Most beginners who want to invest in cryptocurrencies want to start small. But, there are not many exchanges that allow you to invest in ETH with a small amount, usually not less than $100 (~INR 7000). Shiftal is one of the few exchanges where you can buy ETH for a very low starting price. So, if you are looking to try out crypto trading before you go all in, here’s how you can buy ETH for INR 100 or more from Shiftal.
But before we discuss the process to buy ETH on Shiftal for Rs. 100 or more, it would be wise to know in brief about the Shiftal exchange.
What is Shiftal?
Shiftal is a peer-to-peer crypto exchange platform or a trading platform that lets you buy, sell and trade cryptocurrencies directly with other users in a P2P manner. Basically, the platform lets you find, connect and trade directly with other users on Shiftal. For the security of trades and users, Shiftal uses the escrow service. Let’s find out how the process to buy ETH on Shiftal works.
Buy ETH starting with just INR 100
Step 1: Register on the Shiftal website
Before you can buy ETH on Shiftal, you need to create an account and own a wallet on the Shiftal website. Go to shiftal.com and Sign up to register if you haven’t already.
After you have registered, make sure to verify your email id by using the mail sent to you. Once you click the verification link, only then you’ll be able to log in to your Shiftal wallet and start trading. If you face any issues during registration or log-in, get in touch with our team on Telegram for help.
Step 2: Login and set your preferences
After successful sign-up and email verification, you can now log in to your Shiftal account dashboard. If you have forgotten your password, just click the ‘Forgot Password’ option to get a password reset link on your registered email id.
After logging-in to the website, you’ll be redirected to your Shiftal account dashboard, where you can set your location and payment preference.
Step 3: KYC verification
According to the government rules, it is a must for the trading platforms to verify the KYC of all their users. Shiftal has a very simple and quick KYC process. We have partnered with YOTI for fast and automated KYC verification of all new sign-ups. It is an automated process and takes only a few minutes.
Step 4: Buy ETH
There are two ways to buy ETH on Shiftal. First, you can choose from the available offers and buy directly from an interested seller. Second, you can create your own custom ETH offer with your preferred payment option.
1.Buy through an existing ETH trade: Based on your location and preferred payment option, the platform will show you available ETH ads. You can choose any ad that fits your budget. Click the buy button to start a trade. Read the terms of the trade and confirm to notify the seller. After the seller accepts your trade request, you can pay directly to the seller in their bank account or via any other method.
The Shiftal Escrow will manually confirm the receipt of payment to the seller. After that, it will release the ETH coins, which will be credited into your Shiftal wallet. You can maintain your coins in the highly secure Shiftal wallet or transfer them to any other wallet of your choice.
2.Post a new ETH ‘buy’ trade: If you fail to find the right ETH offer, you can post a new ad detailing your requirements, price, payment option, etc. using the ‘Post Trade’ option. Once the advertisement is approved, it will be live on the Shiftal trading platform. A user who is interested in your offer will click on your ad to sell ETH to you.
Remember that there is a fee of 1% per successful transaction for every new trade that is posted by a user on Shiftal.
After you have purchased ETH on Shiftal, you can check your ETH balance by visiting your Shiftal account dashboard. Here, you can also see your unique ETH wallet address, which can be used to send/receive ETH to/from other platforms.
Get in touch with the shiftal.com team on our Telegram community group if you need assistance, guidance or help! Stay updated about the latest crypto developments by following us on Facebook, Instagram, Twitter, and LinkedIn.
Source Link: https://medium.com/