If you are at least a little familiar with cryptocurrencies, then you must have heard about Ethereum. It is the second most popular coin and is often referred to as the Bitcoin killer by crypto enthusiasts since ETH has some advantages over BTC. At the time of writing, the cost of 1 Ethereum is €2,766, and the total capitalization is €333,726,791,632.
Ethereum serves as a means of payment for goods or services and for short-term investments. If you are already interested in this cryptocurrency, read this article further, in which we will tell you how to buy Ethereum in the UK.
Meaning of Ethereum (ETH)
Ethereum is a decentralized computing platform with the same-name cryptocurrency. You can use the Ethereum network, like Bitcoin, to transfer funds. Yet, the capacities of this technology are much wider.
In 2013, Vitaliy Buterin and Gavid Wood presented their Ethereum network project. They suggested using cryptocurrency both as a payment and data exchange method within web services operating in the same peer-to-peer network. In 2015, the Homestead protocol was launched – the Ethereum network went live.
Today, many investors know Ethereum as a platform for creating decentralized applications and smart contracts. The latter became a real revolution in the global financial sector. Smart contracts provide automatic execution of a transaction when certain conditions are met. Since the smart contract exists on the blockchain, it cannot be changed or canceled.
In addition, Ethereum remains a popular cryptocurrency accepted by stores and services around the world. So why do many people ask how to invest in Ethereum UK? The reason lies in the nature of cryptocurrencies. Their value directly depends on the distribution and popularity of the technology behind a certain coin.
Ethereum has gained a lot of popularity and continues to be used by the largest financial projects, so its value is growing. Accordingly, many consider ETH a profitable investment and want to know how to buy Ethereum UK to expand their portfolios.
Where can you buy Ethereum in 2022?
Today, there are several options where you can buy Ethereum. Let’s consider them in more detail.
- Online exchangers. This is an easy way for beginners. Find a reliable exchanger and choose a currency pair (for example, you want to buy ETH for GBP). Next, you specify the amount you want to spend or receive as a result of the transaction, pay the invoice, and wait for the confirmation of the transaction. The proposed exchange rate already includes a service fee, or it is indicated separately and can be 2-4%.
- Built-in exchangers in mobile wallets. TRASTRA offers precisely this kind of solution. Right in your crypto wallet, you can buy and sell ETH for euros with a minimum commission, which depends on the speed of the transaction. Buying ETH takes just a few clicks at the best rate.
- Crypto exchanges. This is a more advanced way for those looking for how to buy and sell Ethereum UK to make money on the difference in rates. Crypto exchanges provide a platform for trades between participants. The seller opens an order to sell Ethereum at a certain rate, and the buyer may agree to conclude the deal. Exchanges have a more complex interface than exchangers and usually have trading and non-trading fees.
- P2P exchange. P2P sites offer direct exchange between users. One user wants to sell Ethereum, and the buyer responds to such an offer. The site acts as a guarantor of the transaction. The seller sets the rate, so if you are looking for the cheapest way to buy Ethereum UK, this method will not work for you, or you will have to wait a very long time for a suitable offer.
So which is the best way to buy Ethereum UK? If you want to buy cryptocurrency quickly, reliably, and at a favorable rate, the built-in exchanger in the TRASTRA crypto wallet is the best option. You buy and sell cryptocurrencies in just a few clicks, and the commissions are minimal.
How to invest in Ethereum in the UK in 2022?
The first thing you need is an Ethereum address. You can create an address directly in your TRASTRA mobile wallet or any other app you want to use to store your cryptocurrencies. The address is generated randomly and consists of a set of numbers. This is an analog of a bank account in which you can keep funds.
Next, you choose one of the ways to buy Ethereum described above. The principle of buying ETH everywhere, except for crypto exchanges, is approximately the same. Indicate your wallet address, the amount you want to buy or are ready to give, and pay the invoice in euros, pounds sterling, dollars, or cryptocurrencies. You can pay with your bank card or any payment service. After a while, ETH is credited to your Ethereum wallet.
In the case of a crypto exchange, you first need to open an account, go through verification, deposit the selected currency, and then open your buy order or find a proper sell order. After the transaction is completed and the coins are credited to your account on the exchange, you can withdraw them to your Ethereum address or leave them on the exchange account for further trading.
Ethereum price prediction for 2022
During the first months of 2022, Ethereum experienced both growth and decline after a sharp rise in November 2022. According to the chart on Coinmarketcap, the lowest Ethereum rate in 2022 was on January 24 (€1,774), after which the price began to rise slowly but steadily. Some experts believe that the maximum value of Ethereum in 2022 will be around €3,000, and in 2023 it could increase to €4,000. However, it is worth remembering that cryptocurrencies are highly volatile assets and largely depend on market news. Ethereum is no exception, and any predictions may not come true.
Pros and cons of buying ETH in 2022
If you are still in doubt about whether to buy Ethereum, we have prepared a brief analysis of the advantages and disadvantages of investing in this cryptocurrency. Read them before looking for the cheapest way to buy Ethereum UK.
Pros of investing in Ethereum
- It is the second most popular cryptocurrency globally, with a large community. Ethereum has many users, and Vitalik Buterin, the creator of this crypto project, is highly respected worldwide.
- Ethereum is backed by real technology. One of the main advantages of Ethereum is that it is not just another crypto coin but a technology that has revolutionized the world.
- Ethereum has been growing steadily over the past years. Despite temporary drops, the general trend of this cryptocurrency is stable growth.
- Launch of Ethereum 2.0. It is assumed that ETH2 will be launched by the end of 2022 or at the beginning of 2023, which will undoubtedly affect the cryptocurrency’s price. ETH2 will mark the transition from the Proof of Work protocol to Proof of Stake.
Cons of investing in ETH
- Some developers abandon Ethereum. In 2021, the Ethereum network was overloaded, and users faced very high fees. Because of this, some dApp developers have moved to other networks.
- Other platforms for creating smart contracts have emerged. Ethereum is no longer unique. Projects like Cardano and Binance Coin offer even cheaper smart contract platforms. This breeds competition and affects the value of ETH.
Final thoughts about Ethereum in 2022
Ethereum is a popular cryptocurrency and a platform for creating decentralized applications and smart contracts. Ethereum continues its development, and the price of ETH is growing. If you are confused about how to buy Ethereum UK, try the TRASTRA crypto wallet. With a user-friendly smartphone app, you can buy and sell ETH with minimal fees in just a few clicks. The application is available for Android and iOS and has high user protection standards. Try it yourself!
How do I purchase Ethereum?
Open your TRASTRA wallet, specify how many coins you want to buy, and pay for the purchase from your euro account. The transaction will be completed almost instantly. You can also choose another reliable crypto exchanger, P2P platform, or crypto exchange.
What is the easiest way to buy Ethereum?
The easiest way to buy ETH is the built-in exchanger in the TRASTRA wallet or other crypto wallet. You can complete a transaction with just a few clicks.
Is Ethereum worth buying?
Ethereum is a dynamically developing and popular cryptocurrency with good prospects. However, we cannot advise you to buy or not to buy ETH since all cryptocurrencies are highly volatile, and you bear the risks of investing in such assets yourself.