How to convert Ethereum to rupees

To convert Ethereum ETH to Indian Rupees INR, here are the detailed steps:

1. Choose a Reputable Cryptocurrency Exchange: Select an exchange that supports both Ethereum and INR, such as WazirX, CoinDCX, or Binance P2P. Look for platforms with strong security, good liquidity, and transparent fee structures.
2. Create and Verify Your Account: Sign up on your chosen exchange. This typically involves providing your email, setting a strong password, and completing Know Your Customer KYC verification. KYC usually requires uploading government-issued ID Aadhaar, PAN and sometimes a proof of address. This process is crucial for legal compliance and security.
3. Deposit Ethereum: Transfer your Ethereum from your personal wallet e.g., MetaMask, Trust Wallet to your exchange wallet address. Double-check the network ERC-20 for Ethereum to avoid loss of funds. Note that network fees gas fees will apply during this transfer.
4. Sell Your Ethereum:
   • Spot Trading: On the exchange, navigate to the “Trade” or “Spot” section. Find the ETH/INR trading pair. You can place a “Market Order” for an instant sale at the current market price or a “Limit Order” to sell at a specific price you set.
   • Peer-to-Peer P2P Trading: Some exchanges like Binance offer P2P. Here, you directly sell your ETH to another user who pays you in INR via bank transfer, UPI, or other local payment methods. This often has lower fees but requires more vigilance in verifying the buyer.
5. Withdraw Rupees to Your Bank Account: Once your ETH is sold and converted to INR in your exchange wallet, go to the “Withdraw” or “Wallet” section. Select INR, enter the amount you wish to withdraw, and provide your bank account details account number, IFSC code. The exchange will process the transfer, and the funds should reflect in your bank account within a few hours to a few business days, depending on the exchange and banking system.

Understanding the Landscape of Cryptocurrency Conversions in India

Navigating the world of cryptocurrency, especially converting digital assets like Ethereum into fiat currency such as Indian Rupees, requires a clear understanding of the involved processes, platforms, and regulatory environment.

While the allure of quick gains might attract many, a disciplined and informed approach is paramount, especially considering the volatility inherent in crypto markets and the specific financial guidelines in India.

It’s crucial to approach all financial activities, including cryptocurrency, with a mindset of ethical dealings and a focus on long-term stability rather than speculative interests that might resemble gambling.

True wealth is built on sound principles, honest effort, and responsible financial management, steering clear of excessive risk or activities that could be considered akin to interest-based transactions riba or pure speculation.

The Indian Regulatory Stance on Cryptocurrencies

India’s regulatory stance on cryptocurrencies has evolved significantly over the years, marked by periods of uncertainty and clarity.

Initially, there was a banking ban on crypto transactions, which was later lifted by the Supreme Court in March 2020. Currently, cryptocurrencies are not recognized as legal tender in India but are treated as assets for taxation purposes.

• Taxation: As of April 1, 2022, India imposes a 30% tax on income from the transfer of virtual digital assets VDAs, which includes cryptocurrencies. Additionally, a 1% Tax Deducted at Source TDS is applied on payments made for the transfer of VDAs above a certain threshold. This means that when you sell Ethereum for Rupees, 1% of the transaction value will be deducted at the source by the exchange. Losses from crypto trades cannot be offset against other income. For instance, if you sell ETH worth ₹100,000, ₹1,000 will be deducted as TDS.
• RBI’s View: The Reserve Bank of India RBI has consistently expressed concerns about the potential risks of cryptocurrencies, including their volatility, potential for money laundering, and impact on financial stability. While they have lifted the banking ban, their cautious stance remains, advocating for comprehensive regulation.
• Government Proposals: The Indian government has, at various times, considered legislation to regulate or even ban private cryptocurrencies, while exploring the possibility of launching a Central Bank Digital Currency CBDC. This ongoing discussion highlights the need for users to stay informed about potential policy changes. For example, reports in early 2023 indicated the government was still working on a final framework for crypto regulation, potentially drawing parallels with how other asset classes are treated.

Choosing the Right Cryptocurrency Exchange in India

Selecting a reliable and secure cryptocurrency exchange is the foundational step for converting Ethereum to Rupees.

An exchange acts as a marketplace where buyers and sellers transact.

It’s paramount to choose one that aligns with ethical financial practices and offers transparent services.

