Best Ethereum Trading Platforms In 2024 – Compare Top ETH Platforms

Ethereum (ETH) is the second-largest cryptocurrency after Bitcoin (BTC), with a market capitalization of $285 billion as of writing. The crypto asset has become a popular choice for new and experienced traders. As interest in ETH grows, finding the right Ethereum trading platform is crucial to trade the asset. Selecting a trading platform can be daunting, given the number of platforms in the market. This guide will look at some of the best Ethereum trading platforms and help you narrow your search.

We will look at several factors, such as ease of use, customer support, user interface, fees on the platform, and more.

Key Points

• Ethereum is the second-largest cryptocurrency by trading volume, behind only Bitcoin. 
• You can purchase ETH from several Ethereum trading platforms like eToro, Coinbase, Binance, and others. 
• Ethereum’s current market capitalization stands at $286 billion
• Bitcoin and Ethereum have a number of similarities but different long-term visions. 
• Ethereum has established itself as the foundation for several emerging technological advances. 
• It recently shifted from an energy-intensive Proof-of-Work consensus mechanism to a Proof-of-Stake mechanism.

Best Ethereum Trading Platforms 

Before we go any further in our guide on the best Ethereum trading platforms, let’s briefly introduce the platforms in question.

• eToro – Overall the best Ethereum trading platform, delivering a straightforward but comprehensive trading experience for beginners and experienced traders
• Coinbase – Licensed Ethereum trading platform popular with first-time buyers. However, fees on the trading platform are on the higher side, with a commission of 1.49%. Debit and credit card deposit fees are even higher at 3.99%. However, the platform offers a user-friendly interface and world-class security
• OKX – Low trading commissions and supports hundreds of cryptocurrencies apart from ETH. The platform also offers leverage Ethereum markets, including options, futures, and perpetual swaps
• Binance – World’s largest cryptocurrency trading platform based on trading volume. The platform supports hundreds of cryptocurrencies and charges just 0.1% per slide when trading ETH. Binance also offers staking, yield farming, and a savings account, allowing you to earn interest on your ETH
• Bitstamp – Well-established trading platform offering a secure and cost-effective way to buy ETH. The platform supports over 80 cryptocurrencies and staking facilities
• Kraken – Supports over 200 other cryptocurrencies. Traders can purchase cryptocurrencies instantly using a debit/credit card, with a commission of 0.26% per slide

Investments are subject to market risk, including the possible loss of principal. Virtual currencies are highly volatile. Your capital is at risk.

What Is Ethereum? 

Many crypto community members often assume Ethereum is in direct competition with Bitcoin. However, this is not the case, as Ethereum has different goals, features, and underlying technology. Bitcoin is touted as the future of money. Ethereum is much more. Ethereum can be described as a decentralized blockchain network powered by the native ETH token. The ETH token allows Ethereum users to transact and earn interest on their assets through staking, purchasing/using NFTs, trading crypto, and much more.

Experts have often described Ethereum as the next step in the evolution of the internet. If centralized platforms like the Google Play Store or Apple’s App Store define Web 2.0, decentralized networks like Ethereum represent Web 3.0. Anyone can use it to create any secure digital technology, while the ETH token can be used to pay for any work done to support the blockchain.

Ethereum is designed to be highly scalable, secure, programmable, and decentralized. It has established itself as the blockchain of choice for developers and enterprises creating technologies that can change how industries work. It also supports smart contracts, which are critical to implementing decentralized applications.

Ethereum was created by Vitalik Buterin as an answer to Bitcoin’s shortcomings, publishing its whitepaper in 2013. The whitepaper detailed smart contracts and automated immutable “if-then” statements that enabled the development of decentralized applications. While decentralized applications existed before Ethereum, platforms lacked interoperability. Buterin aimed to unify dApps and how they ran, as this was the only way to encourage and maintain adoption. This led to the creation of Ethereum 1.0.

Buterin and his co-founders, who included the likes of Gavin Wood, Charles Hoskinson, Jeffrey Wilcke, Mihai Alisie, Anthony Di Lorio, and Amir Chetrit, held a token presale and raised $18,439,086 to fund Ethereum’s development. The founders also created the Ethereum Foundation to develop and maintain the network. Buterin later announced that the Ethereum Foundation would run as a non-profit, causing some founders to quit the organization.

