the most popular applications for cryptocurrency investing.

We were encouraged to find that the exchange’s offering includes Coinbase Card, a Visa debit card that allows users to spend their cryptocurrency at any merchant that accepts Visa and earn up to 4% back in crypto rewards on each purchase.

Coinbase has one of the lowest minimum balance requirements among crypto exchanges, making it an attractive choice for new investors. Its eponymous Coinbase Earn feature allows users to watch short educational videos and earn free crypto assets.

Users can trade on multiple platforms with this exchange. The original platform, Coinbase, is an intuitive interface enabling users to buy cryptocurrency with U.S. dollars. Coinbase Advanced Trade has additional charting functions and users can make crypto-to-crypto transactions as well as placing market, limit and stop orders.

The exchange also has an option, Coinbase One, which offers no-fee trades as well as other benefits for a monthly fee.

Number of cryptos	150+
Fiat deposit fees	None for local bank transfer. 3.99% for debit/credit card or PayPal
Fee to buy Ethereum	1.49% commission
Proprietary wallet?	Yes – iOS and Android

Pros

No fees for local bank transfers
High-quality proprietary wallet
One of the lowest minimum balance requirements on the market

Cons:

Hefty charge when buying Ethereum with card or PayPal
25% fee when unstaking Ethereum

Buy Ethereum with Coinbase

4. Binance: P2P Trading and a Built-In Coin Wallet

We were pleased to find that as an Ethereum exchange, Binance provides significant beneficial trading features that include P2P trading, margin trading and stop-limit and market orders. The exchange also allows users to donate their cryptocurrency to various charities.

Offering among the most competitive fees, Binance supports a high proportion of the most commonly traded cryptocurrencies and, like other exchanges, provides a crypto-wallet for traders to store their electronic funds. Binance also offers supporting services that enable users to earn interest or transact using cryptocurrencies.

Confident of its own high-level security, Binance has a $1 billion insurance fund, Secure Asset Fund for Users (SAFU), from which it will reimburse users for loss in the event the exchange crashes or a hacker steals assets or funds.

Binance also provides a peer-to-peer (P2P) trading service. This directly connects buyers and sellers of cryptocurrency and enables fiat payments, offering a variety of payment options. The Ethereum exchange allows users to buy crypto directly with various currencies using SEPA and bank transfers and such deposits involve no transaction fee.

Users may also choose between a beginner-friendly interface or an advanced option catering for spot trading.

Number of cryptos	400+
Fiat deposit fees	Varies depending on type of investment, jurisdiction etc
Fee to buy Ethereum	0.1% commission
Proprietary wallet?	Yes – iOS and Android

Pros

Huge range of cryptoassets to choose from
Minimal commission fees
The largest Ethereum exchange by market volume

Cons:

Recent money laundering controversy

5. OKX: Great Features, Including Demo Accounts and Trading Bots

Although OKX is currently the world’s second-largest crypto derivatives trading exchange by volume, its own CEO Star Xu says that OKX was never intended as the most aggressive listing exchange in the industry, but rather to be as transparent and dependent on technology.

The exchange, which offers more than 350 tradeable cryptocurrencies, charges relatively low trading fees for both spot and futures trades and it facilitates copy trading, enabling investors to follow profitable traders.

The platform offered us various ways to get started, giving access for new users to a demo account which can be used to make spot trades. It also helps users out with international time zones by allowing experimentation with trading bots that can trade on an investor’s behalf around the clock.

Number of cryptos	350+
Fiat deposit fees	2.49% for debit/credit card payments
Fee to buy Ethereum	0.1% commission
Proprietary wallet?	Yes – Desktop, mobile, browser extension

Pros

Competitive buying fees
Popular in-built crypto wallet
Wide range of coins to choose from

Cons:

Relatively high deposit fees

The Basics of Ethereum

Ethereum may sound like an enticing investment based on its popularity and reputation, but many would likely stumble in explaining what it actually is and how it works.

Here is a brief rundown of all the fundamentals of Ethereum.

What is Ethereum?

Ethereum functions as a decentralized blockchain platform, forming a peer-to-peer network for executing and validating application code, known as smart contracts.