• Security Features: Prioritize exchanges with robust security measures. Look for features like Two-Factor Authentication 2FA, cold storage for a significant portion of user funds meaning funds are kept offline and away from potential hacks, encryption, and regular security audits. For instance, a reputable exchange might publish reports on their security protocols and insurance coverage.
• Supported Cryptocurrencies and Trading Pairs: Ensure the exchange supports Ethereum ETH and has an ETH/INR trading pair. While many exchanges list major cryptocurrencies, the availability of specific fiat pairs can vary.
• Fees and Charges: Understand the fee structure. This includes trading fees maker and taker fees, deposit fees, and withdrawal fees for both crypto and INR. Some exchanges might have a tiered fee structure based on trading volume. For example, some exchanges charge a flat 0.2% trading fee, while others might offer lower fees for high-volume traders, e.g., 0.1% for monthly volumes above ₹10 lakhs.
• Liquidity: High liquidity means there are many buyers and sellers, allowing for quick execution of trades at stable prices. Low liquidity can lead to significant price slippage, especially for large orders. You can often check an exchange’s 24-hour trading volume to gauge its liquidity. For example, WazirX typically boasts significant daily trading volumes in INR pairs, indicating good liquidity.
• User Interface and Experience: A user-friendly interface is crucial, especially for beginners. The platform should be intuitive for depositing, trading, and withdrawing funds.
• Customer Support: Responsive and helpful customer support is vital, especially when dealing with financial transactions. Look for exchanges with multiple support channels email, chat, phone and positive user reviews regarding their support.
• KYC Requirements: All legitimate exchanges operating in India will require KYC compliance. Ensure you are comfortable with their verification process and privacy policy. This is not just a regulatory hurdle but a measure to prevent illicit activities, which is in line with ethical financial conduct.

Some popular exchanges in India include: How to convert Ethereum to money on cash app

• WazirX: Known for its user-friendly interface, strong liquidity in INR pairs, and P2P options.
• CoinDCX: Offers a wide range of cryptocurrencies and a relatively simple interface for beginners.
• Binance P2P: While Binance is an international exchange, its Peer-to-Peer P2P platform is very popular in India for direct fiat conversions, often with zero trading fees on P2P transactions.

The Conversion Process: Step-by-Step Execution

Once you’ve chosen your exchange, the actual conversion process involves several distinct steps, each requiring careful attention to detail.

This process prioritizes secure and verified transactions, aligning with principles of transparent and honest financial dealings.

1. Account Creation and KYC Verification

This is the initial gateway to any regulated crypto exchange.

• Sign Up: Visit the exchange’s website or download their app. You’ll typically need to provide your email address and set a strong password.
• Email Verification: A confirmation link will be sent to your email. Click it to verify your address.
• Mobile Number Verification: You might also need to verify your mobile number via an OTP One-Time Password.
• KYC Know Your Customer: This is a mandatory step for Indian exchanges to comply with anti-money laundering AML regulations. You will typically need to provide:
  • PAN Card: For income tax purposes.
  • Aadhaar Card or Passport/Driving License: For identity verification.
  • Proof of Address: Utility bill or bank statement.
  • Selfie/Video Verification: Some exchanges might require a live selfie or a short video for liveness detection and to prevent identity fraud.
  • Bank Account Details: You’ll need to link your bank account for INR deposits and withdrawals. Ensure the bank account is in your name, matching your KYC documents.
• Processing Time: KYC verification can take anywhere from a few minutes to a few business days, depending on the exchange’s processing times and the clarity of your submitted documents. For instance, WazirX often completes KYC within hours for most users, while others might take 24-48 hours.

2. Depositing Ethereum ETH to the Exchange

Once your account is verified, you need to get your Ethereum onto the exchange.

• Navigate to Deposit: On the exchange dashboard, look for “Deposit” or “Wallet” section. Select “Ethereum” or “ETH.”
• Generate Deposit Address: The exchange will provide you with a unique Ethereum deposit address. This is a long string of alphanumeric characters e.g., 0xAbCdEf1234567890....
• Important: Network Selection: Always ensure you select the correct network. For Ethereum, this is almost always the ERC-20 network. Sending ETH from an ERC-20 wallet to an exchange’s deposit address on a different network e.g., Binance Smart Chain – BEP20 can result in irreversible loss of funds. This is a critical point that cannot be overstressed.
• Transfer from Your Wallet: Open your personal Ethereum wallet e.g., MetaMask, Trust Wallet, Ledger. Initiate a “Send” transaction. Paste the exchange’s ETH deposit address into the recipient field.
• Gas Fees: Be aware of Ethereum network transaction fees, also known as “gas fees.” These fees fluctuate based on network congestion. You’ll need sufficient ETH in your wallet to cover both the amount you want to send and the gas fee. You can check average gas prices on sites like Etherscan.io/gastracker. For example, a typical ETH transfer might cost anywhere from $5 to $50 or more in gas, depending on network demand.
• Confirm Transaction: Review all details carefully before confirming the transaction. Once sent, Ethereum transactions are irreversible.
• Confirmation Time: Ethereum transactions usually take a few minutes to confirm on the blockchain typically 12-30 network confirmations, after which the ETH will reflect in your exchange wallet.

