8 Best Ethereum Trading Platforms in the UK for 2024

Whether you are looking to buy Ethereum or trade it on a short-term basis – you will need to find a suitable platform.

The best Ethereum trading platforms UK allow you to access this popular digital currency at the click of a button at competitive commission rates. You’ll also find that the best providers support multiple payment methods.

But, with so many cryptocurrency brokers and exchanges supporting Ethereum markets – knowing which provider to sign up with can be challenging.

In this guide, we review the best Ethereum trading platforms UK of 2024.

How Does ETH Trading Work?

ETH is a decentralized digital currency, meaning that it operates on the Ethereum blockchain network. This allows for secure and transparent transactions, as well as the ability to create and execute smart contracts. In order to trade ETH, one must first open an account on a cryptocurrency exchange platform that supports Ethereum-based tokens. There are numerous exchanges to choose from, each with its own features and fees.

Once you have an account, you can deposit funds and then place buy or sell orders for ETH. This can be done using various trading pairs, such as ETH/BTC or ETH/USD, depending on the exchange. The price of ETH fluctuates rapidly, so traders need to constantly monitor the market and make decisions based on their analysis of price charts and market trends.

ETH trading can be done manually by placing individual trades, or it can be automated through the use of trading bots. These bots execute trades based on predetermined parameters set by the trader, allowing for potentially faster and more efficient trading.

When you buy ETH, the transaction is recorded permanently on the blockchain and tokens are sent to your crypto wallet address. Cryptocurrency transactions cannot be changed, deleted or canceled. Each transaction is encrypted with complex code that determines how much ETH you receive.

Best Ethereum Brokers in the UK Reviewed

In today’s marketplace, there are now hundreds of Ethereum trading platforms active in the online space. Most of these providers are unregulated – so you need to choose wisely.

Additionally, you also need to explore what Ethereum trading markets the platform supports, how much you will be charged to buy and sell, and whether or not your preferred payment method is supported.

To save you countless hours of research – below we review the best Ethereum trading platforms UK to consider right now.

1. Coinbase – One of the largest crypto exchanges and best Ethereum brokers

Although Coinbase is one the most expensive Ethereum trading platforms in the online space – this hasn’t stopped more than 35 global clients from opening an account. Perhaps the main reason for this is that Coinbase makes the Ethereum investment process safe and simple. Crucially, if you have never bought or traded Ethereum before, Coinbase might be the right option for you.

This is because you can open an account in minutes and easily deposit funds with a UK debit card. This does, however, come with a cost of 3.99% – which is even more expensive than Binance. You will then be charged a further 1.49% when you decide to cash your Ethereum position back to pounds and pence.

If you want to avoid the 3.99% debit card fee, you’ll need to transfer the funds from your UK bank account. You will, however, need to pay a trading fee of 1.49% to enter your Ethereum position. Nevertheless, if you’re looking to diversify into other digital currencies, Coinbase offers dozens of markets. This includes the likes of Bitcoin, Litecoin, Ripple, Dash, and heaps of ERC-20 tokens.

When it comes to storage, you may consider leaving your Ethereum tokens in your Coinbase web wallet. This is because the platform is home to top-notch security features – including keeping 98% of client funds in cold storage. 2FA and wallet address whitelisting are also offered. Additionally, Coinbase allows you to withdraw your cryptocurrencies to a private wallet. Once you make the request, the transfer is typically posted to the blockchain in less than 10-20 minutes.

Cryptoassets are highly volatile. Please make sure that you can afford to lose your investment.

2. OKX – The Best Platform For Trading Ethereum In The UK With Blockchain Technology

OKX is one of the newest platforms for Ethereum Trading in the UK. This platform has more than 20 million users and is in 180 countries. This platform uses blockchain technology to remove all barriers and make cryptocurrency trading available to everyone.

Thanks to its innovative platform, it presents itself as a good option for all types of traders. Trading on OKX is quite simple and convenient. Users can not only trade Ethereum but also sell and exchange it on both the website and the mobile app. One feature of the OKX mobile app is receiving live cryptocurrency price notifications.

The minimum deposit to be able to trade Ethereum varies depending on the type of account verification. According to the type of account verification, you will have the possibility to make a larger deposit. However, we believe that an initial deposit of $50 would be ideal for getting started.

If you are a beginner in OKX, you can learn about trading with Ethereum. The platform has a section on its website called Academy, where you can find all kinds of educational material to learn about cryptocurrencies in the market.

