Buying Ethereum in India has become very simple and easy. With new sites launching every new month, it is actually difficult to decide where to buy Ethereum or any other cryptocurrencies from. Well, today, I am sharing my review about Ethx.
If you are looking to buy Ethereum in India, give a try to Ethx.in. You can buy via net banking, IMPS, debit card, credit card or any other payment exchange.
Ethx.in Review: Making Ethereum purchase easy
Ethx.in is an Indian exchange which offers you to buy Ethereum using INR. On Ethx, you can instantly buy or sell Ethereum. Unlike on any other platform, where a seller is needed if you want to buy or a buyer is needed if you want to sell, on Ethx you don't have to worry about that. You can buy or sell Ethereum without any wait. It's UI is simple to understand and easy to use.
How to register on Ethx?
Since Ethx.in is INVITE only exchange, you will need someone to help you with the invite. Once you sign you, you will find that you are in a queue and your KYC verification may take a long time. However, both the problems have been taken care of.
Bharatafinance have partnered with Ethx to get our members a quick KYC approval through our Bharatafinance invite link.
To register for ETHX, click here.
Fill up your details and press submit. You will get a verification link in your registered inbox. Verify your email from that link and tada, you are set to go.
2. Faster KYC verification
Go to KYC and submit your bank details. You will receive a verification call from Ethx.After you bank account verification, go to identity verification and upload your PAN and Aadhar card copy. your account will be verified in few hours.
Congratulations! you have successfully created and verified your account. Now you are good to buy or sell Ethereum on Ethx.
How to buy Ethereum on Ethx?
To buy Ethereum, you need to first deposit money into Ethx. To add money, Click on deposit under India Rupee Balance tab
You can choose the mode of payment according to your convenience.
Now you will see the INR balance in your in you Ethx account. To buy Ethereum instantly click on "Buy Now" option.
You need to check the Eth price shown and fill in ETH you want to buy. Remember that you need to buy atleast 0.25 Eth. You must have an equivalent amount of INR in your Ethx INR wallet.
Example Buy Case: In this case, current buying price is 33981 INR and commission is o.25% of trade value. So you need 33981*0.25 = 8495.25 + (0.25% of 8495.25 = 21.24) = 8516.5 INR to buy 0.25 ETH on Ethx.
How to sell Ethereum on Ethx?
Selling Ethereum on Ethx is very easy and instant. Click on "Sell Now" option.
You need to check the ETH sell price shown and fill in ETH you want to sell. Remember that you have to sell a minimum of 0.25 ETH at a time.
Example Sell Case: In this case, current selling price is 33087 INR and the commission is 0.25% of trade value. So you will get 33087*0.25 = 8271.75 - (0.25% of 8271.75 = 20.68) = 8250.57 INR after selling 0.25 ETH on Ethx.
How to Withdraw money to your Bank account?
By clicking withdraw from the tab Indian Rupee on the left side of the page, you can withdraw funds very easily. It will show INR balance in the first row. In the second row, you have to fill in the amount you want to withdraw. Remember that the minimum withdrawal amount is 500 INR. So fill in the amount more than 500 INR and click submit. The amount will reflect in your registered bank account.
This will hardly take a few minutes to hours.
Ethx Pros and Cons
Currently, they manually send ETH to the destination address, which is why it takes some extra time, which I feel is a something that they really need to improve. While having a discussion with the CEO of Ethx, he has assured that they are rolling updates and people will be able to send funds automatically.
Their UI is simply awesome. The site is designed in such a way that anyone can buy and sell Ethereum in India very easily without much difficulty. Also, I have found their price very reasonable (sometimes cheaper than other exchanges).
My view on Ethx.in
I personally like Ethx, and I feel Ethx.in is a trusted website for buying Ethereum in India. Their simple UI and competitive price is what sets them apart from their competitors.
Bonus on using Ethx - As soon as you sign up, you get 200 INR worth Ether for free. Apart from this, you also get another 500 when you make your first 1 Ethereum purchase. So with Ethx, you can easily get 700 INR worth Ether for free.