3. Selling Ethereum for Indian Rupees INR

With your ETH deposited, you’re ready to sell it.

• Go to the Trading Interface: Navigate to the “Spot Trading” or “Exchange” section of the platform.
• Select Trading Pair: Find the ETH/INR trading pair.
• Order Types:
  • Market Order: This allows you to sell your ETH immediately at the best available current market price. It’s fast but you might not get the exact price displayed if the market moves quickly. This is often the simplest option for beginners.
  • Limit Order: This allows you to set a specific price at which you want to sell your ETH. If the market price reaches your set price, your order will be executed. This gives you more control but might take time if your desired price isn’t met quickly.
  • Stop-Limit Order: An advanced order type that combines a stop price and a limit price. When the stop price is reached, a limit order is placed. This is used for risk management to limit potential losses.
• Enter Amount: Specify the amount of ETH you want to sell. The system will usually show you the estimated INR you will receive.
• Review and Confirm: Double-check the order details amount, price, fees before confirming the sale. Once confirmed, your ETH will be sold, and the corresponding INR will be credited to your exchange’s INR wallet. For example, if ETH is trading at ₹200,000 and you sell 0.5 ETH, you would receive ₹100,000 minus fees and TDS.

4. Withdrawing Rupees to Your Bank Account

The final step is to get your INR from the exchange into your traditional bank account.

• Navigate to Withdrawal: Go to the “Wallet” or “Funds” section and select “Withdraw.” Choose “INR.”
• Select Bank Account: Select the bank account you linked during KYC. If you have multiple, ensure you pick the correct one.
• Enter Amount: Enter the amount of INR you wish to withdraw. Be mindful of minimum and maximum withdrawal limits set by the exchange.
• Review Fees: Check the withdrawal fees. Exchanges typically charge a flat fee for INR withdrawals e.g., ₹10-₹50 per transaction.
• Confirm Withdrawal: Confirm the withdrawal. You might need to enter an OTP sent to your registered mobile number or email, and potentially your 2FA code for security.
• Processing Time: INR withdrawals are usually processed via NEFT, RTGS, or IMPS. Processing times can vary:
  • IMPS: Instant, often within minutes available 24/7.
  • NEFT/RTGS: Within business hours, typically 2-24 hours.
  • Most exchanges aim to process withdrawals quickly, often within a few hours during banking days. However, sometimes it can take up to 1-3 business days. For instance, WazirX and CoinDCX often process withdrawals within 30 minutes to 2 hours for most transactions.
• Verify Bank Account: Once the withdrawal is processed, check your bank account statement to confirm the receipt of funds.

Considerations and Best Practices

Converting cryptocurrencies to fiat involves more than just technical steps.

It requires an awareness of market dynamics, security protocols, and ethical considerations.

Focusing on responsible practices ensures a smoother and more secure financial journey. How to convert ETH to gbp crypto com

Volatility and Market Timing

Cryptocurrency markets are notoriously volatile.

The price of Ethereum can fluctuate significantly within hours or even minutes.

• Impact on Conversion: This volatility directly impacts the amount of INR you receive. If you sell during a market dip, you might receive less INR than if you had sold during a peak.
• Timing: While it’s impossible to perfectly time the market, consider checking price charts and market trends. Avoid making impulsive decisions based on sudden price movements. Some users might employ strategies like Dollar-Cost Averaging DCA for buying, and a similar approach selling in batches could be considered for conversion, though less common.
• Long-Term vs. Short-Term: From an ethical perspective, engaging in excessive short-term trading based on rapid price swings can resemble speculative gambling, which is discouraged. A focus on long-term value and utility of assets, or investing for genuine productive purposes, aligns better with responsible financial conduct.

