WazirX is a centralized cryptocurrency exchange in India created by Sameer Mhatre, Nischal Shetty, and Siddharth Menon in 2018 to allow Indians to buy, sell or exchange their crypto holdings in Indian currency. However, since November 2019, the Indian crypto exchange was acquired by Binance Exchange, one of the largest cryptocurrency exchanges in the world in terms of trading volume. Following this acquisition, WazirX became globally available to traders all across the globe.
Using WazirX is very simple. Users who want to buy or sell crypto coins on WazirX need to first create an account on the exchange. The users need to visit the exchange’s official homepage and click on the ‘signup’ button. After that, they will be directed to a ‘signup’ form where they need to fill in their active email id and phone number and agree to the terms and conditions for signing up. Then comes the verification process, where users are sent an OTP via email or SMS that they need to use to verify their email and phone number. Now submit the KYC details, without which you cannot withdraw any fund from the exchange. After the security verification comes to the final page, you need to feed some personal details like your full name, address, date of birth, and country. Click on the ‘Submit’ tab, and your account will be created. Now you will be asked about your next operations on the exchange, whether you want to buy, sell, or exchange cryptocurrencies. If you want to buy cryptocurrencies, select the ‘buy’ option, and the platform will automatically find a matching seller for you.
The selling process is just the opposite of the buying process.
Yes, WazirX is legal in India. Users can buy, sell or exchange their preferred cryptocurrency on the platform in a secure way.
After WazirX was banned in India for 3 months by the country’s financial authority for allegedly depriving Indians of the Blockchain revolution, WazirX quickly launched WazirX P2P to solve the fiat currency-cryptocurrency problem that existed in the country. WazirX P2P became the world’s first auto-matching system that allows users to convert their money to cryptocurrencies instantly. With the help of WazirX P2P, buyers’ requirements are matched with the sellers automatically with zero transaction fees.
Absolutely. WazirX is an innovative and one of the top crypto exchanges that ensures users’ security by implementing a two-factor authentication system. After each completed transaction, users receive an OTP via SMS or email by which they can authenticate that the transactions were made by them.
Thus, WazirX has earned the reputation of being one the fastest and reliable cryptocurrency exchange platforms, not only for the Indians but also for the entire world. Its innovative P2P auto-matching systems have made crypto trading easier. To know more, visit WazirX Review.
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