Exchanges

How To Buy Bitcoin In WazirX?

Overview

WazirX was founded in 2018 by Nischal Shetty, Sameer Mhatre, and Siddharth Menon. It is the leading cryptocurrency exchange in India that has an advanced trading interface and has several features to buy, sell, and trade cryptocurrencies. This cryptocurrency exchange offers a live open order book system that helps users trade Bitcoin, Dash, Litecoin, and several more. Users can deposit or withdraw cryptocurrencies, and also they can cash in or cash out USDT through peer-to-peer platforms easily; they can also securely store their digital assets in their WazirX wallet.

How to Register on WazirX?

There are several positive WazirX reviews. The platform offers several options for users to purchase Bitcoin or any other cryptocurrency according to their budget. Users need not complete the KYC process to trade on WazirX. 

Here are the steps to set up an account with WazirX –

  • Firstly, you need to download the WazirX app, or you need to visit the website, then click the sign-up button.
  • Provide your email address and password. Your password should be strong with special characters.
  • Click the terms and services checkbox, but you need to go through it before clicking it. Then click the sign-up button.
  • You will receive a verification email after clicking the sign-up button. When you receive it, click the verify email link to complete the process.
  • For security purposes, WazirX recommends enabling two-factor authentication to secure your account. You can do this by downloading the Google Authenticator app and connecting it to the account.
  • The last step of the account setup process is the KYC (know your customer) verification.

Understanding WazirX’s Features

  1. The only exchange that rewards the users for trading is WazirX. If you trade moreThe more you trade, the more WRX tokens you can unlock, helping you earn more. 
  2. The first token backed by the Indian exchange is the WRX token. Moreover, you can claim WRX coins for free by signing up and trading on WazirX.
  3. Wazirx has a referral program that has the highest commission payout. You can refer your friends and relatives to WazirX and can earn a 50% commission on their trading fees.
  4. Wazir X has a low trading fee starting at 0.1 %. 
  5. Wazirx is available on Android, web, iOS, Windows, and Mac for its users. 

Is it possible to Buy Different Currencies Through WazirX?

Yes, it is possible to buy different currencies via WazirX using two methods. 

Spot Exchange

Using your WazirX account, you can access the spot exchange market and choose a cryptocurrency that you intend to buy. WazirX platform has more than 70 cryptocurrencies that are available for trading. Before buying, you should check the currency pairs. There are two possibilities –

  • Currencies that are paired with INR; this is where you can place your buy order directly using the form and buy your desired cryptocurrency.
  • If the currency does not have an INR pair, you should check the currency pairs. Almost all cryptocurrencies have USDT pairs. First, you should purchase USDT, and when you have received USDT in your account, you can use it to purchase your chosen currency.

P2P Marketplace

  • Peer-to-peer is the WazirX platform’s marketplace, also known as the auto-order matching engine. This is the place where you can buy and sell USDT through INR. WazirX acts as an escrow for the transaction by protecting and safeguarding your transaction.
  • If you’re planning to buy USDT through the p2p market, then you should place an order form through your WazirX account. This will be matched automatically with the seller offering that currency.
  • The next step would be to transfer the money directly to the seller. After confirming the receipt of payment from the seller, WazirX releases the escrowed currency. After receiving your USDT, you can use it to buy other cryptocurrencies.

Free & Instant Deposits & Withdrawals via P2P

WazirX is the best p2p platform in India, and its exclusive auto-matching feature is p2p. It can solve the fiat-crypto problem for its users. WazirX’s peer-to-peer platform gives users a huge advantage over fiat deposit and withdrawal methods. Another plus point is that there have been 0% fraud cases on the p2p platform. WazirX has plans to launch its p2p platform in international countries shortly. 

Final Thoughts

WazirX is the most trustworthy and reliable exchange available for Indian traders who want to buy or sell cryptocurrencies. WazirX is a great alternative to international exchanges like Binance that do not support INR for withdrawals. Traders can sign up with WazirX to purchase USDT and then transfer the coins to other exchanges. This crypto exchange is fast, safe, and one of the most reliable crypto platforms available on Windows, Android, iOS, and Mac. It also offers its token WRX, which can be used to pay transaction fees. If you are planning to mine your bitcoin, then do read the guide on online bitcoin mining without investment.

Michael Mowery
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About author
Michael Mowery is CoinSubtle's one the best full time news editor and ICO analyst. He is passionate about blockchain technology and cryptocurrencies. He always stay updated with latest happenings in fintech industry. He also contribute his insights on upcoming ICOs.
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