How to Buy Ethereum (ETH) in Australia 2023? – Beginner’s Guide

Investing in cryptocurrencies is a practice that has been increasing in recent years. Ethereum is one of the most prominent in the market. You can buy this type of investment from some brokers.

In this guide, we explain how to buy Ethereum in Australia. In our guide, we explain the investment procedure step by step and delve into the future of this popular digital currency.

How to Buy Ethereum in Australia – Step by Step Guide 2023

Suppose you are wondering where to buy Ethereum in Australia. Below in this guide, we explain the best way to buy and the best places in Australia to do it.

1. eToro: Overall Best Trading Platform to Buy Ethereum

eToro offers both CFD and online trading from a regulated platform. Around the planet, there are more than 13 million users on the platform. If this is your first time buying Ethereum, eToro is an excellent alternative as it is very easy to use.

The sign-up process takes no more than 10 minutes, and you can fund your own account and invest. eToro has an extensive range of assets, including several investment categories.

Ethereum, for example, is one of the 16 cryptocurrencies they support on the platform. Coins can be exchanged for multiple fiat currencies. Also, shares can be purchased on 17 different exchanges, and you can trade-in companies in the United States, United Kingdom, among other countries. The selection of ETFs at eToro is superb.

eToro is also famous for its commission-free service, which makes it extremely user-friendly. In other words, you won’t have to spend money on brokerage fees to buy Ethereum in Australia. Moreover, there are no fees associated with holding your account, so you can keep your Ethereum investment for as long as you want.

If you consider a long-term investment, you should consider a CopyPortfolio as a great alternative. However, there are many strategies available to you.

On security, the eToro platform is supported with a security license by the AISC, CySEC, and FCA. In addition, the platform is also part of the FSCS protection scheme. That said, this scheme does not cover cryptocurrencies such as Ethereum.

You can start an account with eToro by making a minimum deposit of $50. PayPal and Skrill can be used for this. For example, if you invest $25, you can invest the rest in other assets while the $25 is invested in Ethereum.

eToro fees

67% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

2. OKX: Buy Ethereum Easy And Fast In Australia

If you are a beginner examining to buy Ethereum easily, OKX may be the right choice. Its interface is very easy to use. In addition, it has very simple tools to be operated by beginners, along with educational material in case they want to learn how to buy cryptocurrencies.

Thanks to its blockchain technology that allows storing more than 95% of users' funds in cold storage, it makes hacking almost impossible. If the user wants, he can add a password to access his digital assets.

It also has a mobile application with which you can access whenever you want and from the application, manage your purchases and sales of Ethereum in Australia, along with a constant update of the price of the cryptocurrency, something very important to keep in mind.

On OKX, cryptocurrencies are divided into price tiers based on their trading volume and the number of assets in the account. Users who trade large volumes and have a large stake in the OKB coin (the OKX platform token) can receive discounts. Futures, swaps, and options have variable commissions. If you want to open an account, go to the OKX website and follow the steps.

OKX fees:

Your Money Is At Risk.

3. Binance: One Platform to Trade Ethereum For Day Traders

Binance it's one of the most considerable exchange platforms worldwide. It has more than 100 million users. Apart from Ethereum, more than 500 other cryptocurrencies are available for trading. So, where to buy Ethereum in Australia? Here is an option.

The minimum deposit for Binance is $50.

For users looking to buy and sell short-term, Binance is a great recommendation, especially if you have previous experience. The platform has a number of different tools, and you can expect very low commissions.

Regarding the platform, users can purchase Ethereum, but they can also trade other cryptocurrencies using ETH.

On the subject of commissions, the platform charges 0.10% on trades at the initial level. In addition, if any Ethereum purchase is made using any debit or credit card, a transaction fee of 2% will be charged.

Once you purchase Ethereum on Binance, you can withdraw it to a private wallet. A web wallet is also an option if you prefer. A good idea is Binance's SAFU, which provides a reserve pot in case of a future hack. They collect commissions for this fund.

Binance fees

Your capital is at risk.

4. Coinbase:  Buy ETH on the largest crypto exchange in the world

You may be choosing Coinbase if you are only looking for a cryptocurrency platform and are not interested in anything else. With over 35 million users relying on this platform, it is the most famous cryptocurrency broker in the market.

Coinbase is an easy and simple way for people to enter the cryptocurrency space for the first time. The reason is that you can open an account very quickly, and funds can be deposited very easily with an Australian debit/credit card or via a bank transfer.

In addition, you will have a wide choice of cryptocurrencies to decide from, such as Ethereum, Bitcoin, Monero and others. After purchasing Ethereum, you have a couple of storage alternatives. Coinbase is an excellent choice for storing funds.

The platform, after all, has employed top-notch security features, such as cold storage. In addition, Coinbase has a large team of experienced employees, which has a full-fledged risk management department.

Coinbase is also licensed by the Financial Conduct Authority, probably the most relevant fact. However, if using a debit card is an option to buy Ethereum in Australia, choosing Coinbase is not great. This is because a 3.99% commission will be applied.

You should know the Ethereum trading fee, even though bank transfers in Australia may be free.

