Bitcoin’s climbing value has grabbed all of the focus, but it’s only one cryptocurrency out there. Should you would like to buy any of these in India, then you may not find it rather easy to do so directly. A fast search only revealed quite less-known and suspicious looking sites selling Ethereum in India — something you wish to avoid generally.
However, there is one reliable means of buying Ethereum or any other cryptocurrency in India, which basically involves purchasing Bitcoin and then converting it into the cryptocurrency of your selection. For this, you first will need to buy Bitcoin from India and then convert it. We used this method to buy Litecoin in India, but it is going to work for practically the other cryptocurrencies.
First you will need a wallet for the cryptocurrency of your selection. You can visit the official website for Ethereum or even Litecoin or other people to find a download link. This entails setting up two passcodes, one of which is a series of up to 24 words. Duplicate the receive speech for your cryptocurrency.
Next, you want to head to a cryptocurrency converter such as ShapeShift.
Select Bitcoin since the input money, and the output currency is clearly the one you desire. In our case, the output currency was Litecoin.
The address you copied in step 3 above needs to be glued into the Deposit Address area on ShapeShift.
You are able to replicate the receive speech from the Bitcoin wallet and glue it into the Bitcoin refund address area in ShapeShift. In case the transaction fails, the money will get reimbursed to your Bitcoin pocket quickly.
Now check I consent to terms, click Start transaction.
ShapeShift will now give you a new deposit speech. Duplicate this and return to your Bitcoin wallet. Now send the Bitcoin amount for this address. When the Bitcoin is received by ShapeShift, it will quickly convert it into the cryptocurrency of your choice.
Note that ShapeShift also has mobile apps, and though the method stays the same, the measures differ slightly if you want to use those to convert cryptocurrencies there. It’s also important to note that ShapeShift costs around 0.5 per cent for conversion, and sending Bitcoins to ShapeShift also has a miner fee related to it, which is something you need to cover each Bitcoin transaction. Having said that, this remains the easiest way to buy Ethereum or Litecoin in India.