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WazirX Review

Last Updated on January 31, 2024

James Headshot
Written by
Adam Headshot
Edited by
WazirX logo
2.76
Crypto Head Rating
Visit WazirX

The Bottom Line

WazirX stands out as a comprehensive crypto exchange that caters to the Indian market with an array of offerings, from P2P exchange options to a robust referral program. Its integration with the Binance fiat gateway further expands its accessibility and utility for traders.

Table of Contents
Disclaimer: This is not a validation of cryptocurrency or any particular provider, service, or product. It should not be taken as advice to engage in trading or use any services. Please check our terms and conditions.

Pros

  • Wide range of cryptocurrencies available
  • User-friendly interface
  • Provides a native token, WRX, with benefits
  • INR (Indian Rupee) is supported for trading
  • Staking options available for certain assets

Cons

  • Has faced regulatory challenges in India
  • Peer-to-peer (P2P) platform can be complex for new users
  • Customer support receives mixed reviews
  • Limited educational resources for beginners
  • Has experienced occasional technical issues

Quick Summary

Headquarters Location Mumbai, India
Fiat Currencies Supported INR
Total Supported Cryptocurrencies 238+
Trading Fees 0.10% - 0.40%
Deposit Methods Bank Transfer, Cryptocurrency, Mobikwik
Support Facebook, Twitter, Instagram, Live Chat, Help Center Articles, Support Ticket
Mobile App Yes - iOS, Android

Welcome to our review of the WazirX exchange, a prominent platform in the Indian market that has garnered attention for its accessible trading environment and diverse offerings in the crypto industry.

WazirX homepage

The inception of WazirX signified a new era in the Indian cryptocurrency landscape. Launched in a market ripe for innovation, this platform not only offered an entry point for those interested in digital currencies but also became a nexus for seasoned traders seeking a reliable and efficient environment.

As the crypto market continues to evolve with Bitcoin, Ethereum, and Ripple at the forefront, WazirX has adapted to these changes, constantly enhancing its offerings to meet the diverse needs of its user base. In this expanded introduction, we explore how the exchange has navigated the dynamic crypto trading scene and the impact it has had on traders and the market at large.

About WazirX

WazirX, founded by Nischal Shetty, Sameer Mhatre, and Siddharth Menon in 2018, has established itself as a key player in the Indian cryptocurrency exchange landscape. While starting as an independent entity, it was later acquired by Binance, with Changpeng Zhao’s influence propelling it to new heights.

Catering to a wide range of cryptocurrencies, WazirX aims to offer a platform that is both beginner-friendly and capable of serving the needs of more advanced traders.

WazirX features

The journey of WazirX has been marked by pivotal moments in the crypto industry, which have shaped its trajectory. Founded during a period of regulatory uncertainty in India, the exchange has grown in lockstep with the global expansion of the crypto market.

Industry developments such as the increasing adoption of crypto assets and the shifting stance of regulatory bodies towards cryptocurrency exchanges have played significant roles in WazirX’s evolution. The brainchild of visionaries Nischal Shetty, Sameer Mhatre, and Siddharth Menon, WazirX has navigated through turbulent waters, drawing strength from its early challenges to become a potent symbol of resilience and innovation in the Indian cryptocurrency exchange space.

WazirX has a number of active social profiles including Facebook, Twitter, Instagram, LinkedIn, Reddit, Telegram, TikTok and YouTube.

WazirX has a mobile app on both the Apple App Store and Google Play.

WazirX Supported Cryptocurrencies

WazirX supports trading on over 238 cryptocurrencies on their platform. This exchange currently supports 24 of the top 30 market cap cryptocurrencies.