It is paid to buy Ethereum and to sell it back. It is 1.49% per slippage. So, all in all, Coinbase is a fantastic service for its convenience and security, but it does come at a cost.

On Coinbase you can buy ethereum online

Coinbase fees

Your capital is at risk.

5. Plus500: One of the best cryptocurrency brokers with low fees to buy Ethereum

Plus500 is a CFD trading platform offering multiple asset classes. Established in 2008 in Israel, the company is regulated by international authorities, including the Australian Securities & Investments Commission (ASIC) and the Financial Conduct Authority (FCA)

The company's financial products for short and long-term trading are cryptocurrencies, ETFs, options, commodities, equities, stocks, and forex. Plus500 introduced Bitcoin CFDs in 2013. You can trade with zero commissions, tight spreads, a leverage of 1:30, and precise and quick execution of your orders.

Plus500 fees

Your capital is at risk.

What is Ethereum?

The Ethereum blockchain is the first programmable blockchain in history; it is a technology that allows cryptocurrencies to be sent to anyone and powers applications accessible to everyone. The payment system is only one aspect of the service. It is more of a marketplace for financial services, games, and applications.

Ethereum (ETH) is a global digital currency that is used to build Ethereum applications. Basically, it is a cryptocurrency (or digital currency) that can be used on the Internet to make payments. Ether (ETH) and Ethereum (ETH) are two terms that are often used incorrectly. In the context of Ethereum, the blockchain is Ethereum, and Ether is Ethereum's currency or Ethereum's main asset.

Why Buy Ethereum?

So, given all this information, why should you buy Ethereum Australia? The Ethereum (ETH) blockchain is not only a platform for decentralized applications and NFTs, but it also has a cryptocurrency connected to it known as Ether (ETH), which is what is traded in the markets today.

It is used for decentralized power applications, smart contracts, and NFTs. It is important to consider that as more and more people engage in, assimilate, and make use of the Ethereum network, Ether is poised to increase in value as the cryptocurrency that drives all this.

67% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

How Much Does It Cost to Buy Ethereum?

Those interested in buying Ethereum in Australia must first realize that Ethereum coin can be divided into smaller denominations known as weis and gweis. A single Ether is equivalent to one quintillion weis, which is also equivalent to one billion gwei. So, in spite of the fact that one Ether can cost up to $3,000 today, you can still buy the components for a fraction of the cost.

Therefore, the price of Ethereum is only limited by the amount of the minimum deposit on the cryptocurrency exchange you intend to use and the lowest transaction amount. On eToro, for example, a $50 deposit is required to open an account, and a $10 deposit is required to buy Ethereum.

How to Buy Ethereum with PayPal

Unlike most cryptocurrencies, Ethereum is generally priced in U.S. dollars. The price of this is the same as that of major commodities such as oil, natural gas, gold, and silver.

The PayPal website indicates that PayPal will be able to accept U.S. dollars from American customers but, Hawaii is the only state that does not allow the purchase, sale, or holding of Bitcoin Cash. Ethereum can currently only be purchased with PayPal by US customers, but PayPal plans to expand this service to select markets around the world in the future.

PayPal customers with Australian PayPal accounts who want to buy Ethereum still have the option of using a cryptocurrency exchange such as eToro to fund their accounts with PayPal and then purchase Ethereum through the platform.

How to Buy Ethereum with Bitcoin

You would like to know if you can buy ethereum with bitcoin? Bellow in this guide you will see the details. Please keep reading.

If you are a current Bitcoin holder and would be interested in buying Ethereum in Australia with some of your Bitcoin, you can get it very easily through the ETH/BTC cryptocurrency pair. The vast majority of cryptocurrency exchange platforms have this available on their site, such as Binance. Simply create an account on Binance link your cryptocurrency wallet and buy Ethereum in Australia using the Bitcoin you have connected.

Buying Ethereum Safely

You have to always look for the best place to buy Ethereum because such is the risk that many users are suffering from when buying. Attacks have taken many forms, such as exchange hacks and malware attacks.

The following simple guidelines will allow you to buy Ethereum safely.

The best way to buy Ethereum in Australia is through a broker regulated by the Financial Conduct Authority (FCA).

When you buy Ethereum in Australia using an FCA broker, you will have the following safety nets.

A broker will ask you for personal information when opening an account. You will need to upload a copy of your driver's license or passport for the purpose of information. Because no one can buy or sell Ethereum without prior identification.

The FCA broker in question must keep your investment funds protected. This means that he cannot employ your money to function on a day-to-day basis.

Buying Ethereum on the platform must be preceded by a clear explanation of the risks involved. Cryptoassets are high risk.

In addition to staying with FCA-regulated brokers, you will be able to buy Ethereum using a debit or credit card, an everyday means of payment.

67% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

Risks of Buying Ethereum

In this case, we are talking about Ethereum, a coin that, since its launch in 2015, has increased in value and that, like all cryptocurrencies, has some risks when it comes to buying.

The first thing is its high volatility, which means that it is prone to price changes. As a result, it can lose as well as gain at any time.

