5 Reasons to Buy Ethereum in India
- Second Largest Cryptocurrency by Market Cap.
- Unlike Bitcoin, Ethereum is more than a digital currency; it is a platform for developers to build decentralized applications
- Since 2015, Ethereum has grown over 500% in 5 years
- It can process upto 30 transactions per second
- The expected launch completion of Ethereum 2.0 by the end of 2021 will boost its transaction speed by 1,00,000 transactions per second while also reducing the cost. Ethereum 2.0 is an upgrade of the existing network, rolling out in a phase-wise manner.
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What is Ethereum?
Launched in 2015, Ethereum is the second-largest cryptocurrency by market capitalization.
It was the first-ever cryptocurrency to introduce Smart Contracts and enable developers to build decentralized applications on its network. All other cryptocurrencies that came before Ethereum were focused only on decentralising payments; however, Ethereum originated with the idea to take things to the next level; it aims to decentralise everything on the internet – Social Media, Gaming, etc.
To date, over 3000 applications are running on Ethereum.
3 Things to know while Investing in Ethereum (eth)
- It’s the second-gen blockchain technology, an upgraded version of Bitcoin, Litecoin etc
- It develops on Bitcoin’s shortcomings by processing faster and cheaper transactions
- Ethereum has an unlimited supply of Ether tokens, with 18M tokens being mined every year.
- Over 3000 applications run on Ethereum.
CoinSwitch Kuber is the simplest way to buy Ethereum in India. Sign up now and start investing with ₹100 <https://www.youtube.com/watch?v=X7M22_jVMfM>
To buy Ethereum directly, you can engage in P2P (Peer to Peer) trade. If there’s somebody you know who already has Ethereum, you can buy directly from them, OR You can use decentralized exchanges to connect with a seller and buy Ethereum from them. However, these ways might be better suited to pro traders because, for P2P trades, you should have a trustworthy seller and the decentralized exchanges have a very tricky functioning.
If you are new to cryptocurrency, you might want to take the simplified route and Download CoinSwitch Kuber!
To convert your Ethereum into INR, you will have to first sell it so initiate a sell order for your Ethereum holdings on the exchange you are using and get INR in return. After that, withdraw INR to your bank account or buy another cryptocurrency with it.
If you are using CoinSwitch Kuber, here’s a video to walk you through the process:
Buying cryptocurrencies is very straightforward; If you don’t already have an account with a cryptocurrency exchange, you can create a KYC’ed account in less than 5 mins on CoinSwitch Kuber.
Once you have your account set up, you can deposit money from your bank account to your CoinSwitch Wallet and start buying Ethereum in just a few clicks.
You can buy Ethereum in just 4 steps on CoinSwitch Kuber:
- Open CoinSwitch Kuber, click on the Market tab from the bottom navigation and select Ethereum.
- Click on the ‘Buy’ button.
- Enter the amount that you would like to buy Ethereum for, say ₹100, and click on the ‘Preview Buy’ button
- Check all the details of your order and proceed by clicking ‘Buy.’
Congratulations, you just bought your first Ethereum!
There’s no answer to at which price you should buy a cryptocurrency because most of the cryptocurrencies are still evolving, and you may become more high value over the next few years, and then you will regret not buying it at the earlier price.
Instead, you can invest small amounts periodically and balance the opportunity and risk. Start investing in Ethereum for as low as ₹100
Again, there’s no best time to invest in assets because if you are waiting for that golden moment to come where you will get everything for cheap, you are losing out on the opportunity of Starting Now that’s already in your hand.
So just begin and start investing small amounts periodically; however, you can optimise on opportunities like dips where you can invest a lump sum in the asset at an undervalued price.
CoinSwitch Kuber could be the easiest and most trusted way to buy and sell cryptocurrencies, with more than 6M+ people trading on the platform. You can create an account on CoinSwitch Kuber and buy Ethereum in under 5 mins.
Buying Ethereum can either be the most complicated and tiresome job or as easy as ordering food; what you experience depends on who you choose.
Most cryptocurrency apps that we have around are too complex and cluttered and can make buying crypto a pain; however, CoinSwitch Kuber takes away all the intricacies of buying cryptocurrencies allowing you to buy cryptocurrencies with ease.
Though the value of one Ethereum may be over ₹1,40,000, you can acquire a portion of it for a minimum of ₹100.
Alternatively, if you are talking about the platform charges to buy Ethereum, every exchange has a different fee structure ranging anywhere from 0.2% – 0.5%, but if you are on CoinSwitch Kuber, Congratulations! we do not charge you any fees for depositing and withdrawing INR, i:e you can buy Ethereum without any extra fees.
Ethereum kicked off with a very firm fundamental of taking blockchain to the next level, and considering its market cap; it has successfully managed to uphold people’s interest and trust in itself. Consequently, the 5-year returns (2015- 2020) of it is also exceptional, with a gain of 500%.
As a cryptocurrency, Ethereum is a promising investment; however, if it is a good choice for your portfolio depends on multiple factors like your risk appetite, investment period and understanding of its technology.
Since cryptocurrencies are still an emerging asset class, they experience high volatility, but they might become less volatile as they grow over time. However, big cryptocurrencies like Bitcoin and Ethereum are comparatively less volatile and more trustworthy than other market entrants.
So if you are looking to invest in cryptocurrencies, Ethereum might be safer than other lesser-known cryptocurrencies.
Crypto itself as an asset class is a smart investment tool. It is for people who believe in the power of decentralisation and have a futuristic vision, and Ethereum could be one of the ways you invest in a smart asset class.