Friday, December 9, 2022

Largest Indian Cryptocurrency Exchange Zebpay Adds Ripple XRP Support

Largest Indian Cryptocurrency Exchange Zebpay Adds Ripple XRP Support

On February 9th 2018 Zebpay, India’s leading cryptocurrency exchange, added Ripple’s XRP token to its trading platform. With this announcement, more than 3 million Zebpay users will now be able to buy and sell XRP on the app.

Also read: Forbes Publishes List of ‘Richest People in Crypto’… That We Know Of

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The exchange made an official announcement on their social platform and a detailed blog post on their portal. After recently appending two other major cryptocurrencies, Bitcoin Cash and Litecoin, the company has made Ripple trading available for Indian users.

India’s most popular mobile-based cryptocurrency exchange was the talk of the town on the day Indian Finance Minister Arun Jaitley announced national budget 2018. Due to FUD (Fear Uncertainty, and Doubt) spread among the Indian users and misinterpreted news by Indian media, the bitcoin price slipped down to $4,000 for a couple of minutes.

A tweet was made from Zebpay’s official account “Introducing Ripple (XRP). You can now buy, sell and trade Ripple from your account.”

Ripple’s XRP – Cheap Yet Valuable Token

With the growing demand of XRP tokens in India, Zebpay has added the new coin in their crypto trading app in a short time. Many Indian investors are diverting towards investing in Ripple XRP rather bitcoin, as it is the cheapest token right now yet still valuable.

Ripple has its share of investors and enthusiasts. At press time, with a global market cap of more than $40 billion USD (source: CoinMarketCap), It persists in the third position among all crypto tokens.

Ripple came into the mainstream limelight early in 2018 as the price surged, and many international banks started trialing aspects of Ripple’s technology in their settlement protocols. 2017 was also a good year for Ripple, as it gained a lot of positive news stories as Bank of Abu Dhabi, Moneygram and several Indian and Japanese banks applying Ripple technology for cross-country transactions.

Importance of Zebpay and India

According to a report Zebpay, India’s most widely used cryptocurrency app, serves more than 3 million users with that figure expected to increase in future. However, it faces strong competition from other platforms on the country, including Koinex.

A recent survey acknowledged that, as of 2017, India accounts for 10 percent of all cryptocurrency transactions around the globe. Despite the fact, the Indian government has not cleared its stands on the trading of virtual coins, users have started trading XRP on the Zebpay.

Zebpay has already added Bitcoin Cash, Litecoin and Ripple to their trading platform? Can you name a major coin missing in the list? 

Images via Zebpay, Ripple

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