Duck all the talks and hypes about Ethereum. Well, it's time for the real deal. How to buy/sell Ethereum in India? Here, Im going to guide you the best way to trade Ethereum in India! Keep your e-Wallets by side!
Don't ask me why you should invest in Ethereum, I don't think you came here without knowing about all that!?!(Are you?)
For quick education Cryptocurrency: Everything you need to know!
What is Ethereum?
- ETHEREUM is second biggest Market cap Cryptocurrency after BITCOIN.
- To define, Ethereum is open source, block chain technology platform that execute peer to peer multi party agreements without the intervention of third parties among other applications.
- Ethereum revolutionises the way, the transactions carries out. Thanks to Smart Contracts.
Smart Contracts
Smart Contracts is a computer program i.e when predetermined conditions are met, execution occurs.
Ethereum Virtual Machine
Ethereum provides the underlying technology, the architecture and software that understands smart contracts and execute it.
How to Buy Ethereum in India?
Well, there are so many out there offering Ethereum exchanges, coinbase, kraken, Bitstamp, Gemini, Binance, Bitfinex, Zebpay and BuyUcoin! All of these exchanges offer Ethereum.
P.S: This is not a Paid promotion!
Investors can easily trade Ethereum using Fiat currency as it has one of the biggest Cryptocurrency Market Cap. You can also have Cryptocurrency to Cryptocurrency exchanges.
You can buy it on an exchange or through a brokerage service. By Credit Cards or By PayPal, you can have the service. Of all them, I felt BuyUcoin is the safest, cheapest transaction fee and easiest interface of all them.
Why You should Choose BuyUcoin?
Of all the Other Indian Crypto Exchanges, BuyUcoin has better distinguished features.
1. BuyUcoin Platform
- BuyUcoin is the easiest exchange to buy and sell in Crypto World.
- Minimum amount of trading fee on direct buy/sell of Bitcoin to INR.
- Just One click Trade of all Ethereum coins and other Alt coins in India.
- With No KYC, maximum 10000 INR can be direct Buy/Sell of Bitcoins and other and No hidden charges.
2. OTC Desk
- The OTC desk features separates BuyUcoin from other Indian Crypto Exchanges.
- You can Direct Buy/Sell at huge amounts with 0% trading fee.
- You can exchange easily almost 40+ Cryptocurrencies.
Step by Step Guide for BuyUcoin
 |
| Steps for BuyUcoin |
1. Signup for a Digital Wallet
- You can look at the image and those are the requirements for the initial Signup!
- Email, password, and whethere you're an Individual or Corporate?
- Selecting Country (Spoiler Alert you're Indian!)
- How come you have known the website (*coughs "ME" coughs*)
- Click Create Account!
2. KYC(Know Your Customer) and AML(Anti Money Laundering)
- KYC and AML are mandatory for Indian jurisdiction.
- Your data is saved and encrypted and is stored in Indian data centers only.
- You will be redirected to a different URL to complete your KYC.
- Please be ready with your recent selfie. You will need the images of your pan card.
- You will need the mobile number with you which is linked with your Aadhar.
Identity Verification
- You will be asked to upload Identity document of yours, feel free to upload.
- Aadhar Card, Driving License works too.
- You will be asked to scan through your phone camera, i.e the front end of your Identity document, and the back end of your Identity Document.
PAN Verification
- You will be asked to upload your PAN document.
- You need to scan through your phone camera i.e the back end of your PAN card and the front end of your PAN card.
- The KYC team will review your details and update the status verified.
Selfie Verification
- You need to give access of your front camera and give a good pose(don't)
- You need to place your face inside a small circle and need to follow the necessary instructions there.
- Your face will verified to your documents of identity document and PAN document.
- Don't give others documents and mismatched selfie.
After sending required documents, the KYC team of BuyUcoin accepts your withdrawal requests and all. Now your account is verified.
3. Google 2-step verification Security
 |
| Secure with 2FA |
- To do Google 2-step verification, you have to install an authenticator app on your mobile or tablet.
- After it's enabling, you will be asked an Six-digit OTP(One Time Password) along with your E-mail and Password, everytime you login BuyUcoin.
- Install an Open and free authenticator like 'Authy' and 'Google Authenticator'. Both are Fine.
- Add your Google Account and scan the QR code and type the 6 digit OTP Manually. Now your BuyUcoin is even more secure.
4. Adding Bank Account Details
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| Add Bank details for buying Ethereum |
- Add Bank Name, Account Holder Name, Account Number, IFSC code, Account type i.e whether Savings or Current.
- Make sure the details match with your KYC details otherwise you will be in trouble.
- In case of Updated IFSC code, remove your Bank account and re-upload Bank details.
- Based on the Bank details and KYC information, your status will be Verified, Need Proof, In Progress, or Rejected.
Ethereum Mining
Ethereum Mining means "People Lend Out their Hardware's time and Computing Power to process transactions on Ethereum Network."
As Of May 9 2021, it would take 89.3 days to mine 1 Ethereum with current difficulty level. A mining hashrate of 500MH/Sec consuming 900 watts of Power at 0.10$ per KWH produces 2 ETH.
-- Happy Mining--
Summary for Lazy People
For those Lazy People who came straight down scrolling.
Is it Safe to Buy/Sell Ethereum?
Your Wish(YES!)
Can I Use Regular Money to Buy Ethereum?
Yes, you can use Regular Money to Buy Ethereum using BuyUcoin.
Where do I sing up for BuyUcoin?
Are there any Hidden Charges involved in BuyUcoin?
I don't think so(NO!)
How Much Can you Trade without KYC?
10,000INR
Which is easy to mine Bitcoin/Ethereum?
Ethereum Mining is more easy than Bitcoin Mining.
How do I Signup for BuyUcoin?
Go and Read the Article Lazya**!
Are you tired of Writing BuyUcoin?
no.(F'king YES!)
Trade wisely and Invest by researching thoroughly. Crypto World is only getting bigger and better. And it isn't going anywhere. It is the future no matter who disagrees.
The above information is to the best of my Knowledge!
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