Ethereum is currently the second most popular cryptocurrency in the world (the first is Bitcoin.) However, when it comes to growth, Ethereum is quickly gaining in popularity and over the past year its popularity has increased by 4000%.
This fast rate of growth in popularity can be attributed to the fact that it’s also a blockchain platform with smart contract functionality which makes it more desirable to businesses and other blockchain platforms.
Most people prefer to buy cryptocurrencies using USD as it’s one of the most stable fiat currencies in the world. If you’re recently starting off in the world of cryptocurrencies, it’s likely that you’ll need to purchase your first reserve of Ethereum using USD.
In this article, I’ll show three effective methods by which you can buy Ethereum with USD instantly.
But before we go on with that, you should know that storing Ethereum in the online exchange platforms can be quite risky as they’re prone to being hacked. To keep them completely safe you should invest in hardware wallets such as Ledger Nano S and Trezor.
What you need to consider before buying Ethereum with USD
There are several factors you need to take into consideration when you’re buying Ethereum from any platform.
Comparative Table of 3 Best ways to buy Ethereum with USD Instantly
If you’re in too much of a hurry and don’t have the time to read the reviews of all these platforms and methods, you can scan the following comparative table to narrow down your search.
|Coinbase Review||3.99%||Great||32 Countries - Europe, US, Canada||Buy|
|Coinmama Review||6.0%||Good||226 countries and 24 US states||Buy|
|CEX.IO Review||7%||Great||Global, with Credit/Debit restrictions||Buy|
PART 1: Buy Ethereum with USD in Coinbase
Coinbase is doubtless the most popular cryptocurrency exchange platform in the world. it’s extremely user-friendly as it’s meant for beginners who are just starting to collect cryptocurrencies.
And it allows you to buy Ethereum with USD using a variety of payment options. As for the verification, all you need is an email address and a Photo ID.
- Sign Up with Coinbase.
- Enter your email address and verify it.
- Submit the necessary documents, along with a Photo ID.
- Log into your account to check for verification.
- Once your account gets verified, you can start buying Ethereum with USD.
- Click on ‘Buy Ethereum’ and you’ll get the price for buying it.
- Next, you’ll have to add your payment details, either your bank account or credit card, whichever you prefer.
- Click on next, and then you’ll receive the Ethereum in your account!
If you follow these basic steps, you’ll be successful in buying Ethereum with USD! You can also check out a visual representation of these steps by watching the following video:
In case you have other questions, you can contact the Coinbase Support.
Geographical Availability: 32 Countries, including Europe, US, Canada, and Singapore. You can check your country’s availability here.
Fees: 3.99% on all Credit/Debit card purchases.
Read: Coinbase Review
PART 2: Buy Ethereum with USD in Coinmama
Coinmama is the best platform for beginner who want to buy Ethereum or Bitcoins. In fact, it’s only meant for people who want to buy these coins without going through any verification, account creation, etc.
This is an extremely simple but bare-bones platform and it doesn’t even have facilities to temporarily store your coins. As such, after you make the payment, you have to directly send the Ethereum to your Ethereum wallet.
However, all that freedom also comest an expensive price as Coinmama has quite a high transaction fee.
How to Buy Ethereum with USD in Coinmama:
- Select “Buy Ethereum” from the homepage and enter the value you want to purchase.
- Select the payment option, be it bank transfer or a credit/debit card.
- Next, you’ll have to enter your online wallet or hardware wallet address so the coins can be sent over.
- Click on “Proceed to Checkout”.
- Fill up the checkout form.
- Click on “Pay Now”.
Following this, the payment will be verified. You’ll get a message saying it’s “In Process”, and within 10-20 minutes you’ll receive the Ethereum funds in your wallet.
If you’re still confused about the process, watch the following YouTube video:
Geographical Availability: Available in 226 countries and 24 US states.
Fees: The transaction fees are quite high at 6.15% per transaction, with an additional 5% to buy Ethereum with a credit card or debit card.
Read: Coinmama Review
PART 3: Buy Ethereum with USD in CEX.IO
CEX.IO used to be a cloud mining provider but now it functions solely as one of the most reliable cryptocurrency exchange platforms in the world. One of the best aspects of this platform is that it’s also available in a mobile app so that you can continue trading even when you’re on the move.
The verification process for CEX is quite difficult though. You have to first confirm your email address, and then provide 2-factor authentication by also confirming your mobile number. Following that, you have to verify your identity by providing a government ID.
Finally, you’ll have to verify your payment method as well, be it bank transfer or credit/debit cards. If you’re making the payment from a card, you’ll have to take a selfie with the card and send it to them. The verification will take up to 48 hours.
How to Buy Ethereum with USD/Cash in CEX.IO:
- Go to CEX.IO.
- Create an account by entering your email address and confirming it.
- Select Ethereum for purchase.
- Go to the ‘Payment’ option to enter your payment details.
- Click ‘Next’ to go to the Summary page.
- Next, you can ‘submit’ and authorize the payment.
- You’ll receive your Ethereum soon and you can transfer it to your wallet.
You can watch the following video for a detailed overview of how to buy Ethereum:
Geographical Availability: You can buy Ethereum with USD in all countries. However, the following countries won’t accept credit/debit card payment: Iceland, Vietnam, Afghanistan, Algeria, Bahrain, Iraq, Kuwait, Lebanon, Libya, Nigeria, Oman, Pakistan, Palestine, Qatar, Saudi Arabia, and Yemen.
The following US states don’t allow trading in cryptocurrencies: Alabama, Alaska, Arizona, Arkansas, Colorado, Florida, Georgia, Guam, Idaho, Iowa, Kansas, Louisiana, Maryland, Michigan, Mississippi, Nebraska, New Hampshire, New Jersey, North Carolina, North Dakota, Ohio, Oregon, Tennessee, Texas, U.S. Virgin Islands, Vermont, Virginia, and Washington.
Fees: CEX.IO charges a 7% transaction fee, and that’s in addition to the fee it charges for depositing fiat currency. You can check out the fee schedule here.
Read: CEX.IO Review
Ethereum is one of the most popular cryptocurrencies and as such you can buy it from most platforms, using a variety of payment options. However, USD is the standard fiat currency that’s stable and used uniformly across the globe.
You can buy Ethereum with USD using several platforms, however the most reliable ones are – Coinbase, Coinmama, and CEX.IO. If you’re a beginner and you want to buy your cryptocurrencies immediately, I would suggest using Coinmama, even though it has a higher transaction fee.
However, if you want a long term solution with an inbuilt storage functionality, then the best platform is Coinbase. But even if the platform comes with an online storage function, you should still transfer your coins to hardware wallets such as Ledger Nano S and Trezor to keep them safe.
Do comment down below and let us know which platform you prefer to use and what’s your experience been like. If you have any other questions, feel free to ask!