Bitcoin’s climbing worth has grabbed all the attention, but it’s not the only cryptocurrency on the market. Bitcoin Cash, Dogecoin, Ethereum, Litecoin, and Monero are only some of the additional cryptocurrencies on the market. If you would like to buy one or more one of these in India, you might not find it rather easy to do this straight. A quick search only revealed quite less-known and suspicious looking websites selling Ethereum in India — some thing you want to avoid generally.
However, there’s one reliable means of buying Ethereum or some other cryptocurrency from India, which basically involves buying Bitcoin and then converting it to the cryptocurrency of your choice. For this, first you need to purchase Bitcoin from India and then convert it. We used this method to purchase Litecoin in India, but it will work for practically the other cryptocurrencies.
First you will need a wallet for the cryptocurrency of your choice. You can visit the official site for Ethereum or even Litecoin or other people to find a download link.
Once you’ve downloaded this wallet on your computer or phone, you have to set it up. This entails setting up two passcodes, among which is a series of up to 24 words. Duplicate the get speech for your cryptocurrency.
Next, you want to visit a cryptocurrency converter such as ShapeShift.
Select Bitcoin since the input currency, and also the output currency is obviously the one that you want. In our case, the output currency was Litecoin.
The address you’ve copied in step 3 above must be glued into the Deposit Address area on ShapeShift.
You are able to copy the receive address from your Bitcoin wallet and paste it into the Bitcoin refund address area in ShapeShift. In the event the transaction fails, the cash will get refunded to your Bitcoin pocket quickly.
ShapeShift will now provide you a brand new deposit address. Duplicate this and return to your Bitcoin wallet. Now send the Bitcoin amount to this speech. When the Bitcoin is received by ShapeShift, it can quickly convert it into the cryptocurrency of your choice.
Note that ShapeShift also has mobile apps, and while the process stays the same, the measures differ slightly in case you want to utilize those to convert cryptocurrencies there. It’s also important to be aware that ShapeShift costs around 0.5 percent for conversion, and sending Bitcoins into ShapeShift also includes a miner fee associated with it, which is something you have to cover each Bitcoin transaction. Having said that, this remains the simplest way to buy Ethereum or Litecoin in India.