Buy Ethereum (ETH) in India Securely With Lowest Fees

The world's largest altcoin and Bitcoin's biggest competitor, Ethereum, operates as an open-source blockchain with smart contract functionality. But Ethereum isn't merely the second largest cryptocurrency. Considering its scalability and versatility, Ethereum is popularly known as the world's most programmable blockchain. It is the foundation of all major decentralized finance services and products developed today.

While many crypto enthusiasts believe Ethereum is overshadowed by the mighty Bitcoin, Ethereum is still significant in the crypto world. It is widely recognized within and outside the crypto community for its innovative blockchain solutions and is the basis upon which Web3 applications are being developed.

Ethereum finds utility across various sectors, such as real estate, healthcare, and more, and it is central to creating applications and solutions of tremendous value. Ethereum has moved far from being a consensus mechanism and a transactional currency to become a repertoire of blockchain opportunities.

Considering these factors, Ethereum is one of the top cryptocurrencies for first-time and seasoned investors in India. Having said that, the crypto market in India is still growing with limited avenues for investors to invest and buy Ethereum in a secure, transparent and cost-effective manner.

If you are wondering how to securely buy Ethereum (ETH) in India with the lowest fees, you're not alone. By the end of this blog, you shall have clarity on where and how to buy Ethereum, the safety and legality of buying Ethereum in India, and how you can safeguard your crypto investments by choosing the best FIU-registered crypto exchange.

Introduction to Ethereum

Ethereum is a decentralized global platform powered by blockchain technology. Anyone can use Ethereum—it's designed to be scalable, programmable, secure, and decentralized—to create any secured digital technology.

Ether (ETH), the native token, and Ethereum, the platform, were launched in 2015. Ether was originally designed to pay for work on the blockchain, but today, participants can also use it to pay for tangible goods and services across leading retailers and markets.

Ethereum was initially launched under the name "Frontier". It started as a proof-of-stake blockchain but transitioned into a proof-of-work (PoW) protocol in 2022. Thanks to its shift to PoW, Ethereum has gone from being one of the biggest polluters to an eco-friendly crypto.

Today, Ethereum is the second most popular crypto after Bitcoin. It scores a notch above the mighty B as it has many more use cases in comparison, which are being leveraged to create several web3 products and services such as DeFi services, smart contracts, layer 2 solutions, dApps and more.

ETH debuted for $.31 per coin. In July 2024, the price of Ether was 1107319.354% higher. Despite this massive jump, the price of Ethereum has seen its fair share of crests and troughs. Further, Ethereum's price rise has been steady over the years, corroborating its place as a worthy crypto investment.

Despite launching in 2015, it was only in 2017 that Ethereum breached the $100 mark. However, shortly after scaling the milestone, Ethereum touched $1000 within the first week of 2018. Much like all cryptos, including Bitcoin, Ethereum crashed in 2018 and plummeted to $100 a piece by the end 2018. Riding on its widespread acceptance and various technological upgrades, Ethereum steadily grew from 2019 to 2021 to reach its all-time high of $4878 in November 2021.

For those doubting whether the price of Ethereum can rise further, the party has only just started. Ethereum has an unlimited supply of Ether coins, with 18 million coins being mined every year. Thus, if you want to buy Ethereum in INR, you ought to add this lucrative asset to your crypto bucket as soon as possible!

Where to Buy Ethereum in India?

First-time crypto investors are often confused about how to buy Ethereum in India. Those looking to join Ethereum in its success story can easily buy Ethereum in INR from a crypto exchange in India.

Several crypto exchanges in India are available as web platforms and mobile applications. Choosing the right crypto exchange is as important as choosing the right cryptocurrency to invest in. Remember to conduct due diligence on the crypto exchange you are choosing. Ensure it is a reliable and FIU-compliant platform with an easy user interface, low trading fees and offering trading pairs for Ethereum.

