In previous article we studied what is bitcoin & we saw which are the top sites / android apps in India for buying bitcoins. Trading in BTC at this moment is not a bad choice if you are planning to invest for long term. But if you are seeking for huge profits in less time, then Altcoins are the way to go.
So what exactly are these altcoins? It’s simple… Any coin other than a Bitcoin is Altcoin. The word itself is made of 2 words “Alternate” + “coins” which clearly explain its meaning. You must have heard the names of Ethereum, Ripple, Litecoin etc. All these are altcoins and right now all these are valued below bitcoins. The advantage with most (not all!) altcoins is, they are available for cheap & you can buy thousands of such coins without burning a hole in your pocket.
While investing in any altcoin, make proper research first. Watch youtube videos, analyze the team behind that coin & also check people’s opinion on forums like Quora.
3 Steps to Buy Ethereum / Ripple or Any Altcoin in India
As of now, it is not possible to buy coins like Ripple or Ethereum directly in India. So, this is the procedure you need to follow to purchase Altcoins:
Firstly buy bitcoins > Transfer that coin in global wallets > In exchange of that BTC, buy Altcoin
Now we will look into each step in detail…
#1. Buy BTC from Popular Indian Websites
We recommend you to use ZebPay for purchasing bitcoins. It is necessary to use Netbanking to get coin since they have not added the credit/debit card option yet. Before signing up on Zebpay, do read this post as you can get cool signup bonus after using our referral code. Now purchase any amount of Bitcoin you want .
#2. Open an Account on Bittrex
Bittrex is one of the best global trading platforms from where one can easily buy almost any kind of altcoin. But the twist here is; you can not buy anything directly from this site. So what we are gonna do is, we are going to transfer our bitcoin that we bought in step 1 to bittrex wallet.
To do this, simply login to your zebpay account > send bitcoin > scan barcode > now open bittrex site on your desktop & click on receive bitcoin option > QR code will appear on your screen > scan it with zebpay app.
Now enter how much amount you want to transfer & click on send button. That’s it. Within 5-10 minutes, you will see the BTC in your bittrex wallet.
#3. Buying Altcoin
Now you have some amount in Bittrex wallet in terms of bitcoin. Click on the ‘wallet’ option and search for the coin that you want to buy. Further procedure is self explanatory. Just choose how many coins you want to buy & bittrex will show you its equivalent amount in BTC. After transaction, you will get the Ripple, ethereum or any altcoin within few minutes.
Hope you got the basic idea of trading BTC against popular coins like Ripple or Ethereum. If at any time you face difficulty, don’t forget to leave your doubts in comment section. We will get back to you as soon as possible.