WazirX is one of the fastest growing cryptocurrency exchanges of India with more than 60 lakh registered users and an average app rating of more than 4 stars. Despite the launch of many new crypto exchanges and amidst all the controversies, WazirX still provides one of the best and widest range of offerings in terms of coins and tradable pairs such as USDT/INR, ETH/INR, and BTC/INR.
This platform is also known for its user-friendly interface and advanced trading charts and thus, it is preferred by both beginners and seasonal traders. WazirX runs a referral program, which can make the users earn rewards up to 50% commission on every trade. If we talk about the safety and security features, WazirX tops the chart with gold standard safety measures.
However, there are few concerns over the limited options of depositing the funds into a WazirX account which is either done via a bank account or peer-to-peer (P2P) transactions. The exchange also lacks features such as crypto lending, staking and margin trading features on its platform;all of these are very much available on their competitors’ platform.
WazirX Exchange
Pros & Cons
- India’s first automated P2P trading platform with high liquidity.
- Instant price alert and quick buy feature on WazirXApp.
- 95% of the funds are stored in cold storage.
- Robust customer-service with live-chat feature.
- Multilingual website support.
- Superior security feature with 2FA authentication and cold storage.
- Wide range of educational material via WazirX tutorial blogs.
- Negative brand image.
- No practice trading with a demo account.
- Does not offer margin trading, crypto lending and staking.
- P2P platform only supports eight coins paired with USD Tether.
- Charges trading and withdrawal fee.
- No insurance fund back-up in cases of hacks and frauds.
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