Ethereum
How to Buy Ethereum Classic (ETC) in 2024? – Forbes Advisor INDIA
Blockchain is an essential technology for reliable and clear business operations. Ethereum Classic comes into the picture to further improve its functioning by automating the entire process. In simple terms, it is a blockchain platform that facilitates smart contracts for its users. These smart contracts automate actions through blockchain.
So, after analyzing the working and features of Ethereum Classic, Forbes Advisor India has come up with a guide on how to buy Ethereum Classic (ETC), what it is, whether it is worth it and much more.
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What is Ethereum Classic?
Ethereum Classic (ETC) is an open-source, decentralized, blockchain-based distributed cryptocurrency platform. It was created in 2016 after the Decentralized Autonomous Organization (DAO) hack. This platform facilitates smart contracts through automated actions.
For example, suppose if a business wants to sell an item at a specific price to another business, the smart contract will automate the payment and transfer of ownership without needing to trust either business to fulfill its obligations.
Where to buy Ethereum Classic (ETC)?
You can buy Ethereum Classic (ETC) through any cryptocurrency exchange available worldwide. However, we advise you to take note of the history and current exchange rate before purchasing it. This will give you more clarity regarding the purchasing decision.
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Over 1 Million Investors Trust Mudrex for Their Cryptocurrency Investments
Security
Mudrex is a Government of India approved platform with 100% insured deposits stored in crypto wallets
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Enjoy zero cryptocurrency deposit fees and the best fee rates in the industry.
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Listed in Deloitte Fast 50 Index, Best Global FX Broker 2022 – ForexExpo Dubai October 2022 and more
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Invest carefully, your capital is at risk
How to buy Ethereum Classic?
Note: In this guide, we use BuyUcoin, a crypto wallet and exchange from India, as an example to extrapolate the process of buying Ethereum Classic.
Step 1: Open the web browser on your laptop or PC and search on Google for “Buy Ucoin.”
2nd step: In the upper right corner of your screen, click on “Sign up” and enter your email or password, or you can easily use “Sign up with Google”.
Step 3: Once the registration is complete, you will need to go to your profile section and verify your email with a One-Time Password (OTP) or email verification link that was sent to your email.
Step 4: Once your email verification is complete, you need to verify your identity through the KYC (Know Your Customer) feature. Click KYC > Get Started from your dashboard, read the document requirements, and click Continue.
Step 5: After clicking on ‘Continue’, upload the required documents like your PAN and Aadhar cards and fill in the required details. Finally, click on Submit and you will have completed your KYC.
Step 6: Use manual deposits to add your primary bank and UPI to your BuyUcoin wallet. To do this, click on the wallet and add the amount and valid UPI.
Step 7: Finally, there are two main ways to buy Ethereum Classic: Spot market and EZ/OTC. EZ/OTC makes it easy to buy ETC. So, go for it.
Is Ethereum Classic (VET) worth it?
The value of Ethereum Classic depends entirely on the buyer’s outlook, preferences, and risk-taking capabilities. It also depends on the market performance. So, if you are planning to invest for the long term, we advise you to follow the market developments for a considerable period before making this decision. Its future is bright only if investors, traders, and users trust it and it maintains its position.
Frequently Asked Questions (FAQ)
Will Ethereum Classic Rise in 2024?
After analyzing the past performance of Ethereum Classic, it can be deduced that it is expected to rise in 2024 or at least remain in a similar position for a long period of time. However, it is impossible and unwise to make an accurate prediction about the future of a cryptocurrency-based asset. If you are looking to invest, thorough research and understanding the risks involved should be your top priority before investing your funds.
Can I buy ETC via P2P trading?
Yes, you can buy ETC through P2P trading. To do this, you first need to select your preferred advertiser with your ideal USDT price listed on the Bybit P2P platform. Later, you can proceed to the payment process.
Can I buy ETC with a debit or credit card?
Yes, you can easily buy ETC with your debit or credit card. To do this, you first need to create a Bybit account or log in if you already have one. Then, you can easily buy stablecoins or BTC directly.
What is the best crypto exchange to buy Ethereum Classic?
This is a subjective choice because there are many cryptocurrency exchange platforms, such as Binance, Coinbase Exchange, Bybit, and OKX. You can choose one based on your preferences.