What is the best ethereum exchange?
JackAs Ethereum becomes more and more popular, exchanges are including Ether (Ethereum’s currency) in their currency pairs. In this article I’m going to go over the different Ethereum exchanges available and list the various things you need to take into account before choosing an exchange.
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Ethereum Exchange Types
Before you choose an Ethereum exchange it’s important to get familiar with the different exchange types out there.
Trading platforms
Connect buyers and sellers automatically through an online website. The buyer states the requested price and the platform finds a seller that meets the bid. No direct communication is done between the buyer and seller. Trading platforms are usually the cheapest option when it comes to fees but are also much more complicated than other options.
Brokers
A website that sells you Ethereum directly for a premium. Brokers are usually the easiest way to buy Ethereum but are also more expensive.
p2p marketplaces
Websites that connect buyers and sellers directly so they can negotiate on a price. While these sites usually allow for a wider array of options (payment methods, supported countries, etc.) they also hold a large amount of risk since you’re buying from an anonymous individual.
How to Choose an Ethereum Exchange?
When examining an exchange you should take into account several factors:
- Fees – What are the deposit, withdrawal and transaction fees the exchange collects?
- Countries supported – Is the exchange supported in your country?
- Payment methods accepted – Does the exchange accept credit cards, wire transfers or even PayPal?
- Exchange reputation – How long has the exchange been around? Is it transparent about its business?
- Level of verification needed – Is there a long verification process or can you buy Ethereum right away?
- Reliable support – How responsive is the exchange support? Can you chat with them or just email them?
Keep in mind that no exchange is perfect and usually an exchange will excel in one field and lag behind in another.
Best Ethereum Broker Exchanges
CoinMama
Coinmama has been around since 2013 and supplies a brokerage service to both Bitcoin, Ethereum and a variety of other cryptocurrencies. The exchange will buy or sell Ethereum directly at a premium. They also put an emphasis on quality customer support. Coinmama accepts credit and debit cards, as well as SEPA transfers for Ethereum purchases. If you have the option to pay via SEPA you’ll decrease fees dramatically.
Coinbase
Coinbase is one of the most popular methods for buying Ethereum. The exchange is one of the oldest around and has been active since 2012. Coinbase supports 100+ different countries including the US, Canada, UK, and Australia. Coinbase can act as a broker through its direct and easy buying service, or you can use the Coinbase Pro exchange if you’re a more experienced user.