Ethereum, as the world's second-largest cryptocurrency, has attracted a large number of investors due to its smart contract functionality and decentralized application (DApp) ecosystem. However, domestic users may face issues such as policy restrictions and difficulties in platform selection when purchasing Ethereum. This article will detail the compliant process for purchasing Ethereum domestically, review mainstream trading platforms, and highlight key considerations.
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How to buy Ethereum? Detailed tutorial on domestic Ethereum trading and review of trading platforms.
What are the domestic Ethereum trading platforms?
Domestic Ethereum trading platforms include OKX, Huobi, Binance, Gate.io, etc. Here are detailed introductions to some of the exchanges:
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OKX
Introduction: A well-established large exchange headquartered in Seychelles, with business operations in multiple regions worldwide. The product line is also very rich.
Advantages: Good liquidity, strong depth in spot and derivatives trading, robust technical capabilities, and supports Chinese.
Target audience: Users who have a demand for derivatives trading or prefer this platform. -
Huobi
Introduction: Once one of the three major exchanges in China, it has now fully shifted to the overseas market.
Advantages: Comprehensive Chinese support, user experience friendly to domestic users, and decent liquidity.
Target audience: Long-time users accustomed to the original Huobi interface and operations. -
Binance
Binance is one of the largest cryptocurrency exchanges in the world, founded in 2017 by Changpeng Zhao (CZ). It offers a wide range of digital currency trading, blockchain education, blockchain project incubation, blockchain asset issuance platforms, blockchain research institutes, and blockchain charity services globally. Currently, users cover over 180 countries and regions, with a core memory matching technology of 1.4 million orders per second, making it one of the fastest platforms for cryptocurrency trading in the world and also one of the largest by trading volume.
Introduction: The largest cryptocurrency exchange by trading volume globally, offering a rich variety of trading pairs (including various fiat and stablecoin trading pairs for ETH) and products (spot, contracts, wealth management, etc.).
Advantages: Excellent liquidity, good trading depth, competitive fees (lower when using BNB for payment), interface supports Chinese, and a good app experience.
High liquidity: Daily trading volume has long ranked first globally, with small bid-ask spreads.
Target audience: Users with relatively rich trading experience who seek high liquidity and a variety of functions. -
Gate.io
Gate.io is an established cryptocurrency exchange founded in 2013, known for its "fast listing speed and rich variety of small tokens," occupying a unique ecological niche in the global cryptocurrency trading market. Since its establishment in 2013, it has provided trading and investment services for nearly five hundred high-quality blockchain asset categories to millions of users from over 224 countries worldwide. Gate.io is committed to being a trustworthy, secure, stable, and reputable international blockchain asset platform, providing users with safe, convenient, and fair blockchain asset trading services while fully ensuring the security of users' trading information and assets.
How to buy Ethereum?
Buying Ethereum is straightforward; you can choose from 91 exchanges including Binance, OKX, and Huobi to conduct transactions. Below is a tutorial for trading Ethereum on Binance:
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Go to the Binance official website and click on "Register with Email/Phone Number" on the left side.
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Binance has fully opened mobile phone registration for mainland users; 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 sent to 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 creating your account, go to the identity verification section by clicking on your avatar in the upper left corner of the homepage, and click "Go for Verification."
Complete identity verification (KYC):
This is a necessary step for all mainstream compliant exchanges.
Follow the platform's instructions to upload clear photos of your personal identification documents (passports are usually the most accepted) and perform facial recognition verification.
KYC review usually takes several hours to several days. Without completing KYC, you typically cannot make fiat deposits and withdrawals.
- Purchase fiat currency in the "C2C Buy Crypto" section on the homepage for trading Ethereum (ETH). Choose a suitable merchant, enter the purchase amount (it is recommended to try a small amount first), make the payment according to the merchant's provided payment information, click "I have paid," and wait for the merchant to release the coins (if the coins are not released for a long time, you can contact the merchant in the chat page or find the platform's customer service for assistance).
C2C Buy Crypto
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Click on the navigation bar above on "Trade" — "Spot Trading."
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Search for the currency abbreviation "ETH" and select the "ETH/USDT" trading pair.
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Enter the purchase amount, click "Buy ETH." Enter the selling amount, click "Sell ETH" to complete the ETH transaction.
The initial goal of the Ethereum project was to create a platform for running smart contracts that supports Turing-complete applications, automatically executing according to the logical agreements of the smart contracts, ideally eliminating issues such as downtime, censorship, fraud, and third-party interference. When purchasing Ethereum domestically, it is necessary to operate within a regulated framework, prioritize mainstream platforms that support C2C trading, and pay attention to asset security and risk management. The cryptocurrency market is highly volatile; users are advised to continuously learn about blockchain knowledge, rationally view short-term price fluctuations, and avoid blindly following trends. In the future, as regulatory policies gradually clarify, compliant investment will become the mainstream trend.