Best Ethereum Trading Platforms Reviewed 

This section of our guide on the top Ethereum trading platforms will take a closer look at the platforms mentioned above. Let’s get started!

1. eToro 

eToro is the overall best Ethereum trading platform in 2024. The popular platform is globally recognized and widely regarded as one of the most secure trading platforms for beginners and advanced users. This is because several entities regulate it, including the Financial Conduct Authority (FCA), the SEC, the CySEC, and ASIC.

Users on eToro can trade ETH and a plethora of other cryptocurrencies using eToro’s online trading platform or dedicated mobile application. The platform supports major cryptocurrencies such as Ethereum (ETH), Bitcoin (BTC), Cardano (ADA), Ripple (XRP), Litecoin (LTC), and several others. Besides crypto trading, eToro allows users to invest in traditional markets by offering stocks, commodities, indices, ETFs, and index funds. It also offers ready-made crypto portfolios, allowing traders to invest in a basket of tokens selected by experts.

The crypto portfolios are professionally managed, allowing you to earn passively without doing any research or technical analysis.

Fees On eToro 

eToro employs a flat fee structure, charging a 1% fee on all crypto trades. The platform also does not charge users any fee for holding their assets. This means users can hold their crypto assets for as long as they please. The minimum stake on the trading platform is $10. Additionally, traders can access fractional investing, meaning they can own a portion of an asset or stock. The platform also offers automated crypto trading tools such as yield farming and crypto staking for ETH. Additionally, traders can access a demo account to test their trading strategies before deploying them in the market.

Copy Trading 

eToro offers several unique and popular features. One such feature is Copy Trading. eToro Copy Trading allows you to mirror the trades of professional traders and earn passively through the trades they make. Copy Trading significantly reduces the amount of research one needs to do when investing in crypto.

However, it would help if you remembered that Copy Trading comes with its fair share of risks because there is no guarantee the trades will be successful. Additionally, the minimum requirement for Copy Trading on eToro is $200. That being said, you can choose from thousands of verified traders on the platform, depending on your trading goals.

eToro also offers features such as Smart Portfolios and Social Trading. Smart Portfolios allow traders to access an alternate investment avenue, with each portfolio comprising a selection of assets chosen by the eToro team. On the other hand, Social Trading allows traders to interact with each other, discuss market developments, and leave comments on discussions about assets.

Traders who want to make a long-term investment in ETH can do so using eToro’s secure wallet. The wallet is separate from the main trading platform, and users can seamlessly move their assets from the trading account to the wallet.

Investments are subject to market risk, including the possible loss of principal. Virtual currencies are highly volatile. Your capital is at risk.

2. Coinbase 

Coinbasr is beginner-friendly Ethereum trading platform. The platform was founded in 2012 and supports over 200 crypto assets, including Ethereum (ETH), Bitcoin (BTC), Tether (USDT), Litecoin (LTC), Solana (SOL), Stellar Lumens (XLM), MATIC, Ripple (XRP), and several others.

In fact, Coinbase also has the reputation of being one the best crypto exchanges in the US, as it offers traders access to over 500 crypto coins, including top trending cryptos, and new coins.

The platform is known for its security and reliability and has 56 million verified users as of August 2023. This figure is predicted to reach around 150 million by the end of 2023. Apart from the popular cryptocurrencies, the platform also offers less popular assets such as Maker, Band, Graph, and others.

Opening an account on Coinbase is simple and only takes a few minutes. The platform requires you to submit a government-issued ID card when signing up. The platform will verify this. Once the verification has been completed, you can deposit funds into your Coinbase account. Coinbase accepts several payment methods, such as debit cards and bank transfers. Transactions can be completed instantly when using a debit card to purchase crypto.

Fees On Coinbase 

Now, let’s take a closer look at the fees on Coinbase. Coinbase is regarded as one of the most expensive platforms for trading crypto. The platform charges a 3.99% fee when purchasing crypto using a debit card. Bank deposits are free. However, traders must pay a commission of 1.49% charged on buy and sell orders. Coinbase also offers users a dedicated day trading facility.