It is always recommended to buy from authorized sites, or you may run the risk of being scammed.

Another very important recommendation is not to invest more than you can lose; you should always be cautious when using your money.

For beginners, it is best to always start with small investments, as this will reduce the risk of losing your digital assets.

Selling Ethereum

eToro appears to be the best platform to choose for this; however, you can use any exchange platform. Please log into your account if you have one on the website. We encourage those without an eToro account to continue reading.

If, however, you prefer to have more control over the sales process, direct operations (peer-to-peer) are the best option. Identity verification has been completed previously.

Unlike exchange platforms, where transfers are automatic, the buyer and seller negotiate directly. Once a sell order has been established, users will receive notifications when someone seeks to buy the item at the agreed price. Once the buyer pays, the seller receives cryptocurrency.

Ethereum Price Forecast

Maybe you are wondering this question. Should I buy Etherum? The answer is yes but be careful. Remember not to invest more than you can earn.

It is important to note that in 2021, the Ethereum platform gained traction and that its price value rose when it was announced that ETH 2.0 would be released. According to the analysts, Ethereum's price will reach $6,000 by the end of 2023 due to this upgrade program, which is one of the major reasons for this.

Where to Buy Ethereum

A cryptocurrency exchange platform will be your best bet if you want to buy Ethereum in Australia. In the guide, we mentioned many crypto platforms. Here is a list of them:

1. eToro: Overall Best Cryptocurrency Trading Platform in Australia
2. Binance: One Platform to Trade Bitcoin For Day Traders in Australia
3. Coinbase:  Buying Bitcoin On The Largest Crypto Exchange In The World
4. Plus500: One Of The Best Cryptocurrency Brokers With Low Fees To Buy Ethereum

Best Way on How to Buy Ethereum Australia – eToro Tutorial

You can buy Ethereum right now with a debit/credit card or via an e-wallet in Australia. FCA broker eToro will allow you to make a commission-free purchase by following these steps.

Step 1: Open an Account

To begin the process of verification, you must open an account on eToro.

You will need your personal and contact information. As well as creating a username and password, your mobile number will also need to be verified.

Your next step will be to upload a copy of your ID and proof of address. The required documents can be uploaded later when buying less than $2,250 of Ethereum. Withdrawals cannot be made until the required documents have been uploaded.

67% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

Step 2: Upload ID

Proof of identity is required by eToro in Australia. Please attach a copy of your driving license or passport. You will also require to upload a bank statement and a utility bill to verify your address.

Step 3: Deposit Funds

Next, funds must be deposited. There is a $50 minimum deposit. Debit/credit cards, PayPal, Skrill, and Neteller, are all options for instant deposits. The funds will arrive within a few days if you transfer them from your bank account.

Step 4: Buy Ethereum in Australia

A buy order is required on all cryptocurrency exchanges. The amount you stake is simply entered in the 'Amount' box. It is recommended that you stake at least $25 in USD.

You can complete your commission-free Ethereum purchase by clicking on 'Open Trade.' These Ethereum coins will then be included in your portfolio. Your coins can be cashed out commission-free at any time.

67% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

Conclusion

As we explained throughout this guide, buying Ethereum online in Australia is an easy, convenient, and cost-effective process.

Using a brokerage firm regulated by the FCA, such as eToro, allows you to do this. Moreover, you can instantly buy Ethereum with a credit/debit card or e-wallet, ensuring that the Ethereum platform you use is licensed. Additionally, eToro does not charge a commission for buying or selling Ethereum.

Note that if you buy ethereum you must convert to USD.

If you are looking for the best way to buy Ethereum in Australia, click on the link below.

eToro – Best Crypto Exchange to Buy Ethereum in Australia With 0% Commission

67% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

FAQs

What is Ethereum?

Ethereum is a blockchain that has a Proof of Work consensus model that serves as a store of value and a platform for smart contracts and decentralized apps.

Who created Ethereum?

Vitalik Buterin, who was credited with having conceptualized Ethereum's original concept, published a white paper in 2013 in which he introduced Ethereum to the public. As co-founders of ConsenSys, Buterin and Lubin created the Ethereum platform in 2015. Furthermore, Ethereum's founders were among the first to realize the full potential of blockchain technology and enable the secure trading of virtual currency.

What is the market cap of ETH?

At the time this guide is being written on January 20, 2022, the price was $350,086,682,463.85. This information was obtained from CoinMarketCap.

Do I need a crypto wallet to buy Ethereum?

Ethereum is a digital asset. However, it still needs to be stored in a secure way, even though it is a digital asset. Generally, digital wallets are places where you store the private keys which enable you to access and spend your digital currencies. Alternatively, some online Ethereum marketplaces may also provide access to your private keys.

Can I buy Ethereum in Australia?

The answer is yes, you can. For example, it is possible to purchase Ethereum through eToro with an Australian account. In less than 10 minutes, you can be able to purchase Ethereum in a safe, convenient, and commission-free manner.

How much money do I need to buy Ethereum in Australia?

You will need a minimum of $50 to open an account with eToro in Australia. With this, you can already invest in Ethereum