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How to buy, sell and trade Ethereum Classic (ETC)

A simple guide to buying, selling and trading Ethereum Classic in India.

The cryptocurrency used in the Ethereum Classic blockchain has the ticker symbol ETC. ETC originated from Ether (ETH) and is an open-source computing platform derived from the original Ethereum code. Like ETH, ETC can be used to pay users of decentralised apps (DApps) and smart contracts.

In what follows, we’ll walk you through the basics of buying ETC. Read on to find out where to buy ETC in India, how it works and key things to consider before you purchase it.

Disclaimer: This information should not be interpreted as an endorsement of cryptocurrency or any specific provider, service or offering. It is not a recommendation to trade.

Where to buy ETC in India

You can buy ETC on several exchanges with fiat currencies or with cryptocurrencies. Some of the exchanges that offer the option to buy ETC tokens are listed below.

Name Product Deposit methods Fiat Currencies Supported Cryptocurrencies
Credit card
Debit card
PayPal
Wire transfer
Local Online Banking
EUR, GBP, NZD, USD, AUD, CAD, HKD, SGD, CHF, NOK, ZAR, JPY, SEK, CNH, TRY, RUB, HUF, MXN, PLN
BTC, ETH, BCH, XRP, DASH, LTC, ETC, ADA, MIOTA, XLM, EOS, NEO, TRX, ZEC, BNB, XTZ
Disclaimer: Highly volatile investment product. Your capital is at risk. 75% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

Copy the trades of leading cryptocurrency investors on this unique social investment platform.
Cryptocurrency
-
BTC, XRP, USDT, ETH, NEB, XVG, TRX, NEBL, ETH, NEO, FUN, ETC, BCC, POE, DASH, ELF, & 80+ more
Trade an extensive range of reputable coins on this world-renowned exchange, popular for its high liquidity and multi-language support.

US residents: US-based users have been restricted from Binance since June 2019.
UK residents: In addition to normal crypto trading services, Binance offers margin lending. As this is a regulated activity which they are not authorised to offer in the UK, we advise you not to use this service. If you're interested in margin trading, see authorised providers.
Electronic Funds Transfer
Bank transfer (SEPA)
Wire transfer
USD, EUR, GBP, JPY, CAD
BTC, ETH, XRP, BCH, EOS, LTC, ADA, XLM, DASH, XMR & 15+ more
Buy, sell and trade a range of digital currencies on this high-liquidity exchange – suitable for beginners right through to advanced traders.

