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Cheapest Way to Convert Your ETH to EUR

When you are converting ETH to EUR, you first need to find the cheapest way to do it. If you end up using the wrong exchange, you'll probably lose a lot of money during the conversion.

Ethereum is the second-largest cryptocurrency in terms of market capitalization, and it is one of the popular cryptocurrencies in the world. This revolutionary blockchain network provides many applications in the FinTech space with the help of smart contracts. The value of the Ether coin has significantly grown from its inception in 2015 to 2021.

With the increased popularity, cryptocurrency adoption has also increased remarkably over the past few years in different regions of Europe. The UK is the leading country in terms of crypto adoption when compared to all the other European countries. 

European residents convert their funds in EUR into ETH to utilize Ethereum for trading and other purposes. To buy ETH, Europeans need to deposit their funds in EUR into an online exchange and then buy Ether. Users need to consider certain factors like exchange fees and transaction speed before converting digital assets into fiat money. 

This article compares different cryptocurrency exchanges that provide the cheapest way to convert ETH to EUR. 

Let us assume that you want to exchange 1 ETH to EUR and withdraw funds into any bank account. 

Before starting the process, you can check Ethereum’s price in EUR on any cryptocurrency exchange. First, you need to deposit the 1 ETH into a cryptocurrency exchange’s wallet from your crypto wallet (software or hardware wallet). You can proceed to convert ETH to EUR on the exchange. Now, the funds will be in your exchange’s wallet in the form of EUR. After that, you can withdraw the funds into your bank accounts. 

At every stage of the process of converting ETH to EUR, you need to pay a certain amount of fees. We have analyzed the cheapest crypto exchanges below. 

Binance

Binance crypto exchange is one of the largest trading platforms. According to Statista, Binance is ranked among the largest cryptocurrency exchanges in 2021. The platform is well-known for its cheapest trading fees. 

Binance does not charge any fees for depositing ETH into the Binance exchange’s wallet. However, investors need to pay 0.1% trading fees for converting ETH to EUR. One Ether coin is worth 2,929.92 Euros as of October 2021. To exchange it into EUR, users need to pay around 29.29 Euros as trading fees. If users hold BNB, then the trading fees are automatically deducted from the BNB balance.  

To withdraw EUR into a bank account, users need to pay a withdrawal fee between $1 to $15. The withdrawal fee on Binance varies based on different factors like the network selected. 

Kraken

Kraken cryptocurrency exchange enables trading several cryptocurrencies with low fees. The platform provides advanced trading tools like margin trading, market making, etc. However, it is not a suitable platform for beginners. 

Kraken charges variable deposit fees to move ETH into Kraken’s wallet. To exchange ETH to EUR, users need to pay between 0% to 0.26% as trading fees. The platform monitors users’ trading volume in the last 30 days. If the trading volume is more in the last 30 days, Kraken charges lower fees. 

To withdraw EUR into the user’s bank account, Kraken charges a withdrawal fee of $3 - $45 depending on the withdrawal method and the bank selected. 

Coinmotion

Coinmotion cryptocurrency exchange offers a secure and friendly way to trade cryptocurrencies. It stores a majority of the cryptocurrencies in a cold wallet to avoid possible attacks and thefts. It provides easy on-boarding of cryptocurrencies along with a wide range of deposit and withdrawal methods. 

To deposit ETH into Coinmotion’s wallet, users don’t need to pay any commission fees. Coinmotion charges 1-2% as trading fees to convert ETH to EUR. The platform offers discounts based on the last 90-day trading volume. To withdraw Euros into the customer’s bank account, it charges 0.9 Euros per withdrawal. 

Binance is the best cryptocurrency trading platform to convert EUR to ETH with the lowest possible fees when compared with the other crypto exchanges. 

Residents of European countries can create a Binance account to buy Ether on the platform. It provides multiple options to buy ETH, such as bank transfer payments and credit or debit card payments. The platform also allows trading Ether along with other 150 cryptocurrencies. Users can benefit from the lowest trading fees - 0.1% on the Binance exchange for converting EUR to ETH. 

It is essential to research different cryptocurrency exchanges thoroughly before proceeding to buying or selling digital currencies with fiat money.

When it comes to converting ETH to EUR, you need to use the cheapest option to maximize your profits. Binance, Coinmotion, and Kraken are some of the best exchanges that you can use.

If you are looking for the best crypto platform for all your needs, not just converting ETH to EUR, go to our crypto exchange comparison tool.

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