Cryptoassets are highly volatile. Please make sure that you can afford to lose your investment.

3. Crypto.com – Trading Platform With An Integrated DeFi wallet To Buy ETH UK

As one of the world’s most secure and fast cryptocurrency exchanges, Crypto.com was founded in 2016. Several developers and a strong marketing team have helped Crypto.com grow rapidly in the past few years. The platform supports more than 250 different currencies, and holders of Crypto.com’s token (CRO) can enjoy discounts and fees.

It is an ideal place to invest in cryptocurrencies because Crypto.com provides multiple ways to store digital assets. For example, your account can be linked to multiple digital wallets. The DeFi wallet provides a good example of this. Moreover, users of this app will be able to earn rewards through coins or tokens, similar to those used by decentralized financial applications based on blockchain technology.

Because Crypto.com only requires a $1 deposit to open a position, it is one of the most accessible cryptocurrency trading platforms. In addition, those who wish to leverage their position on the platform can also access cryptocurrency trading and derivative products.

Cryptoassets are highly volatile. Please make sure that you can afford to lose your investment.

4. Margex – Ethereum Trading Platform For Novice Trader in the UK With Educational Material UK

Margex has been providing cryptocurrency brokerage and trading services globally since its founding in 2020. Because of this, Seychelles is an ideal market for launching this platform. However, even though KYC information is not required to operate an exchange, there is another factor you should take into account.

It can be accessed from anywhere globally, which makes it convenient and helps keep your financial information private. Furthermore, Margex provides its users with the free ability to create a customized MP Shield (Listener Protection Shield) with data encryption so they may protect themselves from financial risks. As for liquidity trading pairs, the platform does not maintain a record of crypto assets manipulated in terms of price. Furthermore, various security options are available during withdrawals and deposits to ensure your account’s security.

The verification of step two is not required for other similar platforms. You will, however, not be able to utilize some of the benefits if you do not do this.

New cryptocurrency traders may gain information from Margex’s trading website because it has an intuitive interface. However, they should avoid diving into cryptocurrency trading right away. As well as articles and video guides, beginners can take advantage of useful reading material to help them succeed in crypto trading. Margex’s trading website is a great source of information before you start trading right away, as it features an easy-to-use interface for beginner cryptocurrency traders. In addition, there are many articles and videos available for beginners who want to make money in crypto trading.

Margex also offers leveraged trading up to 100x when trading CFDs. This is suitable for advanced traders who want to increase their position size and potentially amplify profits. Leveraged trading is available for retail investors who trade crypto derivatives.

Cryptoassets are highly volatile. Please make sure that you can afford to lose your investment.

5. Huobi – Excellent Ethereum Exchange Platform for Experienced Traders

Singapore-based Huobi is an exchange and online financial services company focused on cryptocurrencies. Besides offering access to popular crypto-assets like Bitcoin, Ethereum, and XRP, Huobi also allows users to participate in initial coin offerings (ICOs) before they go mainstream. Huobi was founded in Beijing, China. After the government expelled cryptocurrency exchanges in 2017, its presence in the Chinese cryptocurrency market grew rapidly.

A favorable crypto law regime led the company to move to Singapore. The largest crypto exchange globally, Huobi offers over 355 types of cryptocurrency. More than 5 million active users are represented in 130 countries on the platform. Based on a measure of daily trading volume derived from Coinmarketcap, Huobi is ranked third among the top cryptocurrency exchanges. Other prominent exchanges include Coinbase and Bithumb.

Because Huobi is accessible, it is popular since both new and experienced traders can use it simultaneously. The platform accepts deposits in several fiat currencies including EUR, USD and GBP. Purchasing crypto with a fiat currency requires KYC.

Your account will be set up in just a few minutes. You should also be able to do it without a problem, so please do not hesitate.

Security breaches have not occurred since Huobi launched its company wallets. To achieve this enviable record, we have implemented several security protocols that are very stringent. In addition, the crypto funds at Huobi are also not accessible to bad actors, as they are stored in a cold storage facility off-chain so that nobody can hack into them.

Cryptoassets are highly volatile. Please make sure that you can afford to lose your investment.

6. Binance – Ethereum Trading Platform UK for Day Traders

If you’re a day trader who is looking to buy and sell ETH on a short-term basis – Binance stands out.

