How to buy cryptocurrencies not available in India with ether easily — Step by Step Guide
Step by Step tutorial on how you may invest in any cryptocurrency: -
Many of these answers are great. But they have one problem, that many of these sites are not trusted and are untested. These are startups which may fail and you may lose lot of money. Plus they may not have nough liquidity.Let me help you with the most trusted method.
For this tutorial I will guide you on how to buy maximum amount of IOTA coins with 1000 INR.
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P.S. This is just a guide for education purposes. Proceed at your own risk. I won’t be responsible for your loss due to your mistake or the errors due to websites or blockchain. Try small amounts first before proceeding with large transaction to learn the ropes.
If you already know how to buy ether then skip to 4.
- First register on Koinex and buy ethereum. I prefer ether because it’s relatively cheaper than bitcoin and easy to transfer. Bitcoin has very high withdrawal fees and hence it is impractical to buy BTC for small transaction. You will lose large part of your investment. Register here first and complete your KYC. https://koinex.in/?ref=1a2db1
- After KYC completion, log into your account and click on “BALANCES” in main menu. Scroll down to the bottom of page and make INR deposits in your account either with a payment gateway or bank deposit. I will deposit my Rs 1000 from bank here.
3. Now, click on “ETHER” in the main menu. If you don’t find it click the coin you see and open drop down menu and find ether there. Click on a box titled trade.
To calculate the amount you can buy with your INR, take your INR amount divide by current price of ether. For example, here current price of ether is 39,399. So the amount of ether I can buy is 1000/39,399 = 0.025. On Price per ETH put lowest ask price. Confirm the trade, wait for trade to be executed and you will be notified when trade is successfully executed.
4. Register on Binance -> https://www.binance.com/?ref=11501212
After registration, click on “Funds” in navigation bar and then click with deposits withdrawal. Type ether in search bar and then click deposit. Copy the ETH Deposit Address. Copy whole of the address carefully.
5. Now go back to koinex and click on “BALANCES” again in main menu. In KOIN WALLETS area, click on withdraw which is same line as ether.
Enter the volume you want to transfer and the address you copied from Binance. The one in yellow box.
Confirm your transfer. Also check your email, you may confirmation mail also. Wait for ether to arrive in your Binance wallet. It may take some time. So please be patient. Go out for a walk.
P.S — If you are using wallet other than koinex, than transfer your ether to binance. See your wallet FAQ for help.
6. Once ether arrives in binance, check for your balance by going to funds -> Deposits Withdrawal and type ether in search. Now “Available Balance” will show you the amount of ether you have.
7. Now click on exchange on the left side of navigation menu and select Basic.
On the right side of the screen click on ETH. We are trying to buy IOTA coins so I typed IOTA and clicked on the search result I got. See the image below so you don’t get lost.
8. Now to invest in IOTA, in price box enter the last price. To check the latest price, scroll above and copy that price and paste in the box. Now in the amount box experiment with highest amount of iota you can buy with your ether and then click buy iota.
9. Now wait for 5–10 mins, your IOTA will arrive into your wallet. Check your wallet by going to Funds -> Deposit Withdrawal
That’s how you can buy any cryptocurrency not available in India with ether.
If you have any difficulties, you can message me any time :) All the best!
If you want to learn how to research and evaluate cryptocurrencies : — https://medium.com/@ajaybirbal94/explore-their-website-e0bd66ce628a
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