WazirX

WazirX is India's largest and most trusted bitcoin and cryptocurrency exchange. It gained massive popularity for its unique P2P engine that auto-matches buyers and sellers, solving the banking fiat deposit issues in India. WazirX was acquired by Binance (though operations remain independent), providing it with deep liquidity and credibility.

The platform has its own utility token, WRX, which users can use to pay trading fees at a discount. WazirX allows users to buy, sell, and trade hundreds of cryptocurrencies with INR (Indian Rupee). It is a legitimate market leader facilitating crypto adoption for millions of Indians.

Frequently Asked Questions

1. specific trading fees?

WazirX charges a flat trading fee of 0.2% on both buy and sell orders. You can reduce this fee by 50% if you choose to pay transaction fees using the WRX token held in your wallet.

2. How does the P2P engine work?

WazirX P2P connects buyers with sellers directly to convert INR to USDT. The buyer sends INR to the seller's bank account, and WazirX releases the USDT from escrow to the buyer. This bypasses direct bank-to-crypto restrictions.

3. Is WazirX safe?

WazirX uses multi-signature wallet systems and strictly adheres to KYC/AML policies. While they are a major target, they maintain robust security protocols. (Note: Always check current news as the crypto landscape in India evolves quickly).

4. What is the Smart Token Fund (STF)?

STF is a feature that allows new investors to find expert traders and let them manage their cryptocurrency portfolio. You buy the trader's "smart token," and its value increases if the trader makes profitable moves.

5. Is KYC mandatory?

Yes, KYC verification is mandatory on WazirX to deposit INR or crypto and to withdraw funds. You must submit your PAN card and Aadhaar card details to comply with Indian financial regulations.