Review of WazirX

WazirX is a cryptocurrency exchange platform based in India. It offers peer-to-peer trading of more than 100 coins and lets you instantly convert fiat currencies into crypto.
By: Theodor Tonca
Theodor Tonca
Having worked for a decade as an analyst, investment partnership founder, and writer - Theodor is a keen sportsman. When not… read more.
Updated: Jun 4, 2021
2.5/5 Star rating
14 min read
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WazirX is owned by Binance, which is the largest cryptocurrency exchange in the world. That reputation backes up the platform, which is aimed more at beginner or intermediate traders rather than advanced ones. Keep reading to learn more about WazirX.

Pros & Cons

Pros:

Wide range of coins available
Wholly owned by the Binance exchange
Has a referral program

Cons:

What can I do with WazirX?

WazirX enables you to buy, sell, and trade over 120 cryptocurrencies and over 175 coin pairs through a simple trading platform that is available across desktop, web, and mobile devices.

That platform is easy to use and efficient in its design, with lightning fast, secure transactions, and is built by an experienced blockchain team. WazirX also features a peer-to-peer crypto exchange which allows you to instantly buy and sell coins.

WazirX cryptocurrencies and trading options

What cryptocurrencies can you trade on WazirX?

WazirX enables you to trade coins across the whole cryptocurrency spectrum. That means you can buy and sell the leading coins, like Bitcoin and Ethereum, all the way through to smaller altcoins, depending on your trading style.

Major cryptos traded on Poloniex

  • Bitcoin
  • Bitcoin Cash
  • Tether
  • Year.finance
  • Ethereum
  • TRON
  • Litecoin
  • Matic Network
  • Swipe
  • Serum
  • Band Protocol
  • XRP
  • Ankr
  • Uniswap
  • Fantom
  • Cardano
  • Fetch.ai
  • Aave
  • Cartesi
  • OMG Network

WazirX core currency pairs

  • BTC/USDT
  • LTC/BTC
  • BNB/BTC
  • POE/BTC
  • REQ/BTC
  • TRX/BTC
  • REN/USDT
  • DENT/USDT
  • BLZ/USDT
  • CHR/USDT
  • QTUM/USDT
  • XLM/USDT
  • SNX/USDT
  • ZEC/USDT
  • CTSI/USDT
  • LSK/USDT
  • AAVE/USDT
  • COTI/USDT
  • ADA/INR
  • LOOM/USDT

All WazirX trading options

WazirX gives you access to a good range of crypto coins, tokens, and pairs. However, no futures or derivatives are offered at this time.

ProductOffering
Cryptocurrencies121
Crypto pairs175
See all assets >

Can I trade with leverage on WazirX?

No, WazirX doesn’t currently provide any leveraged trading options for either coins or pairs.

What are the spreads?

Instead of commission spreads on each trade, WazirX charges fixed maker/taker fees on each transaction. These start at 0.20% on each side for every pair.

Fees, limits, and payment options on WazirX

What are the deposit and withdrawal fees, limits, and speeds?

WazirX offers a wide assortment of crypto deposit and withdrawal options, all with their own minimums, maximums, and fees. 

Payment methodDepositWithdraw
Bitcoin
– min/max
– fees
– speed
Yes
0.0001 BTC/no limit
Free
Instant
Yes
0.0001 BTC/3 BTC
0.0006 BTC
Instant
Debit/Credit Card
– min/max
– fees
– speed
Yes
0.0001 BTC/no limit
Free
Instant
Yes
0.0001 BTC/0.0004 BTC
Free
Instant
UPI
– min/max
– fees
– speed
Yes
None/₹1 lakh
Rs. 2.5
Instant
Yes
None/₹1 lakh
Rs. 2.5
Instant
Paytm
– min/max
– fees
– speed
Yes
None/Rs. 3,000 per 24 hr. period
2.0% (Visa & Mastercard payments)
Instant
Yes
None/Rs. 3,000 per 24 hr. period
2.0% (Visa & Mastercard payments)
Instant
See all deposit and withdrawal fees >

WazirX trade sizes and limits

WazirX offers low minimum trade sizes with no maximum amounts displayed on its site. This stacks up very well against other crypto brokers who perhaps have much more stringent maximum trade limits.

ProductMinimum tradeMaximum trade
Cryptocurrencies0.0001 BTCNone
See all trading limits >

WazirX trading platform

What devices can I use WazirX on?

WazirX’s trading platform is available across all mediums – Web, Android & iOS mobile, Windows, and Mac apps.

  • PC desktop
  • Mac desktop
  • Web
  • Tablet
  • iOS mobile devices
  • Android mobile devices

Can I use WazirX in my country?

WazirX is available in over 190 countries, including the United States, Japan, Canada, and the United Kingdom. You can select your country from the list below to see if the service is available to you.

Is WazirX available in my language?

Currently WazirX support is only available in English with no other languages being supported.

How easy is it to use WazirX?

