WazirX is the most popular and leading cryptocurrency exchange in India that permits its users to invest in cryptocurrency trading with fiat currencies. WazirX is based in Mumbai, and it is led by Nischal Shetty, Sameer Mhatre, and Siddharth Menon. WazirX is a peer-to-peer platform that helps users buy and sell USDT for fiat currencies from other buyers and sellers directly. The platform operates 24×7, and it is completely safe. In November 2019, WazirX was acquired by Binance, the global cryptocurrency exchange platform; this changed the cryptocurrency ecosystem of India.
WazirX is the most trusted and safest international cryptocurrency exchange operating in India. Here is how WazirX works –
One of the topmost priorities is to keep your funds safe in a cryptocurrency exchange. There are several recommendations given on the WazirX security page, like adding a strong login password and activating enhanced account security measures like SMS verification and Google Authenticator. These are the important recommendations that are given to all users of WazirX. It implements high-security measures on its site, withdrawals, and online wallets.
WazirX has a maker and taker model for evaluating buy and sell trading fees. Based on the order type placed by the users, the platform determines the trading fees that are applied in this way –
Wazir X deposit fees for transferring the fiat currencies into the WazirX account are based on the selected deposit option. If the user chooses to use the UPI method, there is no deposit charge, and it takes 15 minutes to process the transaction.
You should know that cryptocurrency withdrawals from the WazirX platform will be charged a network fee that is charged when the user intends to withdraw from the exchange. The withdrawal fees are determined by the blockchain load; also, you can check the WazirX withdrawal fees on its fees page for every cryptocurrency.
WazirX has several options for the users to buy Bitcoin and other currencies according to their budget. To start, you need an account with WazirX. Here are the steps to open an account –
To sum up our review, WazirX has made the process easier for Indians to buy and sell Bitcoins and other cryptocurrencies. Its platform is easy to use, and it offers peer-to-peer trading that makes it easy to buy, sell and trade Bitcoins for users through the local INR currency. In 2019, WazirX entered into a partnership with Binance, the world’s largest cryptocurrency exchange, and in the future, we hope to see more interesting features from the team at WazirX.
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