WazirX is a legal cryptocurrency exchange in India, founded in 2017, and which allows users to invest in multiple cryptocurrencies by trading fiat currency. The company is based in Mumbai and is led by an experienced team that includes Nishal Shetty, Samir Mhatre and Siddharth Menon.
The company offers a system that allows users not only to trade digital assets, but also buy and sell cryptocurrencies such as Bitcoin, Bitcoin cash, Litecoin, Dash, and many others.
In 2019, WazirX was acquired by Binance, the world's largest cryptocurrency exchange. Millions of Binance users can now connect their Binance and WazirX accounts.
WazirX, is the best platform for new and advanced cryptocurrency traders who can use the STF function to start investing in Bitcoin.
WazirX has its own crypto asset - WazirX Coin (WRX). According to the statement of developers, it is noted that for a certain period of time will be created no more than 1 billion WRX coins.
At the same time, the cost, utility and liquidity of WRX is expected to increase substantially. It is a proprietary token developed by WazirX, similar to other cryptocurrencies such as Bitcoin.
- Exchange: WazirX Exchange is a spot market in which you can trade more than 70 cryptocurrencies. WazirX offers open order books, charts, transaction history, etc. in real time so you can trade and invest in some of the most efficient digital assets in the world.
- P2P (individual) market: WazirX offers a unique P2P platform that helps you buy USDT directly from any seller.
- STF (Smart Token Fund): STF helps new traders learn the art of trading. You can contact experienced cryptocurrency traders who will help you expand your crypto portfolio over time.
- Advanced Trading Tools: The WazirX Exchange combines all TradingView features and graphing tools that help traders and professionals analyze prices and historical data and establish trading strategies.
- Availability on all platforms: To access the WazirX platform, you need to download the app from Google Play Store or Apple Store, or log into your web platform. You can use the platform on smartphones (Android and iOS), Windows and Mac PCs, and laptops.
WazirX uses the manufacturer and recipient model to determine purchase and sell commissions. Depending on the type of order placed by the user, WazirX will determine the trade fee as follows:
- Commission 0.02% applies for limit and contingent orders (Taker)
- The 0.02% commission applies to market orders that are filled out (Maker)
The fee for the transfer of fiat currency to WazirX depends on the selected deposit method. If you choose to use UPI's quick deposit method, there is no deposit fee and processing takes about 15 minutes.
Users should keep in mind that the withdrawal of cryptocurrency from WazirX will be accompanied by a network fee, which is charged when withdrawing funds from the exchange. This fee is determined by the loading of the blockchain.
It can only be said about security that the exchange states that WazirX offers regular security audits to ensure reliable protection of the platform. There is no further information on security measures.
- To own your crypto assets, you need to manage your own private keys.
- Ledger hardware wallets make private key management easy and secure.
- Each unique 24-word recovery phrase creates a new set of private keys.
- Make sure you secure your 24-word recovery phrase properly.