Security Measures

Protecting your digital assets and financial information is paramount.

• Strong Passwords: Use unique, complex passwords for your exchange account and email, combining letters, numbers, and symbols.
• Two-Factor Authentication 2FA: Always enable 2FA using an authenticator app like Google Authenticator or Authy rather than SMS-based 2FA, which is less secure. This adds an extra layer of protection, requiring a code from your phone in addition to your password.
• Phishing Awareness: Be extremely cautious of phishing attempts. Always verify the URL of the exchange website before logging in. Phishing emails or messages often try to trick you into revealing your login credentials. Never click on suspicious links.
• Secure Internet Connection: Avoid performing crypto transactions on public Wi-Fi networks, which are often unsecure. Use a private, secure internet connection.
• Hardware Wallets for large holdings: For significant amounts of Ethereum, consider using a hardware wallet e.g., Ledger, Trezor. These devices store your private keys offline, making them highly secure against online hacks. You would then transfer ETH from your hardware wallet to the exchange when you wish to sell. This is the gold standard for crypto security.
• Regular Software Updates: Keep your operating system, browser, and antivirus software updated to protect against vulnerabilities.

Fees and Tax Implications

Understanding the costs and tax obligations is crucial for accurate financial planning.

• Exchange Fees:
  • Trading Fees: As mentioned, these are typically a percentage of your trade value e.g., 0.1% to 0.2%.
  • Deposit Fees: Usually zero for crypto deposits but can apply for INR deposits e.g., through specific payment gateways.
  • Withdrawal Fees: Flat fees for INR withdrawals e.g., ₹10-₹50 and variable fees for crypto withdrawals network gas fees.
• TDS Tax Deducted at Source: A 1% TDS is applied on every crypto sale transaction above a certain threshold ₹10,000 in a financial year, or ₹50,000 for specific persons. This is not an additional tax but an advance tax payment. You will receive a TDS certificate that you can use to claim credit when filing your income tax returns. For example, if you sell ETH for ₹100,000, ₹1,000 will be deducted and submitted to the government.
• Income Tax on Crypto Gains: As noted, any income from the transfer of VDAs including profits from selling ETH is taxed at a flat rate of 30% in India, without any deductions except for the cost of acquisition. Losses from crypto trades cannot be offset against other income or carried forward to subsequent years. This high tax rate underscores the importance of ethical financial decision-making, moving away from purely speculative ventures that are subject to such heavy taxation, and towards productive, shariah-compliant investments.

Alternative Methods for Converting Ethereum to Rupees P2P

While direct exchange selling is common, Peer-to-Peer P2P platforms offer another avenue, often with different fee structures and direct interaction.

• How P2P Works: In a P2P transaction, you directly interact with another user peer to buy or sell crypto. The exchange acts as an escrow service, holding the crypto until the payment is confirmed.
• Advantages:
  • Often Lower Fees: Many P2P platforms, like Binance P2P, charge zero trading fees.
  • More Payment Options: Offers a wider range of payment methods, including UPI, bank transfers, and various digital wallets, beyond what traditional exchanges might support for direct fiat withdrawals.
  • Potentially Better Rates: Sometimes, you might find slightly better rates than on the spot market.
• Disadvantages:
  • Requires Vigilance: You need to be careful to ensure the buyer sends the payment before releasing your crypto. While the exchange provides escrow, it’s crucial to follow their guidelines and verify payment receipts thoroughly. Scammers can try to send fake payment proofs.
  • Slower Process: Can be slower than spot trading, as it depends on the buyer/seller confirming payment.
  • Trust and Reputation: It’s advisable to trade with users who have a good reputation and high completion rates on the platform.
• Process on Binance P2P Example:
  1. Select ETH/INR Pair: Go to the P2P section and select “Sell” for ETH.
  2. Filter by Payment Method: Choose your preferred payment method e.g., UPI, Bank Transfer.
  3. Choose an Advertiser: Browse through available buyers advertisers based on their price, limits, and completion rate.
  4. Enter Amount: Enter the amount of ETH you wish to sell.
  5. Confirm Sale: The ETH will be held in escrow.
  6. Receive Payment: The buyer will send the INR to your chosen payment method. VERIFY THE PAYMENT IN YOUR BANK ACCOUNT/UPI APP BEFORE RELEASING CRYPTO. Do not rely on payment screenshots from the buyer.
  7. Release Crypto: Once you confirm receipt of funds in your bank account, release the ETH from escrow to the buyer.