On the other hand, Coinbase Pro gives traders access to digital currency pairs that can be traded at lower commissions that start from 0.50% per slide. While this is expensive compared to other platforms in the market, It is far more competitive than the 1.49% charged by the platform.

Security 

When it comes to security, few are better than Coinbase. The platform is known for its robust security and offers the best security controls in the crypto ecosystem. It complies with US anti-money laundering and KYC regulations and keeps 98% of all client funds in offline storage. The platform also offers mandatory two-factor authentication and a 48-hour time lock on withdrawals, adding an extra layer of security.

Assets Supported 

Coinbase supports hundreds of cryptocurrencies and NFTs. It also allows traders to earn passively, offering an interest rate of up to 6% on eligible assets. Transfer and exchange methods are plenty, with bank transfers, debit/credit cards, and PayPal available. It also offers a simple, easy-to-use interface, making it convenient for beginners.

At the same time, the platform offers advanced tools and analysis that allow traders to track and compare crypto assets. This makes Coinbase an excellent choice for seasoned traders as well. The platform also supports several major currencies, including the USD, EUR, and GBP.

3. OKX 

OKX is widely considered one of the best Ethereum trading platforms in 2024. The platform currently offers 5% annually on flexible Ethereum accounts. Users can withdraw their ETH tokens at any time and access low trading commissions starting from just 0.1%.

Apart from Ethereum, OKX supports several prominent cryptocurrencies such as Bitcoin (BTC), Litecoin (LTC), Tether (USDT), Solana (SOL), Dogecoin (DOGE), Shiba Inu (SHBI), USD Coin (USDC), and several others. The platform offers users a self-custody wallet, a desktop trading platform, and a dedicated mobile app.

OKX also comes with many security features, such as Multiparty Computation (MPC) storage. It also offers users a decentralized exchange that allows them to buy and trade crypto anonymously, including ETH. It also doubles up as an aggregator, securing the best rates in the market. Lastly, it also offers leveraged Ethereum assets such as futures and options.

4. Binance 

Binance is the next platform in our guide on the best Ethereum trading platforms. It is the world’s largest altcoin trading platform in terms of trading volume and offers users access to several trading options. The platform offers users hundreds of cryptocurrencies, several crypto trading markets, and several major trading pairs. These include BTC/ETH and BTC/USDT. The platform is an excellent option for those looking to trade smaller altcoins.

Fees On Binance 

Binance charges extremely low fees when it comes to trading. While US-based traders pay slightly more, this is still lower than other crypto trading platforms. Trading fees on Binance start at just 0.10%. This can be reduced further if traders use the native Binance Coin. It also offers access to NFTs, allowing users to diversify and access the DeFi ecosystem.

Security 

Binance is a highly secure platform that uses two-factor authentication to secure trading accounts. It also utilizes address safelisting and device management. Additionally, customer funds are stored in cold storage, securing them from potential hacks. However, despite its position as the world’s largest crypto trading platform, Binance has had several run-ins with regulatory authorities in several jurisdictions.

UI And Trading Experience 

When it comes to tools, few can beat Binance. The platform offers several trading tools, such as real-time charting tools with moving and exponential moving averages. Users can place trades through the Binance website, desktop, or mobile application. They can also view their trading history, order book, portfolio, and price charts. Binance also offers different order types, such as stop-limit orders, stop orders, and trailing stop orders.

Regarding the user interface, users can access different views, such as Classic, OTC, and Margin.

5. Bitstamp 

One of the top-rated Ethereum trading platforms in 2024 is Bitstamp. Bitstamp is a global trading platform offering over 80 major cryptocurrencies, including Ethereum. Other cryptocurrencies include Bitcoin (BTC), Dogecoin (DOGE), and Ripple (XRP). Traders on Bitstamp can access high liquidity, low trading fees, and low latency order execution. Bitstamp also offers a user-friendly interface, making it an excellent choice for new traders who wish to buy and sell cryptocurrencies.

