What is WazirX And How Does It Work?

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What is WazirX And How Does It Work? : Today we will talk about wazirx, what is Wazirx, how it works, how to create an account in it and how to use it. How to do KYC verification in wazirx? on very important questions like these are the questions that everyone asks. In today’s digital world, the name of Cryptocurrency is being taken very fast.

The answer to all these questions has been given to you in a very simple form in this article. Along with this the screenshot is also shown. So that everything can be understood easily and there is no confusion. If there is any problem even after this, then you can tell us by commenting.

What is WazirX?

What is WazirX

WazirX is a new crypto currency exchange. And the special thing is that it is the largest cryptocurrency exchange in India. It allows Peer to Peer crypto transaction. That is, it allows trading in Bitcoin, Ethereum, Ripple, Tron, Litcoin and other cryptocurrencies. It is co-founded by Nischal Shetty, Sameer Mhatre and Siddharth Menon. Their head office is in Mumbai.

These three have been together for years and have gathered a lot of discussion by creating a social media management app named Crowdfire. Now he has appeared with a crypto currency exchange named WazirX and is working to take it forward across the world.

Who is the owner of Wazirx?

Wazirx has been acquired by binance some time back. So the owner of WazirX is Binance. According to LinkedIn, the founders of Wazirx are- Nischal Shetty and co-founders- Sameer Mhatre, and Siddarth Menon.

Key Features of WazirX

  • You can buy Bitcoin or any other cryptocurrency by depositing INR through UPI or IMPS in Wazirx Wallet.
  • It lets you deposit and withdraw INR 24/7.
  • Transfer funds between the Wazirx App and Binance Wallet at no charge.
  • It gives you facilities like Trading View, Advance Chart and Stop Limit orders.
  • It is the world’s first Auto-Maching P2P Exchange Platform.
  • It takes about 24 hours for any type of dispute to be resolved.
  • Due to Wazirx P2P feature, you can buy and sell any crypto currency.
  • Lowest Withdrawal Fee starting from Zero.
  • User Interface is simple and secure.
  • 50% Highest Referral Commission in India with no limit.
  • Facility to login through Binance.

Is WazirX App safe?

Yes WazirX App is absolutely safe platform. You can use this app without any worry. This app does not share your personal data in any way with any other platform or organization. In case of any kind of problem in WazirX, you can take help by calling or email.

Documents required to create an account on WazirX App

To create an account on WazirX App, you will need the following documents –

  • PAN card
  • Aadhar Card
  • bank account
  • a selfie

How to create an account on WazirX App?

After downloading WazirX App from Play Store, you have to follow the following steps to create an account-

  1. After installing the WazirX App application, open it, and click on the profile option at the top.
  2. If you already have an account on WazirX App, then click on login directly, if you are using WazirX App for the first time, then click on Sign Up.
  3. After this you have to enter your Email ID here and create a password and click on Sign Up.
  4. After this, a mail will come on the registered email ID, now you have to open the mail and click on the option of Verify Now, now your account will be verified here.
  5. Now in the next step, you have to click on Mobile SMS for account verification
  6. After this, you have to fill your mobile number here and click on the option of Send OTP.
  7. After this you have to complete your KYC here for which you will have to fill the following details
  • Your full name
  • Date of birth
  • Complete Address
  • State
  • City
  • Pin Code
  • Photo of pan card number of pan card
  • Aadhaar card number and photo of Aadhaar card (both front and back side)
  • A selfie

How long does it take for the verification process to complete?

Once you have submitted all the verification documents properly, your verification process will start at the end. This verification takes 24 to 48 hours to complete, if for some reason your account is not approved, you will still receive a mail with the reason for rejection, reading which you can apply for verification again.

How to add your bank account on WazirX App?

To add your bank account on WazirX App, you have to follow the following steps-

  1. First of all you have to click on the option of Profile, here you will see Banking And Payment Option, click on it.
  2. Now you have to click on Add A Payment Option.
  3. After this you have to fill some details like :- Alias, Account Number, IFSC Code, Account Type.
  4. Now you have to click on the option of Submit.
  5. After this an OTP will come on your mobile number, fill it and click on Authenticate.

How to Buy Crypto in WazirX App?

  • First of all login to WazirX account
  • After this, click on the Exchange option in the dashboard.
  • Select the one you want to buy.
  • After that click on Buy & Sell option.
  • Now enter the amount of crypto you want to buy.
  • Finally click on Buy option.
  • So in this way you can buy Crypto in WazirX App.

How to Sell Crypto in WazirX App?

  • To sell crypto on WazirX, first of all you have to login to your account.
    After this, click on the Fund tab at the bottom.
  • Now you have to click on the Market tab, here you will see the price of all cryptos in different currencies, select INR.
  • Now you have to click on the Buy & Sell tab and click on the Sell option.
  • After this, enter the amount of cryptocurrency you want to sell.
    Now confirm the sell.
  • As soon as a buyer buys your order, you will get the money in WazirX Wallet.
  • So in this way you can sell crypto on WazirX App.

How to withdraw money from Wazirx App Wallet?

  • Click on the ‘Fund’ tab at the bottom of the Wazirx App.
  • Click on the ‘Withdraw’ button in front of the asset from which you want to withdraw money.
  • In case of INR, you can choose between ‘Instant Withdraw’ and ‘NEFT Withdraw’.
  • In the case of cryptocurrency, you can send coins to your wallet’s address or scan a QR code to make a transfer.

How much are the Trading Charges or Fees on Wazirx?

You can transact only in USDT/INR P2P. Charges are 0% for Wazirx P2P transactions but there is a minimum sell or buy condition. The minimum price is 14.5 USDT and the maximum buy order is 2000 USDT.

Positive And Negative Point Of Wazirx

Positive Point Of Wazirx Negative Point Of Wazirx
It provides an excellent support system for exchange of money, security and adequate liquidity. Many times there is a delay in matching the given order, due to which the buyer and seller have to face some problems.
No rule of government is applicable on WazirX P2P exchange. In this, it takes 24 hours to solve any dispute, which is a lot of time.
In this you can easily Deposit and Withdraw in INR. Which is a great option for the user. In this, until the Buy order given by the user is not confirmed, the user cannot place any other order.

How to earn money from WazirX App?

Refer and Earn Program: You can also earn money by referring WazirX App. Here you have to share your referral link with your friends on social media, if your friend downloads WazirX App and signs up with your referral code, you will get up to 50% commission on each trade of your friend. Which comes in your WazirX account within 24 hours.

Trading: To earn money on WazirX App, trading in Cryptocurrency has to be done. In WazirX, you can earn good money by investing in Cryptocurrency like Bitcoin, Dogecoin, Ethereum. If you invest right in Cryptocurrency, then you can earn good profit here in a short time.

Why does WazirX P2P use USDT?

WazirX P2P uses USDT? So let us tell you that it is used to make transactions simple and high liquidity. Let us inform you that USDT is a stable coin.

This means that it is a cryptocurrency whose value remains mostly stable. The price fluctuation means that the fluctuations in the price are very less.

FAQs

What is WazirX?
WazirX is a new crypto currency exchange. And the special thing is that it is the largest cryptocurrency exchange in India.

Who is the founder of Wazirx?
The founder of Wazirx is Nishchel Shetty.

Is Wazirx App Legal in India?
Yes, Wazirx is completely legal in India. This has been confirmed by the Supreme Court itself.

Where is the headquarter of Wazirx?
The headquarter of Wazirx is located in Mumbai, Maharastra.

Conclusion

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