The financial world of cryptocurrencies is expanding greatly each day. As more and more people become aware of these new terms and the benefits of investing in cryptos, the enthusiasm and keenness to grow their money have increased. From giants in the finance sector to novices in the field, everyone wants to try their hands at investing in cryptocurrencies and give their money a fair opportunity to grow. There are many digital currencies available in the market at this moment. Some of the sought-after ones are Bitcoins Ethereum, Ripple, Solana, Dogecoin, etc.
Introduction to Ripple: Ripple, or XRP, is a technology that essentially acts as a cryptocurrency as well as a digital payment network for any monetary transactions happening online. It is meant to be a secure blockchain wherein anonymous financial payments can take place from anywhere in the world. First released in 2012, the main function of this crypto was to act as a payment settlement and asset exchange system across countries. It allows the seamless transfer of any denomination – dollars, pounds, rupees, yen, etc. To buy ripple in INR, Indian citizens would have to check the current price of XRP at that given moment of purchase.
One can trade in Ripple using the digital wallets that are available online. Choosing a wallet is accompanied by several factors that might influence the decision – the features, security usability, etc. There are two broad types of wallets – hardware and software.
- Hardware wallets are the ones that are considered to be the safest as they are external devices that can be connected to laptops or tablets or mobile phones.
- Software wallets can be downloaded from the internet onto the devices the customer wants to use to trade XRP in. These are generally free of cost and require an internet connection to operate.
Users in India trading XRP in INR cannot do without the use of Ripple wallets, whether they are hardware or software. Some of the most commonly used wallets are:
- Binance – This is a software wallet primarily deemed one of the safest online wallets to trade in XRP online. One of the major appealing features of this platform is its compatibility with the web, android, and iOS. The interface is user-friendly and easily accessible via the internet.
- CoinSwitch – One of the best software programs that deal in XRP is CoinSwitch. With the minimal value of INR100, the users can make a purchase or trade-in XRP. Upon withdrawal, one can get the credit instantly deposited into the bank accounts without any transaction fees. The website is easy to navigate and is user-friendly.
- Coinbase – This can be downloaded via the internet and therefore, is software. Coinbase provides a multi-currency approach and can allow users to generate additional wallets for different cryptocurrencies. It is available in 100+ countries in the world.
- Bitcoin IRA – Unlike the name, it does not only deal in Bitcoins, it also takes into account several other cryptos like XRP and even gold. It offers the customers a tax-free gain on profits and an interface to store their assets online along with a secure trading facility via SSL. Trading in digital currencies is possible 24/7 across the globe with this wallet. Another feature would be the real-time tracking of prices and performances of the currencies and their portfolios.
- Ledger Nano – This is one of the hardware wallets that provides access to several cryptocurrencies. Considered to be one of the safest hardware systems, this platform is attractive as they offer an LED display upon the validation of the payment and also a secure PIN to confirm the payment. The security of this wallet is taken up a notch as they require two-factor authentication. It can be accessed on any device that has a compatible USB port and it allows control of all the cryptos in one place.
- Trezor – Another hardware wallet that provides high security and support for multiple currencies. The open-source feature for this platform makes it a good candidate for constant improvement. The customers can choose to randomly generate PIN codes to keep their devices optimally secure.
- Robinhood Crypto – This platform gives its users access to purchase and deal with Bitcoin, Dogecoins, XRPs, and other currencies. Using an application on smartphones and computer devices (Mac, iOS, Windows), one can buy and sell the different cryptos globally. Access real-time market data and make the decision based on the calculation given by analysts before making a deal. Secure the personal information and remain anonymous while also being able to invest in equity, derivatives, and other assets.
Buying and Selling Ripple – By following a few easy steps, one can make hassle-free purchases and trade in XRP in India/
- Create an XRP wallet – choose a wallet after research and consideration to store the cryptos.
- Get a public address – identify the public XRP address associated with the particular wallet as that would be the identity.
- Crypto exchange platform – open a brokerage account to be able to trade in cryptos or become a part of the websites and apps that make this possible
- Get trading
With access to the internet, trading in cryptocurrencies has become easy for almost all interested individuals anywhere in the world. Start dealing and growing the hard-earned money using the best platforms and guidance available online. Enter the world of cryptocurrencies at the earliest to maximize profits.