How to Buy Ethereum in Belgium - 2024 Beginner's Guide

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Ethereum (ETH) has been one of the most attractive crypto projects ever since it was created, due to all the possibilities that its network offers. However, it really became a major star of the crypto industry early in 2021, when the anticipation of Ethereum 2.0 combined with the bull run led by Bitcoin pushed its price beyond $4,300.

With that said, Ethereum 2.0 is still not fully here, and its launch has the potential to push ETH prices higher. This guide will tell you all about how you can buy Ethereum in Belgium

Where to Buy Ethereum in Belgium in 2024?

There are two kinds of services that you can choose from—crypto exchanges and crypto brokers. The difference may seem unimportant, but it is actually crucial for you to decide which one to use, and that decision will depend on what you wish to do. Crypto exchanges, for example, are services that focus on offering actual coins.

You can buy them, withdraw them to your private wallet, and keep them for a long time as you wait for Ethereum’s price to grow. The downside is that, if Ethereum’s price starts dropping—you will experience losses. But, long-term investors are in it for years, so most don’t really care about short-term fluctuations.

Brokers, on the other hand, allow you to trade Ethereum derivatives. Derivatives allow you to speculate on the price of the coin, without ever having to actually own the coin. This is beneficial for several reasons.

You don’t have to store and secure the coins yourself and you can speculate that the price will go up or down, and earn money if you are correct, so you can even profit if Ethereum’s price is dropping.

With that said, here is the list of some of the best platforms for buying Ethereum in Belgium.

Step by Step Guide — How to Buy Ethereum in Belgium

If you wish to buy Ethereum in Belgium, there are only a few short steps that you should follow. We will now go through them and explain everything that you need to know about each step.

Step 1: Find an Appropriate Platform to Buy Ethereum

Your first step will be to find the right platform for you. Essentially, any platform is capable of letting you buy Ethereum, but no two platforms are the same. Each has its own fee structure, their supported payment methods may differ, and they might offer different coins in addition to Ethereum which will be important if you decide to diversify your investment portfolio. If you wish to buy Ethereum for hodling, consider getting a crypto wallet that supports Ethereum. But if your primary aim is to trade ETH, then a wallet is not required.

Check out our guide on how to find the best Ethereum exchanges.

Step 2: Registration / Create a New Account

The second step is to register on the platform you choose. The registration process is quick, and many platforms don’t even require you to create a new account from scratch. You can if you want to, of course, but you can just as easily log in with your social media or email accounts and basically skip this step. However, there is another step within this one, which is going through a KYC procedure.

This is not something that you can bypass, as it is mandatory and required by law. The procedure is also pretty simple, and all you need to do is provide your personal information, such as name, address, a photo, as well as your ID, and potentially some proof of address. Different platforms require different things, but this shouldn’t be a problem for any honest trader/investor.

Step 3: Deposit Funds

After KYC is done and your account is verified, you can proceed to connect your preferred payment method with your account and make a deposit. Once again, you need to make sure that your platform of choice supports your preferred payment methods, otherwise you might find yourself in a bit of trouble, as you won’t have a way to deposit money. For example, if you don’t own a credit card, and the platform only accepts credit card payments, then it doesn’t matter how good all other features are—it’s essentially useless to you.

Step 4: Start Trading or Buying Ethereum

Finally, with your funds deposited, you can enter a position and buy Ethereum, or you can start trading its coins or derivatives. One thing to note, however, is that traders usually go to brokers because they offer a better way to trade. You can trade on an exchange, but brokers offer derivatives, which open up greater possibilities. But, with that said, there are exchanges that offer derivatives, such as Binance. On the other hand, there are also a handful of brokers that let you buy coins themselves, like eToro.

Step 5: Optional steps

Lastly, there are a few optional steps that you can consider. For example, if you wish to buy coins for long term holding purposes, you need to create a private wallet where you can safely store them. You are also responsible for that wallet’s security, so make sure to learn how to secure it properly.

Alternatively, if you are a derivatives trader, you can consider opening a secondary position to hedge your main investment.

What is the Best Payment Method for Buying Ethereum in Belgium?

