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How To Withdraw Money In WazirX? A Step By Step Guide To Withdraw Funds Back Into The Bank

How to withdraw money in WazirX? Many WazirX users have doubts about how to withdraw their funds. Read on to know how to withdraw money from WazirX.

how to withdraw money in wazirx

IMAGE: WAZIRX TWITTER


WazirX is one of India's premier crypto exchanges with over 2 million users. The crypto industry has boomed in India over the past years since the Supreme Court reversed the RBI's ban on cryptocurrencies. However, recently many crypto exchanges have been facing problems with payment services from banks, as banks have refused to offer services to companies dealing with cryptocurrencies. Recently, WazirX has opted to use Mobikwik as their payment provider and users can deposit money through Mobikwik. However, all these issues have created doubt among users about the security of their funds, but WazirX has reported that withdrawals have been unaffected. Read on to know how to withdraw money in WazirX. 

How to withdraw money in WazirX? Is WazirX safe?

WazirX is one of the safest crypto exchanges in India, and have the highest number of users, as compared to other crypto exchanges. The WazirX withdrawal process is quite easy. However, users should note that they need to have their bank account registered along with the KYC process completed before they can withdraw funds from the WazirX exchange. Here is the step by step process to withdraw money from WazirX. 

 

  • Step 1 - Open the WazirX app, and tap on the 'Funds' option. 
  • Step 2 - If you need to sell any of your coins, you can choose to sell them to convert your crypto into Rupees.
  • Step 3 - Your funds in rupees will be visible in the funds section. Click on the INR option and you will be able to see your account transactions, deposits and withdrawals. 
  • Step 4 - At the bottom of the screen, you will be able to see two option, 'Deposit' and 'Withdrawl'. 
  • Step 5 - Click on the withdrawal option, and you will be taken to a new screen, where you will be able to enter the amount you need to withdraw. Enter the amount and submit. 
  • Step 6 - You will receive an email, where you have to verify the withdrawal. Once you have verified, the funds will be reflected in your account shortly. 

However, users should note that there are WazirX withdrawal charges that users should be aware of. There are two withdrawal option, NEFT which has a 5 rupee and withdrawal can take longer. On the other hand, the instant withdrawal option has a 10 rupee fee, but the funds are deposited instantly. Many people often face the 'WazirX withdrawal rejected' issue, which can be caused by users supplying incorrect bank details to WazirX or WazirX bank servers being down. However, WazirX ensures that users funds are safe and you can contact their support team in the app to clarify any query. 

DISCLAIMER: The information provided on this website is for educational and entertainment purposes. The information provided on this website does not constitute investment advice, financial advice or trading advice. Republic World does not recommend purchasing any cryptocurrency. Crypto markets are highly volatile and crypto investments are risky. Readers should do their own research on cryptocurrencies and consult their financial adviser before making any crypto investments. 

 

IMAGE: WAZIRX TWITTER

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