WazirX Review 2021 – How to trade in WazirX

Cryptocurrency is one of the hottest topics in the financial world right now. Founded in 2018, WaziriX is an online platform where Indians can trade in cryptocurrency. It is one of the most popular cryptocurrency exchange platforms. It comes with user-friendly trading software packed with intriguing features. In this post, let us take a look at the WazirX review 2021.

WazirX is a well-known Indian crypto trading platform as per the WazirX trading review. 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.

If you have been thinking about buying Bitcoin or any other cryptocurrency, check out this WazirX review India blog. This blog provides a thorough WazirX app review, a guide on how to trade in WazirX, and other important aspects of the WazirX cryptocurrency exchange platform.

What is WazirX?

WazirX is a cryptocurrency exchange platform that allows you to trade a variety of cryptocurrencies and coins in your local currency. As per the WazirX app review, it is regarded as one of the most user-friendly platforms in India and around the world, with numerous competitors.

WazirX was founded in March 18 by Nischal Shetty and is one of India’s oldest crypto trading apps. WazirX platform is not only suitable for expert and seasoned traders but also for newbies who are testing the waters in the crypto market. It accepts UPI, IMPS, NEFT, and RTGS deposits, but not credit card payments. Every trading transaction on WazirX is subject to a 0.20 percent taker fee and a 0.20 percent maker fee.

Click here to Open FREE WazirX Account

Traders have flocked to the online trading platform, which has gained a lot of traction. However, many individuals are wondering if the WazirX review is secure in India. Don’t worry if you’ve been curious about it; this article will tell you everything you need to know.

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Features of WazirX 

1. Best in Class Security

One of WazirX’s key focuses is to ensure well-defined customer-centric security. Typically, the exchange accomplishes this by offering traders secure and safe crypto trading services. WazirX, in particular, appears to be investing in a larger landscape to ensure that the Indian crypto market is subjected to regular security checks. Furthermore, WazirX will be able to efficiently deliver and operate a highly secure digital asset trading platform in India as a result of this.

2. Super-Fast KYC

WazirX is extremely concerned about the Know-Your-Customer (KYC) rules. The exchange features a robust identity verification system that can quickly process users’ KYC levels. This occurs primarily during the registration procedure. The WazirX exchange’s engineers are working extremely hard to add more robust features. As a result, if this occurs, WazirX will do everything possible to reduce KYC verification time.

3. Transactions at Lightning Speed

WazirX can process a high number of on-chain transactions. Furthermore, the WazirX system infrastructure is capable of scaling up in the event of a significant rise in demand.

4. Across 5 Different Platforms

WazirX is cross-platform compatible. It solely relies on intuitive and expert trading skills. WazirX is available on the web, via Windows and Mac programs, as well as on Android and iOS mobile devices.

5. Design that is both simple and efficient

WazirX, on the other hand, is a lot speedier when it comes to trading. Millions of traders trust it as a trading technology because of this.

6. Designed by Blockchain Adherents

The WazirX exchange, in particular, surrounded by experienced traders and enthusiastic blockchain technologists. They hope to execute and increase trade through rich graphs and mobile apps using their blockchain-based knowledge.

7. Customer Support

Although there is no WazirX customer service number, traders can use the usual ticketing system to get answers to their questions. Emails can also be used to express concerns. A comprehensive collection of FAQs is also available on the website. Telegram, Twitter, Facebook, Instagram, LinkedIn, YouTube, and CoinMarketCap are just a few of WazirX’s social media channels.

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WazirX Exchange Review

The exchange platform features a very lively user interface and a strong social media presence, according to our evaluation. The way this Indian site has been presented is certain to appeal to the international crypto community, whether it be in BTC, Binance, or any other cryptocurrency. The backstory of the proprietary P2P mechanism detailed. The site focuses on peer-to-peer (P2P) exchange because it is the world’s first auto-matching system.

Above all, WazirX is one of India’s best cryptocurrency exchanges, accepting both cryptocurrencies and fiat money. The WazirX coin, a new cryptocurrency token, mentioned, as well as information regarding the site’s cookies, the collaboration with Binance’s fiat gateway, which allows trading in Indian rupee, and the WazirX app versions of the site.

Click here to start trading in Cryptocurrency

What is p2p in WazirX?

WazirX P2P enables you to purchase and sell USDT directly with other buyers and sellers, with the WazirX platform serving only as a matchmaker to connect you with the right buyer or seller at the right time. People to people is what the P2P acronym stands for. Consider it a bitcoin exchange version of Tinder. Depending on whether you want to purchase or sell, and whether the other user wants to buy or sell, you’ll be matched.

Except with Tinder, where the hope is for a long-term relationship, you can also choose to continue trading with favored buyers. According to our WazirX p2p review, this accomplished through the use of an identifier known as the XID, which is unique to each user. Like your email address or a username on an internet forum, for example. Only alphabets and digits allowed in your XID. It must be at least 4 characters long and no more than 15 characters long. For bitcoin trading, you can also share these with other crypto users.

