How to buy Bitcoin/Ethereum or Altcoins in India

in #india7 years ago (edited)

I've been into cryptos for almost a year and I think I know enough about it. Many people ask me how they can invest in cryptocurrencies in India.

Few years ago it was very hard for Indians to invest in cryptos because there were very few exchanges that buy and sell bitcoins and ethereum. Fortunately, many exchanges have sprung up and buying cryptos in India has become a lot easier lately.
Here are the steps to buy various cryptos in India

Buying Bitcoins

Method 1

  1. Install Zebpay App on your phone
  2. Sign Up and Submit the required documents online
  3. Place an order and instantly recieve your bitcoins in Zebpay's online wallet. Payment can be via Net Banking, NEFT, and IMPS.

Method 2

  1. Sign up on LocalBitcoins.com
  2. Select one from hundreds of traders available on the site. Look for good reputation and trusted profile.
  3. Complete the trad, use the escrow service provided by locatbitcoins.

Buying Ethereum

Method 1

  1. Sign up on EthexIndia.com and submit the required documents, wait for approval
  2. Place an order and receive your ether in the ethexindia wallet.
    (this method has downsides, approval takes weeks and you cannot trade less than 1 ETH)

Method 2

For this method you need bitcoins to trade for ether.

  1. Create an offline wallet using Myetherwallet.com. Note down the address, keep multiple backups of private keys.
  2. Go to shapeshift.io
  3. Select "Deposit BTC" and "Receive ETH"
  4. Click continue and mention the address that you created in step one.
  5. Sent BTC to their address mentioned in screen and wait for some time, ether will be sent to your wallet.

Buying Altcoins

  1. Sign up on Poloniex or Bittrex, no documents or KYC needed.
  2. Click on "Balances" and Find you bitcoin deposit address.
  3. Deposit BTC to their given address.
  4. Wait for confirmation, after that you can use that BTC to buy other coins on

** Important Tip - If you want to hold for long time, Always use an offline wallet to store your coins, DO NOT KEEP YOUR COINS ON EXCHANGES. **
** Also, always keep multiple backups of your private keys in different locations. **