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Buy Ethereum in the UK

Ethereum

ETH
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Figures shown refer to the past. Past performance is not a reliable indicator of future results. Pricing data is sourced from CoinJar's proprietary price index, which considers prices on CoinJar Exchange and third parties including Coinbase, Kraken, Gemini, Bitstamp, CoinMarketCap and CoinGecko.
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Overview

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What is Ethereum?

What is Ethereum?

Ethereum is the second-biggest cryptocurrency by market cap and the crypto that pioneered the broader use of blockchain as a technology.

Created in 2015 by 19-year-old prodigy Vitalik Buterin, Ethereum inverted the Bitcoin model, emphasising the blockchain over the currency itself. If blockchains could verify monetary transactions, then why not shipping manifests, airline bookings, website code or home ownership?

Ethereum in popular culture

Buy ETH because it's cool? How pop culture is absorbing Ethereum

Ethereum and its related concepts have started to seep into pop culture. If you were considering a crypto that the cool kids like, buying Ethereum might interest you.

Futurama and Ether

Futurama, the animated sci-fi comedy series, has mentioned Ethereum more than once.

And of course, you can buy an NFT of Viterlik Buterin’s head in a Futurama-style vase.

Culture and Ether

Vitalik Buterin, founder of Ethereum, has become a celebrity in his own right. And, he is becoming known as quite the fashion leader.

These kinds of pop culture appearances helped to raise awareness and interest in Ethereum and other cryptocurrencies among the general public, especially the younger generation. And this just makes buying ETH seem like a fun thing to do!

Buying ETH because of the developers behind it

Ethereum’s biggest innovation in this respect was what Buterin termed ‘smart contracts’ – programmable and unalterable contracts that would auto-execute when certain conditions were met.

This idea meant Ethereum could become the first true blockchain platform: A blockchain upon which decentralised apps and blockchains could be built.

Participants pay so-called “gas” fees to use the network, which are denominated in Ethereum’s native cryptocurrency, Ether (ETH). The more demand there is, the higher the gas fees.

While there’s no hardcoded upper limit on the amount of ETH to be created like there is with Bitcoin, Ethereum has introduced a mechanism that means a certain amount of ETH is burnt in every transaction, helping to reduce inflationary pressures. It’s predicted that over time this will lead to more ETH being destroyed than created.

The network is powered by a Proof-of-Stake consensus model that requires 99.95% less energy than Proof-of-Work models like Bitcoin. This means that people who hold a certain amount of ETH can stake it to help verify transactions, receiving newly issued ETH in the process.

Many of the biggest and most exciting projects in the crypto space are built on Ethereum. The platform’s ERC-20 standard is the architecture that powers more than 20 of the coins on CoinJar – including all the major DeFi projects – while NFTs (non-fungible tokens) came into being thanks to ERC-721.

How to buy Ethereum: Buy ETH on CoinJar

Are you asking yourself, "How can I buy Ethereum?" Here are the steps.

-Download the CoinJar app on iOS or Android. This is the most convenient t way to access CoinJar’s services and features. You can also use the web version of CoinJar, but the app has a more user-friendly interface.

-Create an account with CoinJar and verify your ID. This is required to comply with the regulations and laws in your country. You will need to provide some personal information, such as your name, email, phone number, and address.

You will also need to upload a photo of your ID document, such as a passport or driver’s license and in some cases a proof of your address such as a utility bill or bank statement. The verification process may take a few minutes or hours, depending on the volume of requests.

Due to UK regulations, UK customers will need to answer a questionnaire about understanding the risks. You will also have to wait 24 hours to abide by a “cooling off” period, before they get approved. This process adheres to UK regulations.

-Transfer money into your CoinJar account. You can do this in several different ways, so choose the method that suits you best. You can use a bank transfer or make a purchase using a card among other methods.

-You can then use the funds in your account to buy Ethereum at the market price or place a custom order.

-CoinJar provides a secure and convenient wallet for storing your Ethereum and other cryptocurrencies. You can access your wallet from the app or the web.

You can also send and receive Ethereum from other wallets using your CoinJar address or QR code. If you prefer to use a different wallet, you can transfer your Ethereum from CoinJar to any other compatible wallet.

-Welcome to the Ethereum club!

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Cash, credit or crypto?

Buy Ethereum using Visa or Mastercard. Get cash in your account with Faster Payments Service (FPS). Convert crypto-to-crypto with a single click.

How to buy Ethereum with CoinJar

Start your cryptocurrency portfolio with CoinJar by following these steps.
Step oneDownload the appGet the CoinJar app on iOS or Android.
Step twoCreate an accountCreate an account with CoinJar and verify your ID.
Step threeMake a purchaseBuy more than 50 cryptos using cash or a debit card.
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Frequently asked questions

Where can I use Ethereum in the UK?

With CoinJar Card you can use the Ethereum in your CoinJar account (or any of the other 50+ cryptos we offer) to make purchases everywhere that Mastercard is accepted.

Can I buy Ethereum with a debit card?

Yes – with CoinJar Instant Buy you can buy ETH using any UK-issued Visa or Mastercard. We also offer support for Apple Pay and Google Pay.

How is the price of Ethereum determined?

The price of ETH in GBP is determined by the international Ethereum market – basically, the price to be found on cryptocurrency exchanges in the UK and all around the world.

What is a Smart Contract?

Smart contracts are Ethereum’s key innovation over Bitcoin. In essence, smart contracts let you create agreements between parties or layers of code that are automatically executed when certain conditions are met. By using smart contracts, developers have built the vast and growing ecosystem of decentralised apps (dApps) increasingly being referred to as web3.

What is Ether?

Ether (ETH) is the native currency of the Ethereum network. When people want to use the system or add information to the blockchain – for instance, by transferring funds, making a purchase or executing a smart contract – they have to pay a transaction cost in Ether.

What are gas fees?

Gas fees refer to the amount of ETH you need to pay in order to perform a transaction or execute a smart contract on the Ethereum network. Gas fees are set in ‘gwei’ (short for gigawei, with wei being the smallest possible denomination of Ether) and are determined by the demand for transaction space. The more demand, the higher the gas fees. During periods of high demand, gas fees can reach £50 per transaction, but are more commonly around £1.

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Cryptoassets traded on CoinJar UK Limited are largely unregulated in the UK, and you are unable to access the Financial Service Compensation Scheme or the Financial Ombudsman Service. We use third party banking, safekeeping and payment providers, and the failure of any of these providers could also lead to a loss of your assets. We recommend you obtain financial advice before making a decision to use your credit card to purchase cryptoassets or to invest in cryptoassets. Capital Gains Tax may be payable on profits. CoinJar’s digital currency exchange services are operated in the UK by CoinJar UK Limited (company number 8905988), registered by the Financial Conduct Authority as a Cryptoasset Exchange Provider and Custodian Wallet Provider in the United Kingdom under the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017, as amended (Firm Reference No. 928767).

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