Buy Ethereum in India

Ethereum (ETH) is a cryptocurrency and a blockchain platform with smart contract functionality. It's basically a decentralized platform for developers to build apps on top of and it was invented by Vitalik Buterin in 2013. Just like Bitcoin, Ethereum is a distributed public blockchain network. Although there are some significant technical differences between the two, the most important distinction to note is that Bitcoin and Ethereum differ substantially in purpose and capability. Bitcoin offers one particular application of blockchain technology, a peer to peer electronic cash system that enables online Bitcoin payments. While the bitcoin blockchain is used to track ownership of digital currency (bitcoins), the Ethereum blockchain focuses on running the programming code of any decentralized application.

Ethereum also has a unique aim as compared to Bitcoin and similar cryptocurrencies. While Bitcoin, which was created by the enigmatic developer named Satoshi Nakamoto, as a resourceful alternative to fiat, centralized, and regulated currency issued by the government, Ethereum intends to be a platform that facilitates the development of trustworthy programs, contracts, and applications while utilizing a currency of its own in order to conduct business within the platform. Although Ethereum can also be considered as a digital currency, its primary motive is to facilitate and monetize the operations within its platform rather than establishing itself as an alternative currency. Even though Ethereum shouldn’t be considered as a competition to Bitcoin and similar cryptocurrencies, its popularity among the investors soon pushed Ehtereum right behind Bitcoin in terms of market cap and is competing against all cryptocurrencies as of now. Even though Ethereum might rank second on the cryptocurrency rankings, the Ethereum market cap of $25,483,988,714 USD is much less than that of the Bitcoin market cap of $168,259,882,356 USD but is still way more than the Dash market cap of $650,015,908 USD and Golem market cap of $49,535,134 USD.

You can start investing in ether with a small amount of Rs 100 on BuyUcoin.

Ethereum mining, similar to Bitcoin mining, is a process that involves intricate computational problems that are provided by the Ethereum algorithm for the computer to solve. Successful mining results in the production of Ether, which acts like a currency that can be traded, exchanged, or utilize on the Ethereum platform in order to monetize and create an incentive for developers to create reliable applications. Ethereum mining also helps in creating a secure network by creating, verifying, publishing, and propagating blocks in the blockchain. However, just like Bitcoin, there exists a cap on the production of Ether. According to a 2014 presale, it was decided that no more than 18 million Ether would be produced every year, which is almost 25 percent of the first issue, in order to reduce and tackle the effects of inflation on the cryptocurrency. Ethereum mining is comparatively more efficient than most of its counterparts as it produces around one block every 12 seconds, which is very fast compared to Bitcoin, Dash, or Golem mining which takes up to several minutes in order to produce a single block.

You can easily buy ethereum in india using buyucoin platform at lowest possible transaction fee. At the time of writing the value of 1 Ether to INR is at 209,186.54 INR. BuyUcoin offers best prices to buy ethereum in india.

To get free ethereum in india, one should have to just signup with buyucoin platform and complete the KYC verification, by which you will get 100 rupees worth of ethereum and bitcoin absouletely free.