WazirX: Best App for Cryptocurrency Trading In India 2022

WazirX: best Cryptocurrency exchange in India 2021

WazirX is India s most trusted Bitcoin and best cryptocurrency exchange trading platform Buy, Sell Trade BTC, XRP, ETH, TRX, and 100 cryptocurrencies in India at the best prices. There are many other crypto exchange platforms like Binance, Coinswitch, CoinDCX, Zebpay, Coinbase, and more are available in India but, Wazirx is the best cryptocurrency exchange in India 2022.

What is WazirX App? 

WazirX is one of the best cryptocurrency exchange platforms. Basically, a crypto exchange is an app/ website where you can trade various cryptocurrencies and coins using your national currency. Users can deposit money into exchanges and buy cryptocurrencies with that money.

WazirX works on the same platform, to send money to the app, using a bank transfer. The money is added to your WazirX wallet, which can be used to buy various cryptocurrencies. It must be noted that users will have to finish their KYC process before they can effectively start trading crypto.

Founded by Nischal Shetty, WazirX is one of the oldest crypto trading apps and was started on March 18. Just after WazirX was launched, the Indian Government banned crypto trading in India. So then, WazirX started the Peer to Peer trading popularly known as P2P trading where people could exchange crypto with each other without the use of money.

This kept the platform alive till 2021 when the Supreme court legalized cryptocurrencies in India again. Since then, WazirX has become one of India’s biggest and most popular crypto exchanges and has a major role in making crypto trading accessible to the Indian public.

WazirX is the most popular trading app among Indian investors. You can invest in a wide range of coins using INR, USDT, BTC, and even P2P.

READ | What is cryptocurrency and how does it work?

They let you know about various contests through the info page. You can also invite and earn through the settings page.
WazirX also has its coin known as WRX, and you can use INR to buy WRX and then use WRX to invest in many other crypto assets.

timeline


Security:

WazirX stores almost all of your assets in cold storage and keeps only a small fraction in Hot wallets.
You can increase your security by activating Two-factor authentication and App Passcode from the settings. They also give notification on the execution of every buy or sell trade.

crypto chart


WazirX Fee:

Any crypto exchange platform works by charging a small percentage of its users on every trade. WazirX works on a similar basis. WazirX charges 0.2 percent as commission on every transaction. The 0.2 percent rate is one of the lowest crypto exchange commission rates in the world.

However, users should note that depositing and withdrawing money into the app can cost them money. Depositing money via bank transfer will cost Rs. 5.9 whereas withdrawing money from the app costs anywhere between Rs. 5 to 10 depending on the method of withdrawal used. While cryptocurrencies can be lucrative, readers are advised to do thorough research before investing in any cryptocurrency. Stay tuned for more news on crypto and technology.


WazirX payment method:

To deposit in your WazirX wallet, you can use NEFT, RTGS, and IMPS with a transaction fee of INR 5.9. You can also use UPI with almost zero transaction fees. The minimum deposit amount is INR 100.

payment method

You can make an instant withdrawal with a fee of 10 INR and a limit of 2 lakhs per transaction for withdrawal. You can also use NEFT with a fee of 5 INR and a limit of 10 lakhs per transaction.


WazirX — Pros and cons:

pros and cons


How To Open a Crypto Trading Account on WazirX?

At WazirX we offer a plethora of options for you to buy bitcoin or any other cryptocurrency according to your budget.

To start, you need to set up an account on WazirX. Follow the below steps for the same:

  • Click this link to Signup WazirX: https://wazirx.com/invite/kc55ban8 to download the WazirX app or visit the website.
  • (You can also use the Code: kc55ban8)
  • Fill in your email address (one that you use frequently), and your desired password
  • Click on the Terms of Service checkbox, but go through it once before checking
WazirX-Signup
  • Then press the Sign Up button
  • You will be sent a verification email after hitting the sign-up button. If you have received it, click on Verify Email to complete the process. If you haven’t, check your spam folder. Or hit Resend Here. On successful verification, you should see this message:
WazirX-Signup-Process


Securing Your Account

For security purposes, we highly recommend enabling 2-factor authentication (2FA). You can do so by downloading the Google Authenticator app and connecting it to your account.

WazirX Signup Process


KYC Verification

The last stage in the account setup process is KYC verificationSelect your country from the list:

WazirX Signup KYC Verification

Then verify your KYC and finish the process. After that, you are all set to buy XRP from WazirX!


How to Withdraw Money in WazirX? Is WazirX Safe?

WazirX is one of the safest and best cryptocurrency exchanges in India, and has the highest number of users, as compared to other crypto exchanges. The WazirX withdrawal process is quite easy. However, users should note that they need to have their bank account registered along with the KYC process completed before they can withdraw funds from the WazirX exchange. Here is the step-by-step process to withdraw money from 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 fund’s 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.

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