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Updated May 29th, 2021 at 20:19 IST

How much time does Wazirx take for deposit? Here's a brief guide on Wazirx money deposit

WazirX takes a 0.2 per cent commission on every transaction and the time taken to deposit is decent. So how much time does Wazirx take for deposit? Read on.

Reported by: Saurabh Sabat
how much time does wazirx take for deposit
IMAGE: Wazirx.com | Image:self
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WazirX, founded by Nischal Shetty, is one of India's oldest crypto trading apps. In March 2020, the Supreme Court of India lifted the crypto ban, describing the RBI's decision as illegal. The cryptocurrency industry has expanded since then. So how much time does Wazirx take for deposit? Continue reading the article to find out.

Wazirx Deposit Time

After a successful transfer, your money is immediately credited to your WazirX account. Deposits made using IMPS, NEFT, or RTGS can take up to 72 hours to reflect. The majority of deposits are completed in a fraction of the time, often in as little as one hour. 

Every transaction on a cryptocurrency exchange platform is backed by a small percentage of the network's users. WazirX works on the same basis. WazirX takes a 0.2 per cent commission on every transaction and 0.2 per cent is one of the lowest crypto exchange commission rates in the world. Users should be advised, however, that using the app to deposit and withdraw money can be pricey.

WazirX customers can deposit money into the app in one of three ways. Users can deposit funds via UPI, bank transfer (IMPS/NEFT/RTGS), and peer-to-peer lending (P2P). WazirX requires a minimum deposit of Rs. 100 and a minimum withdrawal of Rs. 1000. Here are two methods below:

Steps for Instant Deposit Using IMPS/NEFT/RTGS

  • In the top bar, select Funds.
  • The Indian Rupee is a currency used in India. Select the Deposit option.
  • By inputting the bank account details from which you will deposit funds, you can link your bank account. Your WazirX account name must match the name you submit.
  • Select Instant Deposit from the drop-down menu. IMPS, NEFT, and RTGS
  • The WazirX bank details will appear next. Transfer funds to the account information supplied using IMPS/NEFT/RTGS.
  • After the transfer is successful, the deposit you make will get credited into your WazirX account.

Steps for Instant Deposit Using UPI

  • In the top bar, select Funds.
  • Click the Deposit button under Indian Rupee.
  • Select UPI (Unified Payments Interface) for instant deposit.
  • Connect your UPI ID to the account where you'll be depositing the funds. Your WazirX account name and the name in the UPI Banking system must match for successful verification.
  • After you've completed the verification, enter the amount you want to deposit and click "Continue."
  • Check your UPI app for the transaction and finish it. Your deposit will be processed almost immediately.

IMAGE: Wazirx.com

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Published May 29th, 2021 at 20:19 IST

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