For the uninitiated, trading pairs or cryptocurrency pairs are a combination of 2 assets that can be traded for each other on an exchange, facilitating more avenues for short-term trading and liquidity.

Considering these factors, Flitpay emerges as the best exchange to buy Ethereum in India. Flitpay is a leading free-to-use crypto exchange in India that complies with the regulatory framework. It offers a zero-fee KYC process for all users and a two-factor authentication system, ensuring a secure, transparent, and convenient platform to trade and store your crypto investments.

How to Buy Ethereum (ETH) in India?

First-time investors are often confused and apprehensive about taking the plunge into the crypto market and registering themselves on a crypto exchange. Believe it or not, buying Ethereum (ETH) in India is as easy as online shopping!

We will take you through the step-by-step process of signing up on India's leading crypto exchange, Flitpay, and guide you through your first Ethereum purchase.

Flitpay is a trusted and customer-friendly crypto exchange, and investor interest is fundamental to its functioning. We empower our customers and encourage them to educate themselves on the legalities, regulatory framework for cryptos, and taxation landscape of cryptocurrency in India to make informed investment decisions.

Here is how you can register yourself on Flitpay and become an Ethereum holder:

Step 1 - Create & Verify Your Account on Flitpay

The first step to buying Ethereum in INR is to create and verify your account on a reputable crypto exchange in India, such as Flitpay. This can be done quickly by keying your email ID & password and completing a two-factor authentication from your registered email ID and your registered mobile number. Next, enter your Permanent Account Number (PAN), a selfie of yourself, and your address and date of birth to complete your KYC verification to comply with the regulatory requirements. Duly completing the KYC process ensures security for your crypto transactions and investments.

Step 2 - Add Funds to Your Exchange Wallet

After completing the sign-up and KYC verification, add funds to the exchange wallet in order to buy Ethereum in INR. This can be done in various ways, such as IMPS/NEFT/RTGS, through your registered bank account. Investors must note that Flitpay's banking partners charge INR deposit and withdrawal fees to facilitate seamless services. These charges are minimal and applicable every time you withdraw money from your bank account or deposit money from your bank account in the Flitpay wallet.

Step 3: Place Your Ethereum Order

Once the funds are transferred to your Flitpay wallet, you can place your Ethereum order by keying in the amount in INR corresponding to the ETH units you wish to buy. Then, select a payment method and click ' Buy ETH' to complete your purchase.

Step 4: Store Your Ethereum Securely

Now that you have bought Ethereum, it is important for your assets to be stored with utmost security. Flitpay possesses multi-sig custodial wallets for robust security, where investors' crypto holdings are entirely safe, and they can securely and seamlessly withdraw/deposit their digital assets for trading and investment purposes.

Is it Safe to Buy Ethereum in India?

Yes, it is safe to buy Ethereum in India. Ethereum is available across all FIU-registered cryptocurrency exchanges in India, including Flitpay.

Additionally, Ethereum proves to be a worthy and secure investment. If you look at the price prediction of Ethereum in INR on any leading crypto platform, it is evident that Ethereum has a promising future, according to industry experts and is poised to grow exponentially over the years. Ethereum has consistently found itself among the best crypto tokens to buy for long-term investment. So, on all fronts, Ethereum is a safe buy.

From a safety perspective, investors need to go beyond evaluating Ethereum and the Ethereum ecosystem's robustness and assess the security of the medium of investment. Cryptocurrency exchanges in India are currently regulated by the Financial Intelligence Authority (FIU). The regulatory framework for cryptocurrencies in India is still nascent; therefore, investors must conduct due diligence on cryptocurrency exchanges and choose a safe, secure, and transparent platform. Considering these points, Flitpay is indeed the best option for cryptocurrency exchange in India.

Flitpay is India's leading free-to-use crypto exchange that complies with FIU's regulatory framework. It offers a zero-fee KYC process for all users and a two-factor authentication system, ensuring a secure, transparent, and convenient platform for trading and storing crypto investments.