UK residents: In addition to normal crypto trading, Kraken offers margin lending. As this is a regulated activity which they are not authorised to offer in the UK, we advise you not to use this service. If you're interested in margin trading, see authorised providers.
Cryptocurrency
Wire transfer
USD, EUR, GBP, JPY
BTC, BCH, BTG, IQ, TRX, GNT, AVT, DASH, DATA, EDO, EOS & 140+ more
Cryptocurrencies are a highly volatile investment product. Your capital is at risk.
Spot trade all of the major cryptos on this full-featured exchange and margin trading platform.
Cryptocurrency
-
BTC, ETH, XRP, BCH, EOS, XVG, LTC, ADA, MIOTA, TRX, NEO, DASH, XMR, XEM, VET, ETC, ICX, QTUM, OMG, & 70+ more
Buy and trade 100+ cryptocurrencies on this global cryptocurrency exchange.
Cash
Credit card
Debit card
Bank transfer (SEPA)
USD, EUR
BTC, ETH, ETC, BCH, LTC, ADA, QTUM, XRP
Buy coins like Bitcoin, Ethereum, Ripple, Litecoin and Bitcoin Cash with credit card.
Credit card
Cryptocurrency
USD
BTC, BCH, MIOTA, XVG, NEO, ADA, XRP, TRX, ONT, ZIL, GAS, LTC, ZRX, QTUM, ETH, ETC, VET, ICX & 300+ more
CoinSwitch allows you to compare and convert over 250 cryptocurrencies across all exchanges.
Credit card
Debit card
USD, EUR
BTC, BCH, ETH, XMR, ZEC, DASH, XRP, ETC, LTC, DOGE, XLM,1ST, ADX, AMP, ANT, BAT, & 75+ more
Access competitive crypto-to-crypto exchange rates for more than 35 cryptocurrencies on this global exchange.
Bithumb Cryptocurrency Exchange
Cryptocurrency
Wire transfer
KRW
BTC, ETH, XRP, BCH, LTC, EOS, BSV, XLM, TRX, XMR & 90+ more
A global platform where users can make KRW and cryptocurrency deposits to purchase up to 15 popular cryptocurrencies.
Bittrex Digital Currency Exchange
Cryptocurrency
Wire transfer
USD
BTC, ETH, BOXX, XVG, SC, XRP, DOGE, STRAT, XMR, ADA, OMG, ETC, BCC, XLM, DGB, UKG, & 128+ more
Buy from one of the largest cryptocurrency exchanges with a selection of over 190+ cryptocurrencies and 3 USD pairings.
AdvCash
Cryptocurrency
Payeer
Perfect Money
USD, RUB
BTC, BTG, DASH, ETH, LTC, DOGE, WAVES, LSK, BCC, TRX & 365+ more
Pay in USD, RUB or trade crypto to crypto at this Russian-based cryptocurrency exchange with hundreds of coins listed.
Cryptocurrency
-
BTC, BCH, XMR, DAG, ETH, XRP, EOS, LTC, ADA, TRX, NEO, ONT, STEEM, BTM, BCD, ZINC, VET, OLT, USDT, BSV, & 134+ more
Browse a variety of coin offerings in one of the largest multi-cryptocurrency exchanges and pay in cryptocurrency.
Livecoin Cryptocurrency Exchange
Cryptocurrency
Payeer
Perfect Money
Qiwi
USD, EUR, RUB
BTC, BCH, ETH, LSK, LTC, XMR, XEM, DASH, BCC, CLOAK & 410+ more
Trade at an exchange that has an extensive offering over 160 coins and numerous fiat and altcoin currency pairs.
Cryptonit Cryptocurrency Exchange
Advance Cash
Wire transfer
EUR, USD
BTC, ETH, ETC, ZEC
Cryptonit is a secure platform for trading fiat currency for bitcoin, Litecoin, Peercoin and other cryptocurrencies which can be delivered to your digital wallet of choice.
ShapeShift Cryptocurrency Exchange
Cryptocurrency
-
BTC, BCH, BTG, ETH, ETC, FUN, 1ST, ANT, BAT, BNT, BLK, CVC, CLAM, DASH, DCR, DGB, DNT, GAME & 29+ more
Quickly swap between more than 40 cryptocurrency assets or use your credit card to instantly buy bitcoin.
OKEx Cryptocurrency Exchange
Bank transfer
Cryptocurrency
WeChat
USD, CNY
BTC, ETH, LTC, EOS, TRX, ETC, BCH, TRUE, XRP, ABT & 130+ more
Listing over 100 cryptocurrencies, OKEx offers its users a variety of payment methods and coins to choose from.
Exmo Cryptocurrency Exchange
Credit card
Cryptocurrency
Debit card
Payeer
Perfect Money
Bank transfer (SEPA)
Wire transfer
USD, EUR, RUB, PLN, UAH
BTC, BCH, ETH, ETC, XRP, KICK, DASH, WAVES, ZEC, XMR, LTC, DOGE, USDT, ADA, INK
A UK-based cryptocurrency platform that provides buyers with a wide variety of payment options.
Cryptocurrency
EUR, GBP
BIX, ETH, BTM, BTC, LBA, FSN, HPB, BOT, BTO, SXUT & 15+ more
Trade crypto to crypto with a choice of over 60 currencies on this global exchange based in China.
Gate.io Cryptocurrency Exchange
Cryptocurrency
-
BCH, EOS, TRX, ONT, ETH, BTC, BTM, AE, OCN, ADA, IHT, XRP, ETC, NAS, LTC, & over 117+ more

Compare up to 4 providers

A step-by-step guide to buying ETC

If you want to buy ETC, here’s an example of what you would do.

Step 1. Create an account at an exchange listing ETC

One such exchange is EXMO, an exchange which serves users across 200 countries. Sign up at the EXMO website and follow the instructions you receive to your email. Once you’ve logged in, you can choose to verify your identity depending on whether you want access to a broader choice of payment options.

On EXMO, cryptocurrency deposits and certain fiat payment options do not require verification, including Perfect Money, Payeer and Money Polo. However several widely used fiat payment options on EXMO require verification, including Neteller, wire transfer and credit card payments.

Step 2. Deposit funds into your account

Some crypto exchanges, allow for fiat currency deposits but many exchanges only accept cryptocurrencies. In this case, you will need to buy a cryptocurrency such as bitcoin (BTC) first. If you don’t have any BTC, read our guide on how to purchase it.