WazirX’s proprietary trading platform is very accessible in that it has a clean, organized layout that will be very familiar to anyone that has previously used an online broker.

The platform is available online, for download on Windows PC’s and MacOS as well as via a mobile app for both Android and iOS devices. It retains its functionality across these various platforms due to its simple, efficient design, and fast transaction speeds.

Key features

WazirX enables you to buy, sell & trade crypto currencies with ease, confidence, and trust. It also has some other features as shown below.

Peer-to-peer exchange

WazirX enables you to easily convert fiat to crypto, simply place an order and you will be instantly auto-matched with a seller, the seller will confirm your payment, and WazirX will release the escrowed funds.

WRX token

WazirX has developed its own utility token the WRX coin, of which only 1 billion will ever be created. You can mine the coin, use it to pay your trading fees on WazirX, and also earn it by performing actions on the WazirX exchange.

Referral program

WazirX’s referral program enables you to refer friends and earn up to 50% commission on their trades. You get your own unique tracking link which you can then share and earn daily payouts.

Security and regulation

Is WazirX safe?

WazirX carries all the standard security features that one would expect from an online broker today, such as Two-Factor Authentication (2FA) for every login attempt and encrypted deposits and withdrawals.

Am I and my cryptocurrency protected?

WazirX does not carry any deposit insurance nor does it have an insurance fund that acts as a reserve pool, since it does not currently offer any leveraged trading.

Is WazirX regulated?

WazirX is not currently regulated by any financial authority in India, where it is based or by any other recognised financial authority elsewhere.

Do I have to verify my account with WazirX?

Yes, WazirX adheres to the Know Your Client (KYC) protocol, so you will be asked to upload a valid National photo ID card, a selfie of you holding up your ID document as well as a secondary piece of ID such as a utility bill with your address on it.

Extra information

Educational resources 

WazirX does not provide any educational resources beyond its support section, which primarily answers questions and provides article guides on the platform’s technical features.

The crypto broker’s blog does provide some beginner’s guides to DeFi and Bitcoin whitepapers apart from news and announcements.

Tools and charting

WazirX offers a fairly standard, yet accessible set of trading tools and charts. From multiple chart timeframes – 1 minute to 1 week, up to the millisecond quotes, and a comprehensive market depth and order book view.

This is enough if you are just starting out on your trading journey, but it may leave more professional traders wanting more.

Customer support

WazirX offers a Help Center section on its website that answers many frequently asked questions. Apart from this, you can submit a ticket to its customer support team which is operational from 4:30 AM – 13:30 PM UTC, Monday – Sunday.

Our verdict

WazirX is one of India’s most trusted cryptocurrency exchanges, where you can buy, sell, and trade over 120 coins and tokens. It’s fully owned by the Binance exchange, so you can trust the platform is reputable and will take care of your money.

It’s proprietary trading platform is simple in terms of the feature and toolset offered, yet accessible for new traders with a clean, easy to use interface. There is also a peer-to-peer (P2P) exchange, which enables you to instantly convert fiat to crypto with an auto-matching feature for free, as there is no transaction fee. 

While WazirX lacks some basics such as leveraged trading and comprehensive educational resources, it is a good choice as an exchange for all bar the most advanced traders.

How to buy and sell cryptocurrency with WazirX

How to buy crypto on WazirX

  1. Click on Exchange at the top of your screen
  2. Enter the price and amount of the coin you want to buy
  3. Click on the “Buy” order button

How to sell crypto on WazirX

  1. Click on Exchange at the top of your screen
  2. Enter the price and amount of the coin you want to sell
  3. Click on the “Sell” order button
Who owns WazirX?
How does WazirX make money?
Do I have to pay tax on WazirX profits?
How do I delete my WazirX account?
How can I short on WazirX?
What if I forget my account password?
Can I transfer from my WazirX account into my PayPal account?
What if WazirX closes down while I have open trades?
Can I access my full trading history on WazirX?
Can I pay in cryptocurrency with WazirX?
Does WazirX offer bonuses?
How do I transfer from Coinbase to WazirX?
Is WazirX anonymous?
Does WazirX have an integrated wallet?
How do I withdraw from WazirX?
Has WazirX ever been hacked?

Fact-checking & references

Our editors fact-check all content to ensure compliance with our strict editorial policy. The information in this article is supported by the following reliable sources.

Risk disclaimer

Invezz is a place where people can find reliable, unbiased information about finance, trading, and investing – but we do not offer financial advice and users should always carry out their own research. The assets covered on this website, including stocks, cryptocurrencies, and commodities can be highly volatile and new investors often lose money. Success in the financial markets is not guaranteed, and users should never invest more than they can afford to lose. You should consider your own personal circumstances and take the time to explore all your options before making any investment. Read our risk disclaimer >

Theodor Tonca
Financial analyst
Having worked for a decade as an analyst, investment partnership founder, and writer - Theodor is a keen sportsman. When not working, he can most commonly… read more.

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