Is it Legal to Buy Ethereum in India?

Yes, purchasing Ethereum is legal in India. Currently, there are no bans or restrictions on cryptocurrency investment in India, and Ethereum is one of the cryptos most preferred worldwide for investment.

Having said that, the regulatory framework for cryptocurrencies in India is still nascent. All cryptocurrencies in India, including Ethereum, are currently not regulated by any central authority. All crypto exchanges trading and storing cryptocurrencies must be registered with the Financial Intelligence Unit. The Cryptocurrency Bill was also presented in Parliament in 2021, proposing a more comprehensive and structured legal and regulatory framework for cryptocurrencies in India. However, the bill is still in its development stage and is yet to be tabled in its final version.

However, there are no rules, regulations, or guidelines for settling disputes while dealing with cryptocurrency. Investors must conduct due diligence before investing in the highly volatile and uncertain crypto market.

Further, the Government of India recognized cryptocurrencies as digital assets and Cryptocurrency Taxation was introduced in the Union Budget 2022 with the following taxation framework:

• Income from the transfer of virtual digital assets such as crypto and NFTs will be taxed at 30%.
• 1% TDS will be applicable on all sell transactions of Virtual Digital Assets (VDAs), including cryptocurrencies and NFTs, from 1 July 20
• Loss from digital assets cannot be set off against any other income.
• Gifting of digital assets will attract tax in the hands of the receiver.
• Losses incurred from one virtual digital currency cannot be set off against income from another digital currency.

For more, refer to our ultimate guide to crypto taxation in India.

In conclusion, investing in Ethereum is legal in India. However, investors must consider the above regulatory, legal, and taxation factors before making crypto investments.

Reasons to Buy Ethereum in India

There is nothing that Bitcoin can do that Ethereum can't. These famous words by crypto entrepreneur Fred Ehrsam encapsulate how significant Ethereum is to the development, versatility, and advancement of cryptocurrency and blockchain globally. While Bitcoin is currently the top cryptocurrency, Ethereum is its biggest competitor, with market experts speculating that Ethereum may even surpass Bitcoin in the future.

If you are still contemplating whether Ethereum deserves a spot in your crypto bucket, read on to discover why Ethereum is a worthy investment and ought to be in every cryptocurrency portfolio.

• The upcoming Ethereum Pectra upgrade expected to roll out in Q4 2024 will introduce multiple helpful improvements to Ethereum, making it more optimized, convenient and flexible than ever.
• The Ethereum ETF Approval from the Securities and Exchange Commission (SEC) in May 2024 is expected to take the price of ETH to new heights.
• Ethereum's roadmap shows the ecosystem is constantly reinventing itself to become a robust platform and upgrade its sustainability, security and scalability.
• Ethereum also has Danksharding on the horizon, enabling the Ethereum network to process the bundled transactions that come from layer two roll-ups without storing all their data permanently.
• The Merge upgrade enhanced the network and reduced energy consumption. Its proof-of-stake validation mechanism is more environmentally friendly than proof-of-work mechanisms.
• Ethereum has better leadership, a higher developer mindshare and stronger community support compared to other cryptos.
• Over 3000 apps and counting run on Ethereum.
• Ethereum has an unlimited supply of Ether coins, with 18 million coins being mined every year.

What is the Minimum Amount of Ethereum that I Can Buy?

Just like investing in the stock market, there is no minimum amount necessary to invest in Ethereum. Investors looking to invest in Ethereum can do so with a minimum amount of INR 100 on Flitpay. For INR 100, investors can buy 0.00034ETH based on the price of Ethereum at the time of writing, which is INR 292,919.67 for one ETH.

That said, investors must make an informed investment decision and familiarize themselves with the legal and taxation landscape around cryptocurrency in India. Further, the cryptocurrency market is a volatile and uncertain space. Investors must conduct due diligence on the market and Ethereum before investing in crypto.

