What is WazirX?
WazirX is a cryptocurrency exchange that will enable you to Buy, Sell & Trade digital assets like Bitcoin, Ethereum, Litecoin, Ripple etc in India. It offers a simple yet powerful interface with real-time open order books, charting, trade history, deposit & withdrawals so you can trade and invest in some of the world’s best performing digital assets.
What are WRX coins?
Just like Bitcoin, WRX is a digital asset. There will be a maximum of 1 Billion WRX coins ever created and over a period of time, we expect the value, utility, and liquidity of WRX to increase substantially.
By owning WRX coins through the WazirX signup and referral reward program, you become one of the early holders of the coin and we expect you to reap benefits with the rising utility & demand of the coin.
About WazirX
WazirX (WRX) is a cryptocurrency token and operates on the Binance Coin platform. WazirX has a current supply of 1,000,000,000 with 107,404,950.01 in circulation.
General Info
WazirX is an Indian crypto exchange, launched on 8 March 2018. It is run by Nischal Schetty, Sameer Mhatre and Siddharth Menon.
On 21 November 2019, WazirX announced in an email to its users that it had been acquired by Binance. This made WazirX the first Indian crypto trading platform to ever be acquired by an international trading platform, further erasing national boundaries between players in the crypto world.
There are a large number of crypto exchanges based in India. In addition to this exchange, you also have Unocoin and ZebPay, to name a few. Most of them only offer trading in BTC however. The only Indian crypto exchanges with more than a dozen different cryptocurrencies traded are WazirX and ZebPay.
In an email sent out to traders on 27 March 2019, WazirX happily informed that it is now open to investors from all over the world. In the same email, they also informed us that if you sign up and trade on WazirX now, you will receive “100+ WRX Coins” (unclear whether that is 101 WRX Coins or slightly more). As always though, US-investors should do their own independent assessment of any problems arising from their residency or citizenship.
WazirX Fees
WazirX Trading fees
This trading platform charges 0.25% if you’re a taker.
The exchange charges 0.10% if you’re a maker. This means a 0.15% discount compared to the exchange’s taker fees.
WazirX Withdrawal fees
WazirX charges a withdrawal fee amounting to 0.0005 BTC when you withdraw BTC. This fee is below the global industry average and thus constitutes a competitive advantage against the majority of other top crypto exchanges in the market. The global industry average is 0.000812 BTC per BTC-withdrawal, so WazirX is roughly 40% lower than that.
Deposit Methods
When it comes to deposit methods, WazirX allows wire transfer deposits but not credit card deposits.
On 6 June 2019, WazirX also announced that it had entered into an agreement with a Payment Service Provider making it possible for Indonesian investors to deposit Indonesian Rupiah directly into the trading platform.
WazirX P2P
Binance Integrate WazirX’s P2P Trading Platform
Binance integrated WazirX’s P2P trading platform into its system on 2020/02/13.
Through this integration:
- Binance users will be able to instantly transfer funds between their Binance and WazirX accounts.
- Binance users will be able to sign into WazirX directly using their existing Binance accounts.
- Binance users will also be able to both buy and sell USDT via WazirX’s P2P trading platform directly on Binance.
