Bitcoin’s rising value has grabbed all of the focus, but it’s not the only cryptocurrency on the market. Bitcoin Cash, Dogecoin, Ethereum, Litecoin, and Monero are only some of the additional cryptocurrencies out there. If you would like to get one or more one of these in India, then you might not find it very easy to do so directly. A fast search only revealed quite less-known and suspicious looking sites selling Ethereum in India — something you want to avoid generally.
But, there’s one reliable means of buying Ethereum or any other cryptocurrency from India, which basically involves buying Bitcoin and then switching it to the cryptocurrency of your choice. For this, you first need to buy Bitcoin from India and then convert it. We used this method to buy Litecoin in India, but it will work for practically all other cryptocurrencies.
First you need a wallet for your cryptocurrency of your choice. You can visit the official site for Ethereum or even Litecoin or other people to discover a download link. This involves setting up two passcodes, among which is a series of around 24 words. Copy the receive address on your cryptocurrency.
Next, you need to head to a cryptocurrency converter like ShapeShift.
Select Bitcoin since the input currency, and the output currency is clearly the one you want. In our instance, the output currency was Litecoin.
The address you copied in step 3 above must be glued in the Deposit Address field on ShapeShift.
You are able to replicate the receive speech from your Bitcoin wallet and paste it to the Bitcoin refund address area in ShapeShift. In the event the transaction fails, then the cash will get refunded to your Bitcoin pocket quickly.
Now check I agree to terms, click Start transaction.
ShapeShift will now provide you a new deposit address. Copy this and return to your own Bitcoin wallet. Click the Bitcoin amount for this address.
Switch back to ShapeShift and wait patiently. Once the Bitcoin is received by ShapeShift, it can quickly convert it into the cryptocurrency of your selection.
Be aware that ShapeShift also has mobile apps, and while the process stays the same, the steps differ slightly if you would like to utilize those to convert cryptocurrencies there. Additionally, it is important to note that ShapeShift charges approximately 0.5 per cent for conversion, and sending Bitcoins to ShapeShift also has a miner fee related to it, which is something you have to pay for each Bitcoin transaction. Having said that, this is actually the simplest way to purchase Ethereum or even Litecoin in India.