by Rushali 
A cryptocurrency is a form of digital currency that can be used as storage value as well as can be used to buy things. There are many cryptocurrencies in the world like bitcoin, ethereum, litecoin, dogecoin, etc. But the most famous one and widely used is bitcoin. Bitcoin is a unique form of money, it has no boundaries. You can access your bitcoin from anywhere in the world.
In the past few months bitcoins have been enjoying a bullish phase. In just a few months it has reached its all-time high of over $58000 on 21 Feb. And it also reached $1 trillion in market capitalization for the first time in history. The bullish is fueled by investment from big market players and not just retail investors. After this pandemic, many new investors also entering the market.
In the past few years, the crypto industry has seen huge development. A few years back if you have thought of investing in cryptocurrency then you have to do a havoc task to find an exchange that supports your cryptocurrency and also has all the features. But today you can find n number of crypto exchanges that will support your cryptocurrency as well as will provide you lot of features.
The main issue still remains intact that people get confused on where to invest in any cryptocurrency. The wide range of options even increases the confusion.
This article will review the exchanges and try to solve your confusion a bit. Today, I will review WazirX.
Introduction
WazirX is an India-based cryptocurrency exchange that helps you to buy, sell, and trade in cryptocurrencies like Bitcoin, ethereum, litecoin, etc. It was launched in the year 2018, by Nischal Shetty, Sameer Mhatre, and Siddharth Menon. It allows different payment methods like UPI, IMPS, NEFT, and RTGS deposits. WazirX is charging a 0.20% taker fee and 0.20% Maker Fee for every trade transaction.
Initial Days
Just after some time of its release Reserve Bank of India has imposed a banking ban on all crypto transactions and even a 3 month time period for all the crypto exchanges. After that, the exchange has responded quickly and efficiently. They launched the world’s first auto-matching system for P2P trading called WazirX P2P so that people of India do not get deprived of the cryptocurrencies. The success of the exchange is amazing, it has crossed 100 crores of P2P trades. The success of this exchange proves that the people of India also has accepted the cryptocurrency market. WazirX has grown at the rate of 50% per month and it has become one of the biggest crypto exchanges in India.
Also Read : Binance Review
Ideas
Apart from the exchange, it has also introduced two ideas that helped a lot of traders. One is WRX and the other is Referral commission.
WRX – It is a native token of the exchange that will not give you returns but is introduced for the users of the exchange. WRX is meant for those users who want to participate for the long-term on the exchange. The company is constantly working on plans that will ensure WRX achieves high value in the future and becomes a must-have in any crypto wallet. Till then, the platform advises its users to accumulate and hold on to WRX as the value grows on WazirX. WRX has a great future.
Referral Commission- They have a scheme of 50% referral commission. The trading fees are divided into 50-50 that helps to build a long-term-return scenario in crypto adoption regardless of the trading volume. The shame says the more persons you transact with on this WazirX trading platform, the more will be the savings in crypto trading fees.
Website
The exchange has a very interactive user interface that makes it very easy to trade in it. The way the Indian site has been made can surely give competition to international sites. WazirX is one the Best crypto exchanges in India, dealing with cryptocurrencies and normal currencies. The native cryptocurrency token WRX has the info about the site’s cookies, in which the collaboration with Binance fiat gateway where trading is possible in Indian currency, and the app versions of the site are also mentioned.
Deposit and withdrawal
It supports many deposit methods. And the deposit fees are also very reasonable according to the industry. The app of WazirX allows crypto traders to transact on WazirX very easily and from anywhere in the world. You can do a WazirX withdrawal also. WazirX Withdrawal fees are also quite low compared to other exchanges’ withdrawal fees. They charge just the withdrawal fee for one Bitcoin is 0.0005 BTC when processed on WazirX.
Also Read : 10 best cryptocurrencies to buy for 2021
Security
The security aspect of the WazirX trading system from India has a high rating among the users, and the sale and other transductions of instruments are fully safe with the usual encryptions. Account security is taken very seriously the exchange and security audits are carried out at regular intervals. If we check the order book and the volume of trades and exchange of money they are also above average, and so users can safely use the exchange for trading on this platform.
In the end, we can say that all the aspects are very good for this exchange, and for the people of India, it is like a blessing.
