We don’t need to tell anybody that, what is cryptocurrency? Everybody knows it in the form of most popular Bitcoin. But the Bitcoin is not the only cryptocurrency available in the currency market, there are dozens of well known digital coins are available and one of them is Ripple (XPR). After a booming in the price of Bitcoin people desperately looking for some other better cryptocurrency source that can double their investment, especially the developing countries like INDIA. People are eagerly searching a way and want to know, how to buy Ripple coin in India because the price of Ripple (XRP) is still within the reach and budget of the common people.
Note: H2S Media just demonstrating the available option right now to buy ripple coin in India in this tutorial. But we don’t endorse or recommend to buy cryptocurrency, please do it at your own risk. This Ripple buying guide is just for knowledge purpose.
Step by Step guide to buy Ripple coin in India using the Koinex from INR.
Step 1: Go to Koinex website, here is the LINK. Create an account by filling the details on the Signup form.
Enter your name, email address, the password you want to assign to the account and mobile number. After providing the mobile number click on Send OTP, a one time password will send to your number to verify it, enter that in the OTP column.
Step 2: The Koinex needs the document verification to eliminate the fraud people. That’s why in the second step upload your documents to the website. Under the KYC you need to provide the address, and identity proof such as Pan card, Adhaar card front & back, and one passport size photo. The Koinex will take 2 to 3 days or maybe 1 week depending on the submission requests they are receiving.
Step 3: Once you get account approval, you can but Bitcoin, Ethereum, Litecoin, Ripple and Bitcoin cash from the Koinex via INR. As we already have an approved account will show you how to buy a Ripple coin.
Step 4: Click on the Balance link given in the menu and from balance page deposit INR either using the IMPS or NEFT directly from your bank to Koinex. The Koinex bank account details are given on the page. Be sure while depositing money to Koinex account in the remarks column add your Koinex ID otherwise they will reject or revert the transaction. The Deposit is free but the minimum Deposit is Rs.2000.
The other option to deposit the money into your Koinex account INR balance is the payment gateways. The Koinex supports multiple gateways such as Payumoney and more. The fees of depositing money into Koionex using payment gateways will charge you flat 2% of Indian Rupees (INR).
Step 5: Once you have deposited the money in your Koinex account, its time to buy a Ripple coin. Go to Menu and select the currency Ripple which we need purchase or trade.
Step 6: From the trade section you need to mention two things: how much Ripple coins you want to buy? and lowest price you can pay for it. For example, if you want to purchase 1 Ripple coin at the price of 180 INR, so when the price gets down or someone is selling at your bid the Koinex will purchase that for against your INR balance. However, If you want to purchase instantly then place the bid exact the lowest amount showing above the price column, for reference you can see the screenshot where above the price column the lowest ask price for one Ripple coin is 192 INR and if I want to buy 20 Ripple column the 20*190= 3800 INR. The minimum Ripple coin you can buy from Koniex is 20. The money to buy ripple coin will be deducted from your deposited INR balance.
In the same way, you can buy any other supported cryptocurrency using the Koinex in India.
Step 7: After buying the Ripple, it will automatically transfer to your Koinex Ripple wallet. From where you can Deposit or Withdraw it. For example, you have Ripple coin in some other third party wallet then using the Deposit option, the ripple can be transferred from that particular wallet to the Koinex wallet. And in the same way, using the withdraw option the Ripple coin can send to any other Ripple wallet.
Note: If you have any doubt or question you can ask using the comment section and we will try to solve them. OR if you have any doubt in the KOinex usage you can also see the Koinex official guide: how it works…