Wazirx Cryptocurrency Exchange Review : Pros & Cons

by Cws Team
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About Wazirx Exchange

Wazirx Exchange is a based in India. It allows users to buy, sell, and trade a variety of cryptocurrencies, including Bitcoin, Ethereum, and others. WazirX also provides features such as a trading platform, P2P trading, and token staking. The exchange is known for its user-friendly interface and commitment to security and compliance with Indian regulations.

Information Table

Exchange Name Wazirx
Exchange Service Spot and futures trading
Exchange Launch Year2018
Made InIndia
Mobile App Android & IOS
Fiat Option Available
KYCRequired
2FA SecurityAvailable
Minimum Deposit10 INR
Transactions FeesDepends on Club Level and Volume
Listed Cryptocurrency200+
SupportEmail & Live Chat Option Available
Official WebsiteClick Here To Visit

How To Register At Wazirx Exchange ?

To register on Wazirx , click Register Now button at the top of the page. You can also start creating an account directly through the form on the main page.

How To Register At Wazirx Exchange ?

You only need to enter your e-mail and come up with a password. If there is a referral code, it is also entered at this stage. Password requirements: at least 8 characters, numbers, upper and lower case.

Click ” Create Account ” then go to your email to verify it. Enter the code you received and registration is complete. You can start replenishing your account.

How To Verify Your Wazirx Account ?

There is no mandatory verification at Wazirx, but you can pass it if you wish. At the moment, the only restriction imposed on unverified users is the withdrawal Fee of 0.001 BTC per day. In the future, depending on the actions of regulatory authorities, conditions may change.

For verification, you can use one of four documents to choose from: passport, driver’s license, identity card or residence permit. Artificial intelligence is used to evaluate the authenticity of documents. This service is provided by the Onfido online identification service, already used by the Bitstamp, Revolut platforms.

How To Buy Crypto Or Deposit Crypto At Wazirx Crypto Exchange ?

There are two main options for topping up your balance on Wazirx Exchange. Firstly, you can buy cryptocurrency with a bank card – it’s fast and convenient. Go to the ” Buy crypto ” -> ” Buy crypto with a credit card ” section.

Choose a cryptocurrency (currently there are 13 coins available for purchase in this way). Enter the amount and select the fiat currency to be used for payment.

Agree to the terms and confirm the transition to the site of the payment provider. Enter information about the card and its owner, confirm the transaction. Cryptocurrency will be credited to the exchange account within a few minutes.

Second Method

You can transfer digital assets to the balance of the exchange from any external crypto wallet. For this:

  • Go to the “Deposit” section from the “Assets” menu.
  • From the drop-down list, you can select the cryptocurrency you want to deposit into your account.
  • The wallet address will appear. You need to copy it and send funds to it from another wallet or exchange. Please note that only bitcoin can be sent to bitcoin addresses, similarly with other coins.
  • You can also click “Show QR code” – for transfers from a mobile wallet, this is a more convenient option.

How To Withdraw Crypto Asset From Wazirx Exchange ?

Having completed all the necessary trading operations, it’s time to withdraw the received assets to an external wallet. Go to ” Assets ” -> ” Withdraw “. Please note that the operation is only available after enabling two-factor authentication in the settings. This is for added security and requires less than a minute, so don’t neglect this measure.

Select a cryptocurrency and enter the withdrawal amount. Each coin has its own withdrawal fee, for example, for BTC it is 0.00057 BTC. Click ” Output “. By default, the exchange processes applications three times a day, however, hourly withdrawals are available for Premium users. Also, the time of receipt of the cryptocurrency is affected by the workload of the blockchain network.

How To Secure Your Wazirx Account ?

Also remember to go to the Security tab and activate two-factor authentication using the Google Authenticator app.

Trading Fees

Many exchanges charge what they call taker fees, from the takers (people grabbing deals from the order book), and what they call maker fees, from the makers (people creating orders in the order book that are not immediately matched with a corresponding order). The main alternative to this is to simply charge “flat” fees. Flat fees mean that the exchange charges the taker and the maker the same fee.

WazirX charges a flat fee of 0.20% per trade. This is slightly below the global industry average, being 0.2294% for takers and 0.1854% for takers according to this empirical study.

MARKETMINIMUM ORDER SIZEBUYSELLSTATUS
MAKER FEE*TAKER FEE*MAKER FEE*TAKER FEE*
XRP/BTC0.0001 BTC0.2%0.2%0.2%0.2%Active
TRX/BTC0.0001 BTC0.2%0.2%0.2%0.2%Active
ETH/BTC0.0001 BTC0.2%0.2%0.2%0.2%Active
ZIL/BTC0.0001 BTC0.2%0.2%0.2%0.2%Active
BAT/BTC0.0001 BTC0.2%0.2%0.2%0.2%Active
LTC/BTC0.0001 BTC0.2%0.2%0.2%0.2%Active

WazirX Withdrawal Fees

What about withdrawal fees then? Withdrawal fees vary depending upon which crypto asset you are withdrawing, but they are normally a fixed amount of the relevant crypto asset and not percentage-based as the trading fees. The industry average BTC-withdrawal fee is 0.0004599 BTC according to the abovementioned empirical study. WazirX charges a withdrawal fee exactly in line with the global industry average, namely 0.0006 BTC per BTC withdrawal, so slightly above average on this. 

Features Of WazirX Crypto Exchange

WazirX Mobile Support

The WazirX Crypto Exchange platform is not only available for desktops, but also for Android and Apple mobile phones. Most traders in the crypto world today carry out their trades via desktop (around 70% or so). However, there are naturally people out there that want to do it from their smartphones as well. If you’re one of those people, then this platform can still be for you, seeing as it has a native mobile application.

Best In Class Security

We’ve left no stone unturned to make WazirX India’s most secure exchange. We’re investing in regular security audits to ensure a highly secured trading platform for India.

Super Fast KYC

Top of the line identity verification systems process your KYC within a few hours of signing up, while ensuring the right KYC protocol. We’re building in robustness to sharply reduce verification times.

LIGHTNING SPEED TRANSACTIONS

WazirX Crypto Exchange can handle Millions of transactions. The system infrastructure can scale up in a few seconds to match surging demand.

Available At Android & IOS Store

WazirX Exchange application available on both world famous mobile store google play store and iOS store . You Can download App and start trading .

Across 5 Platform

WazirX Review offers a seamless and powerful trading experience across all platforms – on Web, Android & iOS mobile, Windows, and Mac apps.

SIMPLE & EFFICIENT DESIGN

Trading on the WazirX platform is a super fast experience you’ll fall in love with! We’ve built technology used by Millions, and that experience has helped us build this powerful exchange.

BUILT BY BLOCKCHAIN BELIEVERS

We’re a team of hardcore traders & passionate blockchain believers. They understand exactly what you need. Powerful graphs, mobile apps, etc are features being built into WazirX from day 1.

Mind Blowing Design

They’ve done a great job with making the homepage easy to navigate. The only drawback is that, with the white background, it can be hard on your eyes. Other than that, you’ll find their charts and trade tools easy to use if you’re already familiar with WazirX.

Conclusion WazirX

WazirX is a cryptocurrency exchange based in India. It allows users to buy, sell, and trade a variety of cryptocurrencies, including Bitcoin, Ethereum, and others. WazirX also provides features such as a trading platform, P2P trading, and token staking. The exchange is known for its user-friendly interface and commitment to security and compliance with Indian regulations.

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