Finding a reliable crypto trading platform is quite a daunting task; however, checking its background is even tougher. With WazirX, users can now peacefully trade cryptocurrencies with fiat and reap the benefits.
WazirX is an Indian cryptocurrency exchange launched in March 2018 by three young individuals: Nischal Shetty, Siddharth Menon, and Sameer Mhatre. The platform hosts some of the advanced features and unique trading interface to securely buy, sell and trade major cryptocurrencies like bitcoin, Litecoin, bitcoin cash, Dash, etc. The platform allows users to deposit or withdraw cryptocurrencies and cash in or cash out USDT through P2P at a much faster pace. It also helps users securely store their digital assets in the WazirX wallet, downloaded from the WazirX website. For more information about WazirX, read the WazirX review here.
However, soon after its launch, the RBI (Reserve Bank of India) banned crypto trading in India, leaving the exchange in a tight spot. However, having just started in the crypto industry, the exchange managed to tide over the crypto ban successfully by steering this newness to its advantage. The platform began Peer-to-Peer trading (P2P), allowing people to exchange crypto with Indian Rupees. P2P trading kept the exchange alive till 2020, when the Supreme court removed the crypto ban in India.
WazirX first matches the person looking to buy crypto for fiat currency with someone looking to sell crypto for fiat. Once it finds a match, the algorithm asks the seller to deposit the cryptocurrency with the exchange to be escrowed for safekeeping. On the other hand, the buyer transfers fiat to the seller’s bank account through IMPS or UPI. As soon as the seller confirms payment receipt, WazirX releases the crypto to the buyer.
WazirX hosts some of the amazing features that crypto users look for:
Yes, WazirX is a trusted platform with millions of users. The platform is registered in India and connects buyers and sellers across the world.
Using WazirX offers the following benefits to the users:
Yes, WazirX is a good platform to invest in cryptocurrency. However, it is always recommended to do proper research about the crypto market before rushing into investing. This is because cryptocurrencies are volatile assets, and only that amount should be invested that the investors can afford to lose.
WazirX is a safe and convenient crypto platform that helps users to diversify their investment portfolio. Therefore, crypto enthusiasts should give it a try to trade on the WazirX platform at least once in their crypto trading career.
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