In India, the popularity of Ripple and Ethereum as a digital currency is on a consistent rise. Ripple and Ethereum both are in the list of top three digital currencies. However, for newbies buying and selling Eth and XRP coins can bring can overwhelming. Due to innumerous exchanges competing in the arena there is no guidance for new entrants. But worry not as in this post, we will enlighten you on how to buy and sell Ethereum and Ripple in India.
So, without any ado, let’s get started…
How to buy and sell XRP and ETH in India
The most straightforward way to buy, sell, or trade any cryptocurrency, including XRP and ETH in India, is through exchanges. They are the one-stop destinations that allow you to invest in crypto assets the most hassle way.
A step-by-step guide to buying and selling XRP and ETH
Step 1: Register for an account with an exchange
There are a number of exchanges in India that allow you to buy and sell XRP and ETH. Through these exchanges, you can easily opt for XRP to INR and ETH to INR conversion and vice versa. Register and create an account with any of the exchange that suits your desired preferences. For setting up an account, you are required to furnish your email address and create an authentic password. Most of the exchanges in India further require you to complete Know Your Customer (KYC) requirements in which you need to provide a valid proof of identity.
To add an extra layer of security to your account enable two-factor authentication.
Step 2: Deposit funds into your account
Many crypto exchanges do not allow you to swap INR or other fiat currencies for ETH and XRP. In such instances, you are first required to acquire other cryptocurrency using INR listed in pairing with ETH or XRP on your exchange platform. And then, later, you can exchange those acquired cryptos for XRP and ETH.
Step 3: Buy XRP/ETH
Your exchange account dashboard features a dedicated Buy/Sell link, enabling you direct access to action you desire to perform. To buy XRP, search for XRP, and you will get an option to feed the amount of XRP you desire to purchase.
You can further verify the transaction details, including XRP, you intend to buy and its total buying cost before executing the purchase. The same procedure follows for buying ETH.
How to sell XRP/ ETH
The process for selling ETH and XRP is similar to one performed for buying. Follow similar steps, as outlined in step 3. For selling, click on “Sell XRP” or “Sell ETH” and enter the transaction details. If XRP or ETH is not in pairing with your chosen currency, get it first exchanged with popular currency to acquire the coins you want.
The most recommended Cryptocurrency exchanges that allow buy and sell of XRP and ETH in India are CoinSwitch Kuber, Unocoin, and Koinex.