💱 Overview of ETH Acquisition Methods
Ethereum (ETH) is the second most popular cryptocurrency in the world and the main currency for working with the Innovestia. In this section, we will explore in detail all available methods of acquiring ETH, their features, advantages, and disadvantages, so you can choose the optimal method for your specific situation.
📊 Main Methods of Buying Ethereum
1. 🏦 Centralized Cryptocurrency Exchanges
What they are: Online platforms where you can buy, sell, and exchange cryptocurrencies for fiat money (dollars, euros, etc.) or other cryptocurrencies.
Popular exchanges:
- Binance — the largest global exchange with huge trading volume
- Bybit — popular exchange with a user-friendly interface
- OKX — platform with a wide range of trading tools
- Huobi — exchange with many years of history
- Gate.io — platform supporting numerous altcoins
Purchase process: 1. Registration and verification on the exchange (KYC) 2. Depositing funds with fiat money 3. Buying ETH on the spot market or through the conversion function 4. Withdrawing ETH to your personal MetaMask wallet
Advantages:
- ✅ High liquidity and stability
- ✅ Low fees (usually 0.1-0.5%)
- ✅ Multiple deposit methods (bank cards, transfers, electronic payments)
- ✅ Additional services (staking, lending, etc.)
- ✅ Constant availability of cryptocurrency
Disadvantages:
- ❌ Mandatory identity verification (KYC)
- ❌ Centralized storage of funds during the exchange process
- ❌ Possibility of account blocking
- ❌ Risk of exchange hacking (although major exchanges have reliable protection)
Who it's suitable for: This method is ideal for most users, especially beginners, thanks to its ease of use and reliability. Also suitable for regular purchases and large amounts.
2. 👥 P2P Platforms (Peer-to-Peer)
What they are: Services where users directly buy and sell cryptocurrencies from each other, without intermediaries.
Popular P2P platforms:
- Binance P2P — P2P section on the Binance exchange
- LocalCryptos — decentralized P2P platform
- Paxful — international P2P platform
- LocalBitcoins — one of the oldest P2P platforms (supports ETH)
- Hodl Hodl — P2P platform without KYC
Purchase process: 1. Registration on the P2P platform (often possible without full verification) 2. Finding a suitable offer from sellers 3. Transferring money to the seller through the chosen payment method 4. Receiving ETH after seller confirmation
Advantages:
- ✅ Multiple payment methods (bank transfers, electronic wallets, cash)
- ✅ Possibility to buy without full identity verification (on some platforms)
- ✅ Direct transaction between buyer and seller
- ✅ Possibility to find a favorable exchange rate
- ✅ Availability in countries with cryptocurrency restrictions
Disadvantages:
- ❌ Higher fees and markups (3-8%)
- ❌ Risk of fraud from dishonest sellers
- ❌ Longer transaction completion time
- ❌ Need to follow seller instructions
- ❌ Lower liquidity for large amounts
Who it's suitable for: Users who value privacy, don't have access to traditional banking services, or are in countries with cryptocurrency restrictions. Also a good option for those who want to use alternative payment methods.
3. 💳 Instant Purchase via Card
What it is: Services that allow you to purchase cryptocurrency directly with a bank card in just a few minutes.
Popular services:
- MoonPay — integrated with many wallets and exchanges
- Simplex — partner of many cryptocurrency projects
- Transak — supports multiple payment methods
- Ramp — service with minimal verification
- Mercuryo — low fees and fast transactions
Purchase process: 1. Choosing a purchase service (through MetaMask or directly) 2. Specifying the purchase amount and wallet address 3. Entering bank card details 4. Completing quick verification (often only a document photo is required) 5. Receiving ETH in your wallet
Advantages:
- ✅ Maximum speed and simplicity (5-15 minutes)
- ✅ Direct purchase to personal wallet without intermediate steps
- ✅ Minimal verification requirements
- ✅ Availability in almost all countries
- ✅ Intuitive process for beginners
Disadvantages:
- ❌ High fees (5-8%)
- ❌ Less favorable exchange rate
- ❌ Limited purchase limits
- ❌ Possible bank refusals to process the transaction
- ❌ Requires a bank card that supports international payments
Who it's suitable for: Beginners who want to quickly and easily acquire ETH, as well as those willing to pay an additional fee for convenience and speed.
4. 🏧 Cryptocurrency ATMs
What they are: Physical terminals where you can buy cryptocurrency with cash.
