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An exchange is a marketplace in which securities, commodities, derivatives, and other financial instruments are traded. 

Virtual currency exchanges allow their customers to trade virtual currencies – usually for other virtual currencies, but also for other assets such as fiat money.

Most trades on these virtual exchanges occur on a peer-to-peer basis. However, some exchanges permit the direct purchase of Ether at market price. In others, the user is permitted to dictate what they are able to pay through the exchange’s buy-and-sell mechanism.

Which Exchange Do I Use?

Different exchanges may offer a variety of functions. Some may accept credit card payments, wire transfers, postal money orders, or other forms of payment (such as another virtual currency), in exchange for Ether or other virtual currencies. They may offer different security protocols. Many exchanges also offer a wallet function to store Ether or another virtual currency.

Read also: Do We Really Need So Many Crypto Exchanges?

The best exchanges to purchase Ether with fiat currency are:

  1. GDAX
  2. Gemini
  3. Coinbase
  4. Kraken
  5. Bitfinex
  6. CEX.io
  7. EXMO
  8. Livecoin
  9. BTC-E

GDAX

GDAX is a Coinbase product and one of the exchanges that allow you to buy Ether with fiat. The exchange offers a user-friendly interface for an easier trading experience. Users can transfer funds into their accounts using an ACH deposit and bank transfer. They can also gain instant funds by adding a debit or credit card. Coinbase is also insured, which prevents any compromises to the prices of the virtual currencies, as well as protecting users’ funds.

 

Support ETH
Mobile Yes (iOS and Android)
Withdrawals ACH Deposit, Bank Transfer
Deposits ACH Deposit, Bank Transfer
Security Offline storage, 2FA for each device, offline backups
Licensed Yes
Offices San Francisco, CA

Gemini

Gemini brings the first-ever licensed, fully regulated exchange for Ether users. Founded by Tyler and Cameron Winklevoss, the exchange has made acquiring Ether easier than ever through ACH deposits. Users will have to go through a lengthy verification before moving on to the easy-to-use interface. Gemini is currently open for trading in 36 states.

 

Support ETH
Mobile Yes
Withdrawals ACH deposit, Bank Transfer
Deposits ACH deposit, Bank Transfer
Security Offline storage, Multi-sig technology, 2FA, Encryption
Licensed Yes
Offices New York, NY

Coinbase

One of Bitcoin’s more popular wallets also supports Ethereum. Users must add their bank account in order to purchase Ether; these transactions would take approximately five business days to complete. However, if a user needs Ether right away, they can add their credit or debit information for instant purchase. Coinbase also offers a mobile app. Security features include a MultiSig Vault to safely secure coins.

 

Support ETH
Mobile Yes (iOS and Android)
Withdrawals ACH Deposit, Bank Transfer
Deposits ACH Deposit, Bank Transfer
Security Offline storage, 2FA for each device, offline backups
Licensed Yes
Offices San Francisco, CA

Kraken

Since launching in 2013, Kraken established itself as one of the safest and dependable exchanges on the market. Its user-friendly design allows beginners to trade with ease while instructing others how to use the more advanced model. Users can buy their Ether through the market and limit orders as well as stop-loss/take profits orders.

 

Support ETH, ETC
Mobile Yes (iOS)
Withdrawals US Residents – Bank Transfer; Non-US Residents – PayCash SEPA/SWIFT
Deposits US Residents – SynapsePay/Bank Transfer; Non-US Residents – PayCash SEPA/SWIFT
Security Offline storage, 2FA, Email confirmations, Encryption
Licensed Yes
Offices San Francisco, CA

Bitfinex

This Hong Kong-based exchange offers three different functions for trading, each with its own wallet to help align your funds. Users can order their Ether through the market and limit trading, as well as stop loss. Users can also trade mobile through their iOS or Android app. *US residents are restricted from use on this site.

 

 

Support ETH, ETC
Mobile Yes (iOS and Android)
Withdrawals Bank Transfer
Deposits Bank Transfer
Security Automatic backup, 2FA
Licensed No
Offices Hong Kong

CEX.io

With over 600,000 registered users, CEX.io has proven to be one of the strongest altcoin exchanges in the world. It’s one of the few exchanges that accept Visa/Mastercard for a USD deposit if they do not want to wire their money. Just be aware, deposits take up to 15 days to process while withdrawals may take up to 20 days. The exchange’s simple interface makes it easy for beginners to buy and sell their ether. CEX.io also offers an iOS and Android app for those users on the go.
Support ETH
Mobile Yes (iOS and Android)
Withdrawals Bank Transfer
Deposits Visa/Mastercard or Bank Transfer
Security 2FA, Offline storage, SSL Certificate, Encryption
Licensed Yes
Offices London, UK

EXMO

Exmo employs programmers based in India, Russia, Spain, and Thailand as well as advisors in England, Lithuania, Singapore, and the United States. All working 24/7 to secure the safety of your funds. For additional support, Exmo provides an online chat that supports several languages. US residents have a wide variety of options to deposit their USD. The popular choice is to wire the money. However, users can also choose different payment providers such as Neteller, Perfect Money, and Money Polo.
Support ETH
Mobile No
Withdrawals Bank Transfer, Neteller, Perfect Money, MoneyPolo, OKPAY
Deposits Bank Transfer, Neteller, Perfect Money, Money Polo, OKPAY
Security Offline storage, 2FA, SSL Certificate, Encryption
Licensed No
Offices Barcelona, Spain

Livecoin

Livecoin began as a small exchange, only accepting Bitcoin and Litecoin. Now it handles over 60 different trading pairs, including three with Ethereum. The user-friendly platform allows even a beginner virtual currency trader to feel like an expert. As with most exchanges, users must pay a fee when depositing fiat currency. The same with withdrawals. However, Livecoin is associated with multiple payment services to make it easier for their customers.
Support ETH
Mobile Yes
Withdrawals Bank Transfer, Perfect Money, PayPal, OKPAY, Payeer, Capitalist
Deposits Perfect Money, OKPAY, Payeer, Capitalist, Bank Transfer
Security Basic – Pin, Email Code; Advanced -2FA
Licensed No
Offices London, UK

BTC-E

Since launching in 2011, this original bitcoin exchange is one of the oldest on the market. It has since grown to become one of the most popular exchanges that support multiple virtual currencies. As of right now, BTC-E is the leading exchange for ETH/USD trading pairs based on its volume. The customer’s safety is a must which is why BTC-E complies with KYC and AML regulations. In consideration of international customers, the website is available in three languages: English, Chinese, and Russian.
Support ETH, ETC
Mobile Yes
Withdrawals Wire Transfer, Perfect Money, PayPal, OKPAY, MoneyPolo
Deposits Perfect Money, OKPAY, MoneyPolo
Security Google Authenticator (2FA)
Licensed No
Offices Cyprus

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