The software then matches you with sellers or buyers who are looking to make a deal at that time once you decide and punch in the amount of USDT you want to trade. For example, if I wish to buy 15 USDT, WazirX P2P will look for and connect me with any sellers who might be willing to sell USDT at the time. WazirX holds the USDT in an escrow account for safekeeping at the time the exchange is agreed upon and begins, to prevent fake transactions or frauds.

The USDT released to the deserving receiver, in this case, the one who makes the payment to buy, once the transaction validated by both the seller and the buyer.

How to buy Bitcoin in WazirX?

Trading in Bitcoin on WazirX is simple and requires just a few clicks. If you have been thinking about purchasing Bitcoin, here is a step-by-step guide for you.

1. Download the app or visit the WazirX website to learn more.

2. To open an account and complete your KYC, fill in the required information.

3. This allows you to create an account and deposit funds in Indian rupees (rupees).

4. You can start buying cryptocurrencies from the “Exchange” page once you’ve added funds to your account. On the WazirX exchange, you can trade a wide variety of cryptocurrencies.

5. Choose the number of cryptos you wish to buy and press the ‘Buy’ button.

6. The coins can be examined after purchasing under the “Funds” option. You can buy with Indian Rupee (INR), Tether (USDT), WazirX token (WRX), and other currencies.

How to sell Bitcoin in WazirX?

After purchasing a cryptocurrency on the WazirX crypto exchange, users may wish to sell a portion of their portfolio for a variety of reasons, including profit, selling to acquire another cryptocurrency, and so on. While the coin selling process on WazirX is rather straightforward, newbies who have never used a crypto exchange before may find it difficult. WazirX imposes a fee of 0.2 percent on each transaction. Here are the procedures for selling cryptocurrency on WazirX.

1. Tap on the ‘Funds’ tab on the WazirX app.

2. You’ll find a list of coins you’ve acquired available under the money area, along with the currency you used to purchase them.

3. It should be emphasized that if consumers bought coins with WRX or BTC, they converted back into WRX or BTC when they sell them.

4. You select the crypto coin you want to sell in the fund’s section. Click the Buy/Sell button once the chart for that coin has loaded.

5. A new popup will appear, giving you the choice to buy or sell. By clicking on the sell button, you may select it.

6. You can choose the amount of cryptocurrency you want to sell as well as the price you want to sell it for under the sell option.

7. You can place your order once you’ve decided on your requirements. The order will be fulfilled as soon as the market price for that cryptocurrency equals the price you specified as the selling price.

8. You can withdraw INR from your bank account after selling a cryptocurrency for INR.

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Fees and Charges on WazirX

On a cryptocurrency exchange platform, each transaction backed by a small percentage of the network’s users. WazirX works on the same basis. WazirX takes a 0.2 percent commission on every transaction. This nominal charge is one of the lowest rates for commission on cryptocurrency trading. However, users should be aware that utilizing the app to deposit and withdraw money is costly.

Depositing money via bank transfer on WazirX costs Rs. 5.9. Similarly, the cost for money withdrawal from the app ranges between Rs. 5 and 10 depending on the method.

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Complete Wazirx Review India

WazirX became popular in India because of the following perks of the platform

1. WazirX’s super easy to use interface.

2. Easy to deposit and withdraw funds.

3. Mobile and Web for crypto trading.

4. Integration with Binance app for investment into global currencies.

5. Low trading and transfer fees.

6. WazirX is popular for crypto investments in India, similar to how Zerodha is popular for stock investments.

7. WazirX has its token, WRX, which can be used to pay transaction fees and save 50 percent on trading fees.

8. By purchasing Bitcoins with Indian Rupees, you can begin investing in cryptocurrencies. The current price of bitcoin is INR 45,00,000. Alternatively, you may buy 0.0001 Bitcoin for Rs.450.

Is WazirX legit and Safe?

WazirX is India’s fastest-growing cryptocurrency exchange, with over 900,000 users. By depositing INR via UPI or IMPS, anyone might acquire bitcoins or other cryptocurrencies. WazirX accepts deposits and withdrawals 24 hours a day, 7 days a week. In India, the cheapest withdrawal cost is nil. WazirX has the highest referral commission in India, at 50%.

WazirX’s sophisticated features include trading views, advanced chart trading, and stop-limit orders, to name a few. The WazirX review transaction procedure secured using Google Authenticator and Mobile OTP-based authentication.

WazirX keeps 95% of its funds offline, ensuring that they are protected from any hacking attempts. It is regarded as one of the most user-friendly platforms in India and around the world, with numerous competitors.

Click here to Open FREE WazirX Account

Final Thoughts on WazirX Review

After considering all of the positive and negative aspects of the WazirX exchange, we can confidently state in the WazirX review India that WazirX has a positive reputation in India. For traders, it provides over-the-counter (OTC) trading, margin trading, and derivatives trading. As per the WazirX exchange review, it is regarded as a highly recommended and essential crypto trading platform, not only for Indians but for the entire world.

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