The easiest way to do is buy bitcoin from any Indian exchange and then transfer the same to binance.com(no KYC needed) once its there trade it with XRP and then to store it buy a ledger wallet nano-s (available in amazon india) and store it offline.
I am using Rippex.
It’s ripple’s own desktop based wallet.
why would one want to do this when you can directly buy XRP on coindelta or koinex ?
The method you suggested sounds sensible only if one needs to buy Altcoins not offered by Koinex or Coindelta merely because there is no other alternative other than doing this.
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Does it download the full block nodes like Etheruem Desktop wallet? That’s more than 100 GB download.
https://www.zerohedge.com/news/2018-01-04/anatomy-crypto-nightmare-ripple-ceo-now-richer-zuckerberg?
Lengthy read, but interesting. Throws light on some unknown insights like heavy cost of trading bitcoins, what traditional institutions can do in this space since this is unregulated.
IOTA Rose 464% In 2017, But Buyer Beware: Experts Have Major Security Concerns
Like Bitcoin, IOTA is a public ledger focused on moving information quickly and cheaply. It’s open-source, so anyone can see the code used to build it. But instead of using a blockchain, IOTA uses an alternative mathematical approach called a directed acyclic graph or “tangle.” According to the IOTA Foundation, a tangle can settle transactions more quickly than blockchains like Bitcoin by processing them “in parallel.” And transactions have no fees, although computational work is required to finalize them.
In September, a major security flaw was uncovered by MIT researchers (IOTA later fixed the flaw).
IOTA isn’t decentralized, even though IOTA makes that claim, because it has a central “coordinator node” that the network needs to operate. If a regulator or a hacker shut down the coordinator node, the network would go down
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I have been aware of bitcoin for quite a long time now, around five years or so. But I have never thought even in my wildest imagination that what I used to think to be a currency of the ‘underworld’ will have this much demand in the mainstream. I just wish I would have built more cognizance on the technology earlier and some foresight, then by now I would have been pretty rich!
I personally like the technologies and the ideas cryptocurrencies are built upon, though admittedly I still have a lot to learn. Now from an ‘investment’ perspective, I think (Bitcoin for example) their value are solely dependent on the notion of ‘supply and demand’, so their value is absolutely dependent on what people perceive their value to be at a certain point of time. I believe everyone here already knows that.
But what I found to be very interesting during my own analysis and attempt to understand crypto is that, there are so many things in the world that are same as cryptocurrencies in nature. Diamond for example, no intrinsic value, but still that rings still digs a pretty deep hole in our pockets, doesn’t it ? Same for Gold, but see how we love the shiny yellow metal so very much and it is one of the most favorite ‘investment’ of the average Indian household. So, the lack of intrinsic strength of crytpcurrencies shouldn’t be an issue.
As for utility and real life implications of these currencies, I learned that many leading companies such as Microsoft, Virgin Galactic and many others are already accepting it for transaction, I believe that number will increase as time passes. Also many leading international banks have already tied up with the crypto issuing companies and are in process to use their technologies in their own systems. So, the implications are there for us to see. However, the volatility is an issue which will continue for sometime I think and will be one of the major obstacle for it to become mainstream transactions.
To conclude, I think the future of cryptocurencies are bright but as always before putting your hard earned money in it, please do the due diligence on your part and dont just get swayed by some ‘expert’ advice.
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This one is funny, throws light on current state of crypto market.
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Several other companies in recent weeks have been rewarded with sharp rises in share price after announcing their transformation into cryptocurrency businesses.
Riot Blockchain (RIOT.O) shares have tripled since October when the former biotechnology firm changed its name and said it was revising its business focus to bitcoins.
Soft drinks maker Long Island Iced Tea has more than doubled since it said it was shifting its focus to blockchain technology and changing its name to Long Blockchain Corp (LBCC.O).
Also on Tuesday, Inpixon (INPX.O) surged 9 cents or 40 percent to 31 cents per share after the data analytics company announced it would adopt blockchain technology.
I won’t be surprised if there are many more such cases out there.
Bitcoin around USD 9700, again dropping for no reason just like it went up for no reason.
What happens to cryptos like bitcoin when
- Let’s say in future, crypto dollar comes along (since crypto ruble is anticipated to be used by putin).
- Fed starts reducing balance sheet, in other words taking back the printed money… I read some estimates saying that balance sheet could be shrinked to 2.5trillion dollars from 4.5 trillion gradually…
I meant crypto dollars having limited supply, because the whole point of adoption of bitcoins n other cryptos(for lawful purposes ) is the limited supply…
Sellers are switching out of digital gold and into the real thing.
Customers as young as 25 come in carrying laptops holding bitcoin they accumulated when it traded at $1 or below. One, Norman said, had 1,000 bitcoin he intends to turn into physical metal.