Wazirx, India’s only cryptocurrency exchange, allows Peer-to-Peer Crypto Transactions. Nischal Shetty and Sameer Mhatre founded this company. Siddharth Menon is also a co-founder. They all keep an eye on programming history. The platform was created by (Zanmai Labs Pvt Ltd.) and had its headquarters in Mumbai. Binance Holdings Limited has acquired the rights to this exchange, which is one of the most recognizable in the world.
If you want to invest in cryptocurrency in India but don’t know where to start, it’s worth learning the basics. This includes opening a trading account on India’s largest crypto exchange Wazirx. The exchange will have 2 million customers by the end of 2021. This was in 3 years. The number of Wazirx customers has been steadily increasing since then. Many people trade on this exchange, and they enjoy many exciting benefits. The benefits accrue over time. You will learn a lot from this article.
Why is Wazirx so popular in India?
Wazirx currently has around 1.5 million clients, and they trade via the exchange every day. In the coming days, there is a good chance that the active client count will increase. This exchange is very popular due to several reasons. You will find many more interesting details.
- Wazirx’s interface is super simple to use
- It is easy to deposit and withdraw money
- Mobile and web for crypto trading
- Integration with Binance App for Investment in Global Currency
- Transfer and trading fees are low
- Modal Payment
Every user must know the payment method. This is a key factor that must understand to enjoy the huge level of entertainment. The payment method is crucial because it will let you know how payments will be initiated on the platform. WazirX accepts UPI, IMPS, and RTGS deposits. Credit card deposits are not allowed. Wazirx charges a 0.2% taker fee and a 0.20 fee for each trade transaction.
How to Create a WazirX account?
Now let’s learn how to create an account with Wazirx. First, we want to let you know that creating an account with few details is easy.
- First, you need to visit the official Wazirx website and then click on the signup button
- You will be taken to a dashboard, where you can submit each requirement one by one.
- After you have submitted these details, you will receive an email confirmation.
- Once you are approved, you can set up your password and begin trading.
- You will need to link your bank account to your trading account.
- Once you do this, you can transfer your funds directly to your bank account. There are many other options.
How to complete your KYC on Wazirx?
After creating the Wazirx, you must complete the account verification. Next, you will be asked to choose your country of residence. WazirX currently only serves the Indian market. Its official currency is Indian Rupee. You can choose to skip KYC or continue with it. Without an approved KYC, however, withdrawals and peer-to-peer transactions cannot be made.
You will need to enter your name, address, and date of birth. In addition, a copy of your ID card (government-issued Aadhaar card and PAN card) is required. Finally, the app will allow you to take a photo of the document.
After the credentials have been uploaded, you will receive a confirmation from the exchange within the next few days. Once the credentials are uploaded, your account will be ready for your first transaction.
How to Buy Cryptocurrencies on Wazirx?
Wazirx is the easiest way to make your first choice from the crypto market. It is supported by Binance, the largest crypto exchange in the world. In that you can buy and sell tokens instantly, crypto exchanges are very similar to stock exchanges. Therefore, it is quite simple to buy cryptocurrencies on Wazirx; you have to take the steps mentioned below:
- Once you have your account set up, you can trade and invest in cryptocurrency.
- To instantly buy new coins such as Bitcoin and Ethereum, you can visit the “Quick Buy” menu.
- You can view the prices of various cryptocurrencies against different bases by clicking on the “Exchange” menu. You can also see the Indian rupee and the exchange rates for the USD dollar, Tether, a stable currency based on USD, and the exchange rates for WazirX’s token, the WRX.