How to buy Ethereum in Australia
As mentioned above, the best way for Aussie investors to buy Ethereum (ETH) is by using the eToro exchange. eToro offers free and instant AUD deposits via several payment methods, including POLi, Bank Transfer, Credit Card, Debit Card, PayPal, Skrill & Neteller.
Begin trading Ethereum with this walkthrough guide:
- Open a free account on eToro and complete the verification requirements.
- Tap 'Deposit Funds' and transfer Australian dollars through one of the methods.
- Go to the search bar, type in ‘Ethereum’ and click ‘Trade’.
- Input the amount you want to spend on ETH and click ‘Open Trade’.
Buying Crypto Fees
Most digital asset exchanges will charge multiple fees to invest in cryptocurrencies. eToro does not charge any fees to deposit AUD to their platform. The only fee is the 1% trading fee, a commission taken when you buy or sell tokens. Aside from that, the only additional cost is the withdrawal fee, which is capped at $5 per transaction.
Why is Ethereum so Popular?
ETH has gained significant popularity due to its unique combination of innovative features and strong supportive community. As the second-largest crypto by market cap, Ethereum is built on a versatile blockchain that facilitates the development of dApps and smart contracts.
These functions have revolutionised the digital landscape, enabling the creation of a wide array of use cases, from DeFi platforms to NFTs. The ETH blockchain currently has over $30 billion in Total Value Locked (TVL) - making it the largest smart contract platform in the world.
Should I buy ETH?
ETH presents a promising investment opportunity due to its innovative technology, robust ecosystem, and growth potential. As the leading decentralised platform for building and deploying smart contracts, Ethereum has established itself as a key player in the rapidly expanding blockchain space.
With the successful implementation of Ethereum 2.0, the network has transitioned to a more environmentally friendly and scalable proof-of-stake consensus mechanism, addressing previous concerns about energy consumption and transaction throughput. However, before making any investment decision, it is important to consider your personal financial goals and risk tolerance.
Ethereum is an open-source, decentralised blockchain platform that enables the development and deployment of smart contracts and decentralised applications (dApps). Launched in 2015 by Vitalik Buterin, Ethereum has revolutionised the blockchain space by introducing programmable, self-executing agreements, which remove the need for intermediaries in various industries.
As the second-largest cryptocurrency by market capitalisation, Ethereum's innovative technology fosters a thriving ecosystem of DeFi projects, NFTs, and digital identity solutions, continually shaping the future of Web3.
To summarise, Ethereum is one of the most popular tokens in the world and is supported on every crypto exchange. Australians looking to invest in Ethereum should consider using eToro, a secure and licensed platform that provides a user-friendly experience and competitive fees. eToro is regulated by both the ASIC and AUSTRAC in Australia.