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

Source

https://gadgets.ndtv.com/internet/features/bitcoin-alternatives-how-to-buy-ethereum-litecoin-monero-and-other-cryptocurrencies-1783902

 Bitcoin’s rising value has grabbed all the attention, but it’s not the only cryptocurrency out there. Bitcoin Cash, Dogecoin, Ethereum, Litecoin, and Monero are just some of the other cryptocurrencies  out there. If you wish to buy any of these in India, you might not find  it very easy to do so directly. A quick search only revealed rather  less-known and suspicious looking sites selling Ethereum in India —  something you want to avoid in general. 

 However, there’s one reliable way of buying Ethereum or any other  cryptocurrency in India, which essentially involves buying Bitcoin and  then converting it to the cryptocurrency of your choice. For this, first  you need to buy Bitcoin in India and then convert it. We used this method to buy Litecoin in India, but it will work for practically all other cryptocurrencies. 

  

1. First you need a wallet for the cryptocurrency of your choice. You can visit the official website for Ethereum or Litecoin or others to find a download link.
2. Once  you’ve downloaded this wallet on your PC or phone, you need to set it  up. This involves setting up two passcodes, one of which is a series of  up to 24 words. Copy the receive address for your cryptocurrency.
3. Next, you need to head to a cryptocurrency converter such as ShapeShift.
4. Select  Bitcoin as the input currency, and the output currency is obviously the  one you want. In our case, the output currency was Litecoin.
5. The address you copied in step 3 above needs to be pasted into the Deposit Address field on ShapeShift.
6. You  can copy the receive address from your Bitcoin wallet and paste it into  the Bitcoin refund address field in ShapeShift. In case the transaction  fails, the money will get refunded to your Bitcoin wallet quickly.
7. Now check I agree to terms, click Start transaction.
8. ShapeShift  will now give you a new deposit address. Copy this and go back to your  Bitcoin wallet. Now send the Bitcoin amount to this address.
9. Switch  back to ShapeShift and wait. Once the Bitcoin is received by  ShapeShift, it will quickly convert it to the cryptocurrency of your  choice.

 Note that ShapeShift also has mobile apps, and while the process  remains the same, the steps differ slightly if you want to use those to  convert cryptocurrencies there. It’s also important to note that  ShapeShift charges around 0.5 percent for conversion, and sending Bitcoins to ShapeShift also has a miner fee  associated with it, which is something you have to pay for every  Bitcoin transaction. That said, this remains the easiest way to buy  Ethereum or Litecoin in India.