During this Covid-19 pandemic, a wave of responsibility has touched the Indian youth so hard that it has finally realized the value of Investing. And after Cryptocurrency trading gets legalized in India on March 4th, WazirX became immensely popular mainly among Indian youth. WazirX is a cryptocurrency exchange based in Mumbai. So let’s go more into the details to know the efficiency of the platform and how good is it for beginners, Let’s Review WazirX.
What is WazirX?
- WazirX is a Mumbai-based cryptocurrency exchange through which anyone can invest in a number of cryptocurrencies.
- Its developers, Nischal Shetty, Sameer Mhatre, and Siddharth Menon had a thought of creating a platform where Indians can buy and sell cryptocurrencies and enjoy the benefit of surplus gains. Hence WazirX came into the picture in 2018.
- Recently, one of the largest cryptocurrency exchanges in the world, Binance ties up with WazirX and that allows people to log in to WazirX through Binance.
key features: WazirX Review
- Can be operated on both Android and iOS devices.
- Simple user Interface
- It ranks #27 on global exchange traffic.
- Avail users with Peer-to-Peer (zero fees for trading).
- Simplicity in transactions through Bank accounts
Its user Interface
- Simply understandable charts and graphics
- Minimal use of Jargons
- No advanced Charting tools
- Technically advanced users will not enjoy the platform’s charts
- Proper guidelines on each and every step of trading
Key points about Fees
- DEPOSIT FEES: Depends on the deposit method used.
- WITHDRAWL FEES: Platform charges network fees while using withdrawal services.
- For limit and conditional orders, a 0.02% fee is charged.
- For Market orders, 0.02% is the fee.
Scope of Improvement: WazirX Review
- Can add more advanced options other than the limit and stop limit.
- No information on Security practices.
- Server Errors: Sometimes users face Deposit problems
- Security: Sometimes Banks refuse a transaction due to security concerns.
The platform provides the service of trading in over 160+ cryptocurrencies including Bitcoin, Ether Matic, Litecoin, EOS, etc. Its main fiat currency is INR, others are USDT and AND BTC. Its high exchange traffic is the main reason that an Exchange as big as Binance ties up with it.
All in all, WazirX is a beginner’s friendly platform to trade in cryptocurrency with simple registration and login processes. The platform is like a blessing in disguise for traders in India that they have an easy cryptocurrency trading platform.
Buy and Sell Crypt at WazirX, Here
ADVISORY: Do your own research before investing in any cryptocurrency
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