WazirX Review 2022: Is it Safe or A Scam?
WazirX is a well-known Indian crypto trading platform with user-friendly trading software packed with intriguing features. The user-friendly crypto trading platform provided by WazirX is equipped with advanced security protections.
Its popularity and widespread adoption have also been aided by its connection with Binance, the launch of WRX utility tokens, and the unique WazirX P2P trading platform. Nischal Shetty, Sameer Mhatre, and Siddharth Menon founded WazirX in March 2018.
WazirX accepts UPI, IMPS, NEFT, and RTGS deposits but not credit card payments. Every trade transaction on WazirX is subject to a 0.20 per cent taker fee and a 0.20 percent maker fee.
Crypto Trading in India- Is WazirX safe?
Before the RBI issued its “Statement on Developmental and Regulatory Policies” in 2018, crypto exchanges existed. Also, banks have been told to stop dealing with businesses that trade in virtual currencies, such as cryptocurrency.
With the latest Supreme Court decision in March 2020, more crypto exchanges like WazirX are likely to open in India. There is currently no regulation prohibiting individuals from investing in cryptocurrencies at their own risk. That is, as long as you pay taxes on your profits, you can invest in cryptocurrencies legally.
However, if WazirX is asked to cease operations, we anticipate Binance to look after our portfolio assets, which we can sell on the open market. WazirX is a cryptocurrency exchange with a lot more to offer.
The world’s first auto-matching P2P engine offers a unique solution to bridge the gap between the world currently run by fiat currency and the ever-evolving cryptocurrency with WazirX P2P. The WazirX token, often known as WRX coins, is the company’s native crypto asset. It was created to suitably compensate the WazirX community for their efforts in bringing it up.
WazirX Review- Features
There are many different features of WazirX, which can be beneficial for us. Here some of them are explained:
- Adaptable to a Variety of Platforms
The WazirX platform is available on the Web, Android, Apple iOS smartphones, Windows and Mac computers.
- A wide range of Cryptocurrency
You are able to trade in over 100+ cryptocurrencies with USDT. USDT is a Tether USD currency backed by US dollars in a 1:1 ratio.
- Speedy Transaction
Despite the platform’s ability to process millions of transactions without issue, WazirX platforms occasionally fail to respond during busy trading hours.
- Advanced Trading Tools are Available
WazirX was launched by a group of dedicated traders and blockchain experts. TradingView’s functionality and charting tools are integrated into the exchange.
What makes WazirX Popular
It is famous for crypto investments in India, much like Investby is for stock and forex investments.
WazirX has its token named WRX, which can be used to pay transaction fees (and save 50 percent on trading fees).
You can begin investing in cryptocurrencies by purchasing Bitcoins with Indian Rupees. The current price of bitcoin is INR 45,00,000. You may also purchase 0.0001 Bitcoin for Rs. 450.
- The user interface of WazirX is really simple to use.
- The deposit and withdrawal process is very easy.
- You can use your smartphone or the internet for crypto trading.
- Binance app integration for investing in worldwide currencies.
- Very low fees for trading and transfers.
How to Open WazirX Account?
Here we have step by step procedure explanation of account opening with WazirX:
Step 1: Log in to WazirX
To begin the free WazirX account opening procedure, you have to first log in to the site.
Step 2: Provide Details for opening WazirX Account
To begin creating your WazirX account, you must first submit your email address and set a strong password.
Step 3: Account Security setup with Email Verification
WazirX sends you an email to verify your account using the email address you entered. To proceed with account creation, simply click on the verification email you received.
Step 4: Select Country and Account type
You must choose your country in the final step. You can choose whether to open an account with or without KYC or without KYC. You can only deposit and trade with your WazirX account.
Trading Products and Cryptocurrencies on WazirX
WazirX has over 100 cryptocurrency trading pairs available. However, only eight currencies are linked with USD Tether on the P2P market (USDT).
- WRX Token: The WazirX ecosystem’s backbone is the WRX utility token. The total amount of coins available is limited to one billion.
- WRX Mining: Mining is possible for about 3.9 percent of coins. The WRX tokens can be mined, with 10% of them being burned every quarter according to the trade volume generated.
- STF: Smart Token Funds is a community-driven initiative that pairs newcomers with experienced crypto traders to assist them in expanding their portfolio in exchange for a 25% fee on the new traders’ profits.
WazirX Customer Support
Although there is no WazirX customer service number, traders can use the usual ticketing system to resolve issues. Emails can also be used to express concerns. A comprehensive collection of FAQs is also available on the website.
WazirX’s social media accounts can be found on Telegram, Twitter, Facebook, Instagram, LinkedIn, YouTube, and CoinMarketCap, among other platforms.
Conclusion
WazirX is a fast-growing trading and exchange platform from India with a reasonable order book of transactions, trading fees, and growing crypto trade volume, according to this review. WazirX is the best and largest cryptocurrency exchange, with over 2 million customers in just three years. Its goal is to create an exchange that will make it simple for the general public to participate in the digital currency revolution.
| Disclaimer : We are a participant in some of the Affiliate Associates Program and various other affiliates programs which are designed to provide a means for us to earn some commission by linking to their respective sites. When someone clicks on any link and purchase some product we get a little share of the sale which help us to provide you the free content.
