When to buy ripple(XRP coin) in India?

Before proceeding to buy ripple in India, please check the price on the right handside which displays international price of ripple to Indian rupee. If the difference of ripple price in the exchange you are buying is Rs. 20 or less, then only go ahead and buy it. For example, if the price in international display is Rs.150, buy only if price is less than Rs. 170. Otherwise don't buy it; You will fall into the speculation trap.

Wait for the price to drop, don't hurry, especially in ripple. Today you see a price and tomorrow it will drop Rs. 20. So don't hurry and buy only if the difference in price is Rs. 20 or less.

In India, I would recommend Koinex to buy ripple because I myself have done so but if any other exchange offers ripple at lower price you can go for it.

Ripple and it's dramatic rise

Ripple also known as XRP coin is seeing a dramatic spike in price in last one month. Just look at the below trend captured for the month of december. It rose nearly ten times in Indian rupee. Similar is the global trend.

So what is ripple? Ripple is coin that enables faster settlement of international money transfers. You and me who have done international money transfers know that it takes 2-4 days using SWIFT etc., and till the money comes into bank account we are at the mercy of multiple intermediaries for transfer to take place smoothly. With ripple this is avoided where every transaction is recorded on block chain so that our money is safe and transfers happen in seconds. Isn't it cool?

But ripple coin is backed by a single company and they can pump the ripple in market any time to cool down the market. So not good for long term, but for short term if you can buy dips in the market you can be rewarded handsomely with this coin.

Lite coin and it's demise

I used to be an ardent admirer of lite coin. It is the oldest crypto in town after bitcoin, created some six years ago. It is stable throughout this time.

Charlie Lee is Litecoin founder and is backing it throughout this time.Litecoin is also more faster and efficient than bitcoin due to bigger blocksize.

All this went down the hill, when Charlie himself sold all his litecoins in mid-december, 2017. This happened exactly at the point of time, when lite coin's value is five times it's value over a week ago. Also, this is the point where lite coin would have grown another ten times. But, like a person who loses confidence in his investment he sold all this lite coins. If the person who founded the company itself solds and exits it how can anyone trust the company anymore.

He cited reasons like conflict of interest and all, but whatever he says the coin is poised for demise. Don't put your hard earned money in this coin.

Also, litecoin has no use like ether or ripple but is similar to bitcoin. But bitcoin, bitcoin cash, litecoin all are like gold but there can only be one gold. It is hard to guess which of these three or some other coin will be gold.

What is the best platform to invest in crypto currency in India?

Go with Koinex. It is the best platform to invest. I did investigation of all the bitcoin exchanges in India by creating signup accounts and Koinex is the best among them. Reasons are below:

1. You will be given a special account number to which you can confidently transfer money using imps when you want to invest. This is the biggest usp as you need not transfer to Koinex’s account but only your account designed for you. Transfer of money takes exactly 5 minutes to reflect. There is a minimum amount though which is Rs.2000 you have to transfer.
2. You won’t be charged any money for withdrawing and money directly withdraws to your bank account which you gave during account creation. And this happens instantly
3. KYC process is completely online and takes less than 24 hours to complete
4. I haven’t interacted with customer care, but from what I heard on other quora it is top notch
5. Bitcoin price you see in koinex is less than you see in zebpay or someother exchange. Atleast Rs.10000 difference you can see. Reason for this you can check in koinex site.
6. Koinex has other coins along with bitcoin like litecoin, ripple etc., Good way to diversify your investment.

Bitxoxo also has fast KYC process but their customer support is very bad. I transferred Rs.300 to their account not knowing minimum account is Rs.5000. After raising even 4 tickets they did not refund me the amount. I gave them screenshots, transaction ids everything. With Rs.300 only, they are insincere, consider how much sincere they will be with big amounts. Don’t invest with Bitxoxo.
Coin secure is good, but their tech is way old and KYC, money transfers, buying/selling take time to execute.
Unocoin and Zebpay are good tech wise, but prices of bitcoin are high in them.

Update(31 December, 2017): Due to surge in users, heard from my friends that KYC process of Koinex is taking 3-4 days, and withdrawals are delayed. But Koinex keeps the notices in top of their website whenever you open the website. Please read it before proceeding. Also, Bitcoin rates are fluctuating to be higher than Zebpay due to surge in users. Please exercise your judgement on buying bitcoin in Koinex on whether the price is less than other exchanges.