In this review article, we will discuss India’s leading cryptocurrency exchange WazirX. The crypto exchange has over three million customers who trade using this platform. Based on WazirX’s founder Nischal Shetty, the platform took two years to grab two million customers, whereas it took only a month (April 2021) to add a 1 million user base.
This platform was established in 2018 and became popular among Indian customers because of its easy to use interface, fast fund withdrawal and deposits, and low-cost investment charges. WazirX also provides a mobile application to give single click crypto trading facility. So, read this article and get practical information about this platform.
About WazirX App
It is a well-known cryptocurrency exchange in India and offers simplified trading features to its users. This robust platform offers advanced features with incredible security integrations. Investors can also integrate this platform with Binance to get better productivity. Its WRX utility tokens offer a discounted price for trading charges.
Because of its prominent name and technology, this platform is not only suitable for beginners but also experienced traders. It allows UPI, RTGS, NEFT, and IMPS payment options so you can deposit or withdraw funds easily. Also, the charges for taker and maker are only 0.20% per transaction.
WazirX Features
- This cryptocurrency trading platform can be accessed using a website, mobile application, and desktop application.
- Whether you use an Apple or Android device, you can easily access its platform without any trouble.
- The site provides 100+ cryptocurrencies, and these are paired with USDT. Here Tether USD is backed with USD to ensure safe and efficient trading.
- WazirX can handle millions of transactions smoothly without any interruption. However, sometimes you can see a slight lag issue during peak hours.
- Top traders and expert blockchain professionals build this platform. And it also has advanced tools and integration options to facilitate better trading.
How does WazirX Function?
It’s a cryptocurrency exchange that allows users to sell or buy over 100 crypto coins. However, creating an account and completing the KYC process is also required. Once you complete your signup process, you can easily transfer funds and invest in various cryptocurrencies.
How to Sign Up for WazirX?
It’s easy to complete the WazirX app signup process. Look at the below-mentioned steps to complete the signup process and verify your account.
1. Visit the Website
When you visit the website of WazirX, you see a signup option. It’s free to signup with this platform, and you can add basic details to proceed.
2. Enter Details
After the steps mentioned earlier, you will find the option to add an email ID and set up a password. You can do the same and accept terms to complete the signup process.
3. Verify Email Account
It’s time to verify your email ID using the verification code sent by this platform. You can also verify your mobile number using the OTP feature. It will help you use your account easily from any device.
4. Select Country and Complete KYC
It’s the final step; here, you must select the country to open your account with this exchange. However, you will also be asked to enter KYC details to withdraw money and use the P2P network. So, if you are creating your account, you can also complete the KYC process in the beginning. It will save time later and help you deposit and withdraw money easily.
WazirX Charges
This platform has economical trading charges because it charges a 0.2% fee from buyer and seller on most cryptocurrencies. Also, you get a 50% discount if you use the WRX token to pay the trading fees.
Smart Tokens Fund (STF) charges 25% on net profit. Here the minimum buy size is 5 USDT, and the maximum is 1,00,000 USDT. The withdrawal charge on this platform is 0.0006 BTC, whereas it charges 0 BTC for deposits. WazirX has not yet mentioned the cancellation charges on its website.
WazirX Minimum and Maximum Deposits
The minimum deposit amount on WazirX is Rs 100, and this site has no specific maximum deposit limit. If you deposit Rs 100 initially, you can see many cryptocurrencies like TRON to invest in.
Binance Integration
Binance is the biggest crypto exchange platform that completes 2 billion daily trading activities. It performs over 14 lakh transactions every single second on its site. Whereas WazirX is an Indian crypto exchange company based in Mumbai, it was acquired by Binance in 2019. So, the company can get international investors for WazirX.
Hence, if you use WazirX, you can also use the features of Binance. It has advanced features, analytics, and cryptocurrencies to invest in. You can sell or buy coins on this platform using INR; you need to buy USDT and transfer it to your Binance wallet to invest in worldwide cryptocurrencies.
WazirX Pros
- WazirX app is the leading Indian crypto exchange, and Binance has acquired it.
- The platform facilitates a wide range of cryptocurrencies to invest in.
- Its easy-to-use interface and efficient features make trading easy.
- It does not require any custody of FIAT funds.
- You can use STF to build an impressive crypto portfolio.
WazirX Cons
- Somehow this platform needs to improve itself on the crypto lending feature.
- It’s a safe platform for crypto trading, but still, there might be some security issues.
Is WazirX App Safe for Trading?
The platform maintains a high-security level to ensure smooth trading for its users. It has high ratings for security features and secure financial transactions. The company has used encryption and conducted security audits regularly to keep the platform secure. Its mobile app is also secured and has the verification shield from Google Authenticator.
Conclusion
WazirX is a leading cryptocurrency trading platform that is safe and convenient for users. Whether you use Android, Apple, or Windows devices, you can use this platform and execute further trading. There are 100 plus coins that you can choose from to invest in and grow your portfolio.
Thus, we hope now you have some clear knowledge about this leading trading platform. Please feel free to share and comment if you find it helpful and informative. You can also check other review articles for the most practical insights.