How to Buy Ethereum Classic (ETC) in 2024? – Forbes Advisor INDIA
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 play to further improve its functioning by automating the entire process. Simply put, it is a blockchain platform that enables smart contracts to its users. These smart contracts automate the actions via blockchain.

After analyzing how Ethereum Classic works and features, Forbes Advisor India has put together a guide that explains how to buy Ethereum Classic (ETC), what it is, whether it is worth it, and more.

What is Ethereum Classic?

Ethereum Classic (ETC) is a popular, decentralized, open-source, blockchain-based, distributed cryptocurrency platform. It was founded in 2016 after the Decentralized Autonomous Organization (DAO) was hacked. This platform enables smart contracts through automated actions.

For example, suppose that if a company wants to sell an item to another company at a certain price, the smart contract would automate the payment and transfer of ownership without having to trust that either company will fulfill its obligation.

Where can you buy Ethereum Classic (ETC)?

You can buy Ethereum Classic (ETC) through any cryptocurrency exchange available worldwide. However, we recommend that you check the history and current exchange rate before purchasing. This will give you more clarity in your purchase decision.

How do I buy Ethereum Classic?

Note: In this guide, we will use BuyUcoin, a crypto wallet and exchange platform 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 google “BuyUcoin.

Step 2: Click “Sign in” in the top right of your screen and enter your email address or password. Alternatively, you can simply use “Sign in with Google.”

Step 3: After completing the registration, you need to go to your profile section and verify your email using a one-time password (OTP) or email verification link sent to your email.

Step 4: Once your email verification is complete, you will need to verify your identity through Know Your Customer (KYC). From your dashboard, click KYC > Start, read the document requirements and click Next.

Step 5: After clicking on ‘Next’, upload the required documents like your PAN and Aadhar cards and fill in the required details. Finally, click on ‘Submit’ and your KYC will be completed.

Step 6: Use manual deposits to add your main bank and UPI to your BuyUcoin wallet by clicking on the wallet and adding the amount and valid UPI.

Step 7: Finally, there are two main ways to buy Ethereum Classic: the spot market and EZ/OTC. EZ/OTC makes buying ETC easy. So here we go.

Is Ethereum Classic (VET) worth it?

The value of Ethereum Classic depends entirely on the buyer’s prospects, preferences and risk appetite. It also depends on the development of the market. So, if you are looking to invest for the long term, we advise you to observe the market for quite a while before making this decision. The future of Ethereum Classic is bright only if the investors, traders and users trust it and it maintains its position.

Frequently Asked Questions (FAQs)

Will Ethereum Classic rise in 2024?

After analyzing Ethereum Classic’s performance so far, it is safe to assume that it is likely to rise in 2024 or at least maintain a similar position for a long time.

However, it is impossible and unwise to make accurate predictions about the future of any crypto-based asset. If you are looking to invest, thorough research and understanding the risks involved should be your top priority before parking your funds.

Can I buy ETC via P2P trading?

Yes, you can buy ETC via 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 with the payment process.

Can I buy ETC with a debit or credit card?

Yes, you can easily buy ETC using your debit or credit card. To do this, you will first need to open 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 decision as there are many crypto exchange platforms such as Binance, Coinbase Exchange, Bybit and OKX. You can choose one according to your preferences.