Buy Ethereum (ETH)

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What is Ethereum?

With a rising market capitalisation Ethereum has earnt a seat alongside Bitcoin as the second biggest crypto currency and one of few in the Billion Dollar Club.

Ethereum is a decentralised platform that runs smart contracts: applications that run exactly as programmed without any possibility of downtime, censorship, fraud or third party interference. These apps run on a custom built blockchain, an enormously powerful shared global infrastructure that can move value around and represent the ownership of property. This enables developers to create markets, store registries of debts or promises, move funds in accordance with instructions given long in the past (like a will or a futures contract) and many other things that have not been invented yet, all without a middle man or counterparty risk.

The project was crowdfunded during August 2014 by fans all around the world. It is developed by the Ethereum Foundation, a Swiss nonprofit, with contributions from great minds across the globe.

How do I buy Ethereum?

Sign up to CoinSpot
Register for a CoinSpot account here & verify in minutes.
Deposit & buy
Deposit AUD into your account & enter the amount of AUD you want to trade for ETH and click "Buy".
That’s it!
You now own some Ethereum! You can click "Go to ETH Wallet" to see your Ethereum.

Learn more about Ethereum

Why Should I Trade ETH with CoinSpot?

CoinSpot is Australia’s largest cryptocurrency platform that has been operating since 2013 and is trusted by over two million Australians. We make it easy to buy and sell Ethereum no matter what your trading experience is. Unlike other international and Australian Ethereum exchanges that require experience and technical knowledge, we make the entire trading process simple for beginners and advanced traders alike.

CoinSpot provides layered security and advanced support systems so you can buy Ethereum with peace of mind and the comfort knowing support is available everyday to help. There are multiple trading options on our exchange that allow you to conveniently trade Ethereum how you want to. You will feel familiar with CoinSpot from the beginning and have access to everything you need to buy, sell and manage your cryptocurrency.

How do you store your Ethereum?

Storing on CoinSpot

Due to CoinSpot’s flexible Multicoin Wallet, storing your digital currency is simple. Just by creating your CoinSpot account you will automatically be given your own unique wallet where you can store your Ethereum for free.

Cold Storage

If you are holding Ethereum as a long term investment, you can utilise a cold storage wallet and send your coins there from your CoinSpot account. A cold wallet is a wallet which is completely offline (not connected to the internet) and is a popular option amongst people who prefer to hold their coins, rather than regularly trade.

Frequently asked questions

Right here! CoinSpot offers traders a fast, simple, easy and secure way to buy Ethereum. We are trusted by over two million customers and with just a few clicks, you can exchange Australian Dollars or other cryptocurrencies for Ethereum. CoinSpot helps users easily buy crypto, build their portfolio, make secure purchases and invest in this exciting asset class.
Ethereum has a floating exchange rate – meaning its price is set by individual vendors based on available supply and demand. As Ethereum is a globally traded asset, the price can vary across the world based on order books, volume, exchange rates and service fees of each individual Ethereum exchange.
Cryptocurrency differs from other traditional trading options as you can make fractional purchases, meaning you don’t have to buy whole coins. This means you can start investing in Ethereum & other digital currencies with as little as $1!
Practicing safe investing is best treated as a shared effort. CoinSpot provides a list of security tips that we recommend putting into practice to ensure you’re keeping yourself secure. Step one to buying Ethereum safely however is using a reputable exchange such as CoinSpot. We are the first Australian exchange to be awarded the internationally recognised ISO 27001 certification for security management and processes. Operating since 2013, we’re proud to say we’re Australia’s most trusted exchange. Start your Ethereum portfolio here.
Yes! With CoinSpot you can convert your Ethereum to AUD (Australian Dollars) instantly. You can also withdraw AUD to your Australian bank account for free with no withdrawal limits.
Ethereum was described by creator Vitalik Buterin in a whitepaper in late 2013, and launched in a prototype state in 2015. Apart from Buterin, founding members of Ethereum include Mihai Alisie, Anthony Di lorio, Charles Hoskinson, Amir Chetrit, Joseph Lubin, Gavin Wood, and Jeffrey Wilke. Not all these individuals are still with the Ethereum Foundation, a few have moved on to work on other projects, such as Charles Hoskinson who is now associated with Cardano, while Gavin Wood is now working on Polkadot.
Ether is the native cryptocurrency of the Ethereum blockchain. Ether is generated by the Ethereum protocol as a reward to miners who help to maintain the network. Ether is used to pay all transaction fees on the network, and is central to the operation of Ethereum in that it incentivises the growth of the mining pool, allowing Ethereum to further decentralise.
Smart contracts are an innovative feature at the heart of Ethereum. Using a variety of coding languages, developers can create programs that run on the Ethereum blockchain that automatically execute transactions when certain conditions are met. For example, if you buy insurance from an insurer, a smart contract can be created to manage the policy. If the contract detects the conditions of the policy are met, it will automatically disburse the money to your account – if not, it will terminate the conclusion of the policy.
All blockchain protocols require resources to process transactions and execute commands on the network. Gas is Ethereum’s way of quantifying the cost of these resources and sharing the cost amongst the user pool. Whenever you send money, set up a smart contract or take any other action on the network, you are required to pay a gas fee. This Gas fee is paid to the miners who maintain the network and are responsible for facilitating your transaction. The amount of Gas you pay directly correlates with how fast your transaction will be processed, as miners will select for and prioritise transactions with a higher value to them – the maximum amount of Gas you are willing to pay is called your Gas limit.

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