WazirX Review: WazirX is a secure cryptocurrency exchange that allows you to buy, sell, and trade cryptocurrencies in India. It offers a secure and easy platform for you to exchange Bitcoin, Ethereum, Ripple, Litecoin, and more.
WazirX is a cryptocurrency exchange that has been growing in popularity among the Indian cryptocurrency community.
Bitcoin is one of the hottest investments in the world right now. The reason is that there will only ever be 21 million bitcoins, and as demand increases, so does its value.
If you haven’t signed up to WazirX yet, click here to open an account.
WazirX Features
Ultimate Security
WazirX is India’s most secure exchange.
With a combination of high-security standards and heavy-duty wallet infrastructure, WazirX has taken all the necessary measures to guarantee your funds are safe.
The exchange heavily invests in cutting-edge security architecture and regular audits by reputed firms. These 3rd party auditors will assure commercial holdings are secure from any breaches.
Quick KYC
When you open an account at WazirX, you will be able to trade bitcoins in a fast and simple way. This crypto exchange is designed to make it quick for you to start trading without much hassle.
The KYC process is instantaneous at WazirX. You only have to upload your documents once and WazirX does it all. They never store your documents or photos anywhere in their data centers and do not share your information with anyone else.
Simply upload the documents specified in their KYC, and their support staff will review your document and approve your KYC application within a day.
Scale of Transactions
WazirX is a cryptocurrency exchange with an institutional-grade matching engine, capable of processing millions of orders per second.
Their system infrastructure can scale up in a few seconds to match surging demand. It features the world’s most powerful crypto custody solution.
Availability Across Platforms
Today, people use whatever medium is available in their daily lives – be it on a PC, laptop, tablet, or mobile phone.
WazirX has been designed to be available across all these platforms and hence is an app-based exchange. They offer users a seamless trading experience across web, iOS, and Android apps.
Intuitive Design
WazirX has been built to be an intuitive and easy to use cryptocurrency exchange platform, keeping in mind the end-user.
Trading on the crypto exchange has been made as easy as possible for both experienced and novice traders. Intuitive designs and powerful features make it straightforward to trade, deposit, and withdraw in minutes.
WazirX Fees
WazirX Trading Fees
WazirX charges a flat fee of 0.2% on all buy/sell trades for all markets and never adds any hidden or surprise charges to your trade transfers in any form.
0.2% fee is the lowest possible category in crypto exchanges, making it one of the cheapest in the world.
Moreover, if you use WRX to pay fees, the fee will be just 0.1% for all trades.
WazirX Withdrawal Fees
Here is a list of the withdrawal fees for the most popular cryptocurrencies supported by WazirX:
| Coin | Withdrawal Fees |
|---|---|
| Bitcoin (BTC) | 0.0006 BTC |
| Ethereum (ETH) | 0.035 ETH |
| Litecoin (LTC) | 0.01 LTC |
| Ripple (XRP) | 0.25 XRP |
| Binance Coin (BNB) | 0.001 BNB |
WazirX P2P Fees
WazirX P2P charges absolutely no transaction fees for USDT/INR conversion.
Is WazirX legal in India?
When you start trading cryptocurrencies, regulation is one of the things that come up in your mind. That is why we are trying to answer a question that has been on our minds for a long time now: Is WazirX legal in India?
Absolutely! WazirX is legal in India. While the initial ban was certainly a setback for India’s crypto community, the crypto space did not stop booming in the country. The Supreme Court of India has lifted its ban on cryptocurrencies, effectively allowing Indians to now trade in Bitcoin, Ethereum, Ripple, and other cryptocurrencies.
How do I withdraw INR from WazirX?
- Create a WazirX account using your mobile number or email address.
- Set up 2 Factor Authentication (2FA) using Google Authenticator or SMS-based authentication for added security.
- Deposit funds into your account by transferring BTC from any Bitcoin wallet to your WazirX wallet address.
- Convert BTC to INR by trading on the exchange.
- Withdraw money by transferring INR from your WazirX wallet back to your bank account through Immediate Payment Service (IMPS) or NEFT.
WazirX P2P
WazirX P2P trading, as the name suggests, is a peer-to-peer (P2P) exchange in which you can buy and sell bitcoin directly from your bank account.
It’s the first of its kind in India to offer instant bank account-to-bank account transfer while providing 100 percent security using multi-signature technology.
The real kicker: there are no fees involved in P2P transactions.
WazirX STF
WazirX STF stands for Smart Token Fund (STF).
Cryptocurrencies are becoming increasingly popular around the world. It makes sense for people to start investing in this new asset class, but the problem with cryptocurrency trading is that it’s difficult to understand the strategies used by skilled traders.
For a beginner, crypto trading is like getting into a fist fight in a dark room. WazirX STF lets you pass your portfolio to an expert trader who uses their crypto trading tricks in the dark room for you!
Investors’ (your) money is put into skilled traders’ hands who will then use it to trade crypto.
Since the expert trader does all the heavy lifting, the fee charged is 25% of the profit.
Trading on WazirX
WRX Token
The WazirX ecosystem is supported by a native token, WRX. The WRX token is based on the Binance Blockchain and has a supply cap of 1 billion. If you use the WRX Token to trade on WazirX, you can get up to 50% reduced trading fees.
Binance Acquisition of WazirX
With the acquisition of WazirX, Binance extends its reach in Asia beyond China and Japan while also strengthening the use of its native Binance Coin (BNB) to unlock a new market in India.
By acquiring WazirX, a secure and advanced blockchain-based exchange, Binance aims to bridge the gap between fiat money and crypto-assets.
In addition, Binance launched fiat-to-crypto trading pairs for Indian users to directly buy and sell cryptocurrencies with INR. Binance is committed to building a healthy ecosystem for blockchain projects and their tokens in India.
This partnership can provide Indian blockchain projects greater access to a larger audience, expand reach, and make the crypto market more diversified and inclusive.
WazirX Referral Code
If you haven’t created a WazirX account, then go ahead and sign up now using the referral code – atjjujmn.
After you have signed up, you can share your unique invitation or referral code with your friends and family.
Conclusion: WazirX Review
WazirX is an excellent Indian Cryptocurrency Exchange to get started with crypto trading. They have been in business since 2018 and have built a strong reputation in the industry.
WazirX offers a large variety of trading pairs, offers instant deposits and withdrawals, has an easy to use interface, provides good customer service, high liquidity, and allows users to buy cryptocurrency with fiat currency.
We highly recommend you try it out by signing up here.
In the recent past, cryptocurrency gained much limelight all around the world. Bitcoin, being the king of all cryptocurrencies, made everyone go gaga over the new-age virtual money.
In India, crypto trading is not a new phenomenon that arrived just recently. It has been there in many ways for quite some time. But still, we are at a very nascent stage and have a long way to go before it can be declared as something mainstream.