What is WazirX?
WazirX Review: Wazirx is an Indian-origin Crypto exchanger which is founded in 2018. In this platform, people can easily trade, buy or exchange their crypto coins like Bitcoin, Ethereum, Ripple, etc. Now Wazirx has been acquired by the world’s biggest cryptocurrency exchange Binance.
WazirX has been founded by Nischal Shetty in 2018. He was a software engineer and very passionate about cryptocurrencies. WazirX app was reinstated after a government-targeted regulation went public and caused a drop in heavy user activity.
WazirX was launched WRX Token in 2020 based on Ethereum Chain and Binance Chain. WazirX exchange was taken over by a well-known bitcoin exchanger Binance in 2021 April. WazirX has over 7.5 million users worldwide. In 2021 March WazirX has launched its Non-Fungible Tokens also known as NFT.
In November 2021, WazirX traded a record $ 38 billion in one year, and the same month the WazirX app saw heavy user activity and server crashes in the process of introducing a new cryptocurrency bill in Parliament to ban private crypto.
Importance of Wazirx exchange
WazirX Review: WazirX is a user-friendly platform where people can buy, sell and trade cryptocurrencies even they are new to this world. Because It is a crypto booming era and most people want to participate in crypto trading or want to buy crypto coins to become rich soon.
There are more than 1000 crypto exchanges available on the internet. But very few exchanges have been identified as user-friendly. And WazirX is one of them.
WazirX has provided the simplest trading interface and cash depositing facilities. Users can deposit amounts through various methods like UPI, Netbanking, Wallet, P2P. So people can easily deposit the money to WazirX and buy intended crypto coins.
Indian users can deposit INR on their WazirX account. Very few exchanges support INR deposits. Due to this reason, WazirX gained lots of popularity and usability in India. Since the government talking about the regulation on private crypto, these INR depositing feature has been removed from most of the exchanges instead of WazirX. Hence Indian users started to trust this exchange to do business in WazirX.
WazirX exchange also provides an easy withdrawal facility from their wallet to the bank. Users can withdrawal profit amounts or their funds from the wallet to their respective banks. Thus people do not bother about their investment. Once you give withdrawal INR from the wallet, it will be credited soon to the user’s bank account. That too within 5 minutes.
Can WazirX be trusted?
Wazirx Is the most trusted Cryptocurrency exchange in India. In the span of just three years a young engineer Nischal Shetty took the WazirX to the number one position among India’s crypto exchanges. WazirX is considered a highly secured trading platform in India.
Compare to other crypto exchanges, WazirX is the most user-friendly and reliable platform for investing in crypto coins. WazirX support system or customer support is so quick and most responsive. If the users face any kind of withdrawal problems or deposit issues, their customer support will help them at any time. In fact, WazirX has 24X7 customer support available.
If you go to their Help & Support section, you will find your query-related articles, where you can find solutions for any kind of withdrawal or deposit or buy/sell or trading issues. Refer to Frequent Asked Questions on their help and support section. In case you did not find a relevant answer over there you can go ahead of live customer support through chat. You can also get support through the mail.
Most of the time we Indians mainly face the INR deposit or withdrawal issues on maximum crypto exchanges due to some confusion about government regulations. But we rarely face this issue on WazirX. Because WazirX is mainly developed for Indian traders only. Users can deposit money through various platforms like Netbanking, NEFT, IMPS, Wallet, UPI, and P2P.
Can I withdraw money from WazirX?
Yes, you can withdraw your balance 24*7 easily. You can withdraw your amount from the exchange at any time. There are two types of withdrawals available on the exchange.
1. Instant Withdrawals
2. NEFT Withdrawals
Instant withdrawal: Instant withdrawals have a limit of minimum 1000Rs per transaction and a maximum you can do 5 lakh rupees withdrawals per transaction. All around in a day, you can do up to 1 crore you can take a withdrawal from the WazirX. There will be minimum charges applicable per transaction. The charges will be 10 Rupees per transaction you need to pay. These transactions will be processed instantly or hardly it takes 30 minutes to a few hours. But during bank holidays this might take time. So users should do the transaction only during bank working days.
NEFT Withdrawal Neft withdrawal has a limit of a minimum of 1000 Rs per transaction. and the maximum is 50 lakh rupees withdrawal you can do per transaction. And in a day you can do withdrawals of up to 1 crore rupees through Neft. The charges will be 5 Rupees per transaction including all takes. These transactions will be processed instantly or hardly it takes 30 minutes to a few hours. But during bank holidays this might take time. So users should do the transaction only during bank working days.
How much does WazirX charge per transaction?
WazirX has two types of withdrawal methods. The first one is Instant withdrawals and it has a minimum of 1000 rupees and a maximum of 5 lakh rupees withdrawals can be done per transaction. In a day you can withdraw up to 1 crore. In this method, you will be charged 10 rupees per transaction including all taxes.
The second one is NEFT withdrawals and it has a minimum of 1000 rupees and a maximum of 50 lakh rupees withdrawals can be done per transaction. In a day you can withdraw up to 1 crore. In this method, you will be charged 5 rupees per transaction including all taxes.
How do I log in to WazirX? How to download?
You can download the WazirX app from the google play store using the below download link. This link will be a referral link that gives you a sign-up bonus. and instant support from our end as well.
WazirX is actually the first exchange that automatically sets orders for peer-to-peer trades, simplifies the process, and makes it more seamless for its users. The referral code for WazirX is 57erdpmk. This code can be used by new users to get a better signup bonus on the WazirX.com crypto exchange or app.
In this article, we have tried to cover WazirX Review. We have included almost many points which have been asked about WazirX on google. If anything else you need information about WazirX you can comment below or send out an email with your queries. We will try to give you clear information about India’s top exchange WazirX.
Also Read: What is Bitcoin? How it can be created?
Q: What is the Wazirx referral code to download the app?
A: The WazirX referral code is 57erdpmk.
Q: What is WazirX NFT?
A: NFT stands for Non-Fungible Token. WazirX is one such platform that allows the mining of NFTs. However, as of now, artists and creators in India and other parts of Southeast Asia have an ‘invitation-only’ basis for mining at WazirX. Mining is done on the Binance blockchain, and the sale uses WazirX’s native token WRX on the platform.
Q: What does NFT stand for in crypto?
A: NFT stands for Non-Fungible Token.
Q: Is WazirX legal in India?
A: WazirX is founded in India by Nischal Shetty. And it is known as the safest trading platform for crypto investors in India for its amazing help support to the customers. In 2020 supreme court lifted the private crypto ban case, the most exchanges got in trouble. Even though crypto investment is more profitable, it is also a risk factor.
Q: What is the WazirX trading fee?
A: WazirX trading fees are 0.2%. It is very less compared to other major crypto exchanges.