How to Buy Ethereum in India?
If you’ve been reading this long enough, you’re probably one of the 1.2 billion people who own digital currency. It’s an amazing asset that can be used for a variety of different purposes, from purchasing goods and services to hosting virtual initialization. But like all assets, digital currencies have their risks. Many investors are hesitant to place their trust in something so volatile and untrustworthy. Ethereum is one of the most popular and accessible digital currencies available today. So, how do you buy Ethereum? Read on for more info! Where to buy Ethereum? Ethereum has been around since 2013, with the price at its peak reaching as high as $250 per token in 2017. Today, it trades at around $200 per coinmarketcap, making it one of the most popular open-source digital currencies available today. If you are looking for the best way to buy Ethereum, keep reading and we will guide you through the buying process. Read on to know what you need to know!
What is Ethereum?
Ethereum is an open-source, public blockchain-based platform that can be used to build decentralized applications. In other words, Ethereum works like a platform that allows for the creation of decentralized user-controlled digital tokens called "Ethereum Tokens" (ETH). Working with Ethereum means that you are connecting your computer to a shared computing system called a "gas station" where other users connect using their computers as miners. These miners compete to verify and add transactions to the public ledger called the Ethereum blockchain. If they succeed, they get rewarded with ether (ETH) and if they fail, they get penalized with gas (g). This mechanism makes cryptocurrencies like Bitcoin and Litecoin uncannily similar to how energy is released into the Earth by miners in their respective solar systems.
Ethereum also has smart contracts which are Essentially statements that can be combined to form something called an "ERC21 token" or ERC20 token. Smart contracts are electronic code written in Solidity which can be translated into various programming languages known as "Ethereum protocols". As of late 2017, Ethereum has attracted many developers who are building decentralized apps based on its smart contract platform, including cryptocurrency developers looking for ways to monitor and manage their investments and implement smart contract solutions for business purposes.
Ether can be exchanged for different currencies, commodities, and other cryptocurrencies on the Ethereum network. The value of ether fluctuates depending on demand and supply; while it was trading at around $1 in late 2016, it has grown in value by more than 300% over the past few years.
Facts about Ethereum :
Ethereum and Bitcoin are two of the most popular digital currencies that have come from this crazy world of cryptocurrency. Ethereum has had a lot of amazing moments over the past few years, but one of the most explosive came in 2013 when its token sale topped out at $13 million in funding. As a result, Ethereum experienced massive growth that year, with new applications popping up almost daily. Today, Ethereum sits at around $3 billion in market capitalization and machine-learning AI is transforming financial services as we know them. Ethereum vs Bitcoin is just one example of this greater trend where blockchain technology has taken center stage.
Pros of Cryptocurrencies :
Decentralized — No single entity can control the cryptocurrency system. This prevents spin-offs and other manipulative attacks from taking place. Highly resistant to government regulation
Ownable — Cryptocurrencies can only be purchased and stored securely on an individual’s personal computer or device. There is no third-party exchange, thus ensuring personal accountability while maintaining privacy and security.
Simple — It’s easy to understand how a cryptocurrency works giving users little reason to question its value or its intrinsic worth in general. It’s also cheap — buyers commonly accept payment options like IMPS, NEFT & RTGS which makes it more accessible than other cryptocurrencies.
How to Buy Ethereum with INR?
Ethereum investment can be simpler than you think. Here are the initial five steps to get you going:
- Choose a cryptocurrency exchange platform that is globally accessible like Koinbazar. Koinbazar is a global cryptocurrency exchange platform to buy, sell and trade crypto’s in different markets using Koinbazar App.
- Create a crypto trading account on Koinbazar
- Complete KYC verification within 5 Mins
- Add Bank Account Instantly
5. Buy Ethereum with INR on Koinbazar