Q: Is WazirX safe?

We currently don’t label WazirX as a trusted exchange . However, this doesn't necessarily mean that it is unsafe. Make sure to check the exchange’s security practices and track record before you deposit any funds.

Question 1

Is WazirX safe?

Accepted Answer

We currently don’t label WazirX as a trusted exchange. However, this doesn't necessarily mean that it is unsafe. Make sure to check the exchange’s security practices and track record before you deposit any funds.

Question 2

How do you put money in WazirX?

Accepted Answer

You can fund your account on WazirX by depositing cryptocurrency.

Question 3

Can you deposit fiat on WazirX?

Accepted Answer

No, you can’t deposit fiat currency on WazirX. This means that WazirX is designed for users who already own some cryptocurrency.

Question 4

Can you buy crypto on WazirX with credit card?

Accepted Answer

Currently, you can’t buy crypto with a credit card on WazirX. If you're looking to buy cryptocurrency with a credit card, you can check out our list of the top exchanges that allow you to buy crypto with a credit card.

Question 5

Can I trade with USDT stablecoin on WazirX?

Accepted Answer

Yes, you can trade with the USDT stablecoin on WazirX across 206 trading pairs. In the last 24 hours, WazirX handled $ 346,276 worth of USDT trading volume.

Question 6

Does WazirX have a mobile app?

Accepted Answer

No, the WazirX exchange currently does not have an official mobile app.

Question 7

Is WazirX a centralized or decentralized exchange?

Accepted Answer

WazirX is a centralized cryptocurrency exchange. This means that WazirX manages users’ cryptocurrency deposits, and its systems handle the trades happening on the platform. Centralized cryptocurrency exchanges are suitable for all types of users, ranging from beginners to professional traders.

Question 8

How many cryptocurrencies can I trade on WazirX?

Accepted Answer

You can trade 210 tokens on WazirX across 303 trading pairs.In total, WazirX handled $ 718,306 worth of trades in the last 24 hours.

Question 9

What is WazirX?

Accepted Answer

This is one of the most popular India-based crypto trading platforms out right now. The project is aimed towards India’s crypto traders as it offers features that make it easy to use and they are catered based on the preferences of local traders. WazirX has become India's number one BTC exchange and the most trusted one as well. The project was launched in early 2018 and it allows users to buy, sell and trade a wide variety of supported cryptocurrencies. As mentioned above, the platform is designed in a way to attracts both new and more experienced crypto traders due to its easy-to-use interface. The goal of the project is to make cryptos more accessible to people in India, regardless of their economic status, which is backed up by over a million reported users. The platform also has its native token which is trading under the WRX tag. The token itself is based on the Binance blockchain and offers holders several incentives. Binance has acquired the project in late 2019 as well.

Question 10

How does WazirX work?

Accepted Answer

The platform serves as a middleman which also promotes peer-to-peer transactions. It matches the person looking to buy a token with one of the holders who are looking to sell. The transaction takes place in a P2P setting while WazirX keeps the tokens safe until all the conditions are met. After the fiat is being sent to the seller and he/she confirms the payment, only then will the platform release the tokens to the buyer. The platform also offers instant fiat deposit and withdrawal options. The Smart Token Fund feature is what allows the users to find the token seller to their liking. The buyer can choose the holder they want to buy from based on their performance, trading history, and many more. This way users can manage their portfolio with ease.

Question 11

How to use WazirX?

Accepted Answer

The features of the project are easily reachable through their official website. Other options would include downloading a mobile app that is available on both Google Play and the App Store. Whichever option you choose to go with, you will need to go through the signup process. After you complete the process, you will be able to take advantage of the features which the platform offers. However, note that the only way for you to fund your account to make purchases through the platform is via wire transfer deposit. After you have completed the funding part, you can use the P2P option to buy some digital assets. You will see several holders willing to sell the tokens they are holding and can choose the one you are most comfortable with. After obtaining the tokens, you can swap them on the platform for any of the supported cryptocurrencies with ease.

Question 12

What makes WazirX different?

Accepted Answer

The thing which separates this crypto exchange platform is the Smart Token Fund feature. WazirX is the first exchange to provide its users with this service, and as far as known, the only one to do so to date. This way the users can find the best seller to obtain the digital assets they are looking for in a safe, efficient, and simple manner. The platform allows you to buy USDT in a P2P transaction and it is the same process when you decide to cash out your cryptos through the exchange itself.

Question 13

Why are WRX tokens valuable?

Accepted Answer

The token is the backbone of the whole project as it has several use cases. Firstly, WRX tokens allow the holders to take advantage of discounts. As a holder, you are eligible for up to a 50% discount in trading fees when paying using the native token itself. So besides offering discounts, the token is also seen as the number one payment option for trading fees within the platform itself. There is also a margin fee that can be paid with these tokens. WRX token holders also hold governance rights as they can on several things associated with the way the project will be run in the future.

