About XRP (XRP)
XRP is the currency that runs on a digital payment platform called RippleNet, which is on top of a distributed ledger database called XRP Ledger. The RippleNet payment platform is a real-time gross settlement (RTGS) system that aims to enable instant monetary transactions globally. While XRP is the cryptocurrency native to the XRP Ledger, you can actually use any currency to transact on the platform.
If you’re ready to take the next step and want to buy some XRP, take the next step with NeoFi.
How to Buy XRP In India
Create a free account on the NeoFi Website or the App
Create a NeoFi account on NeoFi's website or on the NeoFi app by following the shown. After successful registration, complete the KYC section in order to activate your account. Once the KYC is completed and verified, you are good to start buying XRP on NeoFi.
Recharge Your NeoFi Wallet
You can recharge your NeoFi wallet using UPI, Bank Account Transfer, and IMPS. Simply go to Wallet and click on Deposit. Choose the amount you want to recharge your wallet with and select the payment method. Once the payment is successful, the amount will be credited to your NeoFi wallet.
Tip: Use IMPS when using Bank Account Transfers to deposit money to your NeoFi wallet. This will ensure that your money is deposited instantly to your NeoFi wallet.
Purchase your first XRP (XRP) on NeoFi
Once your NeoFi wallet is recharged, you can start buying XRP. Go to the Buy/Sell section and select XRP. Choose the amount you want to buy and click on Buy. Once the payment is successful, the XRP will be credited to your NeoFi wallet instantly. You can check your XRP balance in the Wallet section.
Next Steps: You can now start trading XRP on NeoFi. You can also hold XRP in your NeoFi wallet and earn interest on it (coming soon).
Buying, Selling, Investing, Transferring and Holding XRP is legal in India However, it does not have a legal tender status. This means that XRP and other cryptocurrencies can not be used to settle debts in exchange for any type of goods or services. Cryptocurrency is taxed under the category of virtual digital assets.
On the NeoFi platform, the minimum purchase amount for buying XRP is INR 1000. However, this can change, and please go to the XRP trading page to know the latest amounts.
Since 2020, Crores of Indians have invested in cryptocurrencies, and with the number going up every day. Indians look excited for the crypto revolution. The government is also actively trying to set up a regulatory framework for its smooth functioning, the recent MCA amendment being the first step.
Yes, you can directly buy XRP in India on the NeoFi platform. Simply, register for NeoFi, top up your wallet, and buy your first XRP.
Using Neofi you can buy more than 100+ cryptocurrencies in India. NeoFi has simplified crypto buying, selling and investing for Indians, and you can begin trading in crypto with just ₹100. You can also earn rewards for buying crypto through NeoFi.
Yes, you can convert XRP to cash on the NeoFi platform. To do this, simply go to the trading page, choose Sell XRP, Enter the amount you want to see and click sell. The selling is instantaneous.
NeoFi allows you to earn free XRP (and other cryptocurrencies) by taking part in referrals. Simply, refer NeoFi to your friends, and you get their trading fee as XRP whenever they trade. Additionally, if your referral trades over a certain amount, you will receive an additional bonus.
Unlike other crypto exchanges, Neofi pools liquidity from leading crypto exchanges globally to enable users to trade in cryptos at the best rate. Additionally, NeoFi platform features 24/7 customer support, and robust security for your assets.