Ethereum (ETH), as the world's second-largest cryptocurrency after Bitcoin (BTC), derives its value not only from the price of the ETH token but also from the smart contract platform and decentralized application (DApp) ecosystem it builds. Whether for investment, development, or participation in emerging fields like DeFi and NFTs, purchasing ETH is a necessary first step. However, faced with a plethora of trading platforms and complex operational processes, newcomers often feel confused. This article will provide a comprehensive overview of mainstream Ethereum trading platforms (software) and detail the step-by-step purchasing process from scratch, analyzing the entire process from registration to storage, helping you complete ETH purchases safely and efficiently.
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The three best trading platforms for purchasing Ethereum ETH
1st Place: Binance
The Binance trading platform was created by a group of digital asset enthusiasts and focuses on blockchain assets. Headquartered in Tokyo, Japan, it is currently one of the most influential platforms in Chinese exchanges. Binance is a fusion of "Binary" and "Finance," meaning the integration of digital technology and finance.
Currently, Binance has established joint ventures with leading global partners and set up cryptocurrency trading platforms supporting fiat deposits in Japan, France, Italy, Spain, Dubai, the United States, New Zealand, and more, obtaining local regulatory licenses. Users from other countries and regions (including Taiwan/Hong Kong) can open accounts and trade on Binance International, with quick registration in five minutes and the best trading fees across the network.
Binance was founded by Canadian-Chinese engineer Zhao Changpeng, who conducted an ICO in 2017 (issuing virtual currency to raise the first funds), with the token called Binance Coin (BNB).
The Binance exchange is a global cryptocurrency exchange serving 180 countries and regions, including North America, Europe, Taiwan, the Middle East, Hong Kong, and Malaysia, offering over 600 cryptocurrencies and boasting 270 million registered users worldwide. Since 2018, Binance has been considered the largest cryptocurrency exchange in the world by trading volume, with a 24-hour trading volume reaching $100 billion.
After six years of development, Binance has become a barometer of the cryptocurrency industry, welcomed by a vast number of global cryptocurrency investors due to its rich trading offerings, low trading fees, high liquidity, high security standards, and quality Chinese customer service!
1st Place: Binance
2nd Place: OKX
OKX is one of the top two virtual currency trading and Web3 platforms globally, providing trading services for various virtual currency assets such as Bitcoin (BTC), Ethereum (ETH), USDT, Shiba Inu (SHIB), Ripple (XRP), and Dogecoin (Doge) to users worldwide, facilitating the management of investment in cryptocurrencies and other assets.
OKX is a leading digital asset trading platform dedicated to providing users with secure, stable, and convenient digital asset trading services.
As a well-known digital currency trading platform, OKX maintains a high reputation and security, with users from hundreds of countries worldwide. OKX not only offers trading pairs for mainstream global digital currencies but also provides various trading methods, including contract trading, OTC trading, and fiat trading, offering comprehensive digital asset trading services.
OKX is one of the top ten virtual currency exchanges globally, supporting fiat recharge services in over 90 countries and regions, making it one of the important channels for fiat entry and withdrawal.
2nd Place: OKX
3rd Place: Bybit
Founded in 2018, Bybit is one of the most popular cryptocurrency derivatives exchanges globally, especially in Europe and Asia. The rapid growth of the exchange is closely related to its generous referral program.
Some trading pairs available on Bybit include Bitcoin (BTC) and Ethereum (ETH). In addition to these more popular options, there are many other choices.
Bybit focuses on cryptocurrency derivatives trading, offering various cryptocurrency spot and derivatives, with order fees varying based on user levels.
Bybit was established in March 2018 and is one of the most popular cryptocurrency derivatives exchanges globally, particularly in Europe and Asia. The rapid growth of the exchange is closely related to its generous referral program.
Some trading pairs available on Bybit include Bitcoin (BTC) and Ethereum (ETH). In addition to these more popular options, there are many other choices.
2nd Place: OKX
Ethereum ETH Purchase Process
The software (platform) for purchasing ETH mainly falls into two categories: centralized exchanges (CEX) and decentralized exchanges (DEX). For centralized exchanges (CEX), you can choose from Binance, OKX, Huobi, and other 91 exchanges to trade within the exchange. The following is a tutorial for trading Ethereum on the Binance exchange.
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Download the Binance app from the official website or visit the Binance official website to complete registration using your phone number or email.
Ethereum ETH Purchase Process -
Binance has fully opened registration for domestic users via phone number; enter your email/phone number and click next.
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Slide the puzzle to the right for security verification, check the 6-digit verification code received on your phone in a timely manner; the code is valid for 30 minutes, please fill it in promptly, and click "Submit" after filling it in.
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After the account is created, click [Go to Verification].
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Here, you can see the corresponding verification types: issuing country/region of the document, take photos of both sides of the government-issued ID. The limits vary by country or region. Click the button for [Issuing Country/Region] to select your country or region of residence.
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Purchase stablecoins in C2C for purchasing Ethereum; enter C2C from the Binance homepage. Choose the amount to purchase; C2C supports purchases starting from a minimum of 10 yuan, then select a merchant, transfer according to the information provided by the merchant, and wait for the merchant to release the coins.
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Click on the navigation bar above [Trade] > [Spot Trading].
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Search for the currency abbreviation [ETH], and select the trading pair [ETH/USDT], as the stablecoin we purchased is USDT.
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Enter the purchase amount or quantity, choose "Market Order" or "Limit Order," and click "Buy ETH" to complete the ETH transaction.
Ethereum Historical Price Table - Ethereum Price Trends
Ethereum (Ether) is a cryptocurrency based on decentralized blockchain technology. With the development of blockchain technology, Ethereum has gradually become one of the important infrastructures of the digital economy. Below is the historical price trend table of Ethereum from 2015 to 2023.
Ethereum Historical Price Table - Ethereum Price Trends
- 2015 - 2016: Starting from Zero
Since the genesis block of Ethereum began operating in July 2015, the price of Ether has remained at a very low level. During 2015 to 2016, the price of Ethereum hovered below a few cents. - 2017: Explosive Growth
2017 was a pivotal moment for Ethereum. Due to the boom in the electronic currency market, Ethereum experienced explosive growth that year. In January 2017, the price of Ethereum was about $10. By December, the price of Ethereum soared to a historical high of $1400. From January to December, the price of Ethereum increased by more than 140 times. - 2018: Market Correction
2018 was a significant turning point for the cryptocurrency market. Due to market deleveraging and increased regulation, the cryptocurrency market experienced a washout. Ethereum's price was no exception; in January 2018, the price of Ethereum was only about $100. By December of the same year, the price of Ethereum was about $140. Ethereum's price fell by 85% in 2018. - 2019-2023: Gradual Growth
Over the past two years, the price of Ethereum has gradually increased. Although the environment of the cryptocurrency market remains unstable, Ethereum's price has experienced some good growth over the past two years. By November 2021, the price of Ethereum peaked at about $4800. Starting from December 2021, the price declined to a low of $1080 in June 2022, and then rebounded to $2000, currently priced at $1840.
The software options for purchasing Ethereum are diverse, with centralized exchanges (like Binance, OKX) being the preferred choice for beginners due to their convenience, while decentralized exchanges (like Uniswap) and personal wallets (like MetaMask) are essential tools for those pursuing asset autonomy and exploring the DeFi world.
As the core asset of the blockchain ecosystem, Ethereum's long-term value is widely recognized, but the high-risk nature of the cryptocurrency market cannot be ignored. New investors should start with legitimate platforms, master the basic operational processes, and pay attention to asset security to avoid losses due to operational errors or information leaks.