Question 14

Is WazirX a good investment?

Accepted Answer

The P2P model which WazirX uses is praised within the crypto community, and it has allowed it to draw in more traders. The platform can go through a large number of transactions per second as well, making it an effective option for trading. The future of the project is tied to their ability to add more crypto pairs to the platform and continue to add new features which will appeal to traders around the world. With all that being said, remember that the crypto world can be extremely volatile so it is no large surprise that experts are divided on the future of the platform. If you want to invest in WazirX, make sure you only invest an amount you are willing to risk.

Question 15

How do I get WRX tokens?

Accepted Answer

The tokens can be mined and earned through P2P traders promoted by the platform. However, you can buy WRX on any of the supported crypto exchange platforms of your choice. Some of them will require you to swap another crypto with better liquidity for them. However, with the Smart Token Fund feature, its native exchange might be the best option when buying these tokens. You can use a peer-to-peer exchange which doesn’t require a middleman as well. The only thing you would need to do is to locate a holder willing to sell WRX tokens and transfer an agreed amount in fiat currency to their bank account. Then they will send the tokens to your crypto wallet and everyone can go their separate ways.

Question 16

What is the current price of WRX tokens?

Accepted Answer

On {{current_date}}, the price of a WRX token is {{coin_price}}.

Question 17

How many WRX tokens are left?

Accepted Answer

There are currently {{coin_max_supply}} WRX tokens on the market, with {{coin_coin_remaining_supply}} tokens available.

Question 18

Are the WazirX transaction fees high?

Accepted Answer

The platform charges 0.2% percent on all transactions. This is on the lower side when it comes to other crypto exchanges. However, if you decide to trade WRX on any other supported platforms, you will run into both trading and withdrawal fees which tend to vary from one exchange platform to another.

Question 19

Are WRX tokens legal?

Accepted Answer

In the past several years we have all had a chance to witness the rise of cryptocurrency as it has drawn more and more traders to its community. It has come so far that some countries allow payments to be done with digital assets and some E-commerce platforms as well. However, this doesn't change the way that their legal status varies from one country to another. Click here to check the legality status of cryptocurrencies by country.

Question 20

Where can you store WRX tokens?

Accepted Answer

You can store your WRX tokens on any appropriate hardware or software wallet. Even though the software ones are cheaper, the hardware ones are safer, so keep that in mind as well. The exchange which you used to buy WRX tokens can be used as a storage option, but it is one which some traders tend to stay away from. This is because if you keep the tokens on the exchange itself, a third party would be in control of your tokens. If this is still your preferred option, know that the WazirX platform might be the best option in this case due to the incentives they offer. Also, it is important to know that some more experienced traders spread out their tokens to avoid risking them all if something goes awry with one of their storing options.

Question 21

How do you cash out WRX tokens?

Accepted Answer

The WazirX platform might be the best option for cashing out these tokens. Their P2P transaction feature makes it easy to cash out WRX tokens. You would simply swap them for USDT which then you would sell through the platform in a P2P manner. Any of the exchanges which support the token can be used as a cash-out option, but the process might be a little bit more complicated through them. A P2P transaction that doesn’t require a middleman is also an option as you can locate an individual willing to buy WRX by yourself. They would transfer an agreed amount in fiat currency to your bank account and you would send the tokens to their crypto wallet.

Question 22

Is WazirX safe?

Accepted Answer

The project is designed to allow for safe crypto transactions and as such has security measures in place at all times. Know that every feature of WazirX is used on a daily basis, including its native token, meaning they are safe enough in the eyes of the crypto community. Do keep in mind no crypto platform or network is completely secure. You should do some research on your own on WazirX before making your final decision if this is something you want to get yourself into or not.

Pair	Price	Change	Volume	Action
USDT / INR	98.68 / $ 1.03	0.08%	$ 142,014	Trade Now
BTC / INR	7.43M / $ 77,434	0.81%	$ 84,682	Trade Now
ETH / INR	238,211 / $ 2,482.92	0.92%	$ 53,114	Trade Now
TRX / INR	33.03 / $ 0.3443	0.75%	$ 47,851	Trade Now
SHIB / USDT	0.0₅4910 / $ 0.0₅4906	0.68%	$ 38,177	Trade Now
SHIB / INR	0.000495 / $ 0.0₅5159	0.77%	$ 35,660	Trade Now
XRP / INR	127.36 / $ 1.33	0.85%	$ 26,742	Trade Now
DOGE / USDT	0.078841 / $ 0.07878	0.95%	$ 24,584	Trade Now
ZEC / USDT	1,330.68 / $ 1,329.55	20.46%	$ 23,590	Trade Now
WRX / INR	2.05 / $ 0.02137	-6.30%	$ 21,993	Trade Now

24h Trading Volume	$ 718,306
Exchange Rank	#156
Cryptocurrencies Listed	210
Fiat Currencies	1
Stablecoins	4
Market Share	0.00%

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