About WazirX Exchange
After Unocoin, Zebpay, Koinex etc. exchanges in India, a new cryptocurrency exchange called “WazirX” launching in India. Now Buy, Sell & Trade digital assets like Bitcoin,Bitcoin Cash, Ethereum, Litecoin, Ripple etc. in India. WazirX offers a simple yet powerful interface with real-time open order books, charting, trade history, deposit & withdrawals so you can trade and invest in some of the world’s best performing digital assets. So in this article, we will discuss how you can buy and sell Cryptocurrencies on WazirX, What is WRX coin etc. coins? Here I have shared the complete information, after reading it you will find answers to all the questions.
WazirX is the start of a brand new journey for India. Wazir is the queen piece in chess. It’s the strongest piece and can play any move. With WazirX, Company want to provide you with the most powerful piece of cryptocurrency trading software you deserve! WazirX want to provide every Indian with a product that surpasses every other global product in terms of quality. WazirX want to make sure WazirX involve the community while building this product so that WazirX build it in the right way.
The WazirX executive team, as listed on the company’s website, are all co-founders of a social media management app known as Crowdfire, which was created in 2010. These three (Nischal Shetty, Sameer Mhatre, and Siddharth Menon) are the only individuals listed directly by the company. All three have programming backgrounds.
Other than that, there’s no concrete information about WazirX, save that it’s located in the Mumbai region of India. There’s also no specific documentation regarding how WazirX will function, either.
What are WRX coins?
Just like Bitcoin, WRX is a digital asset. There will be a maximum of 1 Billion WRX coins ever created and over a period of time, we expect the value, utility, and liquidity of WRX to increase substantially.
By owning WRX coins through the WazirX signup and referral reward program, you become one of the early holders of the coin and we expect you to reap benefits with the rising utility & demand of the coin.
How to Sign up for a WazirX Account?
- To sign up for an account, you have to visit Sign up Page
- Now click on the Sign-Up button at the top right of your screen.
- Enter your email ID & then set a password
- Agree “Terms & Condition” and hit the Sign up button
- Now check your mail for the verification link
- After email verification, you will be taken back to the website
- Enter Mobile Number & click on send verification code button
- You will receive an OTP via an SMS. Enter the OTP in the verification box and click verify.
- On the next step, you have to enter your details and upload KYC documents for verification
You have to provide your full name as it appears on your PAN Card and full address as it appears on your Aadhaar card
Enter your PAN Card number & Upload a scanned copy or photo of your PAN Card front side
Similarly, enter your Aadhaar Card number & Upload a scanned copy
Now hit the “Submit for verification” button
When the verification has been completed, you will receive an email from; it may take anywhere between 3 days to a week.
The WazirX WRX ICO Opportunity
In addition to being able to trade on an exchange located within India and marketed toward the needs of Indian residents, joining WazirX provides members with the opportunity to begin banking some WRX tokens before they come publicly available.
Also, WazirX is offering a simple referral program as well in an attempt to drum up widespread support for the new exchange. In addition to the initial 250 WRX, members can receive an extra 100 WRX for every new friend they bring aboard. There seems to be no stated limit on how many times a member can earn this recruitment bonus.
- Speedy Transactions: – WazirX is handling millions of transactions. The infrastructure of a system is scaled up in few seconds that match surging demand.
- Security: – The team is investing in regular security audits to ensure an immensely secured trading platform for India.
- KYC: – The KYC verification process will be completed in few hours as soon as the user signs ups. Further, the team claims few upcoming features to reduce verification time in future.
- Andriod & IOS Apps: – Beside web platform, WazirX will have Android and iOS mobile Apps.
- Team: – Moreover, the WazirX is built with a team of hardcore traders and passionate blockchain believers.
- Simple & Efficient Design: – WazirX has a simple and efficient design which allow users to trade on WazirX.
How To Deposit Money At WazirX & FAQ
Fast Deposit via UPI (Recommended)
WazirX strongly recommend that you deposit money via the UPI option as it is fast, free and you can deposit upto Rs 2 Lakhs. To add INR to your WazirX wallet via UPI, follow the steps below –
How to deposit INR to your WazirX account via UPI
Forgot to add your mobile number to your UPI Transaction?
The most common reason for UPI deposits not reflecting in your WazirX account is forgetting to add your WazirX mobile number in the description box of your UPI app when you make the UPI transaction.
If you forgot to add your WazirX mobile number to your UPI transaction, you will need to manually add the UPI Transaction/Reference ID to your WazirX account.
Where You Can find the UPI Transaction/Reference ID?
You will see the Transaction/Reference ID of your UPI transaction in 2 places –
- On the confirmation screen of your the UPI / Bank app after you have completed the UPI Transaction.
- On your bank statement after you have completed the UPI Transaction.
If you prefer to make a deposit via IMPS/NEFT/RTGS, please follow the steps below –
- Click on Funds in the top bar
- Under Indian Rupee, Click on the Deposit button
- Link your bank account by entering your Bank details from which you will deposit the funds. The name you enter MUST match the name on your WazirX account.
