WazirX is a leading Indian cryptocurrency exchange that has been acquired by Binance in 2019. This exchange works on a peer-to-peer platform where you sell your cryptocurrencies, and the money is sent directly to your bank account. Currently, WazirX operates in India, Russia, Nigeria, Ukraine, Indonesia, Saudi Arabia, Turkestan, and the United Kingdom. Users can buy, sell, and trade various cryptocurrencies like Bitcoin, Ethereum, Litecoin, Stellar, Ripple using Indian rupees. In this article, we’ll understand how you can use WazirX to buy and sell cryptocurrencies.
How to Register and What is KYC?
If you want to register with India’s largest crypto exchange – WazirX, you have to fulfill a few requirements. Firstly, you should hold an ID card that has your valid address and photo. Secondly, you should have a bank account to receive and send payments. Registering on the platform is a simple process; you need to fill in details like the email address and your mobile number.
What is KYC, and How do you fill KYC in WazirX?
KYC(Know Your Customer) verification is information you need to submit for verifying your identity. You must fill the KYC if you want to buy or sell crypto on the WazirX platform. For KYC, you need to provide details like a government ID or use your driving license or passport and get it verified. After submitting the required documents, it might take up to 3 days to get verified and reviewed; once it is done, you can use WazirX.
How to Buy Cryptocurrencies on WazirX?
- If you want to buy cryptocurrency through WazirX, you should, most importantly, have a bank account for an IMPS/NEFT transfer to buy crypto.
- On the P2P tab, you need to choose a currency you want to buy. The buying and selling process is very straightforward.
- In order to buy your preferred cryptocurrency, you must purchase USDT first.
- You can select a currency from the list to buy or sell. Next, you should type out the amount you’d like to buy and click on the place buy order button.
- After clicking the buy order button, WazirX will connect you to the seller who is selling USDT at your mentioned price. When the buyer is found, it will display the NEFT/ IMPS/online details so that you can directly pay the seller. After the payment is confirmed by the seller, your WazirX wallet will receive USDT.
How to Sell Cryptocurrencies on WazirX?
WazirX provides a peer-to-peer platform that allows you to sell cryptocurrencies directly to buyers, but only as USDT since it is stable, secure, and hassle-free. Here are a few steps to start selling cryptocurrencies through WazirX –
- First, you should register on WazirX. If you wish to sell a cryptocurrency, you should have a bank account where the money will be deposited.
- After registering on the WazirX platform and when you are verified and registered, you can sell the cryptocurrencies in USDT. The next step would be to click the p2p from the menu and select the currency.
- At the bottom of the page, you need to select the USDT amount you would like to sell. You’ll be automatically connected to the buyers by the system, and when the buyer has paid, you should confirm with your bank. When the actual payment has been made, the USDT is released to the buyer.,
Why Should You Buy Cryptocurrencies from WazirX?
- WazirX was acquired by Binance in 2019 November, the world’s largest and leading cryptocurrency exchange. After this acquisition, WazirX has become an international cryptocurrency exchange, which means that crypto traders and Bitcoin investors around the world can use WazirX’s P2P platform.
- Wazir X provides optimum security, and it is a highly secure exchange.
- WazirX’s infrastructure can execute millions of fiat-to-crypto, crypto-to-crypto, crypto-to-fiat transactions.
WazirX is a cryptocurrency exchange where you can buy, sell, and trade with cryptocurrencies. It has become the most popular and leading cryptocurrency in India since its inception. It supports trading in more than 100 cryptocurrencies and uses a specialized peer-to-peer platform where buyers are connected to sellers directly, which eliminates the need for order books that are maintained in other P2P transactions. WazirX provides a powerful and seamless crypto trading experience and is one of the topmost reliable crypto platforms available on Windows, Android, and iOS.