If you are on this page, then you are interested in buying Ethereum in India. In the last post, we discuss about how to buy litecoins in India. In this post, we see how to buy Ethereum in India.
Before buying let’s understand what is Ethereum and it is legal in India?
What is Ethereum?
Etherum is another type of crypto-currencies just like Bitcoin. It is an open-source free digital, virtual currency. Etherum offers EVM, where anyone can build apps. It is used for trading, codify and for money exchange. In the month of July 2017 price of Ethereum was just 151 dollars but now it is increased to 300 dollars. So it is a good investment for future. A company like Microsoft and IBM already investing and believing in Ethereum as the strongest cryptocurrency.
Traders believe that at the end of 2018, the price of Ethereum will reach to 3000 dollars, so investing for one year will surely give you very much high return as a back.
Is Ethereum is legal in India?
Yes, Ethereum is legal in India and it is not banned.
But there is the difference in between legal and authorized by the government.just like Bitcoin Ethereum also not regulated by Indian central bank i.e RBI. You can invest in any cryptocurrency but it is your risk.
Indian government planning to create a regulation on cryptocurrencies. Many people already investing in Ethereum and it gives big return compare to other investing plans. So it is upon you, tell me in the comment section would you like to buy Ethereum if you live in India?
How To Buy Ethereum in India?
As bitcoin is becoming very famous day by day, Ethereum becomes second largest popular cryptocurrency In the world. Like other traders, I also believe that Ethereum will beat Bitcoin because Bitcoin only used for payment but we can use Ethereum for any purpose like for programming, computing and mainly for payment.
There are many ways to buy Ethereum in India but they are not as fast as which are mention below.
personally which site I use for buying Ethereum is etherxindia. It is most trusted and secure site for buying Ethereum. Etehrxindia launched in March 2016, which is the first marketplace for Indian for buying Ethereum. It not only allows you to buy Ethereum but also allow to trade in Ethereum.
But Due to a sudden surge in a number of registrations, Sign-Ups are temporarily put on hold.
Features of Etherxindia:
- Fast login and simple user interface with simple user navigation.
- Allow to buy and sell Ethereum with 24*7 support service.
- Etherxindia also allows you to store your Ethereum by providing free wallet.
- The biggest drawback of using Etherxindia is, it only allows you to buy whole Ethereum. Like you can only buy 1 or 2 Ethereum but cannot buy 0.2 or 0.9 Ethereum. if you want to invest a small amount of money then this site is not for you. You can try all other methods.
Just like ethrxindia, cex.io also, world’s first Ethereum buying place. Cex.io allows you to buy and sell not only Ethereum but also Bitcoins and other cryptocurrencies.it was founded in 2013. It is a secure, fast and reliable method.
You can also trade in cex.io if you don’t want to invest in Ethereum.
Step to buy Ethereum using cex.io
Signup using your Gmail id and setup your account.
Now you will redirect to a homepage of cex.io. click on deposit.
Choose a payment method and enter the amount you want to deposit and make payment.
Now come to the homepage and click to ETH, enter the amount you want to buy in the dollar and click on BUY.
The amount is easily debited from your deposited amount.
I am using koinex from last 4,5 month. Koinex is best in term of fast execution and id verification. If you create account using my referral code then you will get 50 INR rupee free.
So, let’s see how to buy Ethereum using koinex:
Create account on koinex and verify your email id
Submit your id for verification. In normal situation it takes 5,7 days for verification.
Now you have to fund your account by clicking balance tab on the menu. Deposit using your unique bank account number or use net banking option which will take 2% of fee.
Now choose Ethereum option on the top of menu. You will redirect to new page.
Here fills the volume of Ethereum you want to buy. Click on “Buy”.
You will automatically get Ethereum once your rate match with market rate.
How to buy Ethereum without id or verification ?
Problem with all above method is that you have to go with all legal procedure and submit id for verification. It may take 2 days or 20 days for verification, depends upon exchanges.
I want to buy now, is there is any way?
Yes, you can.
Firstly, you have to buy bitcoins or any altcoins where you don’t have to submit your id.
I will suggest to go with virwox for bitcoin buy. You can also buy bitcoins from localbitcoins.
I will suggest to read my post of how to buy bitcoins without id or verification?
Next exchange this coins with Ethereum using changelly.
If you want any help then you can read our changelly review post.
Buying Ethereum with other cryptocurrencies
changelly is fast and less chargeable compared to shapeshift. I will advise you to go with changelly for exchange.
For complete step for exchanging with other cryptocurrencies, you can read our changelly posts.
How to store Ethereum safely ?
Now you have Ethereum, it is time to store Ethereum safely. Keeping your Ethereum on exchanges always dangers.
You can store your Ethereum on any hardware wallet. If you are holding for long term then you can use paper wallet.
Ledger nano s is best option but it will cost. Buy Ledger Nano s is worth in terms of security.
If you don’t want to do any process and simply buy then mail me at [email protected]. I will do it for you.
So this are some way to buy Ethereum in India. If you ask me then I will suggest you go with etherxindia but the site is currently on hold and in beta version. so go with cex.io. changelly is also a good option if you interested in exchanging.
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if you have Any query than let me know in the comment section, I will Try to solve your problem.