Ethereum (ETH) is a global, open-source platform for decentralized applications and the world’s one of the leading blockchains. It is decentralized, that means it is not controlled by anyone and is open to the public. It was first launched in 2015. Its cryptocurrency is called Ether [ETH]. Basically, it is digital money that can be transferred easily anywhere and to anywhere around the world.
Some of the Features of Ethereum –
- On this platform, you can write code that controls digital value that enables the program to run exactly as it has been programmed.
- Because of this, developers have room to develop any kind of application.
- One of the most prominent features of this platform is that it can be accessed anywhere in the world and hence making it more open for the crowd.
Services Provided by Ethereum –
- The cryptocurrency wallet helps you store any amount of money in your wallet and is safe and secure. Money is converted into ETH and transfers also happen through the ETH and hence making the process simpler and more secure.
- Financial applications that are available on the platform help you borrow, lend, invest your ETH and also enable you to keep the money as collateral.
- The games available on the platform enable you to make money while you own the in-game assets.
How to Buy Ethereum in India?
Here’ are some easy ways to buy ETH in India.
In India, it is fairly legal enough to buy ETH. Although it is not regulated by the RBI, as it is decentralized, and hence ETH can be used at your personal risk.
Right now, the cost of one ETH is INR. 11,972.31 As updated last on 26th September, 12.11 a.m. But it changes from time to time. And before you invest in ETH, the third party shows you the exact current rate of ETH.
One of the easier and simpler methods to get your hands on Ether is by using third party sites.
For depositing money, services like credit card, debit card, local online banking and Paypal are used in India.
First, you sign up into an Ether Trade account. This acts like a wallet where you can store your Ether. With this, you can now transfer your money through this cryptocurrency and easily pay through your local currency.
But you’re not done yet!!!!
After this, you connect your bank account to the wallet.
After this, some verification steps are needed to be filled and now you’re all set to start a purchase.
Here are some places where you can buy and sell ETH-
- Unocoin- Through this website, you can but 7 different cryptocurrencies with INR on this Indian-based exchanged. At Unocoin, you can transfer through Bank transfer and PayU money. They take deposit fee if its net banking-1.9 % and through PayU Money, they charge 1.9%. They charge trading fees 0.5-0.7% but no withdrawal fees.
- CoinDCX Exchange- It’s a cryptocurrency exchange based in India which lists over 30+ trading pairs and supports INR. It charges a 0.1% transfer fee. But no deposit fees and withdrawal fees are taken.
- Remitano- It is a peer-to-peer exchange where users can trade many cryptocurrencies with several fiat currency options. Exchange happens through bank transfer and cryptocurrency. It takes deposit fees 0.005 %, withdrawal fees 0.005% and trading fees vary.
- BuyUcoin- This website accepts INR and is one of the most commonly used websites. You can buy or sell world currency in just a few simple steps. It has been providing good services to its customers with fast transactions and verifications.