Since cryptocurrencies are legal in the UK, you can start trading ETH in no time. Read on to see how you can start doing so and where you can execute trades!
Ether is the official name of the token that exists under the Sieć Ethereum i to jest druga co do wielkości kryptowaluta – behind only Bitcoin.
So, as a result, it has attracted a lot of attention among investors in the UK, and if you are one of them who is new to the industry, you are at the right place! Here, we will take a closer look at the Ether trading options in the UK, alongside its legal status.
Let’s start with the basics here. Ethereum is a decentralized network that allows users to communicate and make transactions with each other directly, without the need for intermediaries. The Ethereum ledger is maintained by the users, so there is on central authority that will keep account of your transactions.
Everyone who participates in the Ethereum network has to stake their own ETH. to get the chance to validate transactions and in return – get valuable amounts of Ether. The logic here is quite simple – the more ETH you stake, the bigger your chances of becoming a validator.
Ethereum and all other cryptocurrencies are legal in the UK, but note that they are not legal tender. Nothing stops you from buying or selling ETH and storing them in digital wallets, but they are subject to a taxation regime, so you must keep your books clean whenever you purchase ETH.
Co się tyczy platformy wymiany kryptowalut, oni też są legalne w Wielkiej Brytanii – given that they are registered with the Financial Conduct Authority of the country. They also need to work within the Pranie pieniędzy i Wymagania AML, więc a Proces KYC is a must for any exchange.
Now that you know you can safely purchase ETH in the UK, it is time to walk you through your options. First off, we have crypto exchange platforms that are widespread in the UK public as they allow seamless, secure and fast ETH transactions. You can get your hands on ETH by following the next few steps.
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krok 1
An exchange is a rynek kryptowalut that brings together buyers and sellers of cryptocurrencies. Some exchanges allow you to buy ETH with a fiat currency, while others will require you to swap one crypto for another.
Przeprowadzimy Cię przez najlepsze wymiany kryptowalut below in the article, and the first step requires you to choose one of those.
Then, the registration process follows. That process itself is a straightforward one, but due to UK legislation, such companies must ask you to verify your ID before proceeding. For this, you will need to send photo proof of your ID card.
An exchange is a rynek kryptowalut that brings together buyers and sellers of cryptocurrencies. Some exchanges allow you to buy ETH with a fiat currency, while others will require you to swap one crypto for another.
Przeprowadzimy Cię przez najlepsze wymiany kryptowalut below in the article, and the first step requires you to choose one of those.
Then, the registration process follows. That process itself is a straightforward one, but due to UK legislation, such companies must ask you to verify your ID before proceeding. For this, you will need to send photo proof of your ID card.
krok 2
Once you make your choice about the best exchange from our lust, you will need to add funds before you start trading. Depending on the platform, you will have different options at your disposal – e-wallets, credit/debit cards, bank transfers, etc.
Be aware that even though cards are the most common payment method in the UK for such transactions, some banks don’t allow their customers to use credit cards for buying ETH. In addition, you also need to know that different fees apply to each payment method, so we advise you to review these charges to maximize your trading efficiency.
Once you make your choice about the best exchange from our lust, you will need to add funds before you start trading. Depending on the platform, you will have different options at your disposal – e-wallets, credit/debit cards, bank transfers, etc.
Be aware that even though cards are the most common payment method in the UK for such transactions, some banks don’t allow their customers to use credit cards for buying ETH. In addition, you also need to know that different fees apply to each payment method, so we advise you to review these charges to maximize your trading efficiency.
krok 3
Stock markers limit you to a few hours of trading activity, but that worry is quashed aside by exchange platforms. You can buy ETH at any time of the day by entering its ticker symbol in the Buy field of the exchange platform.
Then, just select the amount you want to buy and you are all done! Now you have your hands on your first ETH assets!
Stock markers limit you to a few hours of trading activity, but that worry is quashed aside by exchange platforms. You can buy ETH at any time of the day by entering its ticker symbol in the Buy field of the exchange platform.
Then, just select the amount you want to buy and you are all done! Now you have your hands on your first ETH assets!
krok 4
You should never neglect the importance of storing your ETH holdings safely. Once you get your hands on your assets, you need to find a wallet to store them. You can always trust the crypto exchange platform to store them for you, or you can take matters into your own hands and find self-custody wallets.
With that in mind, you have two options for storing Ether:
You should never neglect the importance of storing your ETH holdings safely. Once you get your hands on your assets, you need to find a wallet to store them. You can always trust the crypto exchange platform to store them for you, or you can take matters into your own hands and find self-custody wallets.
With that in mind, you have two options for storing Ether:
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znalezienie right crypto exchange in the UK can be challenging for novices in the industry. Here, you need to rely only on platforms that are approved by the FCA, and to save you some time on research, here are the options you can choose from.
Zaczynamy od eToro, A platforma z wieloma zasobami that allows you to trade various cryptocurrencies, but also NFTs, stocks, ETFs, and so on.
All of the best cryptocurrencies are available for trading at eToro, with Ether being on that list, of course. It is free to open an eToro account and once you do, you will receive a £80,000 demo account for free – you can use it to practice around the platform.