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Tether USDt (USDT)
  • BNB (BNB)
  • Solana (SOL)
  • XRP (XRP)
  • USDC (USDC)
  • Cardano (ADA)
  • Dogecoin (DOGE)
  • Avalanche (AVAX)
  • TRON (TRX)
  • Chainlink (LINK)
  • Polkadot (DOT)
  • Polygon (MATIC)
  • Toncoin (TON)
  • Shiba Inu (SHIB)
  • Uniswap (UNI)
  • Bitcoin Cash (BCH)
  • Litecoin (LTC)
  • Internet Computer (ICP)
  • Dai (DAI)
  • Immutable (IMX)
  • Aptos (APT)
  • Ethereum Classic (ETC)
  • Cosmos (ATOM)
  • Stacks (STX)
  • Filecoin (FIL)
  • NEAR Protocol (NEAR)
  • UNUS SED LEO (LEO)
  • Kaspa (KAS)

View all cryptocurrencies WazirX supports

  • 1INCH
  • AAVE
  • ACH
  • ADA
  • ADX
  • AGLD
  • ALGO
  • ALICE
  • ALPACA
  • ALPHA
  • ALPINE
  • AMP
  • ANKR
  • APE
  • API3
  • AR
  • ARB
  • ARDR
  • ATA
  • ATOM
  • AUCTION
  • AUDIO
  • AVA
  • AVAX
  • AXS
  • BAKE
  • BAL
  • BAND
  • BAT
  • BCH
  • BCHSV
  • BETA
  • BICO
  • BIGTIME
  • BLUR
  • BLZ
  • BNB
  • BNT
  • BOB
  • BOND
  • BRISE
  • BSW
  • BTC
  • BTS
  • BURGER
  • BUSD
  • CAKE
  • CELO
  • CELR
  • CFX
  • CHESS
  • CHR
  • CHZ
  • CKB
  • CLV
  • COMP
  • COS
  • COTI
  • CREAM
  • CRV
  • CTSI
  • CTXC
  • CVC
  • DAR
  • DASH
  • DATA
  • DCR
  • DEGO
  • DENT
  • DEXE
  • DGB
  • DOCK
  • DODO
  • DOGE
  • DOT
  • DUSK
  • DYDX
  • EGLD
  • ENJ
  • ENS
  • EOS
  • ETC
  • ETH
  • FET
  • FIL
  • FIRO
  • FLOKI
  • FLOW
  • FRONT
  • FTM
  • FTT
  • FUN
  • GALA
  • GFT
  • GLM
  • GLMR
  • GNO
  • GRT
  • HBAR
  • HIFI
  • HIVE
  • HNT
  • HOT
  • ICP
  • ICX
  • ID
  • IDEX
  • ILV
  • INJ
  • IOST
  • IOTA
  • IOTX
  • JASMY
  • JST
  • KAVA
  • KDA
  • KEY
  • KLAY
  • KMD
  • KNC
  • KSM
  • LAZIO
  • LEVER
  • LINA
  • LINK
  • LOOM
  • LOVELY
  • LRC
  • LSK
  • LTC
  • MANA
  • MASK
  • MATIC
  • MBOX
  • MDX
  • MINA
  • MKR
  • MLN
  • MTL
  • NEAR
  • NEO
  • NKN
  • NMR
  • NULS
  • OCEAN
  • OGN
  • OMG
  • ONE
  • ONT
  • OOKI
  • OXT
  • PAXG
  • PENDLE
  • PEPE
  • PERP
  • PHA
  • PNT
  • PORTO
  • PUNDIX
  • PUSH
  • PYR
  • QI
  • QKC
  • QNT
  • QTUM
  • QUICK
  • RAD
  • RARE
  • REEF
  • REI
  • REN
  • REQ
  • RLC
  • RNDR
  • ROSE
  • RSR
  • RUNE
  • RVN
  • SAND
  • SANTOS
  • SC
  • SCRT
  • SHIB
  • SKL
  • SLP
  • SNT
  • SNX
  • SOL
  • SPELL
  • SRM
  • STEEM
  • STMX
  • STORJ
  • STPT
  • STX
  • SUN
  • SUPER
  • SUSHI
  • SXP
  • SYS
  • T
  • TFUEL
  • THETA
  • TKO
  • TLM
  • TOMO
  • TRB
  • TRX
  • UFT
  • UMA
  • UNI
  • USDC
  • USDT
  • VET
  • VGX
  • VIB
  • VITE
  • VOXEL
  • WAVES
  • WAXP
  • WIN
  • WLD
  • WRX
  • WTC
  • XEC
  • XEM
  • XLM
  • XMR
  • XRP
  • XTZ
  • XVG
  • XVS
  • YFI
  • YFII
  • YGG
  • ZEC
  • ZIL
  • ZRX

Trading Experience

WazirX offers an efficient design that appeals to both novice and experienced traders. Advanced trading charts, a variety of trading pairs, and a seamless deposit process all contribute to a trading experience that is both dynamic and satisfying.