After all, Binance is home to the most amount of liquidity and daily trading volumes in this industry. You will have access to hundreds of trading pairs that contain Ethereum, including the likes of BTC/ETH, ETH/USDT, and XRP/ETH. You can trade at Binance 24/7 at a commission of just 0.10% per slide.

This means that a £500 buy order on ETH/BTC, for example, would cost you the equivalent of just £0.50 to enter the market. You can reduce this even further by trading larger amounts throughout the month or holding a collection of BNB Coins. The latter is the native cryptocurrency backed by the Binance exchange. This top-rated Ethereum trading platform is also great if you want access to complex cryptocurrency instruments. At Binance, this includes options, futures, and even swaps.

If you are able to deposit funds into Binance with a cryptocurrency, then you will not need to provide any personal information – nor will you be required to upload KYC documents. If, however, you want to deposit funds with a debit/credit card or bank transfer – Binance will need to collect this information from you. In terms of transaction fees, Binance charges 3% on debit/credit card purchases.

To avoid this fee, consider transferring funds from your UK bank account. This is free at Binance and often takes just a few minutes for the funds to arrive. When it comes to security, Binance offers several safety nets that aim to keep your crypto funds safe. This includes two-factor authentication (2FA), address whitelisting, and email notifications. Finally, Binance also offers an Ethereum trading app as well as a mobile wallet. Both are available on iOS and Android devices.

As well as retail investor accounts, Binance offers institutional accounts. The Corporate VIP account is available to US companies and provides a gateway to crypto investors on an institutional level.

Cryptoassets are highly volatile. Please make sure that you can afford to lose your investment.

7. Coinjar – Best Ethereum Wallet UK for Long-Term Investors

As a global cryptocurrency platform, Coinjar has won several awards over the years for its development. It is still the biggest digital currency broker globally despite its entry into the market. In addition to Bitcoin, Coinjar allows users to purchase and sell a variety of cryptocurrencies.

The site provides the ability to exchange cryptocurrency any day and night. Furthermore, Coinjar also provides a full-featured Bitcoin wallet geared toward UK customers and the capability to purchase cryptocurrencies on their platform. Currently, the Coinjar app is available on both Android and iOS platforms.

It is based on your specific operating system; all aspects are laid out and optimized accordingly, making it quite straightforward. Following the installation of the application, your cryptos will be sent to your unique wallet address after it has been set up.

Cryptoassets are highly volatile. Please make sure that you can afford to lose your investment.

8. CoinCorner – Best Ethereum Broker UK for Small Stakes (Minimum £5) 

CoinCorner is an online cryptocurrency exchange in the UK that largely focuses on Bitcoin trading. This is because BTC is the only digital currency that you can directly buy with your debit or credit card. With that said, CoinCorner does support Ethereum – it’s just that you first need to obtain a GBP balance.

In order to do this, you can easily deposit funds via a UK bank transfer. In fact, the minimum here is just £5 – which is great if you are looking to obtain a super-small amount of ETH tokens. You will be charged a fee of £1 if you deposit £5 or less, so do bear this in mind.

Alternatively, you can also add funds to your CoinCorner GBP account with your UK debit/credit card. This will cost you a variable deposit fee of 2.5% and the minimum funding amount on Visa/MasterCard transactions is £10. If, however, you already have Bitcoin, you can deposit BTC into CoinCorner for free.

Irrespective of how you fund your account, you will also need to pay a trading fee to buy Ethereum. This ranges from £1-£3 on transactions of less than £300, and 1% if it’s above this figure. As such, CoinCorner isn’t the most cost-effective option in the market.

But, the process of opening an account, depositing funds, and subsequently buying Ethereum is actually very easy. Plus, when you factor in the low minimums, CoinCorner is a great option for first-timers. Finally, once you have obtained Ethereum, you can either leave the tokens in your CoinCorner account or withdraw the funds to a private wallet.

Cryptoassets are highly volatile. Please make sure that you can afford to lose your investment.

What Is The Cheapest Way To Trade Ethereum?

If you’re looking for the cheapest way to trade Ethereum, you’ll want to find a platform that offers low trading fees. One such platform is Binance, which is known for its competitive fees. Crypto trades on Binance are charged at a fixed commission of 0.1%. Fees can be made cheaper by staking the platform’s native BNB token.

Another option is Coinbase, which is a popular platform that allows you to buy, sell, and trade Ethereum. Coinbase offers competitive fees, and if you use their trading platform, Coinbase Pro, you can get even lower fees.

