How To Buy io.net (IO) In India In 5 Easy Steps? [2024]

Investors continue to be captivated by cryptocurrency, with new and innovative projects emerging frequently. Digital assets such as IO.net (IO) have gained attention because they have the potential to revolutionize the decentralized internet. You’ll find five simple steps to walk you through the investment process if you’re in India and looking to invest in IO.

Understanding io.net (IO)

In order to understand why IO.net (IO) has gained popularity, it’s essential to know what it is and how it works. Internet connectivity and data privacy can be enhanced with io.net, a decentralized network protocol. Blockchain technology is aimed at enhancing safety, efficiency, and user-centricity of the internet infrastructure.

For transactions, stakes, governance, and staking within the io.net ecosystem, IO is the native cryptocurrency. Crypto enthusiasts have found it an attractive investment option due to its utility and growth potential.

Step 1: Choose a Reliable Cryptocurrency Exchange

You have to choose a reputable cryptocurrency exchange that supports IO.net trading before you can buy IO in India. To help you choose an exchange, here are a few key factors to consider:

Security: Encryption protocols, cold storage, and two-factor authentication (2FA) should be implemented to ensure the exchange’s security.
Regulation: Confirm that the exchange is licensed and complies with Indian regulations.
User Experience: Choose an exchange with an easy-to-use interface and an efficient customer support team.
Fees: Identify different exchanges’ transaction fees, deposit and withdrawal fees, and other charges.
Trading Volume: When trading volume is higher, there is more liquidity in the market, which makes it easier to buy and sell IO.

There are a few popular exchanges that support IO, including Binance, Coinbase, and WazirX. It is important to verify the availability of IO on these platforms before moving forward.

Recommended Exchanges for Buying IO in India

Binance: Known for its wide selection of cryptocurrencies and strong liquidity, Binance is a good place to buy IO.
Coinbase: Even though it is primarily a US-based exchange, Coinbase supports IO due to its user-friendly interface and security features.
WazirX: This Indian exchange supports various range of cryptocurrencies and offers a seamless user experience.

Step 2: Create and Verify Your Account

You need to create an account and verify it after you’ve chosen your exchange. To get started, follow these steps:

Sign Up

Get the app or visit the exchange’s website.
You will need to click the “Sign Up” or “Register” button.
Create a strong password using your email address.
Verify your captcha by agreeing to the terms and conditions.

Verify Your Email

If you haven’t received a verification link from the exchange, check your email inbox.
Thereafter, your account will be activated after you click on the verification link.

Complete KYC Verification

Users are required to complete a Know Your Customer (KYC) verification process in accordance with Indian regulations. Identification documents and other necessary information must be submitted. To get started, follow these steps:

To verify your KYC, log in to your account.
You must provide your personal information, such as your full name, birth date, and address.
Send us scanned copies of your Aadhar card, PAN card, and proof of your address (utility bill or bank statement).
In some exchanges, confirming your identity might require you to take a selfie or record a short video.

Enable Two-Factor Authentication (2FA)

Enable two-factor authentication (2FA) on your account for an added layer of security. You can receive OTPs via SMS or link your account to an authentication app (like Google Authenticator).

Step 3: Deposit Funds into Your Exchange Account

The next step is to deposit funds into your account after your account has been verified. Indian exchanges accept bank transfers, UPI, credit cards, and debit cards as payment methods. To deposit funds, follow these steps:

Link Your Bank Account

To view your funds or wallet, log in to your exchange account.
Select “Deposit” and select the fiat currency (INR).
The exchange will guide you through the process of linking your bank account.

Deposit INR

Then, enter the amount you would like to deposit into your bank account once it has been linked.
Afterward, you can select the method of payment you prefer (bank transfer, UPI, credit/debit card).
To complete the transaction, follow the instructions. You might need to wait a few minutes or a few hours for the funds to appear in your exchange wallet, depending on the payment method.

Confirm the Deposit

Initially, you will receive a confirmation email or notification from the exchange once the funds have been deposited.
Afterward, ensure that the funds have been credited correctly in your exchange wallet.

Step 4: Buy io.net (IO)

Now that you have funds in your exchange account, you can purchase IO. To make your purchase, follow these steps:

Navigate to the Trading Section

If you have an exchange account, go to the trading section, usually called “Trade,” “Markets,” or “Exchange.”
If IO/INR is not available, try the IO/BTC trading pair (or IO paired with another cryptocurrency such as BTC or USDT).

Choose the Type of Order

Exchanges typically offer several types of orders. Market orders are the easiest to place for beginners:

Market Order: In this order, IO is purchased at the current market price.
Limit Order: You can place a limit order if you want to buy IO at a specific price. You will only be able to execute the order if the market price reaches the price that you specified.

Enter the Purchase Details

Choose “Buy” and enter how much INR (or another currency) you wish to spend or how much IO you wish to purchase.
Fees and the total cost of the transaction should be reviewed.

Confirm the Purchase

To complete the transaction, click on “Buy IO” or “Confirm.”.
You will receive the IO tokens in your exchange wallet once your purchase has been confirmed.

Step 5: Secure Your IO Tokens

In the final step, you need to secure your IO tokens. Tokens on exchanges are convenient for trading, but long-term holding is safer with a private wallet. To secure your IO tokens, follow these steps:

Choose a Crypto Wallet

You can choose from several types of crypto wallets:

Hardware Wallets: Hardware devices that store your private keys offline (e.g., Ledger Nano S, Trezor).
Software Wallets: On- and offline wallets for storing private keys (e.g., Trust Wallet, MetaMask).
Paper Wallets: These are physical pieces of paper that contain your private keys and public addresses.

Transfer IO to Your Wallet

You can find your wallet’s public address by opening the “Receive” section.
Select “Withdraw” or “Send” from your exchange account.
You will be asked to enter the public address of your wallet and the amount of IO you wish to send.
Confirm the transaction by checking the address twice.

Verify the Transfer

When you initiate the transfer, the exchange will send you a confirmation email.
To ensure that you have received the IO tokens correctly, check your wallet.

So, that’s all we have for you about How To Buy io.net (IO) In India In 5 Easy Steps. It’s our hope that you find this guide helpful.

How To Buy io.net (IO) In India In 5 Easy Steps? [2024]

Understanding io.net (IO)