WazirX’s trading experience is tailored to meet the needs of a diverse base of traders. The platform is designed to accommodate the actual speed and terminal speed required by advanced traders, while also maintaining a beginner-friendly crypto trading platform.

The WazirX trading platform ensures verified trading, offering a range of cryptocurrencies and trading pairs, all within an efficient design that resonates with traders. The advanced trading charts and seamless deposit process not only facilitate a dynamic trading environment but also support users in developing and implementing trading strategies that are vital in managing market risk.

WazirX exchange marketing

WazirX Fees

The fee structure of WazirX is designed to accommodate traders with varying transaction volumes, employing a maker-taker fee model that aligns with industry average. Without delving into specific numbers, it’s noteworthy that fees for makers are typically lower, incentivising liquidity provision on the platform.

Understanding fee structures is critical for traders engaged in Cryptocurrency trading. In the sphere of WazirX’s fee model, it’s essential to acknowledge that while it does not stray far from the industry average, it establishes a competitive landscape for both makers and takers.

This model incentivises liquidity through fees for Makers that are designed to foster an active trading environment. With the exchange’s Taker fees being average for takers, the intent is to balance the ecosystem, encouraging a healthy turnover and flexibility across a wide range of cryptocurrencies.

The list of fees can be found detailed on the platform, providing transparency for users to strategize effectively without incurring unexpected costs.

Type Fee
Deposit Fee (Bank Transfer) 0%
Trading Fee 0.10% - 0.40%
Withdrawal Fee (Bank Transfer) 15 INR - 25 INR

WazirX supports a range of different cryptocurrencies with varying withdrawal fees. When looking at Bitcoin, their withdrawal fee is 0.0006 BTC compared to the industry average of 0.000075 BTC. So WazirX has a fee that is above the industry average by 700.00%.

WazirX has a maker/taker fee schedule which you can see below.

30D TRADING VOLUME
IN INR PAIRS**
TRADING FEES BASED ON WRX HOLDINGS ON WAZIRX*
0 – 500 WRX 500 – 10,000 WRX 10,000 – 50,000 WRX 50,000 + WRX
₹ 0 – 5 LACS 0.40% 0.34% 0.30% 0.20%
₹ 5LACS – 1CR 0.35% 0.30% 0.26% 0.18%
₹ 1CR – 2CR 0.30% 0.26% 0.23% 0.15%
₹ 2CR – 3.5CR 0.25% 0.21% 0.19% 0.13%
₹ 3.5CR+ 0.20% 0.17% 0.15% 0.10%

Security - Is WazirX Safe?

The security measures implemented by WazirX are comprehensive, including regular security audits and the use of a multi-signature wallet system. Additionally, 2-factor authentication adds another layer of security for users, while a significant portion of digital assets are kept in cold storage to protect against online threats.

In the realm of digital finance, maximum security is not just an option but a necessity. WazirX acknowledges this by implementing a multi-signature wallet system and robust security measures, ensuring the protection of users’ assets after trading ceases.

The exchange’s dedication to safeguarding digital assets from network attacks is evident through their regular security audits and adoption of advanced security features. The multi-layered approach, including two-factor authentication, demonstrates WazirX’s commitment to maintaining a secure wallet ecosystem, which is paramount for both novice and professional traders dealing with millions of transactions.

WazirX Customer Support

The customer support framework of WazirX includes a detailed list of FAQs, a WazirX customer care number, and a responsive social media presence. This ensures that users’ queries are addressed promptly, maintaining a high level of customer satisfaction.

