WazirX Deposit not working: Netizens complain about WazirX Deposit issues

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. 

WazirX Deposit Not Working 

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. 

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