Ripple’s market cap shot up more than 2x in the last week alone taking Ripple’s market cap to nearly 30 billion USD. While there are many platforms where Indians can buy Bitcoin and Ethereum, Ripple coin exchanges are very few in India. Below, we look at some cryptocurrency platforms where people can buy Ripple (XRP) in India in INR.
List of platforms to buy Ripple (XRP) in INR:
Koinex is a Mumbai based cryptocurrency exchange platform where users can trade Ripple. Apart from XRP, they also support other currencies including Bitcoin and Ethereum. Koinex charges 0.25% fee from buyers and 0.2% from sellers, but seller fees are waived off until December 31, 2017.
btcxIndia is the first platform in India which was launched where users can buy and sell Ripple. Trading fees on btcxindia are at 1%. It was launched in March 2016 in partnership directly with Ripple Labs, the parent company of Ripple coin. Currently, there is a hold on new account creations at btcxIndia due to high demand. So, if you want to trade Ripple, you may want to check with the other 2 platforms.
CoinDelta offers trading of buy and sell trading of Ripple, along with other currencies such as Ethereum and Litecoin. While the seller fee is 0%, buyer fee is 0.3%.
How to exchange Bitcoin or Ethereum for Ripple
Alternatively, if you own Bitcoin or Ethereum, you can exchange for Ripple in platforms such as Binance.
You can buy Bitcoin or Ethereum on Indian exchanges like Koinex. Then, you can transfer your BTC or ETH to Binance wallet.
With BTC and ETH, you can purchase Ripple and many other altcoins including TRON, Stellar Lumens, and NEO.
FAQ – Frequently Asked Questions
- What is Ripple (XRP)?
Ripple is a payment network for financial institutions and an alternative to SWIFT. Ripple has two platforms: a payment network (RippleNet) and a cryptocurrency, Ripple (XRP). While RippleNet allows banks to transfer money, all the transactions are recorded on the decentralized XRP Ledger.
- What are benefits of Ripple?
- Fast and Scalable
- Low transaction fees
- Used by 100+ global financial institutions
- Is Ripple legal in India?
Like Bitcoin and Ethereum, Ripple is not currently regulated by RBI. RBI issued a third warning last week warning cryptocurrency users and traders in India on the risks of cryptocurrencies and ICO’s.
- What documents are needed for eKYC?
- PAN Card
- Aadhaar card
- Bank documents – Passbook (or) Canceled Cheque