Customer support is the backbone of any service-oriented industry, and WazirX is no exception. The exchange provides a robust customer care framework to address the queries and concerns of its users.

Whether it’s a question about WazirX trading fees or assistance with a Withdrawal request, the WazirX customer care number and its responsive social media presence ensure that no question goes unanswered. The comprehensive list of FAQs serves to clarify common queries, and should additional support be required, WazirX reserves the right to engage in public communication to address larger issues, demonstrating their commitment to maintaining a transparent and responsive customer service experience.

WazirX support

WazirX Support Channels

  • Facebook
  • Twitter
  • Instagram
  • Live Chat
  • Help Center Articles
  • Support Ticket

How to Sign Up on WazirX

  1. Create Account - Visit the WazirX website and fill out the create account form. You'll need to include a valid email, set your password and type in other details like your phone number and name.
  2. Verify Account - Confirm your email, you should get an email asking you to verify your account creation.
  3. Transferring Funds - Once your account has been verified, you'll be able to deposit using the deposit methods listed below.
  4. Start Trading Crypto - That's it! You should now have everything in place to start trading.

Deposit Methods

  • Bank Transfer
  • Debit Card
  • Credit Card
  • Cryptocurrency
  • Paypal
  • Apple Pay
  • Google Pay
  • Mobikwik

WazirX Alternatives

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Our review is based on the spot trading platform. Please check our methodology on how we rate exchanges for further information.

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Fiat Currencies Supported
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Fiat Currencies Supported
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Our review is based on the spot trading platform. Please check our methodology on how we rate exchanges for further information.

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Final Thoughts

Reflecting on WazirX, one can appreciate its commitment to providing a robust platform for trading cryptocurrencies. The exchange has managed to capture the attention of traders with its range of features and user-friendly interface.

WazirX FAQs

WazirX is a well-known cryptocurrency exchange that implements standard security measures to protect its users’ accounts and transactions. However, as with any online platform, users should practice good cybersecurity habits and remain vigilant against potential threats.

It is advisable to use strong passwords, enable two-factor authentication, and be cautious with your personal information.

As of my last update, WazirX was not banned. Nonetheless, the regulatory environment for cryptocurrency exchanges can change, so it is recommended to stay updated with the latest information from relevant authorities.

Yes, WazirX allows users to withdraw cryptocurrency to their personal wallets or other addresses. It is essential to follow security protocols during the withdrawal process to ensure the safety of your assets.

WazirX’s KYC (Know Your Customer) process is designed to comply with regulatory requirements and to prevent fraud. The information collected during KYC is typically protected by the platform’s security measures.

WazirX’s trading fees vary depending on the type of trade and the volume. Users can find the most current fee structure directly on the WazirX website or by contacting their customer support.

WazirX employs security measures to protect its platform from unauthorized access and potential hackers, but no system can be deemed entirely impervious to cyber threats. Users should also take proactive steps to secure their accounts.

WazirX operates as a cryptocurrency exchange in India, but for the most current information regarding its registration and compliance with Indian regulations, one should refer to the latest updates from regulatory bodies or the WazirX platform itself.

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Methodology

At Crypto Head we use a rigorous research and rating process to assess each platform. Our star rating system is out of 5 stars and is designed to condense a large amount of information into an easy-to-understand format. You can read our full methodology and rating system for more details.

About The Authors

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Written by

Crypto Technical Writer

James Page, previously the lead writer at Crypto Head and a registered psychologist, brings a unique perspective to the world of blockchain and cryptocurrency.

His extensive experience in the industry and ability to present complex concepts in an understandable manner make his articles a valuable resource for readers seeking to navigate the ever-evolving crypto landscape.

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Edited by

Co-Founder / Managing Editor

Adam Morris, the co-founder of Crypto Head and a respected crypto expert, offers insightful commentary and analysis on cryptocurrency, NFTs, and the evolving digital landscape.

His extensive experience and features in top-tier publications like Forbes and CNN underscore his deep understanding of the crypto world and its future potential.

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