Which is the Best Crypto Exchange in India to Buy Ethereum?

Investors can buy Ethereum in INR from FIU-compliant crypto exchanges registered in India. Before choosing a crypto exchange, ensure that due diligence is conducted on its authenticity, trading fees, security measures, and other relevant information.

Considering the aforementioned factors, Flitpay emerges as the best platform for buying Ethereum in India. Flitpay is India's Popular free-to-use crypto exchange that provides a seamless experience for cryptocurrency trading and INR deposits/withdrawals without limiting terms and conditions. This secure and robust platform has a zero-fee KYC process and a two-factor authentication system, making it a secure and transparent platform for first-time investors and seasoned traders.

Which Crypto Exchange in India Provides Ethereum Withdrawal?

All FIU-registered crypto exchanges in India provide Ethereum withdrawal. However, it is important to choose the best crypto exchange for the Ethereum withdrawal with due thought and caution.

Choosing a compromised exchange can cause regulatory, transparency and transaction execution problems. Opt for a crypto exchange that is secure and transparent in its operations, charging the lowest fees to its customers and complying with the regulatory framework for crypto exchanges listed with the FIU.

Flitpay is a reliable FIU-registered crypto exchange in India that provides instant crypto withdrawal for all cryptocurrencies, including Ethereum. We at Flitplay are proactively taking measures, in adherence to FIU regulations, to empower users to safeguard their crypto assets and seamlessly transfer Ethereum from other exchanges to Flitpay.

Moreover, Flitpay does not charge any fees for crypto deposits and withdrawals. So, you can freely deposit or withdraw your Ethereum holdings without any fees.

Here is a detailed step-by-step process to transfer Ethereum from any crypto exchange in India to Flitpay.

Step 1:

Log in to the Flitpay website or app and tap the 'Deposit' button.

Step 2:

Choose the crypto you want to transfer from the other crypto exchange into your Flitpay crypto account. In this case, we shall choose Ethereum.

Step 3:

Once you click Ethereum, a deposit form will open on the Flitpay app. This will display the QR code and the wallet address that you will need to initiate the withdrawal process on the crypto exchange app. Copy the QR code and the wallet address onto your clipboard before proceeding further.

An important point investors must note here is to only send Ethereum through the Ethereum chain and not any other cryptocurrency. If investors try to send other cryptos through the Ethereum chain, there is a chance of losing the digital asset. To send any other crypto, such as Dogecoin or Uniswap, you will have to choose that crypto after clicking the 'Deposit' button.

Step 4:

Next, open the crypto exchange app/website and navigate to the withdrawal section. Click on the token you wish to withdraw, in this case, Ethereum. Next, click on the 'Send via Crypto Network' option.

Step 5:

Once you click the 'Send via Crypto Network' option, a withdrawal form will open on the app/website. Here, you have to paste the Flitpay wallet address and QR code that you copied onto your clipboard earlier. In the withdrawal form, you must also fill in the necessary details, such as the amount of Ethereum you wish to withdraw and the particulars of your crypto wallet on the exchange.

Step 6:

Upon clicking the withdrawal button on the app, you can now shift to the Flitpay interface and wait for the transfer to be processed. Once Ethereum hits the Flitpay crypto account, all you need to do is fill in and verify your details by submitting a self-declaration mentioning the purpose of the transfer from the crypto exchange to Flitpay.

Step 7:

Once you complete the above self-declaration, the transfer is under process and will be duly completed.

Investors must note that Flitpay does not charge crypto deposits and withdrawal fees. So, if you are considering moving Ethereum or any other cryptocurrency from another exchange to Flitpay, Flitpay levies no charges for the same. You can begin trading and investing using Flitpay with the applicable trading fees.

Sign-up on Flitpay Now to Buy Ethereum in India Securely with as low as INR 100.