Top Cryptocurrency Exchanges in India that Support Ripple (XRP)
The story of cryptocurrency might have started with a Bitcoin but over the years, the emergence of this new asset class has escalated into a full-fledged digital asset revolution with a global impact. According to recent data compiled in 2020, there are about 5000 cryptocurrencies in the world and more than 20,000 different market types. From 2008 to 2020, the global crypto industry was able to launch that many coins, with the launch of new altcoins happening almost every other day.
The availability of so many crypto assets has diversified trading options for crypto enthusiasts. People all over the world and even in an emerging crypto industry like India are seeking out altcoins with good market capitalization along with exchanges that have it listed for better and profitable trading experience. On that note, for this blog, we will discuss Ripple’s XRP, what makes it a preferred choice for traders and cryptocurrency exchanges in India that allow trading with the coin.
Overview on Ripple (XRP)
Both Ripple and XRP have had a steady climb up the cryptocurrency market charts, with the coin holding 3rd position in worldwide ranking at present, according to Coin Market Cap.
Source: https://coinmarketcap.com/currencies/xrp (at the time of writing this article)
XRP is the native digital asset of Ripple, which runs on its digital payment platform RippleNet. The platform is a real-time gross settlement (RTGS) system built over a distributed ledger database known as the XRP Ledger. RippleNet enables instant money transactions all over the world. So, both the open-source payment network as well as the asset is called Ripple.
XRP was created to connect banks and financial institutions spread across the world to enable cross-border payments and transactions. It aims to acquire liquidity in on-demand cross-border transactions. Financial institutions can use it to source instantaneous liquidity, and payment providers can leverage it to settle fast payments and minimize the cost of foreign exchange.
While that is the utility side of XRP, the token is globally exchanged, bought, and sold across several cryptocurrency exchanges and is one of the leading Altcoins at present. According to market reports, the demand for XRP has significantly risen in India after the ban on crypto trading was lifted from the country.
Leading Cryptocurrency Exchanges in India with XRP Listing:
Being a newly liberated and emerging cryptocurrency industry, India has been buzzing with digital asset trade activities. Throughout the recent months, a couple of global exchanges have initiated ventures in the country (Binance acquiring WazirX), and the others have resumed trade operations (PayBito resumes operations).
The population is also taking a significant interest in crypto trading with the leading cryptocurrency exchanges in India, experiencing continued surges in trade volume. Along with the increase in trade activities, users are also keen to try out various Altcoins rather than sticking to Bitcoin, a practice that was initially visible in 2016, when cryptocurrency was making a foray into the Indian market. XRP being one of the top digital assets, here is a list of exchanges (global and local) in India that offer it to the traders.
PayBito
PayBito is a leading global cryptocurrency exchange, one of the very first to launch trading operations in India. The exchange is known for its high-end trading features and availability of high liquidity trading pairs, with sophisticated security architecture for the safety of the assets and the traders. It has the most impressive portfolio of crypto assets, including XRP. The platform offers the lowest trading fees of 0.075%, INR support, and traders are guaranteed the best crypto prices. All of these attributes make it a preferred exchange for XRP trading.
BitBNS
BitBNS is a local exchange that is one of the leading cryptocurrency exchanges in India. It has an extensive range of digital assets, which is its stand-out feature, as it is the only local exchange to offer such variety in coins. Among the other leading cryptocurrencies, it also allows traders to buy/sell XRP. BitBNS enables the lending of crypto assets through margin trading that increases the chances of multiplying the profits, which can be beneficial for you.
WazirX
WazirX is also a local exchange, fairly new compared to the rest, and is also the first Indian cryptocurrency exchange to get acquired by a global exchange. The exchange at present if affiliated under Binance, an acquisition that has contributed heavily to its popularity and credibility. WazirX is known for its intuitive and simple interface and advanced security features. The exchange runs security audits regularly to ensure the safety of the traders. It has a large collection of crypto assets and one of the few exchanges that offer XRP for trading with the promise of favorable prices, in comparison to other Indian origin exchanges.
ZebPay
Although ZebPay is one of the oldest exchanges of India, it is unlike traditional exchanges, as it is a retail exchange. The fact that is has a large spread, often interferes with the profit margin in transaction fees. That said, ZebPay does offer XRP for trading to the users. So, if you are interested in buying/selling XRP, the ZebPay exchange is worth trying. However, since it has a handful of crypto assets listed in the platform, the options are limited to a few trading pairs. Nevertheless, you can surely try it out as the exchange claims to be one of the safest and most user-friendly trading platforms.
The ones mentioned above are the top and legit cryptocurrency exchanges in India that has Ripple (XRP) listed for trading, which you can try to expand your very own digital asset portfolio. Ripple is running a good market price at the moment and has been steadily holding the top position among other cryptocurrencies. Hence this is a favorable time to leverage XRP to earn profits via exchanges that offer the best prices and trading pairs.