Bitstamp has something for advanced traders as well. Advanced traders on the platform can access features like leverage trading, real-time data analysis, and several others. These features allow traders to adjust their trading strategies quickly depending on market movements.

Bitstamp also employs robust security measures to ensure the security of user accounts and assets. The Luxembourg Financial Industry Supervisory Commission licenses the platform, thus meeting the EU’s payment services directive. Bitstamp also offers traders a dedicated mobile app, allowing them to trade on the move.

6. Kraken

If you’re looking to combine capital gains with regulate income – Kraken is one of the best Ethereum Trading platforms. This because the site offers users over 200 major cryptocurrencies, including ETH.

As of today, the platform has over 12 million users and is present in 190 countries. Major cryptocurrencies available on Kraken include Bitcoin (BTC), Ethereum (ETH), Solana (SOL), Polkadot (DOT), USDT, USDC, DAI, and several others.

The trading platform offers two distinct trading platforms, Kraken and Kraken Pro. Let’s look at each in a little more detail.

Trading Platforms

The Kraken trading platform is ideal for beginners and retail traders. Users can create an account, verify it, and instantly begin trading by filling out a simple form. Users can purchase ETH directly through their bank account and don’t have to fund their Kraken account to trade. All accounts are secured using 2FA, ensuring no unauthorized access to accounts.

Kraken Pro 

Kraken Pro is Kraken’s advanced trading platform, accessible through a web browser or smartphone. The platform allows traders to access far more details when trading, such as technical analysis tools and active charts. Any Kraken user can access Kraken Pro.

Fees

Fees on Kraken depend on the platform the trader is using and the trades they enter. Kraken charges a 0.9% fee on stablecoin transactions. When it comes to ETH transactions, the platform charges a flat fee of 1.5%, while NFT transactions attract a 2% fee. The platform charges a percentage fee for transactions, along with a spread. Transaction fees are displayed when confirming transactions. Any additional fee depends on the funding method.

Meanwhile, Kraken Pro charges lower fees than the main platform. The fees are based on the trader’s total trading volume over the past 30 days, although most trades on Kraken Pro are subject to a 0.26% taker and 0.16% maker fee.

Best Ethereum Trading Exchanges 

Several exchanges offer ETH as a tradable asset. Here is a list of Ethereum exchanges.

1. Binance 

Binance is the world’s largest exchange in terms of trading volume. The exchange offers users many avenues to purchase ETH, such as bank transfers, credit cards, and peer-to-peer trading. It also supports major currencies, including the US Dollar, the euro, the British Pound, the Canadian Dollar, and the Australian Dollar. Binance also allows users to fund their accounts using cryptocurrencies such as Bitcoin, Ethereum, and the native Binance Coin.

However, due to regulatory issues, US-based users cannot use Binance’s main platform. As a result, Binance has created a separate platform, Binance.US, for its US-based customers. However, this platform is not available in all US states.

2. Kraken 

It is a US-based crypto exchange that was launched in 2011. The exchange supports several fiat currencies such as USD, EUR, AUD, Swiss Franc, JPY, and more. It also supports credit cards and wire transfers. The exchange supports ETH, BTC, LTC, ADA, and others if you want to deposit crypto.

3. Coinbase 

Coinbase is the largest crypto platform in the US. The platform offers a simple trading interface through its primary platform. Meanwhile, experienced traders can use the platform’s advanced trading interface with Coinbase Pro. Coinbase is also the only publicly listed crypto platform in the US. Users can make deposits using debit or credit cards and bank transfers.

Best Ethereum Trading Apps 

1. eToro 

eToro offers a dedicated mobile app, giving users a seamless trading experience. The app focuses on ease of use and functionality and offers nearly the same features as the main trading platform. eToro offers two apps, the primary eToro app and the eToro Money app, both available on the Google Play Store and Apple App Store. The app has the same functionality as the web platform and other useful functionalities, such as light and dark mode.

The eToro app also offers synced watchlists, unifying the trading experience across multiple devices. Additionally, the charts offered on the app are extremely responsive. However, compared to 67 on the web platform, it only offers five indicators. The app also lacks drawing tools.