P2P platforms, while offering flexibility, still demand a high level of responsibility and ethical conduct.

Users must ensure that all transactions are legitimate and free from any deceptive practices, aligning with Islamic principles of fair trade and honesty.

Ethical and Responsible Financial Management

From an Islamic perspective, engaging with financial instruments like cryptocurrencies requires a principled approach that prioritizes honesty, transparency, and avoids elements of riba interest, gharar excessive uncertainty or speculation, and maysir gambling. While the permissibility of cryptocurrencies themselves is a subject of ongoing scholarly debate, the manner in which one engages with them is crucial.

• Avoid Excessive Speculation Gharar and Maysir: The rapid price swings of cryptocurrencies can make them attractive for speculative trading, which can resemble gambling maysir. A Muslim should primarily engage in investments that have tangible underlying assets or productive utility, or are for legitimate trade. Pure speculation, where one profits solely from price fluctuations without any real economic activity or value creation, should be approached with extreme caution, or preferably avoided, as it can be akin to gambling. Focus on understanding the technology and its potential uses, rather than merely chasing quick profits.
• Steer Clear of Interest Riba: Ensure that any platforms or financial products you use in conjunction with cryptocurrencies do not involve interest-bearing mechanisms. This includes avoiding crypto lending platforms that pay interest, or using credit cards with interest to buy crypto. Halal financial alternatives and ethical banking practices should always be sought.
• Honesty and Transparency: All transactions, whether on an exchange or P2P, must be conducted with utmost honesty and transparency. Avoid any deceptive practices, fraud, or misrepresentation. This applies to accurately reporting taxes as well, fulfilling your civic and religious duty.
• Productive Use of Wealth: The ultimate goal of wealth in Islam is not mere accumulation but its circulation for the benefit of society and for productive purposes. If engaging with cryptocurrencies, consider how any potential gains can be used for good, such as supporting family, charity Zakat, or investing in ethical businesses.
• Risk Management: Do not invest more than you can afford to lose. Cryptocurrency markets are highly volatile and carry significant risk. Responsible financial management dictates prudence and diversification, rather than putting all one’s eggs in one basket, especially in speculative assets.
• Research and Knowledge: Before engaging in any financial activity, including crypto, gain sufficient knowledge. Ignorance can lead to harmful decisions. This aligns with the Islamic emphasis on seeking knowledge.

By adhering to these principles, one can strive to navigate the complex world of cryptocurrency conversions in a manner that is not only financially prudent but also ethically sound and pleasing.

The aim should always be responsible wealth management that contributes positively rather than being solely driven by speculative desires. How to convert ETH to usdt in bitget

Frequently Asked Questions

What is the best way to convert Ethereum to INR?

The best way to convert Ethereum to INR is typically through a reputable cryptocurrency exchange that supports INR withdrawals, such as WazirX, CoinDCX, or Binance via its P2P platform. These platforms offer a secure and regulated environment for selling your ETH and withdrawing the funds directly to your Indian bank account.

Is it legal to convert Ethereum to rupees in India?

Yes, it is legal to convert Ethereum to Indian Rupees in India.

While cryptocurrencies are not recognized as legal tender, the Supreme Court lifted the banking ban on crypto transactions in 2020. However, all income from the transfer of virtual digital assets is subject to a 30% tax, and a 1% TDS is levied on transactions above certain thresholds.

How much tax do I pay when converting Ethereum to INR?

You pay a 30% income tax on any profits made from selling Ethereum in India.

Additionally, a 1% Tax Deducted at Source TDS is levied on the transaction value if it exceeds ₹10,000 in a financial year or ₹50,000 for specified persons. This TDS is an advance tax and can be adjusted against your final tax liability.

What are the fees involved in converting Ethereum to INR?

Fees generally include trading fees charged by the exchange when you sell ETH, typically 0.1% to 0.2%, and withdrawal fees a flat fee for withdrawing INR to your bank account, often ₹10-₹50. You also incur Ethereum network “gas fees” when transferring ETH from your personal wallet to the exchange.

How long does it take to convert Ethereum to Rupees and get the money in my bank?

After selling Ethereum on an exchange, the INR is typically credited to your exchange wallet almost instantly.

Withdrawing INR to your bank account usually takes a few minutes to a few hours via IMPS, or up to 1-3 business days via NEFT/RTGS, depending on the exchange and bank processing times.

