Updated May 10th, 2021 at 16:17 IST
WazirX Deposit not working: Netizens complain about WazirX Deposit issues
WazirX users have been facing issues depositing their funds into the WazirX app since last Saturday. Read on to know about WazirX deposit not working issue.
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The cryptocurrency industry has come a long way in India. While there's significant risk involved, crypto like Bitcoin is backed by the technology of blockchain which is one of the most foolproof technologies in the world and cryptocurrencies are 'mined' digitally, similar to how rare earth metals like silver and gold are mined. While the process behind crypto can be hard to understand, cryptocurrencies are revolutionary technologies with the potential to change the future of the finance industry.
In March 2020, the Supreme Court had lifted the crypto ban in India, stating the RBI's decision to ban them was 'unconstitutional'. Since then, the crypto industry bloomed in India through exchanges such as WazirX, Zebpay and many others. WazirX crypto exchange has arguably been the largest supporter of crypto in the country and is still running campaigns to legitimise the crypto industry in India. However, over the past few days, WazirX users have taken to social media to voice their complaints against the app. Over the past few days, the WazirX Deposit service has been unavailable and people haven't been able to deposit funds into the exchange for trading.
Hey @WazirXIndia
— Technical Mustafa (@GMustafatweets)
Can you tell me, why deposit in INR isn't available?
Not a single option is available to deposit money. pic.twitter.com/8daOuK7qOb
WazirX Deposit Not Working
@WazirXIndia how much time will it take to fix the deposit issue. The prices are going up and I can't see that.#wazirx #bank #issue
— Nishchal Raj (@thenishchalraj)
Now that @WazirXIndia has been not been accepting new INR deposits for over two days citing bank problem at their end. What are the other options an Indian Customer can use? #IndianCrypto #cryptocurrencies #BitcoinCash #dogecoin #india #wazirxdown
— CONSUMER (@Avg_Consumer007)
Hundreds of WazirX users flocked to Twitter over the weekend to complain about the WazirX deposit problem. Whenever people tried to deposit funds into their account they were given the WazirX deposit unavailable message which said Instant Deposit (IMPS, RTGS and NEFT) option is 'Temporarily Unavailable'. For some time now, users have not been able to deposit any funds to buy cryptocurrencies. However, users who have funds already in their accounts can use them for buying and trading cryptocurrencies. WazirX has tweeted about the issue, saying they are actively working to fix the issue for their customers.
📢 Delay in IMPS/NEFT/RTGS deposits from our payment partner's end
— WazirX: Bitcoin & Cryptocurrency Exchange in India (@WazirXIndia)
Due to a network issue at our banking partner’s end, some of you might get error while depositing INR. We’re working with them to solve this ASAP.
NOTE: Funds are safe.
If your money has been debited from your account, it WILL be credited to your account ASAP.
— WazirX: Bitcoin & Cryptocurrency Exchange in India (@WazirXIndia)
We’re focused on solving two issues & we’ll make sure we solve it well.
— Nischal (WazirX) ⚡️ (@NischalShetty)
1. Scale the platform -> WazirX is India’s largest crypto exchange with the highest volume. We’ve now started work on building an enhanced trading experience that will handle heavy load 💪
2. INR deposit https://t.co/oPOH4LMKBH
A few days ago, many banks also disabled the UPI functionality of depositing money into crypto exchanges. Since then, many crypto exchanges like WazirX, Coinswitch have removed the UPI option for making payments. Even though the Supreme Court has reversed RBI's ban on crypto, banks are still wary of the crypto industry. WazirX founder Nischal Shetty is actively fighting to establish crypto as a legitimate industry in India. Stay tuned for more news on the crypto industry.
DISCLAIMER: The information provided on this website is for educational and entertainment purposes. The information provided on this websites 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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Published May 10th, 2021 at 16:17 IST