Launched in 2015, Ethereum managed to scale up the ladder soon, becoming the second most popular and valuable cryptocurrency in the world. What made Ethereum grab eyeballs is its unique concept. While it may look like just another cryptocurrency to new investors, it is not. Ethereum can be best explained as the building blocks upon which a range of decentralized exchanges, coins, NFTs, and Decentralized applications (dApps) can be created.
Its versatility and scope exceed way more than any other digital currency online. It is why investors who got Ethereum in the early years benefitted from its massive capital appreciation. If this makes you want to have Ethereum in your crypto portfolio, you’re not alone. Many people have shown interest to buy Ethereum in India, and if you are one among them who is planning to then, this guide will help you with the necessary steps and actions.
Why Buy Ethereum in India?
What separates Ethereum from the rest is its inclusion of smart contracts. These contracts help execute transactions almost instantly when some pre-agreed conditions are met. This feature can be used to eliminate third-party involvement to complete a transaction. It is what makes the Ethereum network an ideal platform to create NFT exchanges, other digital coins, dApps, and many other applications. Many developers have already started building decentralized applications on the Ethereum network, and this number is only expected to grow.
As this technology and platform mature with time, you can expect to receive a great ROI. It is why more people are rushing to get their share of Ethereum before the price goes up any further. While every cryptocurrency is highly volatile, and no one guarantees its position in the future, you can definitely evaluate its future value based on what the cryptocurrency is capable of in the current date and its future course of action. And Ethereum sure looks promising.
Best Cryptocurrency Exchange to Buy Ethereum in India
If you’ve decided to purchase Ethereum in India, we suggest buying it from a reliable cryptocurrency exchange. A cryptocurrency exchange is the best way to buy and sell Ethereum and other cryptocurrencies. They are fast, secure, and prevent scam transactions on their platforms. The list of many cryptocurrency exchanges in India can leave you confused, so evaluate every option based on their reputation, the number of listed cryptocurrencies for trading purposes, transaction fee & speed, etc.
Checking what their old and existing customers have to say is another great way to find an ideal Ethereum exchange in India. But if you don’t have enough time to conduct research, go ahead with CoinSwitch Kuber. This exchange serves over 10 million Indians and has a good reputation in the crypto space. You can register on this platform to trade Ethereum, convert Ethereum into INR, etc.
Steps to Buy Ethereum
If you’re all set to purchase Ethereum in India, head straight to the Google app store to download the CoinSwitch Kuber mobile app. Once you’ve downloaded the app, follow the below-mentioned steps:
Step 1: Create a Verified Account
You can create a verified account on Coinswitch Kuber by following the below-mentioned steps:
- Open the downloaded app from Google Playstore or Apple store
- Proceed to create an account by providing your mobile number
- Continue filling in the details as and when the screen prompts
- Complete your registration by uploading ID proof
Note: To keep the platform safe for its users, CoinSwitch Kuber verifies every individual before letting them use their platform for cryptocurrency trading. So don’t hesitate to upload your documents, as the exchange is safe, reliable, and secure.
Step 2: Deposit INR in your Account
Once your account is created, head straight to the dashboard and click on the “Deposit INR” option. You can add the amount that you’re willing to use to make an Ethereum purchase. The best part about this exchange is it supports multiple payment options, so you can transfer money without any hassle.
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Step 3: Purchase Cryptocurrency
Once the required funds are transferred to your account, you can proceed to make the purchase. Search for Ethereum from the list of currencies, and click on the “Buy Ethereum” option. You will then be asked the amount you’ll like to spend to purchase Ethereum. Fill in the correct details and proceed. Once the payment is successfully made, you’ll have Ethereum in your account.
Buying Ethereum on CoinSwitch Kuber is easy. All you need is a KYC-verified account to participate in cryptocurrency trading.
Purchase Ethereum with Other Cryptocurrencies
If you own other cryptocurrencies like Bitcoin, Litecoin, Tether, Cardano, etc., you can use them to purchase Ethereum. Look for a platform that supports buying Ethereum in exchange for other cryptocurrencies. Binance is one such platform that facilitates such exchanges, so you can consider creating an account there. Once the account gets created, deposit your cryptocurrency into the account, and use the same to purchase Ethereum. You can find various such exchanges that facilitate such transactions.
Now that you’re aware of the two most common methods of buying Ethereum in India, go and get some today. And don’t forget to begin trading on a secure platform, like CoinSwitch Kuber.
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