Here is everything you need to consider when investing in WazirX:
What Is WazirX Exchange?
WazirX is an Indian crypto exchange platform that allows users to trade crypto coins. This smart token fund (STF) is run by Nischal Shetty, Sameer Mhatre, and Siddharth Menon. You can begin trading with WazirX by completing a few straightforward steps. These include signing up with this crypto community, completing a KYU, depositing money into your account, and placing an order on this cryptocurrency to buy and sell.
WazirX is one of the largest cryptocurrency exchange platforms in India and allows you to use UPI when you deposit in your WazirX trading account. Thus, you don’t need to make a deposit using a bank transfer, IMPS, RTGS, or NEFT. Additionally, WazirX allows users to conduct these crypto exchanges through a P2P exchange. When doing this, no trading fee is applied while being equipped with Binance security features. This includes blockchain technology commonly associated with cryptocurrencies like Bitcoin.
Our Complete WazirX Review: Is It Safe to Invest in the WazirX Trading Platform?
After conducting this extensive WazirX review for 2021, we have found that the Indian WazirX crypto trading platform and WRX coins are legitimate and safe to invest in and trade. These WRX tokens are designed with the finance blockchain and are equipped with a maximum market supply of 2 billion WRX coins in India.
Additionally, these tokens have recently surpassed $1 billion in market cap. You can trade these coins on the WazirX platform and mobile app while also trading hundreds of other cryptocurrencies, like Binance, Dogecoin (DOGE), Litecoin (LTC), Ripple (XRP), Ethereal (ETH), and Bitcoin (BTC) available on the crypto market. When conducting trades with these various funds, you can sell and perform any exchange with a 24-hour trading volume.
What Are the WazirX Fees for Using this Crypto Exchange Platform?
The trading fees WazirX sets up are at a maker/taker fee of precisely 0.2 percent. These WazirX charges are associated with spot trading. However, there aren’t any fees for P2P exchanges while you’re required to pay 25 percent of your profit to skilled traders when utilizing STF trading.
Making an INR deposit through your bank account is going to result in a transaction fee of INR 6.7. Nonetheless, there isn’t any fee for depositing through UPI. WazirX withdrawal fees are subject to various factors.
Additionally, these withdrawal fees are known to be higher than when you withdraw from other exchanges like Bitbns and CoinDCX. Nonetheless, you can make this withdrawal in INR or a crypto asset and place it in your WazirX wallet with ease.
Which Is Better? Zebpay or WazirX
WazirX is believed to be better than Zebpay in India. This is because the BTC and INR withdrawal costs are lower and WazirX doesn’t require any membership fees to use this platform. It also makes trading easy with platforms on the web and mobile apps.
The customer support offered is unmatched while the WazirX trading fees are kept relatively low. Credit card deposits can easily be conducted on the site and the system offers industry average trading and security audits.