Can I convert Ethereum to cash directly?

No, you cannot convert Ethereum to physical cash directly. How to convert from ETH to usdt on bybit

All conversions must go through a cryptocurrency exchange or a P2P platform, and the funds are then transferred to your bank account.

You can then withdraw cash from your bank account if desired.

What is the minimum amount of Ethereum I can convert to INR?

The minimum conversion amount varies by exchange.

Most exchanges have a minimum trade size e.g., 0.001 ETH and a minimum INR withdrawal limit e.g., ₹100 or ₹500. Check the specific exchange’s terms and conditions.

Is KYC mandatory for converting Ethereum to INR?

Yes, Know Your Customer KYC verification is mandatory for all legitimate cryptocurrency exchanges operating in India.

This involves providing government-issued ID PAN, Aadhaar and bank details to comply with anti-money laundering AML regulations.

What if my Ethereum conversion fails?

If your Ethereum conversion fails, it could be due to network issues, incorrect wallet addresses, or insufficient funds/fees.

If the transaction is on the exchange, check your order history and contact their customer support.

If it’s a transfer to the exchange, check the transaction hash on Etherscan for status.

Can I sell Ethereum directly using UPI?

Yes, some P2P platforms like Binance P2P and Indian exchanges like WazirX allow you to sell Ethereum for INR directly via UPI, as it’s a popular payment method in India. How to convert ETH to cash

Ensure the buyer’s UPI payment is confirmed in your bank/UPI app before releasing your crypto.

What is a peer-to-peer P2P conversion of Ethereum?

A peer-to-peer P2P conversion involves selling your Ethereum directly to another individual user, with the exchange acting as an escrow service.

The buyer sends INR to your bank account via UPI, IMPS, etc., and once you confirm receipt, the exchange releases the Ethereum to them. This method often has lower fees.

What are the risks of converting Ethereum to INR?

Risks include market volatility price can drop before you sell, security risks phishing, exchange hacks if not using 2FA or secure practices, regulatory changes in India, and potential delays in bank transfers.

Always use secure practices and legitimate platforms.

How can I minimize conversion fees?

To minimize fees, compare trading and withdrawal fees across different exchanges. P2P platforms often have lower trading fees.

Consider consolidating smaller amounts if withdrawal fees are flat.

Also, be mindful of Ethereum network gas fees by checking gas prices before transferring ETH.

Do I need a separate wallet for Ethereum on the exchange?

When you deposit Ethereum to an exchange, it typically goes into your exchange-managed hot wallet.

While technically part of the exchange’s overall cold/hot storage system, it’s reflected in your individual account balance. How to convert ETH to usdt on binance app

It’s different from a personal self-custody wallet like MetaMask or Ledger where you control your private keys.

What documents are needed for KYC verification in India?

For KYC, you typically need a PAN Card mandatory for tax purposes, an Aadhaar Card or Passport/Driving License for identity and address proof, and possibly a bank statement or utility bill for address verification.

A selfie or live video verification may also be required.

Is converting Ethereum to INR considered a taxable event?

Yes, converting Ethereum to INR or any fiat currency is considered a taxable event in India.

The profit generated from the sale of Ethereum is subject to a 30% tax, and a 1% TDS is levied on the transaction value.

Can I convert Ethereum if it’s stored on a hardware wallet?

Yes, you can.

You would first need to transfer your Ethereum from your hardware wallet to your chosen cryptocurrency exchange’s Ethereum deposit address.

Once the ETH is on the exchange, you can proceed with selling it for INR.

What is the difference between a market order and a limit order when selling ETH?

A market order sells your Ethereum immediately at the best available current market price. A limit order allows you to set a specific price at which you want to sell your Ethereum. the order will only execute if the market price reaches your set price.

What if my bank account details are incorrect during withdrawal?

If your bank account details are incorrect during an INR withdrawal, the transaction will likely be rejected by your bank and returned to the exchange. How to convert ETH to xmr

The exchange will usually credit the funds back to your INR wallet, though there might be a small fee or delay.

Always double-check your bank details before confirming a withdrawal.

Are there any daily limits for converting Ethereum to INR?

Yes, exchanges typically have daily and monthly withdrawal limits for INR, which vary based on your KYC verification level and the specific exchange.

These limits are in place for security and regulatory compliance.

You can usually find these limits in your account settings or the exchange’s FAQ section.