- Click on the IMPS/NEFT/RTGS
- Next, you will see the WazirX bank details. Follow the steps to deposit INR to the WazirX bank account via IMPS, NEFT or RTGS
- Do not forget this step – Come back to WazirX and click on the Add Transfer Details button
- Enter the Deposit Amount & Transaction ID and tap Proceed. This helps us track your deposit faster.
How much time will it take for Your deposit to reflect in WazirX?
UPI Deposits – Your account will be credited in 1 hour. Most deposits happen much earlier.
IMPS/NEFT/RTGS – At the moment, you should consider 24 working hours as the maximum time it will take for IMPS/NEFT/RTGS deposits to reflect. Most deposits happen in a much shorter time. Please try and avoid contacting the support team unless your deposit has not reflected for more than 48 hours.
Your INR deposit got rejected. What should You do?
If you made your INR deposit via IMPS/NEFT/RTGS, the most common reason for your deposits being rejected is the submission of an incorrect Transaction ID. If you have received an email from WazirX informing you that your INR deposit has been rejected – you will need to check your bank statement to find the correct Transaction/Reference ID and resubmit it through the Funds section in WazirX.
Once you have the correct Transaction/Reference ID from your bank, follow these steps to add the Transaction/Reference ID to your WazirX account again –
- Click on Funds in the top bar
- Under Indian Rupee, Click on the Deposit button
- Click on IMPS/NEFT/RTGS
- Click on the Add Transfer Details button.
- Enter the Deposit Amount & the correct Transaction ID and tap Proceed.
- Your deposit will reflect within a maximum of 24 working hours.
Can You deposit money from someone else’s bank account to my WazirX account?
No. The deposit MUST happen from the Bank account that you have linked to your WazirX account. The name on the Bank account that you link MUST match the name on your WazirX account.
Where can You get the Transaction/Reference ID from?
The transaction ID is provided by your bank when you complete the deposit payment or on your bank statement. Copy the Transaction/Reference ID and add it to the deposit form in WazirX. Read this article for exact details –
Is there a Deposit fee?
INR Deposit & Withdrawal Fees
- UPI – Free (You can deposit a minimum of Rs 1,000 & maximum of Rs 2,00,000)
- NEFT/IMPS – Free (Note – You can deposit a minimum of Rs 1,000. No maximum limits apply)
- Instant Withdrawal – Rs 30 per transaction (Minimum Rs 1,000 & Maximum Rs 50,000 per transaction. Max Rs 5,00,000 per day)
- Standard Withdrawal – Free (Note – Mimumum Rs 1,000 & Maximum of Rs 5,00,000 per transaction. No daily withdrawal limit)
Cryptocurrency Deposit & Withdrawal Fees
- Free – You can deposit any cryptocurrency to your WazirX account for Free.
- Bitcoin (BTC) – 0.001 BTC
- Litecoin (LTC) – 0.01 LTC
- Dash (DASH) – 0.001 DASH
- Ripple (XRP) – 0.02 XRP
- Bitcoin Cash (BCH) – 0.001 BCH
How are cryptocurrency withdrawal Fees deducted?
Say you want to withdraw 1 BTC from your WazirX wallet and move it to another wallet. A fee of 0.001 BTC will be deducted from the 1 BTC before the withdrawal is processed from WazirX. At the receiving wallet you will receive 1 BTC – 0.001 BTC = 0.999 BTC
What is the minimum cryptocurrency withdrawal limit?
By adding a minimum withdrawal limit for coins, we want to encourage traders to combine multiple small withdrawals into larger and fewer ones. This helps us efficiently process withdrawals faster, especially during high withdrawal sessions when too many small withdrawals can cause technical delays. The minimum withdrawal limits currently are –
What is the minimum trading (buy/sell) limit?
- Bitcoin (BTC) – 0.001 BTC
- Litecoin – 0.05 LTC
- Dash – 0.02 DASH
- Ripple (XRP) – 5 XRP
There is no maximum trading limit!
1. PHASE 1 (OVER)
- Earn 500 WRX on signing up.
- Exclusively for the first 10,000 traders. (Sign Up Now)
2. PHASE 2
- First 30,000 Traders – Earn 250 WRX coins when you sign up – Completed
- Next 30,000 Traders- Earn 100 WRX coins when you sign up – Active
- Earn 100 WRX coins for every friend you refer to WazirX – Active
- Your friend will earn 100 WRX coins too – Active
3. PHASE 3 (CURRENTLY ACTIVE)
- WazirX Bitcoin Exchange Launch.
- WRX tokens will be credited to you when you make your first Buy, Sell or Trade!
4. PHASE 4
- WRX Token Listing on WazirX.
- Trading of WRX Tokens starts.
WazirX Ending Facts
With this cryptocurrency exchange being the brainchild of the individuals behind the Crowdfire app and its stated goals of providing an easy entry for Indians to begin trading cryptocurrency, WazirX certainly has a lot of potential. The only thing we can truly complain about is that there’s no set timeline for when the platform will be up and running, as pre-registration runs for the next 30,000 new users and not for a specified time.
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