How do I invest in Ethereum in INR?

With the cryptocurrency boom that has gripped the world, there has been a precedented rise of multiple cryptocurrencies that battle among each other to gain dominance among the investors. Currently, there are around 5000 different types of cryptocurrencies in almost 20,000 different markets for investors to choose from.

Since its inception in 2009, Bitcoin has been the leader in cryptocurrencies and has gained a substantial amount of trust among its investors and traders. But over the course of the last few years, many different cryptocurrencies like EOS, Dash, and Golem have gained a substantial foothold in the exchange markets and are bound to attract a lot of investors over the course of time. The most notable among them is Ethereum and its rising growth as an underdog in the cryptocurrency race.

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History of Ethereum ?

In 2013, Ethereum was described on a paper by a programmer, Mr. Vitalik Buterin and also the proposal of the development of Ethereum in a scripting language was done and white paper published too. In January 2014, the Etherum cryptocurrency was announced by Vitalik Buterin at North American Bitcoin Conference, held in Miami, USA. Formal development of the Ethereum software project began in early 2014 through a Swiss company, Ethereum Switzerland GmbH (EthSuisse). The Development was funded by an online public crowdsale during July–August 2014.

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Uses of Ethereum in India

Ethereum is generally sought by developers who are intending to create and run applications inside Ethereum. It also used for trading and is utilized like any other cryptocurrency exchange. Investors also utilize Ethereum as a means to monetize work inside Ethereum and to codify, secure, and trade almost everything inside the platform. Ethereum also partnered with Microsoft’s ConsenSys and thus offering Microsoft Azure users with Ethereum blockchain as a service and hence providing them with quick access to cloud-based blockchain developer environment.

Why to Buy Ethereum in India?

Ethereum also has a unique aim as compared to Bitcoin and similar cryptocurrencies. While Bitcoin, which was created by the enigmatic developer named Satoshi Nakamoto, as a resourceful alternative to fiat, centralized, and regulated currency issued by the government, Ethereum intends to be a platform that facilitates the development of trustworthy programs, contracts, and applications while utilizing a currency of its own in order to conduct business within the platform.

Although Ethereum can also be considered as a digital currency, its primary motive is to facilitate and monetize the operations within its platform rather than establishing itself as an alternative currency. Even though Ethereum shouldn’t be considered as a competition to Bitcoin and similar cryptocurrencies, its popularity among the investors soon pushed Ehtereum right behind Bitcoin in terms of market cap and is competing against all cryptocurrencies as of now.

How to Sell Ethereum in India?

Ethereum can be sold on exchange platforms that exist all over the internet. Ether can also be sold in exchange for fiat currency or other cryptocurrencies too. Ethereum can be sold on the same exchange platforms through which cryptocurrencies are bought. Selling Ether in India has become a lot easier due to the development of domestic cryptocurrency exchange platforms that provide cheaper exchange rates than their global counterparts and that too in INR. Since Etherium price is subject to market change like every other cryptocurrency, its value undergoes changes from time to time and hence might result in either a loss or a profit to the seller