Since its launch in 2015, Ethereum has become one of the most popular cryptocurrencies in the world. But is it legal in India?
The short answer is yes, Ethereum is legal in India. The Reserve Bank of India (RBI) has not issued any regulations or lAWS regarding cryptocurrencies, so Ethereum is currently legal to buy, sell, and trade in India.
However, this could change in the future. The RBI has been critical of cryptocurrencies in the past and has hinted that it may eventually regulate or ban them.
So if you’re thinking about investing in Ethereum, you should do so quickly before the legal status of cryptocurrencies in India changes.
Ethereum is a decentralized platform that runs smart contracts: applications that run exactly as programmed without any possibility of fraud or third party interference. These apps run on a custom built blockchain, an enormously powerful shared global infrastructure that can move value around and represent ownership of property.
This enables developers to create markets, store registries of debts or promises, move funds in accordance with instructions given long in the past (like a will or a futures contract) and many other things that have not been invented yet, all without a middleman or counterparty risk.
The Ethereum blockchain is fueled by ether, a cryptocurrency that can be traded for other cryptocurrencies or fiat currencies like US dollars. ether is also used to pay for transaction fees and computational services on the Ethereum network.
If you’re looking to invest in Ethereum, you can do so through a cryptocurrency exchange. Coinbase is one of the most popular exchanges for buying and selling Ethereum.