Ethereum is the second largest cryptocurrency today with its market cap at over 60 billion USD. Having a very solid technology and ecosystem around it, there is tremendous interest from many Indians to participate in Ethereum trading. While we have many exchanges like UnoCoin and Coinome where customers can buy Bitcoin, Ether token trading is not supported in these platforms. In this article, we will look at 4 Indian cryptocurrency exchanges where users can buy Ethereum (ETH).
Indian exchanges where one can buy Ethereum (ETH) in INR:
Koinex is a Mumbai based cryptocurrency exchange that supports trading of Ethereum. With rapid user growth and support for other currencies like Litecoin, Ripple, and Bitcoin Cash, Koinex is one of the fastest growing crypto platforms in India.
BuyUCoin allows for crypto trading of over 30 currencies including Ethereum tokens. Some of the other tokens they support include Ripple (XRP), Bitcoin Cash (BCH), Bitcoin (BTC), Dash, NEM, Monero (MNR).
ThroughBit allows for Ether token trading through their INRFalcon currency which is pegged to the Indian Rupee (INR).
ethexIndia is a Hyderabad based Ethereum token exchange that bills itself as the first Ether token marketplace in India. With a sudden surge in demand, registrations for the platform are currently on hold. For now, if you want to buy Ethereum in INR, you may want to look at one of the other platforms.
FAQ – Frequently Asked Questions
- What is Ethereum?
Ethereum is a decentralized platform for applications that run exactly as programmed without any chance of fraud, censorship or third-party interference.
- Is Ethereum regulated in India?
Ethereum like other cryptocurrencies (Bitcoin, Ripple, etc) is not regulated in India. Recently, RBI issued a third warning against the risks of investing in cryptocurrencies, ICO’s, and token sales. Many believe that cryptocurrency is the future of money and continue to invest in Bitcoin, Ethereum, and other alternative currencies.
- What documents are needed for KYC?
- Identity Proof – PAN Card
- Address proof – Aadhaar card
- Bank documents – Passbook (or) Canceled Cheque