Cofinex P2P platform is highly regarded as the best platform to buy Ethereum in India. You can buy Ethereum in India using the Cofinex P2P platform via multiple payment methods like UPI payments, IMPS, NEFT, and Bank Wire transfer. Cofinex P2P platform offers the best Ethereum market rates in India with which are accurate and from highly trustable merchants.
Steps to buy Ethereum in India
- Simply go to the Cofinex P2P marketplace or else, simply click on this link
- Select ETHEREUM(ETH) from the coin’s list and choose the Buying offer according to your preference.
- Enter the INR amount you want to use to buy Ethereum and select the mode of payment (Either UPI or Bank Transfer)
- Execute the INR payment to the merchant and enter the RRN number to confirm your payment.
- Wait for the confirmation from the seller to confirm your payment. Once confirmed, Ethereum will be released into your Cofinex wallet.
Payment Method to buy Ethereum using UPI (Phonepe, GPay & Paytm)
UPI is considered to be one of the fastest and most accessible payment options in India. UPI (Unified Payment Interface) is fast, free, and secure. UPI mode of payment is mostly accessible by all the digital wallets in India like Google Pay, PhonePe, and Paytm.
Read More about how to buy cryptocurrencies using UPI
Payment Method to buy Ethereum using Bank Transfer (NEFT, IMPS & RTGS)
India has been witnessing a huge surge in online banking transfers. The most prominent bank transfer methods used by Indians are NEFT, RTGS, and IMPS. In terms of transaction speed, IMPS and RTGS are instant while NEFT payments are settled in batches and take a bit of time. However, that being said, different banks have a different set of rules for the above-mentioned payment methods.
Read More about how to buy cryptocurrencies using bank transfer
FAQs to buy Ethereum in India (QnA)
What is the fee to buy Ethereum in India?
Cofinex P2P platform charges absolutely ZERO percent fees to buy Ethereum in India. However, there are many crypto exchanges in India that charge around 0.2 to 0.4% trading fees to buy or sell Ethereum in India
What is the minimum amount to buy Ethereum in India?
At the Cofinex P2P platform, you can buy Ethereum for even as low as ₹500, provided it falls within the merchant’s sell limit range. Cofinex P2P platform lists only KYC verified merchants and hence, they are highly trustworthy.
How safe it is to buy Ethereum on Cofinex?
Cofinex P2P platform works on the escrow system which makes it highly safe to buy Ethereum in India. In the Cofinex P2P escrow system, the seller’s crypto asset gets locked and is only released when both the buyer and seller confirm the INR payment. If any discrepancy is found, an Cofinex Customer Support representative immediately intervenes and solves the issue.
Is it legal to buy Ethereum in India?
Buying Ethereum in India is alegal (alegal=no regulation at the moment). Hence, it is okay to buy Ethereum in India. However, Ethereum is not a legal tender in India which means it cannot be used as a mode of payment. However, from an investment perspective, one can buy, sell and hold Ethereum as long as he wants (as dated 3 March 2021)
