In this guide, you will learn how to buy Ethereum in a safe & easy way. We will cover all the ways how to buy Ethereum that we found to be convenient and safe for our readers. We only use exchanges that have a great history of security in our cryptocurrency guides.
Summary: By following through with this guide, you will learn how to buy Ethereum on an exchange and you will learn how to store Ethereum in a safe way.
Table of Contents
- Buy Ethereum on Binance using Credit Card
- Buy Ethereum with Bank Deposit (SEPA)
- How to store Ethereum
- Conclusion
Buy Ethereum on Binance using Credit Card
Binance has been our favorite exchange for the past couple of years because of its great history of security, ease of use, and great support.
Step 1 – Sign up for Binance
To be able to buy Ethereum on Binance, you first need to sign up. The process is easy & straightforward. You can choose to either sign up using your email address, your Apple account, or your Google account.
Step 2 – Getting verified
Although it is not required to verify yourself to buy Ethereum, it is highly recommended for security. The process is really quick & easy nowadays and shouldn’t take longer than 15 minutes.
You can find detailed instructions on how to get verified here.
Step 3 – Buy Ethereum with Credit Card
The quickest & easiest way is to buy Ethereum using a credit card. Click on Buy Crypto on the top navigation bar and select Credit/Debit Card.
Once you are there, select your local currency and the amount of money you want to spend to buy Ethereum. In the field below, you will see how much Ethereum you will receive in exchange. Then, click on Continue.
In the next dialogue, you will be required to enter your credit card details. We trust Binance to store our information safely and have been using Binance for the past 5 years without any issues. Click on Add new card to enter your card details.
Once you are done with this, click on Continue to finish the purchase. Once done, you will now find your Ethereum in your Wallet. Simply click on Wallet -> Overview on the upper-right corner of your screen to get there.
Buy Ethereum with Bank Deposit (SEPA)
Another popular way, especially within Europe is to buy Ethereum with Bank Deposit, since we are able to use SEPA, we are able to only pay a very little transaction fee. From Germany, we are able to transfer money to Binance via SEPA with just a small 1€ fee.
Step 1 – Transfer Money to Binance with Bank Deposit
Click on Buy Crypto on the top navigation bar and select Bank Deposit. Then select the currency you want to transfer, choose Bank Transfer (SEPA), and click on Continue.
Now enter your desired amount of currency that you would like to transfer and click on Continue. You will now be presented with the IBAN number which you need to transfer your desired amount of currency.
Make absolutely sure that you enter the Reference in your transaction. This usually is your full name. Otherwise, Binance is unable to process the transfer. If this is your first time transferring money to Binance, we highly recommend doing a small test transaction first and seeing if the money arrives correctly in your Binance account.
Now you just need to log in to your online banking and transfer the funds over to Binance. They should arrive in between 1-3 business days. From our experience, it only takes 1 business day on average. You will receive an email notification from Binance as soon as the funds arrive.
Step 2 – Buy Ethereum on Binance using Cash Balance
Once your funds arrive, buying Ethereum on Binance is straightforward. Simply click on Trade -> Binance Convert on your top navigation bar. Change the From field(1) (your currency) to the currency which you have deposited earlier and change the To field to ETH(2).
Now enter the amount for which you want to buy Ethereum and click on Preview Conversion. You will be presented with the current market price of ETH. Click on Convert(3) to buy Ethereum. You will now find your Ethereum balance in your wallet.
How to store Ethereum
Even though we consider Binance to be a safe place to store Ethereum, we always recommend cold storage like a Ledger Nano S to store larger amounts of cryptocurrency for safety.
Another great way to store Ethereum would be a mobile wallet like TrustWallet or Metamask.
Conclusion
That’s how easy it is to buy Ethereum on Binance. If you have any more questions, don’t hesitate to leave a comment below.
