The recent regulations announced by the Reserve Bank of India (RBI), have clarified many things for cryptocurrency enthusiasts.
Just a few years ago it was illegal to buy cryptocurrencies like Ether (commonly referred to as Ethereum even though it is the name of the platform and Ether is the cryptocurrency).
But now, you can use real money to buy Ethereum and it is completely legal in India to do so. But how to Buy Ethereum in India?
There are many cryptocurrency exchanges operating in India which allow its users to buy Ethereum. Some of those are WazirX, CoinDCX, Giottus, Bitbns and Buyucoin.
We will now take a deeper look into how to buy Ethereum in India using each of these exchanges.
The list of cryptocurrency exchanges is likely to increase in the near future, but for consistency, we have only included the ones well-known at the time of writing.
How to Buy Ethereum in India using WazirX?
Acquired by Binance in 2019, WazirX is a Mumbai-based Cryptocurrency exchange. WazirX allows its users to use the cryptocurrency exchange platform from smartphones, Windows PCs and Macs.
It has its own WRX tokens that can be used to pay the transaction fees internally, and it is the most popular cryptocurrency exchange among Indian traders.
You can simply follow these steps to get to know the answer to ‘How to buy Ethereum in India’:
- Create an account. If you don’t have one already, you can use the WazirX website or app to create one for yourself.
- Verify mail and complete KYC. Unlike BInance, you need to complete the KYC in order to be able to buy Ethereum on WazirX.
- Make an INR deposit into your WazirX account. You can use IMPS/NEFT/RTGS for this purpose. You can also deposit another cryptocurrency into your WazirX account and use it to purchase Ethereum.
- Visit the exchange for current Ethereum pricing and buy Ethereum. Once the transaction is executed, Ethereum will be added to your WazirX wallet.
How to Buy Ethereum in India using Giottus?
With instant UPI deposits now available, Giottus has become the go-to option for all cryptocurrency buyers recently.
The process to buy Ethereum is similar on most of the platforms mentioned here, you first need to register one account. Then complete KYC by submitting the necessary documents.
Once you complete INR deposits, you have to visit the exchange and then select the amount of cryptocurrency of your choice to buy.
However, the Giottus platform can be accessed only through the Android app. Hence, people on other platforms may feel they are being left out.
How to Buy Ethereum in India using Bitbns?
The answer to How to Buy Ethereum in India with the Bitbns platform has a similar story with all other exchanges. The Bitbns platform can be accessed through its website and mobile app
For KYC on Bitbns, you need to upload photocopies of Aadhar, PAN (driving license is also accepted for Assam residents), and the verification process generally takes half an hour during weekdays.
INR deposits are supported through NEFT, IMPS and RTGS.
How to Buy Ethereum in India using BuyUCoin?
BuyUCoin cryptocurrency exchange can be accessed through Android, iOS apps as well as through the official website.
Like Giottus, BuyUCoin also supports UPI payments, which means that users can use Google Pay, Phonepe, PayTM, and iMobile to make INR deposits instantly.
Consistent with other cryptocurrency exchanges in India, BuyUCoin also requires you to complete KYC verification.
Although you do not need to complete any KYC for direct buy-sell of bitcoin and other altcoins for the maximum value of 10,000 INR!
This means you have to keep PAN photocopies, bank details, your recent photograph handy while creating your account with BuyUCoin only if you wish to exceed these limits.
We at CoinTikka do not recommend this exchange, trade at your own risk.
In the End
With recent developments legalizing Cryptocurrency, regulations in place, and the rise of competing cryptocurrency exchanges, buying Ethereum in India has become pretty straightforward.
All you need now to buy Ethereum in India is a bank account to deposit money from, your Aadhar and PAN photocopies, a recent photograph, and a device to access the platform.
Most of these exchanges support Android smartphones and also allow access through official websites.
With the introduction to UPI, depositing real money into the virtual wallets of these cryptocurrency exchanges has become super easy. Thus, streamlining the user experience while allowing real-time deposits!
I hope this article helps you and if you have any queries related to it then do leave your comment below. If you have not joined our community then you can now. We are very active there and have been sharing important information there.
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