What is WazirX app? Trade the world's major cryptocurrencies on the WazirX crypto exchange

As cryptocurrencies get more and more popular around the world, a lot of new people have started getting involved with investing in cryptocurrencies. However, getting into crypto is not as easy as it appears, and people should do thorough research before getting involved with cryptocurrencies. However, Indian crypto exchanges like WazirX and CoinSwtich have made it easier for the common Indian people to get into cryptocurrency in India, by creating a platform where people can buy crypto easily and securely. 

What is WazirX App?

WazirX is a crypto exchange platform. Basically, a crypto exchange is an app/ website where you can trade various cryptocurrencies and coins using your national currency. Users can deposit money into exchanges and buy cryptocurrencies with that money. WazirX works on the same platform, where you can send money to the app, using a bank transfer. The money is added to your WazirX wallet, which can be used to buy various cryptocurrencies. It must be noted that users will have to finish their KYC process before they can effectively start trading crypto. 

Founded by Nischal Shetty, WazirX is one of the oldest crypto trading apps and was started on March 18. Just after WazirX was launched, the Indian Government banned crypto trading in India. So then, WazirX started the Peer to Peer trading popularly known as P2P trading where people could exchange crypto with each other without the use of money. This kept the platform alive till 2020 when the Supreme court legalised cryptocurrencies in India again. Since then, WazirX has become one of the biggest and most popular crypto exchanges in India and have a major role in making crypto trading accessible to the Indian public. 

WazirX Charges 

Any crypto exchange platform works by charging a small percentage from its users on every trade. WazirX works on a similar basis. WazirX charges 0.2 per cent as commission on every transaction. The 0.2 per cent rate is one of the lowest crypto exchange commission rates in the world. However, users should note that depositing and withdrawing money into the app can cost you money. Depositing money via bank transfer will cost Rs. 5.9 whereas withdrawing money from the app costs anywhere between Rs. 5 to 10 depending on the method of withdrawal used. While cryptocurrencies can be lucrative, readers are advised to do thorough research before investing in any cryptocurrency. Stay tuned for more news on crypto and technology. 

Image Source: WazirX Website