How to Buy Ethereum in Switzerland in 5 Simple Steps

Where to buy Ethereum in Switzerland in 2024?

As we have seen, buying Ethereum is pretty simple. When it comes to buying Ethereum, you have two choices. You can either go for:

Crypto exchanges are platforms that allow you to buy coins directly. They are very simple to use, although each platform offers its own price for the coin, has its own trading pairs, and some don’t support buying crypto with traditional currencies, but are only crypto-to-crypto, so keep an eye out for that. Assuming that you can deposit fiat currencies on their platform, you should also note that each supports different payment methods, so check if your preferred payment method is supported before you select a platform.

Your second option is a broker, which is better for trading, rather than investing. Brokers are good for trading because they are connected to many different platforms. Brokers also have the advantage of offering CFDs, options and futures — derivatives that allow you to bet on which way Ethereum’s price is going to go. In this situation, you never have to buy the coins themselves, so you also don’t have to worry about storing them. Since all you are doing is betting on the direction the price might take, you also get to earn money even if the price is dropping. You can’t do this on exchanges, and if the price drops after you have already bought ETH coins, all you can experience are losses.

To help you out, we have created a list of the best brokers and exchanges that you can use to buy Ethereum in Switzerland.

Step by Step Guide — How to Buy Ethereum in Switzerland

Buying ETH in Switzerland is as easy as explained, and to help you out even further, we have prepared a step-by-step guide where we explain every part of the process. 

Step 1: Find an Appropriate Platform to Buy Ethereum

The first step is to find the right platform to buy Ethereum. However, we should point out that there is no right or wrong way to do this. All that matters is that you find a platform that supports your preferred payment method, has Ethereum listed as an asset, and has the lowest fees that you can find. That’s really it. Of course, you should always go for a regulated platform, whether you choose a broker for trading or exchange for investing, as they have proper security, meeting the high standard that the regulators have set. Regulated platforms are not scams, so you can trust them with your information, as well as your money. Long term holders should transfer their coins into a wallet but if you are a trader, then using a broker does not require a crypto wallet. 

Step 2: Registration / Create a New Account

After identifying the platform you wish to use, it is time to register for an account. This is simple enough to do, and it is no more complicated than creating an email address or a Facebook account. In fact, it is likely even easier. Some platforms even let you log in with your Facebook or Google account, so you don’t even have to create a new account from scratch.

But, whether you log in with an existing account or you opt to create a new one, you will have to go through the KYC procedure, which is short for Know Your Customer. It is a simple procedure where you will have to prove your identity by providing an official government-issued ID, proof of address, your photo, and similar things that will ensure that you are who you say you are.

Step 3: Deposit Funds

Once your account is verified, you can proceed to deposit some money. As mentioned before, this will be the initial investment that you can use to increase your wealth through trading or investing. Keep in mind that profit is not guaranteed. There is still a lot of risk involved due to high volatility, so you shouldn’t risk the money you can’t afford to lose.

With that said, you can deposit funds by going to the deposit page of the exchange/broker of your choosing, connecting your preferred payment method with the platform, and sending the amount you wish to use. 

Step 4: Start Trading or Buying Ethereum

Once the deposit arrives in your account, you are ready to start trading or buying Ethereum. Earlier, we stressed that exchanges are for buying coins, while brokers are best for trading derivatives such as CFDs, futures, and options. However, note that there are some platforms that allow you to do both things.

eToro, for example, is primarily a broker, but it does let you buy coins on its platform. Meanwhile, Binance is primarily a crypto exchange, but it also offers futures and options, so you can get both on the same platform if you decide to implement one investment strategy as your main approach, but also experiment with the other for a bit.

Step 5: Optional Steps

Lastly, there are a few optional steps worth considering. For example, if you wish to invest in ETH coins, you should create a private wallet to which you can withdraw your coins and keep them safe. And, if you wish to trade derivatives, you should consider opening complementary positions to hedge your main investment.

Also, given that Ethereum is about to switch to the Proof of Stake consensus algorithm, you will be able to stake ETH coins and receive passive income, essentially making your investment earn you even more money while you wait for the price to rise.