There are many ways to transact cryptocurrencies across the globe, and daily, enthusiastic crypto traders do this in numbers. How to buy Ripple in India is a recommended tutorial that anyone interested in cryptocurrency trading must read.
Ripple has earned a place among the Top 5 cryptocurrencies list over the past 12 months in a remarkable fashion. With growing interest across the globe in its money transfer platform, XRP tokens surged in market value.
The attraction to Ripple is strong with conventional banks realizing that it provides a means to reduce transaction costs. As a crypto trader, you too can benefit from the opportunities offered by Ripple.
Since the Ripple protocol known as XRP facilitates instant transaction, the delays associated with Bitcoin is avoided. These highlight why Ripple remains a sensation across the globe. If you live in India, you should not miss out in the unfolding opportunities.
Here are the 5 best ways to buy Ripple in India:
1. Open an Account on an Indian Exchange
On Ripple homepage, the exchanges listed for Ripple purchase include Bitstamp, Coinone, Kraken, BITSO, Korbit and Others. However, for Indian residents, cost of bank wire might make it costly to deal directly with these exchanges.
There are alternative exchanges operating out of India that Indians can use for Ripple trade. You can try out Koinex, BTCxIndia, Bitbnbx and ZebPay. Some of these exchanges do not support XRP trading and you might have to buy BTC and exchange it for XRP in other exchanges.
The exchanges in India largely use mobile apps to support cryptocurrency trading and this is very popular. You can download the app for ZebPay or any of these exchanges from your Android or Apple Store.
You will be expected to provide:
- Your full names
- An email address
- Phone Number
- Government issued ID to verify you account
When you download the exchange app using your mobile phone, you can go ahead to:
- Sign up by entering your email address
- Create a password
- Go to your email and click on account confirmation link
- You might be prompted for a password change
- Follow the prompt and change your password
- Provide a screenshot showing you holding your ID
- Verify your Bank account
- An automated debit will be made
- You will have to provide the amount and confirm it on the app
- Your accounts will e validated within24 hours and you can start trading
- The means of funding your account will be stated by your exchange after verification is completed.
2. Get an Online or Hardware Wallet
There are many popular hardware and online wallets you can use for Ripple. The purpose of wallets is to safeguard your tokens from loss due to hacking or exchange shutdown.
If you get an online wallet, you will have to pay usage fees, but, in the alternative, you can buy a hardware wallet. Hardware wallets are particularly safe, and the user only needs to guide against a physical loss. Check the 5 best hardware wallets here >>
If you decide on an online wallet, you will have the freedom to access it anywhere and at anytime. Check the 5 best online wallets here >>
3. Deposit Funds into your Exchange Account
The crypto exchanges you have in India allow bank deposits. Depending on the one you are using, make sure to follow the process provided by each exchange.
If an exchange allows INR deposits, make sure to use the right account number and expected reference. Provide the deposit details to your exchange to make your cryptocurrency purchase possible.
To fund your ZebPay account, this is what you must do:
- Go to Google Play and download ‘TEZ ‘app
- Once completed, click a new tab to add ZebPay payment
- Click on account number to add the ZebPay bank account number
- Provide the amount you are transferring
- Provide your transaction PIN and proceed
- If the transaction is successful, this notification will appear:
- You can now to go to the ZebPay app enter the TEZ APP transaction ID and screenshots
- Your BTC order will be processed.
4. Start to Trade
Your cryptocurrency trading can begin when you have funded your token wallet. If you have succeeded in buying any of the dominant tokens like BTC, ETH, LTC, USDT or BCH, you can start to trade.
- Account opening using an email address and a password
- Verifying your account using a government issued ID
- Authenticating your account by providing a phone number to receive an SMS code
- A Google Authenticator can also be downloaded from Google Play store for 2FA (factor authentication)
Trading in many of the cryptocurrency exchanges globally gives you a chance to buy and sell Ripple alongside 200 popular tokens.
5. Use a Global Exchange
There are a number cryptocurrency exchanges that operate globally, which are open to Indian nationals. Unlike China, there is no blanket ban on cryptocurrency trading that forbids exchanges from covering India.
Buy Ripple in India with Binance:
- Login to your account, and if you do not have one,register here
- Click on ‘Funds’
- Click on the ‘Balances” tab
- You will find your BTC in there
Step1: Send BTC from ZebPay
If you follow the processes above and register on Binance, you will be able to send Bitcoin from your ZebPay wallet to Binance.
Here is what you should do:
- Login to your ZebPay account
- Go to your wallet
- Click to reveal the transactions tab
- Click on the ‘send’
- The recipient’s wallet address tab will open
- You can either select an existing address or enter a new one
- To enter a new one, use “CTRL V” to paste your Bitcoin BTC wallet address
- You can also use the QR scan to scan your wallet address
- Once completed, click on the green tick to the top-right corner of your screen
- To confirm the transaction, input our 4 digit PIN
- Click on submit
- You will have to wait for 1 to 3 hours to see the transaction completed.
Step2: Use Binance to Buy Ripple in India
- Go to the top of your Binance homepage
- Click on ‘Exchange’
- Click on ‘Basic’
- The exchange transaction page will display
- To the top- right side of your screen is the favorites tab
- Click on BTC
- The trading pairs for BTC will display
- If XRP/BTC does not reflect, go to the search tab and enter ‘XRP’
- The XRP/BTC pair will now reflect underneath as:
- Click on the XRP/BTC row
- The buy and sell tab will display underneath the middle of your screen as follows:
- Click on ‘Market’ at the top midsection of the ‘BUY XRP’ tab
- Enter the amount of XRP you want to buy
- You can click on the percentage tabs under the amount row to use that function
- If you click on 100%,your BTC balance will be used to buy XRP
- On the ‘Total’ row, the BTC for the transaction will reflect
- Click on the BUY XRP tab under the tab to submit
- The transaction will show up in your ‘Balances’ tab immediately
- To access your ‘Balances’ tab, go to the ‘Funds’ tab on the top row of our screen and click on it
- Click on the ‘Balances’ tab to reveal the XRP you just bought.
These 5 best ways to buy ripple in India makes it easy to trade your XRP pairs effectively and earn the rewards as a crypto trader.
If you have a registration glitch on any of the India-based exchanges, try any of the other options till you succeed. Once your account is registered and you have purchased your BTC, you are free to trade any BTC pair you desire.