Bitcoin’s rising value has grabbed all the attention, but it’s not the only cryptocurrency out there. Bitcoin Cash, Dogecoin, Ethereum, Litecoin, and Monero are just some of the other cryptocurrencies out there. If you wish to buy any of these in India, you might not find it very easy to do so directly. A quick search only revealed rather less-known and suspicious looking sites selling Ethereum in India — something you want to avoid in general.
However, there’s one reliable way of buying Ethereum or any other cryptocurrency in India, which essentially involves buying Bitcoin and then converting it to the cryptocurrency of your choice. For this, first you need to buy Bitcoin in India and then convert it. We used this method to buy Litecoin in India, but it will work for practically all other cryptocurrencies.
Note that ShapeShift also has mobile apps, and while the process remains the same, the steps differ slightly if you want to use those to convert cryptocurrencies there. It’s also important to note that ShapeShift charges around 0.5 percent for conversion, and sending Bitcoins to ShapeShift also has a miner fee associated with it, which is something you have to pay for every Bitcoin transaction. That said, this remains the easiest way to buy Ethereum or Litecoin in India.
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Bitcoin is at an all-time high but should you still invest in it now? We discussed this on Orbital, our weekly technology podcast. You can listen to it via Apple Podcasts or RSS or just listen to this episode by hitting the play button below.