Popular crypto ATM networks:
- Bitcoin Depot
- CoinFlip
- CoinCloud
- Bitcoin ATM Radar (service to find the nearest crypto ATMs)
Purchase process: 1. Finding the nearest crypto ATM that supports ETH 2. Entering your MetaMask wallet address 3. Depositing cash 4. Receiving ETH in your wallet
Advantages:
- ✅ Anonymity (often requires minimal or no verification)
- ✅ Cash payment option
- ✅ Instant purchase
- ✅ Physical presence (for those who don't trust online services)
Disadvantages:
- ❌ Very high fees (7-15%)
- ❌ Limited availability (not in all cities and countries)
- ❌ Limits on purchase amount
- ❌ Don't always support ETH (more often only BTC)
- ❌ Often poor exchange rate
Who it's suitable for: Users who prefer anonymity and have access to cash, as well as those who don't want to conduct transactions over the internet.
📈 Comparative Table of ETH Purchase Methods
| Method | Speed | Fees | Anonymity | Beginner Friendliness | Limits | Security |
|---|---|---|---|---|---|---|
| Centralized Exchanges | Medium | Low (0.1-0.5%) | Low | High | High | High |
| P2P Platforms | Low | Medium (3-8%) | Medium | Medium | Medium | Medium |
| Card Services | High | High (5-8%) | Low | Very High | Low | High |
| Crypto ATMs | High | Very High (7-15%) | High | Medium | Low | High |
🔍 How to Choose the Optimal Method?
🔰 For Beginners
If you're just getting started with cryptocurrencies, we recommend the following options: 1. For quick purchase of a small amount — instant purchase via card (MoonPay, Simplex) 2. For regular purchases — centralized exchanges (Binance, Bybit)
🕵️ For Privacy-Conscious Users
If privacy and minimizing personal data collection are important to you: 1. Using cash — crypto ATMs 2. Via internet — P2P platforms with minimal verification requirements
💰 For Minimizing Fees
If your goal is to buy ETH with minimal commission costs: 1. Large amounts — centralized exchanges with subsequent withdrawal during periods of low network congestion 2. Small amounts — P2P platforms with bank transfer
⚡ For Maximum Speed
If you need to get ETH quickly: 1. Online purchase — instant card purchase services 2. Offline purchase — crypto ATMs (if available in your region)
🛡️ Tips for Safely Buying ETH
Check service reputation
- Use only proven platforms with good reviews
- Pay attention to how long the service has been on the market
- Check for licenses and regulatory approvals
Ensure account security
- Always use two-factor authentication (2FA)
- Create unique and complex passwords for each service
- Don't store large amounts on exchanges for extended periods
Be careful with addresses
- Always double-check the wallet address before sending
- Use copy/paste function instead of manual entry
- Send a test small amount before a large transfer
Protect your financial data
- Use secure connection when buying (HTTPS)
- Don't save card data on websites
- Consider using virtual cards for online purchases
Consider additional expenses
- Service deposit fees
- ETH purchase fees
- ETH withdrawal fees (especially important during periods of high network congestion)
- Currency conversion fees
❓ Frequently Asked Questions
💲 What is the minimum amount to buy ETH?
The minimum amount depends on the platform:
- On exchanges usually from $10-20
- In instant purchase services from $30-50
- In crypto ATMs from $20-100
- On P2P platforms depends on the seller (can be from $5)
⏱️ How long does it take to buy ETH?
- Instant purchase via card: 5-15 minutes
- Crypto ATMs: 5-20 minutes
- Centralized exchanges: from 30 minutes to several hours (depends on deposit method)
- P2P platforms: from 15 minutes to several hours (depends on seller response speed)
🔎 Do I need verification to buy ETH?
In most cases yes, especially when using centralized exchanges and instant purchase services. The level of verification depends on the amount:
- Minimal verification (email, phone) — for small amounts
- Basic verification (ID documents) — for medium amounts
- Extended verification (address confirmation, video verification) — for large amounts
🚫 What to do if the bank blocks payments to a crypto exchange?
- Contact the bank to find out the reason for the block
- Use alternative deposit methods (electronic wallets, money transfers)
- Consider P2P platforms with various payment methods
- Use another bank that is more loyal to cryptocurrency operations
📉 How to get the best exchange rate?
- Compare rates on different platforms before buying
- Avoid buying during periods of high market volatility
- Use limit orders on exchanges instead of market orders
- On P2P platforms, look for offers with the most favorable rate
📝 Conclusion
The choice of method for buying ETH depends on your individual needs, priorities, and circumstances. Beginners are recommended to start with centralized exchanges or instant purchase services, which provide the best balance between ease of use and security.
Once you've decided on a purchase method and acquired Ethereum, you'll be ready for the next step — investing in the Innovestia.
In the following sections, we will explore each of the ETH purchase methods in detail and provide step-by-step instructions for each of them.