India is a potential market for cryptocurrency, but after the banking transactions were banned by the Reserve Bank of India, many big cryptocurrency exchanges and wallets in India were bound to shut their operations. WazirX was the first cryptocurrency exchange in India which introduced P2P (Peer to Peer) transactions for its users. This innovation made WazirX India’s best cryptocurrency exchange in several domains.
WazirX was founded by Nischal Shetty, Siddharth Menon and Sameer Mhatre in the Year 2017 with the seed funding of ₹50 lakh and launched for the users in March 2018. It crossed ₹1 crore trading within a week of its launch. It also registered ₹2 crores daily volume despite the RBI circular ban.
WazirX has many qualities and milestones achieved. If you are new to this industry then this article is definitely going to help you a lot. In this article, we are covering all the aspects of Wazirx Cryptocurrency Exchange. Let’s get started.
How to create an account in WazirX
To create your account in WazirX involves a simple five-step process. I am going to explain all the four steps in detail.
Step1: Signup with you email address
To create an account on WazirX, open wazirx.com then click on signup. After clicking on signup, it will ask you for your email address and password. Fill in all the details correctly and click on signup button, it completes your first step of registration.
Step2: Verify your Email address
After signing up you get a verification email to verify your registered email address. By clicking on the verify email button, your email address will automatically be verified in the backend.
Step3: Verify your Mobile Number
Now its time to verify your mobile number, in this step it will ask you to enter your mobile number, after entering your mobile number you receive an OTP. Enter that OTP to verify your mobile number.
Step4: Submit your documents for KYC
The moment you complete your mobile verification you will have to submit your KYC (Know Your Customer) details.
- Full name as on PAN Card
- Your Date of Birth
- Complete address as per your address proof.
- Pin Code
- PAN Card*
- For identity and address verification choose from three
- Aadhar Card*
- Driving License*
* You need to upload the colored pictures of the front and backside of your selected document.
After submitting all your correct personal details and uploading all the required documents, submit your application for the verification. Your verification will be completed within the next 24 hours. My verification was completed in just 30 mins 🙂
Step5: Enter your bank details to receive funds
You get a confirmation email from WazirX when your KYC verification process completes. Now in the last step in buying and selling crypto, you need to fill your bank details and/or UPI address in the Account Settings —> Payment Options. After filling the bank details you just need to verify your bank details by submitting it for the verification process it will automatically be done within a few minutes.
Now your account is ready to buy/sell or trade crypto with different available pairs.
How to buy Bitcoin from WazirX
Buying bitcoin from WazirX is a very easy process. After you complete your KYC verification.
- You just need to log in into your account and click on Funds then Deposit button in front of INR.
- After this you get two options one is the instant deposit and the other is a standard deposit. You can choose any of the options with available methods like IMPS, RTGS & NEFT in instant and UPI also in the standard deposit.
- After choosing instant deposit (Preferable) you need to deposit funds in the given bank account details of WazirX. As you complete the deposit amount within few minutes you get the same amount in your INR balance of WazirX funds.
- Now when your WazirX account is funded with INR. In the next step, you need to follow the given steps
- click on exchange
- Click on INR market
- Click on BTC/INR Pair
- Click on Buy
- Enter the required amount of BTC you want to buy
- Click on Place Buy Order
- Now your BTC order has been successfully placed. When your order completed, you receive the BTC amount in your WazirX BTC wallet.
Some best features offered by WazirX
WazirX is equipped with one of the best features that make it India’s best and most trusted Cryptocurrency exchange. Those features are
Best security features
Wazirx knows how much security is important for your funds. So it invests on a regular basis to provide the best security feature for its users. It makes WazirX India’s most secure exchange.
KYC Process completes within no time
WazirX is the only cryptocurrency exchange in India which completes the KYC process of its users within minutes. This feature is like a cherry on the cake for WazirX.
Accessibility from all platforms
WazirX is providing the best solution since its inception and it always works for the betterment of its services. It provides access from all the famous platforms like Android and iOS mobile apps, Mac OS, Mac app, Windows and Web.
Best User experience and interface
WazirX provides the best user interface to its customers and at the same time, they experience this from all the platforms be it a mobile device or a web-based system.
WazirX is designed in such a way that it can handle millions of transactions seamlessly.
WazirX is the most successful and trusted cryptocurrency exchange in India. The user interface of WazirX is very simple and easy to use. Buying bitcoin from WazirX is like a cakewalk. WazirX also allows trading between different pairs and markets. As it is the first Indian exchange that collaborated with the world’s largest cryptocurrency exchange “Binance“, this makes a proud thing for any Indian exchange. So big cheers to the Team WazirX and its founders for making WazirX India’s most trusted cryptocurrency exchange.
You can also see 8 Best crypto exchanges in India