Bitcoin Alternatives: How to Buy Ethereum, Litecoin, Monero and Other Cryptocurrencies

Bitcoin’s rising worth has grabbed all the eye, nevertheless it’s not the one cryptocurrency on the market. Bitcoin Cash, Dogecoin, Ethereum, Litecoin, and Monero are simply among the different cryptocurrencies on the market. If you would like to purchase any of those in India, you may not discover it very simple to achieve this immediately. A fast search solely revealed reasonably less-known and suspicious trying websites promoting Ethereum in India — one thing you need to keep away from typically.

Ethereum, Litecoin, Dash, and Other Bitcoin Alternatives Explained

However, there’s one dependable manner of shopping for Ethereum or every other cryptocurrency in India, which primarily entails shopping for Bitcoin and then changing it to the cryptocurrency of your alternative. For this, first you want to purchase Bitcoin in India and then convert it. We used this methodology to purchase Litecoin in India, however it’s going to work for virtually all different cryptocurrencies.

What Is Blockchain? Blockchain Technology Uses Beyond Bitcoin and Cryptocurrency

1. First you want a pockets for the cryptocurrency of your alternative. You can go to the official web site for Ethereum or Litecoin or others to discover a obtain link.
2. Once you’ve downloaded this pockets in your PC or cellphone, you want to set it up. This entails organising two passcodes, certainly one of which is a collection of up to 24 phrases. Copy the obtain handle to your cryptocurrency.
3. Next, you want to head to a cryptocurrency converter akin to ShapeShift.
4. Select Bitcoin because the enter foreign money, and the output foreign money is clearly the one you need. In our case, the output foreign money was Litecoin.
5. The handle you copied in step 3 above wants to be pasted into the Deposit Address area on ShapeShift.
6. You can copy the obtain handle out of your Bitcoin pockets and paste it into the Bitcoin refund handle area in ShapeShift. In case the transaction fails, the cash will get refunded to your Bitcoin pockets shortly.
7. Now test I agree to phrases, click on Start transaction.
8. ShapeShift will now provide you with a brand new deposit handle. Copy this and return to your Bitcoin pockets. Now ship the Bitcoin quantity to this handle.
9. Switch again to ShapeShift and wait. Once the Bitcoin is acquired by ShapeShift, it’s going to shortly convert it to the cryptocurrency of your alternative.

Note that ShapeShift additionally has cell apps, and whereas the method stays the identical, the steps differ barely if you need to use these to convert cryptocurrencies there. It’s additionally necessary to notice that ShapeShift fees around 0.5 percent for conversion, and sending Bitcoins to ShapeShift additionally has a miner fee related to it, which is one thing you may have to pay for each Bitcoin transaction. That stated, this stays the simplest manner to purchase Ethereum or Litecoin in India.

For extra tutorials, head to our How To part.

Bitcoin is at an all-time excessive however do you have to nonetheless put money into it now? We mentioned this on Orbital, our weekly expertise podcast. You can pay attention to it by way of Apple Podcasts or RSS or simply pay attention to this episode by hitting the play button beneath.