WazirX App Review: Know Everything About The WazirX App In Detail

WazirX is India’s one of the most popular Indian Crypto exchange platforms and a go-to place for Indian Crypto investors to work. It has an ever-growing user base as it offers 100 + cryptocurrencies to trade including its WRX tokens. You can start trading by completing a few simple steps like signup, KYC completion, depositing INR, and placing an order. It lets you buy or sell USDT through P2P exchange and does not charge you any fee. In this WazirX review, you will know about all the features which it offers and you will also get a guide to begin trading on WazirX. In this blog we are going to tell you the WazirX App Review, so read this full blog to get the complete information.

About WazirX app

WazirX is a renowned Indian Crypto trading platform that offers a simplified trading app with plenty of exciting features. WazirX is a user-friendly Crypto trading app that is enabled with robust security features. Additionally, its integration with Binance and the introduction of WRX utility tokens, and the innovative WazirX P2P trading exchange have contributed and made it a popular and extensive adoption.

WazirX was launched by Nischal Shetty, Sameer Mhatre, and Siddharth Menon in March 2018. It allows UPI, IMPS, NEFT, and RTGS deposits but in this credit card deposits are prohibited. WazirX is charging a 0.20% taker fee and 0.20% maker fee for every trade and transaction.

Related: Bitbns App Review

Key Features of WazirX App

The following are some of the highlight features of the WazirX app which are mentioned below:

• WazirX trading platform is accessible through the web, smartphones, Android, Windows, Apple, iOS mobiles, and Mac systems.
• This platform offers a wide range of cryptocurrencies and you can trade in over 100 plus cryptocurrencies paired with USDT.
• The app is capable of handling millions of transactions effectively and smoothly.
• It is built by some of the hardcore and passionate blockchain professionals so the platform integrates almost every feature along with charting tools of trading view.
• You can also transfer crypto assets to your WazirX wallet.
• You can withdraw INR directly to your registered bank account and in the case of a Crypto asset, you can transfer it to your wallet.
• They offer a 24×7 support system. However, you can only submit a request through the mail and WazirX will revert.

How to use: Way to use WazirX app

With the help of the WazirX app, you can easily buy Bitcoin in India. Here is the process to use the WazirX app:

1. Create a WazirX account

• Go to the WazirX website and click on the signup button
• Add your email address and create a strong password
• Go to the WazirX terms of service and then click on the check box if the terms suit you.
• Click on sign up to complete
• Check your email inbox for a verification email and then tap on the verify email option to complete the sign-up process
• For the KYC verification process, you have to select your country from the list of options which you will be given
• Then you will be asked for KYC verification.

2. Deposit funds

Here you can go about depositing Indian rupees on WazirX  through two options:

• You can deposit by UPI, IMPS, NEFT, RTGS and you will need to submit your transaction details for verification purposes to WazirX
• You can deposit IMPS, NEFT, RTGS, and here you can skip the submit your transaction details part.

3. Buy Bitcoin

• Visit the exchange to know the newest Bitcoin price in India
• You can find the buy and sell options on your dashboard by scrolling down
• After selecting buy Bitcoin, put in your desired price in INR and the amount of Bitcoin you want to buy
• Hit the place buy order button and simply wait for the order to be executed.

• And this is done.

How to transfer money in WazirX?

The following are the steps to transfer money in the WazirX app:

• Click on funds in the top bar
• Click on the deposit button at the Indian rupee
• Link your bank account by putting the bank details in which you will deposit funds
• Click on instant deposit IMPS/ NEFT /RTGS
• Transfer funds by IMPS/ NEFT/ RTGS in the given account details.

How to withdraw funds: Steps to withdraw funds

With the help of this app, you can make a withdrawal in INR as well as a Crypto asset on WazirX. The following are the simple steps to follow to make a withdrawal:

• Click on the fund tab from the header
• Then click on the withdraw button in front of the Asset you wish to make a withdrawal
• In the case of INR, you can choose an option between instant withdrawal and NEFT withdrawal

In the case of a Crypto asset, you can send the coins to your wallet address or scan the QR code to make a transfer.

Related : Zebpay App Review

How to buy or sell USDT on WazirX?

By following the steps mentioned below, you can buy USDT on WazirX:

• Firstly, click on P2P at the top of your screen.
• Then you need to enter the amount of USDT you wish to buy
• Click on the place buy order button and the WazirX platform will start searching for the sellers for your respective order
• You will see various matches from multiple sellers
• Then make payments to each of the sellers and then click on ‘I have paid’ after making the payments
• At last, wait for the seller to confirm your payment
• Once the seller confirms the payment, the USDT will be credited to your WazirX account
• Similarly, for selling USDT you have to click the place a sell order button, and when you receive the payment click on ‘yes I have received the payment’.

WazirX Fees

The WazirX fees are as follows:

• WazirX charges a maker or taker fee of 0.2% on spot trading and there is no fee for making a P2P exchange and you will have to pay 25% of your profit to professional traders on WazirX STF trading.
• If you make an INR deposit through a bank transfer then you will have to pay INR 6.7 as a transaction fee.
• You will have to pay a withdrawal fee as mentioned there.

Related: Unocoin App Review

Pros and Cons of WazirX App

The following are some of the pros of the WazirX app:

• Both the website as well as the app have a beginner-friendly user interface
• STF enables investors with no time to make a Portfolio by paying a percentage of their profit
• It is affiliated with Binance which is the world’s biggest exchange
• You can deposit using Mobiwik and there are many other options too.

The following are some of the cons which you should know before using the WazirX app:

• They do not provide high liquidity
• They do not have a Crypto lending feature
• They charge a high fee for withdrawing crypto assets.

Is WazirX a safe platform?

Yes, WazirX is a safe platform as it stores almost 95% of your funds in offline cold storage and keeps it safe from any hacking attempts. However, you can keep track of a few things to secure your assets:

• Only use the official website or app downloaded from the Play Store or App Store to login and order trades
• Enable two factors and OTP authentication
• Never share your account details with anyone and not even with people working at WazirX
• Never use public wifi to access your data as it can hack your data.

Related: CoinDCX App Review

FAQs

1. Is WazirX trusted?

Ans. Yes, WazirX is a registered exchange platform and has more than a million users which makes it a trusted platform.

2. What is STF in WazirX?

Ans. Smart Token Fund (STF) is similar to copy trading which allows you to buy smart tokens and let the expert investors carry out trades in your place and this exchange you will have to pay them 25% of the total profits you make.

3. Is WazirX a Bitcoin wallet?

Ans. WazirX is an Indian Exchange platform with connect buyers and sellers and it offers a secure wallet to store your Crypto assets and you can also use this wallet to store Bitcoin.

4. Is WazirX legal in India?

Ans. Yes, WazirX is legal in India, and to trade cryptocurrencies, it is regarded as a trusted platform.

5. Can you open a WazirX account without KYC?

Ans. With the help of KYC, you can deposit INR, undertake P2P transactions and withdraw money but if you open it without KYC you can deposit only your existing cryptos if you have any of them.

6. Is it safe to link a bank account with WazirX?

Ans. Yes, it is safe to link a bank account with WazirX.

Conclusion

WazirX is an Indian Exchange platform that offers features like auto-order completion and STF investment and is one of the best apps for beginners with a great referral program and one of the best mobile apps for trading. If you are looking to start your crypto investment journey then WazirX can be a good option for you. In last, I hope this blog sufficient enough to provide the complete information about WazirX App Review.