Cryptocurrencies have gained immense popularity over the last few years. People are looking for ways to invest their money in this market and earn profits. One such platform that has emerged as a leading cryptocurrency exchange in India is Wazir X. In this article, we will explore everything you need to know about Wazir X, including its features, benefits, fees, and more.
What is Wazir X?
Wazir X is a cryptocurrency exchange that was launched in 2018 by Nischal Shetty, Siddharth Menon, and Sameer Mhatre. It is based in India and allows users to buy, sell, and trade cryptocurrencies such as Bitcoin, Ethereum, Litecoin, and more. Wazir X aims to make the process of buying and selling cryptocurrencies simple, fast, and secure.
Top 5 Cryptocurrency Exchange app in India
How to Sign Up on Wazir X
Signing up on Wazir X is a straightforward process. You can follow the steps below:
- Visit the Wazir X website or download the mobile app.
- Click on the “Sign Up” button and enter your email address and password.
- Verify your email address by clicking on the verification link sent to your email.
- Complete your KYC verification by submitting your Aadhaar card, PAN card, or passport.
- Once your verification is complete, you can start buying and selling cryptocurrencies on Wazir X.
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Features of Wazir X
Wazir X offers several features that make it a popular choice among cryptocurrency traders. Some of these features include:
User-Friendly Interface
Wazir X has a user-friendly interface that makes it easy for beginners to navigate and trade cryptocurrencies.
Multiple Payment Options
Wazir X allows users to buy cryptocurrencies using various payment options such as UPI, bank transfer, credit card, and debit card.
High Liquidity
Wazir X has high liquidity, which means that users can easily buy and sell cryptocurrencies at the market price without facing any slippage.
Advanced Trading Tools
Wazir X offers advanced trading tools such as stop loss, limit order, and market order to help users trade cryptocurrencies more efficiently.
Mobile App
Wazir X has a mobile app available for both Android and iOS users, making it convenient for users to trade cryptocurrencies on the go.
Fees on Wazir X
Wazir X charges a fee for every transaction made on the platform. The fees vary depending on the type of transaction and the payment method used. Here are the fees charged by Wazir X:
Trading Fees
Wazir X charges a trading fee of 0.2% for both buyers and sellers.
Deposit and Withdrawal Fees
Wazir X does not charge any deposit fees. However, withdrawal fees vary depending on the cryptocurrency being withdrawn.
Is Wazir X Safe?
Wazir X takes several measures to ensure the safety of its users’ funds and information. Some of these measures include:
Two-Factor Authentication
Wazir X requires users to enable two-factor authentication (2FA) to secure their accounts.
Secure Wallets
Wazir X uses secure wallets to store users’ cryptocurrencies, ensuring that they are safe from hackers.
KYC Verification
Wazir X requires users to complete their KYC verification before they can start trading on the platform. This helps in preventing fraudulent activities on the platform.
Pros and Cons of Wazir X
Like any other platform, Wazir X has its pros and cons. Let’s take a look at some of them:
Pros
- User-friendly interface
- Multiple payment options
- High liquidity
- Advanced trading tools
- Mobile app for convenient trading on the go
- Strong security measures to protect users’ funds and information
Cons
- Relatively high trading fees compared to some other exchanges
- Limited number of cryptocurrencies available for trading
Conclusion
Wazir X is a popular and reliable cryptocurrency exchange in India that offers a user-friendly interface, multiple payment options, high liquidity, and advanced trading tools. The platform is also safe and secure, with strong measures in place to protect users’ funds and information. Although it may have relatively high trading fees and a limited selection of cryptocurrencies, it remains a top choice for those looking to trade cryptocurrencies in India.
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FAQs
Yes, Wazir X is a legal cryptocurrency exchange in India.
KYC verification on Wazir X usually takes around 24-48 hours to complete.
Yes, Wazir X allows users to buy cryptocurrencies using a credit card.
No, Wazir X does not charge any deposit fees.
Yes, Wazir X has a mobile app available for both Android and iOS users, making it convenient for users to trade cryptocurrencies on the go.