It is a system built on blockchain technology that operates without a central authority or intermediary. On such platforms, data is stored across a network of computers, or nodes, and transactions are verified and recorded through a consensus mechanism agreed upon by the network participants. These smart contracts enable participants to engage in transactions without relying on a central authority.

Transaction data is immutable, verifiable, and distributed securely across the network, granting participants complete ownership and transparency. Users operate Ethereum through self-created accounts, with transaction initiation requiring signature authentication and the expenditure of Ether, Ethereum’s native cryptocurrency, to cover processing costs.

Is Ethereum a Good Investment?

Whether Ethereum (or any other cryptocurrency or asset) is a good investment depends on a variety of factors including your financial situation, investment goals, risk tolerance and market conditions.

Ethereum price predictions can be mouth-watering, with it being predicted to hit $1377 by the end of this year. Ethereum can therefore offer sizable returns.

However, like other cryptocurrencies, Ethereum is also known for its price volatility, which can present both opportunities and risks for investors. Some people believe in the long-term potential of Ethereum due to its utility in smart contracts, decentralized applications (DApps), and its role in the broader blockchain ecosystem.

However, it’s crucial to remember that investing in cryptocurrencies carries inherent risks, including regulatory uncertainty, technological vulnerabilities, and market fluctuations.

Safety Tips for Buying Ethereum

Research and Education: Take the time to understand what Ethereum is, how it works, and its potential risks and benefits.
Choose a Reputable Exchange: Select a reputable and trustworthy cryptocurrency exchange to buy Ethereum.
Security Measures: Ensure that the exchange you choose implements security measures such as two-factor authentication (2FA), encryption, and cold storage for storing funds.
Beware of Phishing and Scams: Be cautious of phishing attempts and fraudulent schemes.
Use Secure Wallets: Consider using a hardware wallet or a reputable software wallet to store your Ethereum securely.
Diversification: Avoid putting all your investment funds into a single asset.
Risk Management: Only invest money that you can afford to lose. Cryptocurrency markets are highly volatile, and prices can fluctuate significantly in a short period.
Stay Informed: Stay informed about market trends, regulatory developments, and security threats related to Ethereum and the broader cryptocurrency industry.
Regularly Monitor Your Investments: Regularly monitor your Ethereum investments and be prepared to adjust your strategy based on changing market conditions and your investment goals.
Seek Professional Advice: Consider seeking advice from a financial advisor or investment professional.

How to Buy Ethereum in 2024?

In order to buy Ethereum in 2024, investors are advised to conduct thorough research and choose a reputable exchange with strong security measures and a user-friendly interface.

Additionally, consider factors such as fees, supported payment methods, and customer support when selecting an exchange. Always exercise caution and verify the legitimacy of any platform before depositing funds or making transactions.

With these factors in mind, we recommend eToro, a platform that not only supports Ethereum, but boasts all of the functionality and features mentioned above.

With your exchange chosen, complete the following steps to invest in Ethereum.

Step 1: Create an account and verify your email address

Step 2: Deposit funds into your account using a supported payment method

Step 3: Search for the Ethereum ticker and specify the amount you want to buy

Step 4: Review your transaction and place a buy order

Buy Ethereum with eToro

How to Find the Best ETH Exchange for You

Your decision as to the best Ethereum exchange will depend on a variety of factors including your location and experience as well as your approach to fees.

1. Features

When selecting an Ethereum exchange, it’s essential to consider several features to ensure the platform meets your trading needs and provides a secure environment. These include:

Trading Tools and Features: Look for exchanges that offer advanced trading tools such as charting tools, technical analysis indicators, order types (market, limit, stop-loss, etc.), and customizable trading dashboards to cater to different trading strategies and preferences.
Supported Trading Pairs: Ensure that the exchange supports the Ethereum trading pairs you’re interested in. Besides ETH/fiat pairs, look for a variety of ETH/crypto pairs to diversify your trading options.
Customer Support: Reliable customer support is crucial for resolving issues promptly and addressing inquiries or concerns.
Ease of use: Our Ethereum exchange of choice, eToro, has a well-earned reputation for being straightforward to use by novice investors entering the crypto world for the first time.