There are many different payment methods that can allow you to buy Ethereum in Belgium, each with its own strengths and weaknesses. Here are some of the most popular ones to consider:

Buy Ethereum with Cash — You can buy Ethereum on crypto ATMs with cash in several locations in Belgium or you can use peer-to-peer platforms.
Buy Ethereum with Credit Card — Credit cards are a popular way to buy Ethereum as they offer fast payments, but keep in mind that they are among the most expensive methods.
Buy Ethereum with bank transfer — Bank transfers are a great alternative to credit cards, as they are much cheaper. But, they also take several days to be processed, so these are only good if you are not in a hurry.
Buy Ethereum with PayPal — PayPal currently only allows US customers to use crypto within its platform. But, you can still use PayPal to buy Ethereum on P2P platforms. These platforms let you pay to another user from your PayPal account, and then they send you crypto via the P2P platform.
Buy Ethereum with Bitcoin — As mentioned, Ethereum is paired against Bitcoin on almost every exchange, so you shouldn’t have a problem exchanging one for another if you already own BTC.

Why Buy Ethereum?

Ethereum is the second-largest cryptocurrency according to market cap, and one of the top performers in the crypto industry. More than that, it has countless use cases, some that are already available, while others are still only theoretical for now. Its ecosystem is rich with dApps, different projects, smart contracts, NFTs, and many other products, and all of this gives it value, as the ecosystem itself depends on the ETH use.

Since Ethereum is working on launching its largest upgrade to date, Etheruem 2.0, chances are that its price will go much higher than now someday soon.

Before you decide to invest, keep an eye on the latest ETH price.

Is it Legal to Buy Ethereum in Belgium?

Cryptocurrency, including Ethereum, is not regulated in Belgium, nor in the EU as of yet. With that said, it is neither legal nor illegal. In other words, there are no rules against buying it, but there is some risk if you do buy it since nobody knows which way the regulators might go. With that said, Ethereum has not faced any problems with regulatory authorities around the world, so it should be one of the safest options among crypto. Find out more about the tax regulations for cryptocurrency in Belgium.

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Where Can I Use Ethereum in Belgium?

Ethereum can be used on crypto ATMs, where you can buy it or sell it whenever you desire. On top of that, you can also use it for trading or investing, and even pay for goods with some online merchants who accept it, as well as service providers. Since it is neither regulated nor recognised as legal tender, it can’t be used for direct payments with merchants in the real world, at least not yet.

Our Recommended Best Way to Buy Ethereum in Belgium

We have discussed many aspects of Ethereum so far, and there is a lot more to learn out there. Getting into crypto is a journey, and hopefully, this guide will be a good start for you. With that said, we leave you with one last recommendation, which is the best way to buy Ethereum in Belgium that we were able to find.

Frequently Asked Questions

Do I need to verify my identity before buying Ethereum in Belgium?

Yes. Regulated platforms insist on identity verification as part of KYC and AML rules.

Can Ethereum be converted to cash in Belgium?

Yes. Ethereum can be sold in exchange for cash on ATMs, crypto exchanges, P2P platforms, and more. It is as easy to sell it as it is to buy it, especially since it is one of the most sought after coins in the industry.

Is Ethereum considered real money in Belgium?

Ethereum does have value measured in real money, and one of its many use cases does include being used as a currency, so by all means, yes, Ethereum can be considered digital money. With that said, Belgium doesn’t recognize it as legal tender, and neither does the EU, so you likely cannot use it to pay for things, other than with online merchants who accept it?

Can Ethereum be used for payments in Belgium?

This is not its primary purpose, but yes, if you can find a merchant or a service provider that accepts Ethereum, there is nothing stopping you from using it to pay for goods and services.

Is Ethereum a risky investment in Belgium?

In terms of security, Ethereum is one of the safest coins around. However, due to its great volatility, it does come with a certain amount of risk. You can buy coins only to see their price drop, which will mean that the value of your investment will decrease. Other than that, the only other danger is from scams and hacking attempts that might hit the exchange you are using, but most platforms these days have insurance, so you should be safe from a total financial loss even if your funds do get stolen from the exchange.