If you don’t have any Ethereum, then you’ll need to read this guide on picking the best exchange for you. Whether it’s a fast exchange for small-time users, or a big exchange for active traders, we cover all of the viable Ethereum wallet exchanges here. On the other hand, existing readers who already own Ethereum can benefit from reading this guide by increasing their knowledge of which exchanges to use for their Ethereum wallet. Your Ethereum is worth quite a lot, and picking a good exchange is important. There are a variety of fees and risks that make this process vital for long-term goals.
Popularity of Exchanges
The popularity of exchanges is one important factor to consider. If an exchange is unpopular, it is likely going out of business and your coins are at risk. More importantly, there is unlikely to be any liquidity in the Ether order books on these kinds of companies. Coinmarketcap’s exchange popularity web page shows that Poloniex is the leader in Ethereum trade volume. While it is the most popular option, it is also a sketchy website. Since we’re assuming you’re using ethereum-wallet.net, all Ethereum exchanges are compatible. The company is not at all transparent, as they are secretly operated by individuals who have not been verified by any large entity. This is shortly followed by Kraken, which is very popular in Europe. So if you’re European, it is a very good idea to sign up and get verified at Kraken. Kraken is favoured over Poloniex for Europeans because of the trust placed in the exchange by big investors.
Poloniex – A big Ethereum Exchange
The only advantage Poloniex has over Kraken is its anonymity and trading liquidity. It’s an impressive feat that Poloniex has achieved, to have become one of the industry leaders for ethereum wallet users to trade at. Despite negative press regarding Polo’s adoption of Ethereum Classic, the trading community still heavily favors the anonymous website. In case you didn’t know, ETC is the classic chain of Ethereum. Poloniex decided to add this coin, causing controversy across the Ethereum community as the prices pumped up. This left hard-fork supporters with distaste for the exchange. Regardless of which side you are on, it is best to not leave too much ETH in Polo. Every exchange will eventually have issues, and it’s best not to get involved with those problems.
A fast Ethereum Wallet Exchange
A very fast Ethereum exchange is called Shapeshift, and it provides the most convenient way to trade your Ethereum for other coins at a low cost. Even better, there’s no need for sign-up! Users can stay anonymous on the exchange by accessing the site through a VPN such as TOR browser. It’s a very safe, fast, and easy way to trade your Bitcoins or Ethereum for other coins. Shapeshift is founded by Erik Vorhees and his team. Erik has previously founded Satoshi Dice, one of the largest betting sites for Bitcoin. It was later sold for millions. Shapeshift has received widespread media attention from the community, and is a highly valued and trusted exchange. It works by placing offers for you at various exchanges, so you don’t have to. The only downside to this ethereum wallet exchange is that there is a constant limit of roughly 100 Ether ($1000) to be traded at once. Big money is unsuitable for this exchange. To put it lightly, there just isn’t enough liquidity for larger orders.
How do I get BTC to buy ETH in the first place?
It’s interesting that the market leader in the cryptocurrency industry is still Bitcoin’s price. Most users will need to first purchase Bitcoins through websites like LocalBitcoins. Then, Ethereum can be easily bought. LocalBitcoins is one of the oldest exchanges in the industry, and is suitable for many people. Canadians can use QuadrigaCX, and Americans can use Coinbase. After receiving Bitcoins, simply use one of the recommendations above to invest in Ethereum. It is useful to research which exchange is right for your country to purchase Bitcoin first.