How To Buy Crypto On WazirX?
WazirX is India’s largest crypto exchange. Starting in 2018, WazirX has grown to be the most trusted exchange in the Indian crypto market. It is a part of Binance group, which is the world’s largest crypto exchange, serving users in 180 countries.
WazirX and Binance have recently announced a $50 million Blockchain India Fund in alignment with its vision of making crypto accessible to India.
With a volume of $5.4 billion per month, and growing at an exponential pace, WazirX is seeing a steep rise in the number of new users as well as trading activity. With 6 million registered users, WazirX’s growth has just started.
What is the WazirX?
WazirX is one of the fastest-growing cryptocurrency exchanges in India with more than 60 lakh registered users and an average app rating of more than 4 stars. Despite the launch of many new crypto exchanges and amidst all the controversies, WazirX still provides one of the best and widest ranges of offerings in terms of coins and tradable pairs such as USDT/INR, ETH/INR, and BTC/INR.
This platform is also known for its user-friendly interface and advanced trading charts and thus, it is preferred by both beginners and seasonal traders. WazirX runs a referral program, which can make the users earn rewards of up to 50% commission on every trade. If we talk about the safety and security features, WazirX tops the chart with gold-standard safety measures.
Key Features of the WazirX
- User-Friendly Trading Platform: WazirX is a user and beginner-friendly cryptocurrency exchange platform with high trading volume. The exchange has very smooth navigation features and is enabled with multilingual support. It seamlessly functions on all the app devices as well.
- Advanced Trading tools: WazirX offers advanced trading charts, powerful graphs, and various tools for spot trading to its users. It has also launched first-of-kind peer-to-peer transactions (P2P) which is the first-ever automated machine that auto-matches the buyer and seller instantly. Then, WazirX transfers the escrowed USDT to the buyer’s secure wallet and thus the whole transaction takes place.
- Transaction Speed: WazirX boasts of a strong and robust blockchain infrastructure, which is scalable and able to handle millions of transactions in just a frame of time.
- Security Features: The exchange follows a two-factor authentication (2FA), which further provides an extra layer of security to your account. It also has a multi-signature wallet system with strict KYC/AML guidelines. WazirX also stores 95% of the funds in cold storage.
- Trading and Investment Products: At present, the user can trade in more than 200 crypto coins and more than 250 cryptocurrency pairs. Some popular available coins include:
- Bitcoin (BTC)
- Ethereum (ETH)
- Litecoin (LTC)
- Cardano (ADA)
- Solana (SOL)
- USD Coin (USDC)
- Polkadot (DOT)
- Dogecoin (DOGE)
- Polygon (MATIC)
- Uniswap (UNI)
The exchange also has its own utility native token, WRX, which constitutes a very crucial part of the entire WazirX ecosystem. The maximum coin supply of WazirX is fixed at one billion. WRX can be purchased by using INR and can be exchanged for other cryptocurrencies such as Bitcoin, Ethereum, or Dogecoin. The token holders of WRX get various benefits such as discounts on trading fees, trade mining, token airdrop, margin fee, and more.
How Does It Work?
WazirX is a cryptocurrency exchange platform that enables users to buy, sell, and trade cryptocurrencies. It was founded in 2018 by Nischal Shetty, Sameer Mhatre, and Siddharth Menon. WazirX has grown rapidly in popularity and currently has more than 1 million users in India.
Here’s how it works:
- Registration: Users need to sign up for a WazirX account by providing basic information such as their name, email address, and mobile number. They are then required to complete the KYC (Know Your Customer) process, which involves submitting their identity and address proof.
- Deposit funds: Once the KYC process is complete, users can deposit funds into their WazirX account. They can do this by transferring funds from their bank account via NEFT/RTGS/IMPS or by using UPI.
- Trading: WazirX supports trading in more than 100 cryptocurrencies, including Bitcoin, Ethereum, Ripple, and Litecoin. Users can place buy or sell orders for these cryptocurrencies at the current market price or at a price of their choice.
- Withdrawal: Users can withdraw their cryptocurrencies or INR (Indian Rupees) from their WazirX account to their bank account. The withdrawal process usually takes 24-48 hours to complete.
WazirX also has a mobile app that is available on both Android and iOS platforms, making it easy for users to trade on the go. The platform has several security features, including two-factor authentication, email notifications, and withdrawal confirmation emails, to ensure the safety of users’ funds.
WazirX has also introduced a unique feature called “Smart Token Fund” that allows users to invest in a portfolio of cryptocurrencies managed by experts. Users can invest in the fund and let the experts manage their investments for a small fee.
How To Buy Crypto On WazirX?
WazirX is a cryptocurrency exchange platform that allows users to buy a variety of digital currencies. Here is a more detailed guide on how to buy and sell crypto on WazirX:
Buying Crypto on WazirX:
- First, create an account on WazirX by visiting their website and completing the registration process. You’ll need to provide your name, and email address, and create a strong password.
- After you’ve created an account, log in to your account using your email address and password.
- Next, you’ll need to deposit funds into your account. You can do this by clicking on the “Funds” tab on the top menu bar and selecting “Deposit.” Choose your preferred payment method, such as a bank transfer or debit card, and follow the instructions to deposit funds. You can also deposit cryptocurrency into your account.
- Once you’ve deposited funds, navigate to the “Exchange” tab and select the cryptocurrency you want to buy. WazirX offers a wide range of cryptocurrencies to choose from.
- Enter the amount you want to spend and click “Buy.” If you don’t have enough funds, you’ll need to deposit more before you can complete the transaction.
- Review the transaction details, including the price and fees, before confirming the transaction. Once you confirm, the cryptocurrency you purchased will now be available in your WazirX wallet.
Related More Posts :
3. About WazirX