Adding a custom ringtone is still not possible with Windows Phone yet but Microsoft has released an app named as Insider which brings you 5 Ringtone which you can download on your phone every month and keep it forever. Apart from the ring tones, it also brings you free wallpapers featured on Bing Homepage everyday.
Features of Insider App
- It has Five sections : Tips, Apps, Games, Ringtones and Wallpapers.
- Tips links to Official Windows Phone Tips from the team where they tell you how to use your Windows Phone and certain features you might not be aware of. Includes Get Started and Pro Tips.
- Ringtones : There are 5 of these which are same but differ in Loudness, Pitch etc i.e. A rock version, a slow version and so on. Each of these can be saved on your phone and then set as ring tone right there.
- Bing Wallpapers with information of the photographer and option to download and use it.
- Feature section for Apps and Games.
In case ring tones are saved but not getting set as default ring tone, try to switch it from Settings > Ringtones and Sound. You will find all these ringtones downloaded under Custom Section.
Also make sure you have downloaded the ringtones before the month ends as they will be replaced by new ones every month.
Live Tile Settings :
This app also supports push notification if you enable the live tile settings. Meaning any time a new app, ringtone, wallpaper is available it can display it on the live tile making it easy for you to track. To use this you need to long tap on the app and then select pin to start.