Wazirx is a crypto trading platform, founded by Nischal Shetty, Siddharth Menon, and Sameer Mhatre in 2018. It is considered a revolutionary platform that brings crypto evolution to India.Â
Wazirx also embarks on India’s engagement in digital assets by providing a secure and transparent platform with robust Know Your Customer (KYC) and Anti-Money Laundering (AML) platforms. It allows users to buy, sell, and trade various crypto assets like Bitcoin, Ether, Litecoin, and more
WazirX is the youngest and one of the fastest-growing cryptocurrency exchanges in India. It is India’s largest crypto exchange (by volume) and has over 15 million users. In 2023, it added around 600,000 new users who signed up on the exchange.
WazirX is on a mission to make crypto accessible to everyone in India.
WazirX is a pioneering platform catering to the needs of several users and is also distinguished from others by several striking features:Â
- Swift INR (fiat) deposit and withdrawal facilities: Permit hassle-free conversion between Indian rupees and cryptocurrency, thus allowing fast and convenient transactions.
- Smart token fund: Crypto Smart Token Fund tackles the issue of helping crypto investors pick the top traders and successfully manage their digital asset portfolio.
- Auto-matching P2P engine: Being the first to develop a technologically advanced, fully automatic P2P vehicle excelling in liquidity, the platform creates time and cost savings by automatically matching buyers and sellers with high efficiency and liquidity.
- Over 80 tokens are available: A wide spectrum of over 80 different cryptocurrency tokens is available for exchange among users. A large number of cryptocurrencies are available on the platform, including those with different investment objectives.
- Seamless Binance login integration: Seamlessly provides access to trading services via a Binance app instantly, which can be opened with just one tap using the existing Binance login details.
How to open a WazirX account?
At WazirX, the sign-up process is user-friendly and simple to get started. The signing-up process is done either through the WazirX main website or their mobile app downloaded from the Google Play Store or the Apple App Store. After enrollment, users have to pass through the KYC (Know Your Customer) procedure, which is a process that requires them to provide their identification documents to the official.
How to Deposit Funds into the WazirX account?
Before selling/buying any coins on WazirX, users need to deposit funds into their WazirX wallet. WazirX allows users to make INR (Indian Rupee) deposits, which can be made through the use of different methods like bank transfers, UPI (Unified Payment Interface), and other payment gateways.
How to Buy or Sell Bitcoin on WazirX?
When an account is funded, people will have to buy Bitcoin or any other cryptocurrency that is available on that platform. There are multiple ways to buy Bitcoin on WazirX:
- Using Fiat Currency: Investors can just as quickly buy Bitcoin with their INR by clicking on the Bitcoin/INR trading pair and bidding their price.
- P2P Trading: WazirX provides the interface for P2P (peer-to-peer) trade, which allows users to buy Bitcoin from other users by paying with fiat currencies. This technique offers flexibility and convenience, especially during the regulatory stringent jurisdiction of crypto exchanges.
- Selling Bitcoin on WazirX:Â Users can also sell their Bitcoin Holdings at any time on WazirX when they decide to. Through the Bitcoin/INR liquidity pair, users can place sell orders at the best available market rate and convert Bitcoin into INR or the supported fiat currencies.
Security Measures and Regulatory Compliance
The security of the funds of the customers and the personal information of the users is the top priority of WazirX. The platform ensures robust security practices by implementing 2FA authentication, cold storage for storing cryptocurrency, and regular security audits to mitigate the occurrence of hacking and unauthorized access.
WazirX is also in alignment with a range of regulatory standards and compliance guidelines that are set by the regulatory authorities of the various jurisdictions in which it operates. Hereby, an important aspect is emphasized – transparency and trustworthiness.
Conclusion
WazirX stands out as a brilliant lantern on a cryptocurrency exchange platform, proving to be a doorway to the best trading experience. With its user-friendly interface, the WazirX exchange offers a formidable assortment of cryptocurrencies, along with secure compliance, and security features that cater to new as well as advanced traders. WazirX gives you an easy-to-use and dependable platform that will get you through any dynamic situation in the cryptocurrency markets.
Also Read: Crypto Market in India: Key reasons for the decline and Foreign flight