Additionally, both Binance and Coinbase are regulated and trustworthy platforms that have been around for several years. Ultimately, the best option for you will depend on your specific trading needs and preferences, so it’s worth doing some research and comparing the features and fees of different platforms before making a decision.

Cryptoassets are highly volatile. Please make sure that you can afford to lose your investment.

How to Get Started with the Best Ethereum Trading Platform UK

If you’ve read our guide up to this point, you should now have chosen the best Ethereum trading platform UK for your needs. If you need a bit of help with the setup process, the guidelines below we show you how to trade Ethereum at Coinbase.

Step 1: Open an Account and Upload ID

You will first need to open an account with Coinbase – which you can do by clicking on the ‘Create account’ button from the homepage. You will need to provide some personal information – such as your name, home address, National Insurance Number, and date of birth.

On top of choosing a username and strong password, you’ll need to verify your mobile number via a unique code that is sent to your phone via SMS.

Coinbase is a brokerage that requires full KYC and identity verification and you will need to upload some documents before you can [A] deposit funds or [B] make a withdrawal.

As such, you can proceed to the next step now should you wish – but it’s best to quickly upload the required documents so that your account has all limitations removed.

Step 2: Deposit Funds

You will now be asked to deposit some funds so that you can proceed to buy or trade Ethereum with real money. The broker supports debit cards and bank transfer. Coinbase processes payments using the Faster Payments Scheme – meaning that your deposit will be credited instantly if you choose to top-up the Coinbase Wallet. If you elect to transfer funds from your UK bank account, this will delay the process slightly and also requires a minimum of $500.

Step 3: Search for Ethereum 

Once you have added funds to your Coinbase account, you can then complete your Ethereum trade. The way of doing this is to search for ‘Ethereum, and then click on the result that loads up (like the screenshot below).

On the next page, click on the ‘Trade’ button.

Step 4: Place Ethereum Trade

You will now see an order box appear on-screen. This will tell Coinbase what you wish to do from your Ethereum trade – such as your required entry and stop-loss order price.

However, if you are simply looking to buy Ethereum at the current market price – all you need to do is enter your stake. This needs to be entered in US dollars and at a minimum of $25.

Finally, click on ‘Open Trade’ to complete your Ethereum investment.

Step 5: Storage and Selling Ethereum

Once you have completed your Ethereum trade at Coinbase, you then need to decide how you plan to store it. The easiest option is to leave your ETH tokens in your Coinbase trading account.

This means that the tokens will be stored and safeguarded by Coinbase itself. Then, whenever you wish to sell your Ethereum tokens back to pounds and pence – you simply need to click on the ‘Sell’ button from within your portfolio. When you do, the funds will be reflected in your Coinbase account and available for withdrawal.

The other option is to withdraw your ETH tokens to the Coinbase wallet – which is available on iOS and Android devices. You can also withdraw the tokens to a private wallet of your choice – should you wish.

Cryptoassets are highly volatile. Please make sure that you can afford to lose your investment.

Conclusion

This guide has discussed the importance of choosing the best Ethereum trading platform UK for you and your needs. Whether you’re looking for a specific ETH market or wish to deposit funds with a certain payment method – you need to do lots of homework before taking the plunge.

And of course, you’ll also need to make sure your chosen platform is regulated and that it charges reasonable fees. Ultimately, if you’re looking to trade Ethereum right now and don’t have time to research dozens of potential brokers yourself.

Cryptoassets are highly volatile. Please make sure that you can afford to lose your investment.

FAQs

References:

• https://finance.yahoo.com/news/why-invest-ethereum-too-131220223.html?guccounter=1&guce_referrer=aHR0cHM6Ly93d3cuZ29vZ2xlLmNvbS8&guce_referrer_sig=AQAAAMbIrrhBV4AkkVHcwxdDDA5VbjqxowclDjHQ82Wm4AKo6j45FEIOPkmtc6x7K4BFMbQ8uW9n4JPIFbNyiyUtbkz2ciRVIAiqXgQPqQbEK8DdHR1miQSrYN5HW8gRA41FzDOlfTf6HQBu3KA3YS_E2ng_1FQ-4QyIR5Z9j9xaVqJU
• https://www.fca.org.uk/
• https://asic.gov.au/regulatory-resources/digital-transformation/crypto-assets