How To Sell Crypto On WazirX?
WazirX is one of India’s premier crypto exchanges with over 2 million users. The crypto industry has boomed in India over the past years since the Supreme Court reversed the RBI’s ban on cryptocurrencies. Recently, a lot of newcomers have started dealing with cryptocurrencies through the WazrX app. Many new users are unsure of how to navigate the WazirX charts and how to buy/sell their cryptocurrencies. In this article, we’ll take a look at how to sell on WazirX.
What is the 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.
WazirX and Nischal Shetty, the pioneer of the #IndiaWantsCrypto movement, have a social media reach of more than 5 million.
Key Features of the WazirX
WazirX is a popular cryptocurrency exchange based in India. Some key features of WazirX are:
- Trading: WazirX allows users to trade in a wide variety of cryptocurrencies, including Bitcoin, Ethereum, Ripple, Litecoin, and more. Users can buy and sell these cryptocurrencies using Indian rupees (INR) or US dollars (USD).
- Mobile app: WazirX has a mobile app available for both Android and iOS devices. This app allows users to easily buy, sell, and trade cryptocurrencies on the go.
- Low fees: WazirX charges some of the lowest fees in the Indian cryptocurrency market, with a fee of just 0.2% for each transaction.
- Security: WazirX takes security very seriously and uses a variety of measures to keep user funds safe, including two-factor authentication, SSL encryption, and cold storage.
- Instant withdrawals and deposits: WazirX allows users to deposit and withdraw funds instantly, which can be a big advantage for traders who need to move quickly.
- P2P trading: WazirX also offers a P2P (peer-to-peer) trading feature that allows users to buy and sell cryptocurrencies directly with each other, without the need for an intermediary.
What is the legal recourse for WazirX?
The crypto-to-crypto trading and crypto deposits and withdrawals are directly owned by Binance and ED can get this information in the terms and conditions of the website.
WazirX has a legal document of acquisition and a license to operate the rupee market in India. WazirX can reproduce appropriate legal documents including KYC documents and details of the transactions to deny claims of illegal transactions,” said Kritika Seth, Founding Partner, Victoriam Legalis – Advocates & Solicitors.
How to sell Crypto on WazirX?
Once users have purchased a cryptocurrency on the WazirX exchange, there may be many reasons why they want to sell off their part of their portfolio, such as taking profits or selling to buy another crypto, etc. While the crypto selling process on WazirX is fairly simple, it can be confusing for newcomers who have never used crypto exchanges before. It should be noted that WazirX charges 0.2 percent fees on each transaction. Here are the steps on how to sell crypto on WazirX.
Selling Crypto on WazirX:
- Log in to your WazirX account using your email address and password.
- Navigate to the “Exchange” tab and select the cryptocurrency you want to sell.
- Enter the amount you want to sell and click “Sell.” The exchange will show you the current price of the cryptocurrency you’re selling and calculate the fees for the transaction.
- Review the transaction details, including the price and fees, before confirming the transaction. Once you confirm, the funds from your sale will now be available in your WazirX wallet.
How to withdraw money in WazirX?
- Step 1 – Open the WazirX app, and tap on the ‘Funds’ option.
- Step 2 – If you need to sell any of your coins, you can choose to sell them to convert your crypto into Rupees
- Step 3 – Your funds in rupees will be visible in the funds section. Click on the INR option and you will be able to see your account transactions, deposits, and withdrawals.
- Step 4 – At the bottom of the screen, you will be able to see two options, ‘Deposit’ and ‘Withdrawl’.
- Step 5 – Click on the withdrawal option, and you will be taken to a new screen, where you will be able to enter the amount you need to withdraw. Enter the amount and submit.
- Step 6 – You will receive an email, where you have to verify the withdrawal. Once you have verified, the funds will be reflected in your account shortly.