2. Fees

When choosing an Ethereum exchange, it is important to consider various fees that may apply. These fees can significantly impact your trading or investment returns. For example, our chosen favorite, eToro, offers low and transparent fees.

Here are some key considerations when it comes to understanding the fees on your chosen exchange.

Trading Fees: Most exchanges charge a fee for executing trades. This fee is usually a percentage of the total trade amount or a fixed amount per trade.
Deposit and Withdrawal Fees: Some exchanges may charge fees for depositing or withdrawing Ethereum or other cryptocurrencies.
Exchange Rate Spreads: Exchange rate spreads refer to the difference between the buying and selling prices of Ethereum on an exchange.
Withdrawal Limits and Fees: Exchanges often impose withdrawal limits and may charge additional fees for withdrawals above certain thresholds.
Margin Trading Fees: If the exchange offers margin trading, there may be additional fees associated with borrowing funds or leveraging your trades.
Inactivity Fees: Some exchanges may charge fees for accounts that remain inactive for a certain period of time.
Subscription or Membership Fees: Certain exchanges offer premium services or membership tiers that come with additional features or lower fees.
Security and Insurance Fees: While not directly related to trading, some exchanges may charge fees for additional security measures or insurance to protect user funds.

3. Security and Regulation

As with fees and features, security should be a top priority for prospective crypto investors. Look for exchanges that implement robust security measures, such as:

Cold Storage: This keeps the majority of cryptocurrencies offline, away from potential hackers.
Two-Factor Authentication (2FA): Enabling 2FA adds an extra layer of security to user accounts by requiring a second form of verification, typically a temporary code sent to a mobile device or generated by an authenticator app.
Secure Sockets Layer (SSL): SSL encryption ensures that communication between your browser and the exchange’s servers remains private and secure, protecting against man-in-the-middle attacks.
DDoS Protection: Distributed Denial of Service (DDoS) attacks can disrupt exchange operations by overwhelming servers with traffic. Robust DDoS protection mechanisms are crucial for ensuring the availability of the exchange platform.
Regulatory Compliance: Local jurisdiction compliance Choose exchanges that comply with relevant regulations and adhere to best practices for Know Your Customer (KYC) and Anti-Money Laundering (AML) procedures. Regulatory compliance helps protect users and fosters trust in the platform.
Licensing requirements: You should ensure the exchanges comply with licensing requirements in your jurisdiction.
Data protection regulations: This includes safeguarding users’ personal information
Securities Regulations: In some cases, tokens traded on Ethereum exchanges may be classified as securities, subjecting the exchange to securities regulations.

Our Verdict on the Best Ethereum Exchanges Available in 2024

From the web of available Ethereum platforms we have chosen our top five, catering to ease of use for beginners, depth of functionality for the sophisticated user and, of course, the all-important fee-structure. In summary, we found that eToro comes out on top by offering an unambiguously transparent fee structure along with reassuringly low fees.

The other four contenders – CoinBase, Kraken, Binance and OKX – all presented us with degrees of excellence in these fields of criteria. However, eToro came out as our favorite as an all-rounder and a dependable platform from which to trade cryptocurrency. It offers the benefits of a multi-asset investment platform providing users with the option to invest in crypto assets, ETFs and stocks without having to switch platforms. It also offers various extra functions.

Ranked as the best Ethereum exchange for beginners, eToro’s built-in educational resources, along with its news feed and other social features enabling users to share their experience help give this exchange the lead. eToro’s social trading functionality allows interaction between traders, enabling them to follow experienced traders and even to copy their trades automatically.

What Platform is Best for Ethereum?

While the best Ethereum exchange may vary depending on each individual’s preferences and intentions, we found that eToro offered the most well-rounded service for trading Ethereum, in addition to other cryptocurrencies and securities.

Which is the Safest Crypto Exchange?

All of the exchanges we reviewed offered great safety features and regulation. However, with a wide range of educational resources also on offer, eToro is a great option for anyone prioritizing safety on their crypto investment journey.

What is the Largest Exchange for Ethereum?

With more than $18bn dollars in 24-hour trade volume, Binance is by far the biggest cryptocurrency exchange on the market, beating its closest competitor by nearly 100%.