Finding ways to buy Ethereum in India?
Are you looking for the best wallets and exchanges?
Here I have shown a tutorial on how and where to buy Ethereum in India.
So let’s get started.
Table of Contents
What is Ethereum?
Ethereum works on blockchain technology which is open source, and it helps to create Decentralized Applications called dapps.
Ethereum is known for its smart contracts.
With a smart contract, you can build Decentralized Application (Dapps), Non-Fungible Token (NFTs), Distributed Exchange (DEX), and Decentralized Finance (Defi)
What Is Ether?
Many people think Ether and Ethereum are some, but they are two different things.
Ether is the Ethereum blockchain’s native Cryptocurrency.
It is a digital currency that can be transferred from one wallet to another. It can also be used in the Ethereum ecosystem.
It acts as a store of value.
How to Buy Ethereum in India Step-By-Step Guide
Buying Ethereum in simple steps,
Now I will show you in detail a step-by-step guide.
There are 3 ways to buy Ethereum in India.
- Buying Ethereum from Exchange Site
- Buying Ethereum from Mobile App
Buying Ethereum from Exchange.
Step 1: Create an account on Indian Crypto Exchange.
- Go to Wazirx and Sing Up.
- Setup Authenticator –
Download Google authenticator from play store or apple store, Scan the Qr code. You should always enable an authenticator for all the crypto exchanges.
- Complete KYC. Documents needed: A scanned copy or photo of your PAN card, A scanned copy or photo of your Aadhar Card, Driving License, or Passport.
Step 2: Add INR to Wazirx Account.
- Navigate to the Fund Section.
- Click on Deposit (INR)
Instantly it will add your money to the Wazirx wallet.
Step 3: Buying Ethereum with INR
- Navigate to Exchange
- Go to INR Pair.
- Search for ETH.
- On the right bottom there you can see the Buy/Sell Option.
Step 4: Buying Ethereum from Bitcoin
If you have bitcoin in your wallet, then
- Go to BTC Pair.
- Search for ETH.
- On the right bottom there you can see the Buy/Sell Option.
Buying Ethereum from Mobile.
Step 1: Create an account on CoinSwitch Kuber.
- Download from Play Store
- Enter Mobile Number.
- Set Pin. Remember your PIN.
Step 2: Complete KYC
- Go to Profile.
- Navigate to User Verification.
- 3 Steps KYC.
Documents needed: A scanned copy or photo of your PAN card, A scanned copy or photo of your Aadhar Card, Driving License, or Passport.
Step 3: Add Bank Account
Before adding bank details, make sure you are
- Go to Profile.
- Navigate to Bank Details.
- Enter Bank Details.
Step 4: Buy Ethereum
- On Home, you can see Ethereum. Tap on that.
- Click on BUY.
You can check your Ethereum by going to the portfolio section.
Best APP to Buying Ethereum
Here is the best app to use for buying Ether.
Features :
- Easy to use (User Friendly)
- Instant Deposit and Withdrawal
- KYC Needed.
2. Wazirx
Features :
- Buy bitcoin with INR and instant deposit with IMPS/UPI.
- Trade up to 100+ Cryptocurrency.
3. CoinDCX
Features :
- Complete KYC in 10 Min
- Margin trading available.
4. Unocoin
Features :
- Low transaction fees.
- Earn Interest in your crypto.
- Lending is also available.
5. Zebpay
Features :
- Trade with a small amount like Rs. 100,
6. Binance
Features :
- You can switch to the lite version and advanced version.
- User friendly and easy to use.
- Lending, Margin, Futures, Interest is available.
- Use Peer-to-peer for buying bitcoin, Ethereum, or any other cryptocurrency.
With the above application, you can also trade Cryptocurrency.
Best Ethereum Wallet in India to Hold ETH
Here is the best Ethereum wallet where you can store your ETHER.
- Hardware wallet – There are multiple wallets you can choose from, here is best one Ledger Nano S, Ledger Nano X & Tezor
- Mobile Wallet – Trust Wallet, Atomic Wallet & Exodus
- Desktop Wallet – Exodus Wallet, Jaxx & MetaMask
- Web Wallet – Myetherwallet & Metamask
How to Sell Ethereum in India
- Go to Exchange.
- Search for ETH.
- Select Pair, If you want to convert it into BTC or INR.
- Click on Sell.
This way, you can sell Ethereum effortlessly.
Why should you invest in Ethereum?
Ethereum is the best Cryptocurrency out there. Most of the projects in Cryptocurrency use Ethereum blockchain technology.
Here are some projects:
- Distributed Exchange (DEX),
- Decentralized Apps (DAPPS).
- Non-Fungible Token (NFTs).
- ERC721 Game.
- Online Casino.
- Minecraft-like virtual real estate.
- KYC chain.
- Virtual Real Estate.
- Get Interested on Coins.
- A social network for artists.
- Crowdfunding.
The Ethereum ecosystem is constantly growing, and it is giving an excellent return. In 2022, Ethereum is crossing its all-time high.
How Ethereum Works
Ethereum is a blockchain-based platform.
Ethereum is changing proof of work to proof of stake.
In proof of work, miners invest their resources which solve a problematic puzzle on their computer processing power using GPU AND CPU.
Miners solve the difficulties, and they get rewards.
This model requires a massive energy level to work properly and protect the network of 51% attack.
In proof of stake, no power consumption and resources are needed, and miners are not rewarded.
Suppose this user wants to secure the network by staking their ETH and becoming a validator.
Each validator is incentivized by the validation of transactions and gets rewards in return.
51% Attack in proof of stake is challenging.
The attacker has to control 51% of validators and have lots of capital.
Conclusion
I hope now you know about Ethereum and how you can buy it from India.
Ether is a good investment for the long term because of its growing ecosystem and trust of the community.
With smart contracts, you can build many things with it which will be decentralized.
Yes, It’s legal to buy Ethereum in India. Recently Finance Minister Nirmala Sitaraman said, “Crypto experiments will have a window available.“
A mining rig is a set of graphic cards used for mining cryptocurrency such as Bitcoin, Ethereum, Dogecoin, Etc.
Ethereum Mining Rig Configuration.
- Motherboard,
- 4 Graphic Card (6GB/8GB)
- SMPS of 750Watt +,
- Monitor, Keyboard, and Mouse
- 8GB Ram
Getting a mining rig in India is very difficult to get, and during bull, run mining Rig, which is so expensive. I will suggest you buy a mining rig once the bull run ends and the Rig price goes down.
- Go to Wazirx.
- Head to profile.
- Verify your identity.
- Add a bank account.
- Add money to your account.
- Go to the Ethereum tab.
- Click on Buy.
This was a quick guide for buying Ether.