To deposit funds to your account, log in to the exchange where you want to buy ETC and search for your preferred deposit method.

Step 3. Buying ETC

After funds have been deposited in your account, you’re ready to buy ETC. Navigate to the exchange or markets section and search for the pair you want to trade, for example, ETC/BTC or ETC/USD.

You can then enter the number of ETC tokens you want to buy. After you have determined this, you can hit the buy button to purchase ETC.

Once you have purchased ETC, you can withdraw your tokens to your wallet. Note that as online wallets on exchanges can be more susceptible to hacks and viruses, it is advisable that you store the funds you don’t plan on trading in a hardware wallet.

How to sell ETC

You can sell ETC in much the same way as you bought it, except you’ll need to enter the number of ETC tokens in the “Sell ETC” tab.


Which wallets can I use to hold ETC?

To store your ETC, you could use the following wallets:

  • Hardware wallets
  • Desktop wallets
      • Jaxx (Windows, Linux and Mac OS X)
      • Etherwall (Windows, Linux and Mac OS X)
  • Web-based wallets
  • Mobile wallets
    • Jaxx (Android and iOS)
    • Coinomi (Android only)
    • Freewallet (Android and iOS)

Although wallets are designed to safely store your tokens as long as you keep your private key safe, hardware wallets are widely considered to be the safest.
Find out more about wallets in our comprehensive guide.


What is the Ethereum network?

Ethereum is an open-source, decentralised platform that is designed to build and run highly complex smart contracts. Smart contracts are decentralised applications (dApps) that are made to run exactly as programmed without downtime or third-party interference. That is why the platform is best suited for peer-to-peer interaction or complex financial contracts.

ETC was born out of disputes in the Ethereum community, where core values of Ethereum and cryptocurrency were placed under scrutiny in the face of a security breach now known as the DAO attack. According to its founding team, the values behind Ethereum Classic are:

  • Transaction finality. The team behind ETC believe in the blockchain’s immutability, stating that transactions are final and applications are unstoppable. They claim that “Code is Law”.
  • Decentralised governance. According to the founders of ETC, decentralisation counters problems such as corruption, nepotism, unaccountability and stagnation. Renouncing an institutionalised centre of control, ETC’s team also states that the hierarchy guiding Ethereum Classic prizes transparent meritocracy and mutual reputation.

What is the difference between Ethereum and Ethereum Classic?

Ethereum originated from Ethereum Classic. Its beginnings can be linked to the creation of a DAO (Decentralised Autonomous Organisation) in 2016, which was supposed to act as a venture capitalist fund within the Ethereum platform to finance the development of dApps. You had to buy DAO tokens with Ethereum to be able to vote on which dApps would get funded. The DAO managed to acquire more than US $150 million in a crowdsale.

However, due to a loophole within the code, someone managed to steal US $50 million from the DAO in June 2016. This became known as the DAO attack. To respond to the attack, the Ethereum community had two options:

  • Do nothing. A small group within the community claimed that Code is Law and that transactions are final. If Ethereum made changes to the code it would go against its core values.
  • Hard fork. A hard fork separates the blockchain from a particular point in time (in this case, before the attack) and lacks backward compatibility. This creates two chains that are completely different.

The majority of the Ethereum community saw the hard fork as the only solution to restoring the stolen DAO tokens to their owners and this became the final decision.

As a result, it created a new chain called Ethereum with the token ETH. The people who decided against the hard fork, remained on the original blockchain, now called Ethereum Classic with the token ETC.

For more on Ethereum Classic, read our complete beginner’s guide.


What to consider if buying ETC

If you are considering buying ETC or any other cryptocurrency, make sure you understand the risks involved. If you want to buy ETC, keep in mind the following facts:

  • Supply. According to CoinMarketCap, the circulating supply of ETC in March 2018 was 100,200,508 tokens. ETC developers have agreed that the maximum supply of ETC tokens should not exceed 230 million tokens.
  • ETC use. ETC is the primary token of the Ethereum Classic platform and its use is to pay for the computation on the network.
  • Availability. ETC is widely available on several cryptocurrency exchanges. You can buy it with cryptocurrencies or with fiat currencies.
  • Plans for further development. The developers of Ethereum Classic platform plan to release a Software Development Kit (SDK) for Ethereum Classic dApps. This will increase the platform’s usability. The team also plans to switch from proof-of-work to a proof-of-stake algorithm in the future.
  • Market competition. Similar companies to Ethereum Classic platform are: Lisk, Stratis, EOS, NEO and Waves.

Frequently asked questions



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