Crypto Investing
5 Jan 2022

Learn How To Buy Cardano (ADA) in India with CoinSwitch

Devansh Sinhal

Cardano (ADA) is one of the top #10 cryptocurrencies by market capitalization. Known as the biggest Ethereum killer out there, Cardano aims to be much more scalable, immutable, and resourceful. It uses Proof-of-Stake consensus algorithms to verify transactions and hence, is environmentally friendly as well. 

If you’re an investor in the cryptocurrency market and are looking to diversify your portfolio, Cardano is a fantastic option. In this blog, we will learn about how you can buy Cardano at the best price in India with CoinSwitch.

How to Buy Cardano (ADA)

You can buy Cardano in India via CoinSwitch. CoinSwitch is the biggest cryptocurrency platform operating in India. The app is used by more than 14 million people in the country. Buying Cardano with CoinSwitch is really simple.

Key Takeaways

  • CoinSwitch Kuber allows you to buy, sell, trade, and hold Cardano in India
  • The platform enables investors to buy and store cryptocurrencies by using INR directly
  • CoinSwitch also has straightforward registration and KYC processes for new signups

Steps Involved in Buying Cardano (ADA) in India

how to buy cardano in india with coinswitch kuber

Here are the steps involved in buying Cardano (ADA) with CoinSwitch:

Step 1: Open CoinSwitch

The first step is to, of course, download the CoinSwitch Kuber app on your Android or iOS mobile phone. You could also visit our website and enter your phone number, and we’ll SMS you a link to the app!

open coinswitch

Step 2: Register and Open An Account

Once you have, you need to create an account on the app. Here are the steps that you need to follow:

  • Once the app has been successfully installed, you will be asked to enter your mobile number for OTP verification. After, you will be asked to set a PIN on the app for added security. We encourage you to use random numbers that are hard to guess to secure access to the app.
  • You’re in! After successfully setting your PIN up, you will be directed to the home page.

enter pin

For any queries, please feel free to contact our Support Team here.

Step 3: Complete Your KYC

At this juncture, you’re free to explore the app and get the hang of the features. However, if you want to start investing right away, you’re going to need to complete your KYC (Know Your Customer) process. This step has been mandated by the Government of India and is required to verify your identity with your bank and our servers. To complete this step, head on to the ‘Profile’ section of the app in the bottom right corner and click on ‘User Verification.’

complete your kyc

  • Enter your name, PAN number, date of birth, and your email address for primary verification of your identity. Once this is done, you will be asked to upload your PAN card’s picture along with a picture of a government-issued ID card to complete the verification.

For more details on registering for CoinSwitch and the entire KYC process, check out our YouTube guide.

Step 4: Complete Verification

It takes a moment for the app to register and verify everything, and once it’s done, you’re notified that your verification is complete. Voila! Now, you’re ready to start trading/investing in Cardano (ADA).

Step 5: Add Bank Details

To transfer funds from your bank account to the CoinSwitch app, you need to provide the app with the relevant details. These include your account number and IFSC code only. The app sends Rs. 1 to your account to verify if the details are correct and if they are, the account is linked to your profile.

Note: We encourage you to perform all transactions relating to your CoinSwitch account with your registered bank account only to avoid unnecessary mixups. If you want to change your bank account, go to the ‘Bank Details’ section under Profile and click ‘Edit.’

CoinSwitch Kuber is one of the only crypto exchanges in the country that seamlessly allows you to transfer funds to the app by Net Banking or UPI. For Net Banking:

  • Transfer money to the given bank account details on the app through your preferred transfer mode. The funds will reflect in your wallet as soon as we receive them. The process may take up to 48 hours to complete. Note: Please ONLY use your registered bank account to transfer funds through Net Banking. If you use an unregistered bank account, it may take us up to 7 days to refund your money back.

For UPI:

  • Enter the amount you want to transfer and your preferred UPI ID
  • CoinSwitch will send you a request on your UPI app
  • Once the transaction has gone through successfully, your wallet will reflect the funds within 10 minutes.

If you’re stuck in any part of the process, our Support Team will be very glad to help you out. Contact them here.

Step 6: Buying Cardano

You’re all set! To buy Cardano (ADA) or other cryptocurrencies, click on the Market option at the bottom of your screen and search for the coin you want to buy. Once you’ve found ADA, click on the coin and find the ‘Buy’ button on the bottom of the screen.

Enter the amount you want to purchase and ensure you have adequate funds added to your wallet. Once you’re all set, click confirm to buy ADA. Voila!

You can see your crypto assets under ‘Portfolio’ on the app itself, along with other helpful information like total amount invested, percentage gains/losses, all the coins you hold, and even their individual profits/gains.

Wrapping it up

Investing in Cardano can be an excellent option for investors looking to diversify their portfolios. Since Cardano (ADA) is one of the hottest cryptocurrencies that operate on the PoS model, it has a lot of future potential with respect to the scalability and efficiency of transactions. The network has dramatically increased its transaction speed and efficiency in recent months, allowing users to transfer more for less. With more adoption and R&D, Cardano has the potential to become an excellent alternative to Ethereum in both robustness and the implementation of smart contracts.

Frequently Asked Questions

Is Cardano legal in India?

Yes. There is no legislation in India that outlaws the sale, purchase, or possession of cryptocurrencies.

Where can I buy Cardano in India?

You can buy Cardano by using CoinSwitch in India.

How do I buy ADA with INR?

To buy ADA with INR, you can use CoinSwitch Kuber – India’s most comprehensive cryptocurrency platform.

How to sell Cardano in India?

If you have Cardano holdings, you can use CoinSwitch Kuber to get the best price for your coins in India.

Disclaimer : Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. The information provided in this post is not to be considered as investment/financial advice from CoinSwitch. Any action taken upon the information shall be at user's own risk.

writer

Devansh Sinhal

Content Writer

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