Zauważ, że istnieje 1% trading fee on all crypto positions że eToro users need to pay, and since all trading occurs in USD currency, UK traders will pay a transaction fee. Withdrawals also come with a fee of £4, with the minimum withdrawal being £23.
Everyone who is experienced in the crypto trading world will surely have heard of Coinbase – one of the leading exchange platforms in the world that allows you to buy and sell cryptocurrencies, NFTs and other DeFi products.
Ether is one of 240+ kryptowalut wspierany przez Coinbase, and the platform also has an in-built wallet where you can store your Ether separately.
As for the fees, you need to know that there are several associated ones if you choose Coinbase. Fees vary depending on the payment method, the order and the market conditions surrounding the ETH assets.
coinjar is another crypto app that is specially designed for the UK i Rynki australijskie. By using it, you can trade or invest in over 50 cryptocurrencies, with Ether being also on that list. In addition, a novelty that separates CoinJar from its competitors is its card that you can use to make crypto purchases anywhere where MasterCard is allowed.
Kolejna unikalna cecha coinjar users can utilize is called Crypto Bundle. It works as a themed basket of cryptocurrencies, which is very similar to a crypto index fund or a stock portfolio that is ready-made. If you invest in Crypto Bundle, it means that you invest in every cryptocurrency available on CoinJar at once.
Aby otworzyć konto na coinjar, you need to deposit at least £10, with all deposits being made with GBP. Note that there is also a trading fee of 1% on CoinJar’s app and website.
Utrzymuj jest great crypto exchange dla wszystkich beginners in the UK. It allows you to trade over 250 cryptocurrencies, but you can also buy and sell 3 national ones – GBP, EUR, USD.
Additionally, Uphold has a virtual card that you can use wherever MasterCard is allowed, and there are no transaction fees when using it. However, be aware that there are several fees attached to using Uphold.
In the UK, Uphold charges a market spread that can range from 0.9% to 1.2% on ETH. There is also a withdrawal fee of up to £3.15 for bank transfer withdrawals.
Ostatnia wymiana na naszej liście to Kraken, a platform where you can trade with ponad 200 kryptowalut. Kraken has a very simple user interface and a wide range of in-built educational materials – so newbies will easily fall in love with it.
As for experienced traders, they can always take full advantage of Kraken Pro, which includes access to spot, margin, futures trading and staking, risk management tools, etc.
Finally, it is free to open an account with Kraken, but your first trade must be worth at least £8, with the fees ranging on the assets you buy and how you trade.
Another common option to buy Ether is through P2P platforms. Such platforms are completely decentralised as they allow traders to make transactions between themselves on conditions they agree upon.
Exchange platforms mentioned above are third parties when you execute trades, but P2P platforms allow you much greater flexibility. These platforms work similarly to a marketplace, meaning that you can browse through advertisements of decentralised products and negotiate over a price.
In addition, P2P exchanges secure transactions by providing escrow services and public ratings. You also don’t need to worry about KYC requirements when opening an account on such platforms, as they don’t fall under UK AML laws.
The downside of the lack of regulation is that you are not well-protected in case of fraud, so you need to be wary.
So, with all that in mind, you will be happy to know that you can start trading ETH at P2P platforms in no time – just by following the next few steps.
Note that the UK Government offers limited protection against P2P platforms, so it is up to you to find a trustworthy and reliable one. Nonetheless, we are here to save you some time on research, so here are some good decentralised P2P platforms that you can use to buy Ether:
Kucoin – finally, Kucoin is an exchange that offers trading on more than 1,000 tokens. In addition, you can take full advantage of its leveraged trading opportunities with futures and perpetual swaps.
You might have thought that crypto ATMs are a good way to buy ETH, but the reality is quite different in the UK. Just in 2023, the Financial Conduct Authority imposed a ban on all crypto ATMs and urged operators to shut them down immediately.
So, even if you happen to stumble across a crypto ATM in the UK, stay away from it, as it functions illegally!
Selling ETH is a streamlined process, regardless of whether you choose to do so via centralised crypto exchanges or P2P platforms, and we are happy to walk you through the processes.
Let’s start with crypto exchange platforms. Here are the general steps you need to follow to sell ETH:
Note that the duration of the withdrawal may vary depending on the platform’s activity level. Also, different platforms charge different transaction fees, so that is something you must check before withdrawing.
On the other side of the spectrum, if you prefer P2P trading, then you can follow the next few steps to sell ETH:
Overall, we can safely say that cryptocurrencies will continue to rise in popularity, so more and more people will be interested in investing. Therefore, it is crucial to be one step ahead, and hopefully, this guide has all the information you need to start an effective and hopefully profitable ETH trading experience!
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Yes, ETH is legal in the UK, but note that they are not a legal tender. As long as you pay your taxes, you can always buy or sell ETH in the country.
You have a couple of options here. You can opt for FCA-approved exchange platforms, or you can choose a more decentralised approach and trade via P2P Platforms.
Thankfully, there is not just one that stands out! The likes of eToro, Coinbase and CoinJar, just to name a few, are always a good choice.
You can expect transaction fees on whichever platform you use, but the exact numbers will vary, depending on the exchange.
Unfortunately, since February 2023, crypto ATMs are not allowed in the UK, so you will have to rely on other options.