Buy ICON(ICX) Coin in India?—?Step by Step guide for beginners
Buy ICON(ICX) Coin in India?—?Step by Step guide for beginners
How to Buy ICON(ICX) coin in India?
What is an ICON (ICX) coin?
The ICX Coin, a cryptocurrency is built around the ICON network. It’s kind of like Ether for the Ethereum network, as several of the functions exerting place on the ICON cryptocurrency network must be paid for using the ICX currency. The ICON network has been in progress for 2 years. It was created by the Daily Financial Group.
The Daily Financial Group is a Korean firm that specialises in financial research and technology. If you’ve ever used the Coinone exchange, you might recognise the organization’s name. They actually own the Korean platform that enables users to buy and sell numerous cryptocurrencies.
Key features of ICON (ICX) Coin
- The idea after the ICON network is to hyperconnected the world. The Daily Financial Group is on a deputation to establish the largest decentralized network the earth has ever known.
- The team behind ICON is attempting to build a platform for users to communicate between different blockchains. This communication will be done using complex smart contracts.
- This interconnected network is dubbed the “ICON Republic” by its creators.
- ICON, it is hoped, will one day be a system that allows interaction between many diverse sectors of modern life. Insurance, healthcare, education, security, and finances are a few examples.
How to buy ICON (ICX) Coin?
You can buy ICON(ICX) Coin in India from several different exchanges but select the one from the most trusted firm i.e BuyUcoin. Each trade has perks and downsides, so study them all and determine which one is best for you!
Buy ICON (ICX) Coin in India?—?Step by Step Guide For Beginners
BuyUcoin is an exchange that provides buying and selling ICX coins in India as well as other cryptocurrencies. Below is a step by step guide to buying ICX Coin via BuyUcoin:
Step 1?—?Open a Digital Wallet
A digital wallet houses your cryptocurrencies and uses blockchain technology to communicate with other citizens. It is important to make in-depth research before you decide what one is best for you, however, there are several providers of digital wallets. Today, BuyUcoin’s the leading digital wallet provider.
Step 2?—?Register & Open an Account
When you enter the BuyUcoin/Signup account, register and open a service account. Choose your person or company form of account. Choose your country and adhere to the terms and conditions of your crypto-trading account.
Step 3-KYC
For the Indian jurisdiction, KYC and AML are compulsory. Your data are secure and encrypted and stored only in Indian data centres. To complete your KYC, you are redirected to another URL. With your last selfie, please be ready. Pictures of your pan card will be required. The mobile number connected to your Adhar is important.
Step 4-Google 2 step Verification
To use 2FA, the Authenticator app must be enabled on your smartphone or tablet. If enabled, any time you log in to your BuyUcoin account, you will be asked to include a 6- digit one-time password with your email and password. This only functions when an email and password are entered.
Step 5-Add Bank details
Add your name credentials, the account name of the holder and the IFSC code information.
Trade ICON(ICX) Coin
This blockchain integrates all of the minor blockchains that comprise the State. The ICON Community is the name given to these smaller blockchains. each of these distinct blockchains will have its own regulations. ICON has no control over how each community runs.
A Citizen Node is a device that allows frequent users to connect to the ICON network. These nodes can then communicate with the ICON ecosystem’s various decentralised applications.
Can I Use Regular Money to Buy ICON(ICX) Coin?
Yes, you can use regular money or any fiat currencies such as ICX-INR in India to buy ICX Coin where ICX Coin can be stored in your wallet with a single tap to buy or sell your desirable cryptocurrencies without any hidden transaction fees using one of India’s leading cryptocurrency exchange BuyUcoin.
Getting an ICON(ICX) Coin Wallet
If you want to buy ICX, an exchange called BuyUcoin is one choice. You may even buy ICX using your credit card through an easy-to-use interface. BuyUcoin demands your ID and address when you register. This complies with anti-money laundering (AML) legislation and is familiar with your customer’s legislation (KYC).
Many exchanges regard ID checks to be the ideal solution, despite the fact that they are technically not a legal requirement in most countries. It aids in the avoidance of the use of exchanges for illicit behaviour.
Conclusion
Looking at the ICX price projections that have been offered so far, one would believe that there is absolutely no news around the project. However, this is not the case at all! ICON has partnered with a social media application named LINE. LINE is currently the most comprehensive social media platform in Japan.
Buy ICON(ICX) Coin in India?—?Step by Step guide for beginners was originally published in BuyUcoin Talks on Medium, where people are continuing the conversation by highlighting and responding to this story.
Text source: BuyUcoin Talks - Medium