Downloading and installing the app is relatively straightforward. Once logged in, the app automatically syncs with the user’s eToro account, allowing users to buy, sell, and trade crypto on the go. Users can also check the value of their portfolio and make quick adjustments to their trades.

2. Gemini 

Gemini was founded by the Winklevoss twins and is one of the most secure trading platforms in the market. The platform requires two-factor authentication for all accounts, and all user funds are held in cold storage to ensure security. What’s more, all assets stored in hot wallets are insured. Gemini was one of the first platforms to obtain SOC1 Type 1 and SOC2 Type 2 certifications for its hardware security modules that generate and store keys internally. This is why Gemini is widely regarded as one of the best platforms when it comes to security.

3. Binance 

The Binance trading platform is the largest in the world by trading volume. The platform’s trading app is not far behind, supporting over 200 cryptocurrencies, including ETH. The platform’s Secure Asset Fund for Users keeps 10% of all trading assets in a cold wallet. The Binance trading app also allows users to access trading options apart from cryptocurrencies, such as futures and options.

4. Coinbase 

Coinbase offers a seamless mobile application that allows traders to access ETH and several major cryptocurrencies. New users also have the chance to receive a bonus when they sign up. While the app may offer fewer assets than others on our list, its security features make it an appealing choice. App users can access tokens such as Bitcoin Cash, Bitcoin, Ethereum, Ethereum Classic, Litecoin, USD Coin, Basic Attention Token, and several others.

Users can deposit funds using the app in several ways, such as credit/debit cards and bank transfers. The Coinbase app allows users to disable their app if their device is lost, stolen, or compromised. It can also be used as a learning hub, helping new traders expand their knowledge of the crypto space. The app gives users access to various educational resources that can be used to make informed trading decisions.

How To Start Trading Ethereum? 

In this section of our guide on the best Ethereum trading platforms, we will show you how to sign up on a crypto trading platform and trade ETH. We will document the entire account creation process and show you how to execute your first trade. For our example, we will be using eToro as the chosen platform.

Step 1: Create An Account 

The first step is to create an account. To create an account, go to the eToro website and click the “Create Account” button. You will then be prompted to enter your email ID and create a strong password for your eToro account.

Step 2: Upload ID And Documentation 

Once you have created your account, you must provide eToro with personal details and documentation. These would need to be verified by eToro to comply with KYC and AML regulations. Personal information includes your name, phone number, email address, date of birth, and country of residence. You must also provide a government-issued ID and proof of address, such as your bank statement or utility bill.

Step 3: Deposit Funds 

After your account has been verified, you can deposit funds into it. eToro requires a minimum deposit of $20 to begin trading. The platform supports several payment methods, including debit cards, credit cards, bank wire transfers, and e-wallets such as PayPal, Neteller, and Skrill. USD deposits do not attract a deposit fee on eToro. However, deposits made in other currencies attract a 0.5% deposit fee.

Step 4: Search For Ethereum 

After you fund your account, you can begin trading. To begin trading, search for the asset you want to trade. You can browse available assets using the platform’s “search” function. To access the search function, click on “Trade Markets” and then “Crypto” and begin searching.

Step 5: Place Your ETH Trade 

The final step is to place your trade. Once you have found the asset you want to trade, click on the “Trade” button as shown in the example below. After entering the required information, click the “Open Trade” button and place your order.

Investments are subject to market risk, including the possible loss of principal. Virtual currencies are highly volatile. Your capital is at risk.

Is ETH Trading Risky? 

Ethereum is the second-most popular cryptocurrency after Bitcoin, making it a highly lucrative asset when trading. However, the cryptocurrency ecosystem is notorious for being highly volatile, and this has an impact on ETH as well. This is why it is crucial to thoroughly research before investing in ETH. Always read about market sentiment and potential factors that could impact the price of ETH before investing. ETH is currently trading at a price of $2208.

Conclusion 

This wraps up our guide on the top Ethereum trading platforms. In this guide, we have discussed the best Ethereum trading platforms and how they stack up against one another, their features, platform fees, and the pros and cons of each. We highly recommend eToro as the platform to start trading ETH with. You can get started on the platform for as little as $10. Account creation takes only a few minutes, and the platform accepts a number of payment methods.