How to Open WazirX Account?
What Is a Crypto?
Crypto stands for Cryptography. A cryptocurrency uses cryptography to secure, conduct and validate monetary transactions.
No individual or organization controls the creation of cryptocurrencies because they exist on distributed, decentralized networks known as blockchains.
The blockchain consists of information packets called 'blocks' interconnected in a 'chain' type of arrangement. The centralized lasers are created by 'controlled' banks or data repositories by software and networking giants, and the blockchain is a decentralized 'peer-to-peer' digital ledger.
How to Open a Crypto Trading Account on WazirX?
We provide many options for buy bitcoin or many cryptocurrencies according to the budget at WazirX.
If you need to set up an account on WazirX. Follow the below steps:
A verification E-mail will be sent to you after pressing the sign-up button. If you received any e-mail, click on the Verify E-mail to complete the process. If you have not checked your spam folder, then press resend button here. You can see the message on successful verification:
Securing Your Account
We recommend enabling 2-factor authentication (2FA) for security purposes. You can do this by downloading the Google Authentication app and connect your account.
The last step of the account setup process is KYC verification.
Complete KYC Process
To deposit money in INR or crypto form, you have to complete your KYC process. Follow the steps to complete the entire KYC process:
Select your country from the list:
After verifying your KYC process, you are all set to buy XRP from WazirX!
WazirX Trading Fee
WazirX's fees are called flat fees, where the manufacturers are charged the same fee. WazirX's fees are 0.20% for the borrower. Today, we see more exchanges moving towards lower trading fees such as 0.10%. So in comparison, 0.20% is probably slightly above the industry average.
WazirX Withdrawal Fee
Withdrawal fees depend on the crypto asset which you are withdrawing. Nevertheless, they are usually a fixed amount of relevant crypto assets and not a percentage-based trading fee.
According to empirical studies from Cryptowisser.com, the industry average BTC-clearance fee is 0.0006 BTC.
WazirX charges a withdrawal fee in line with the global industry average, i.e., 0.0006 BTC per BTC clearance.
WazirX allows wire transfer deposits but not credit card deposits when it comes to depositing methods.
On 6 June 2019, WazirX announced the payment service provider and making it possible for Indonesian investors to deposit Indonesian rupiah from the trading platform.
How to Buy Different Currencies by WazirX
You can use two methods to buy the cryptocurrency of your choice.
1. Using Spot Exchange
You can use a WazirX account to access the spot exchange market and search for the cryptocurrency you wish to purchase.
There are 100+ cryptocurrencies available for trading on the WazirX platform.
You have to check the currency pairs before buying. There are two possibilities.
1. Currency is combined with INR - You can place a purchase order using the purchase form and get the cryptocurrency of your choice.
For example, if you want to buy Ethereum, you have to fill in the purchase order and Ethereum because it has an INR pair.
2. The currency does not have an INR pair - In these cases, you have to look for the currency pair. Most cryptocurrencies have a USDT pair.
You first buy USDT. Once you receive USDT in your account, you can use it to purchase your required currency coin.
For example, if you want to buy Aion Coin (AION). The coin does not have any INR pair but a USDT pair.
Firstly, you have to buy USDT and then use USDT to buy Aion Coin.
2. Using P2P Market
P2P is a Wazirx auto-order matching engine where you can buy USDT by using INR Wazirx Acts and serves as an escrow in the entire transaction so that the transaction is safe and honored.
To purchase USDT on the P2P market, you can place an order from your WazirX account, which will be matched with the seller of a particular currency.
You have to transfer money to the seller. When the seller confirms the receipt, WazirX issues currency to you.
After acquiring USDT, you can use it to purchase any cryptocurrency.
Deposit and Start trading on WazirX
You can start investing in cryptocurrency to deposit INR by any accepted payment option. You can deposit cryptocurrencies (if you have any).
WazirX Accepted payment methods.
WazirX allows you to deposit INR as well as for cryptocurrency. In Crypto Assets, select the cryptocurrency you wish to deposit and transfer it to the WazirX wallet address.
You can use any of the below payment methods to deposit INR:
Deposit INR or Crypto in WazirX
The deposit of INR is simple. You can follow the below steps to make any deposit:
Spot Trading on WazirX
Trading in WazirX is easy, and you can start by clicking on the 'Exchange' tab on the website's header. WazirX allows us to place orders for any trade. When the market meets the requirements of your order, the system executes it.
The list of crypto assets is on the left side of the exchange screen, and you can start the property of your choice.
WazirX offers a peer-to-peer exchange service. In the case of P2P, you can exchange in USDT. WazirX has one buyer and seller matching software that matches you to the right seller when placing an order as a buyer.
WazirX Coin (WRX)
WRX is a token based on the Binance blockchain and has a maximum market supply of 2 billion coins. You can trade WRX coins on WazirX because its value has increased.
If you use WRX to pay trading fees, you will get a discount. You can use WRX coins to purchase other crypto assets on WazirX.
You can withdraw INR and crypto-assets on WazirX. You can follow the steps to make any withdrawal:
You can open your account from the below-given link:
Referral Link: https://wazirx.com/invite/pnamr4h4
Referral Code: pnamr4h4