The biggest cryptocurrency exchange in India is WazirX. It was founded in 2018, and since then, it has developed into the Indian cryptocurrency market’s most reputable exchange. It belongs to the Binance group, the largest cryptocurrency exchange in the world, which provides services to users in 180 nations.
A Comprehensive Guide to WazirX Cryptocurrency Exchange – 2023
With over 400,000 users and an average app rating of 4.6, WazirX, a cryptocurrency exchange that was launched in 2018, claims to be India’s fastest-growing exchange. In addition, ‘Blockchain For India‘, a $50 million fund, has been launched by WazirX and Binance. Key aspects of the exchange, which is accessible to a global audience, include:
- Options for immediate INR (fiat) deposits and withdrawals
- Discovering knowledgeable traders and letting them handling their cryptocurrency portfolio using Smart Token Fund
- World’s first high liquidity auto-matching P2P engine
- 80+ tokens
- Sign in using the Binance option
All of the above are important factors that make WazirX a prominent cryptocurrency exchange.
About Integration with Binance
The WazirX (WRX) platform was launched in 2018. Shortly after starting its activities, the platform attracted attention with its successes, and as a result, it partnered with Binance.
The platform’s cryptocurrency, WRX, has become more valuable every day and has shown a significant increase in trading volume. Recognizing this significant potential of the platform, Binance decided to include WazirX in its ecosystem in 2019.
Thus, WazirX is the first exchange platform to be acquired by an international platform. One of the most important features that allowed it to earn this title is that users can buy USDT directly with fiat currency on WazirX. This has made it easier for millions of users living in India to use cryptocurrency.
In short, through WazirX, millions of new users can become part of the crypto market. This leads to an increase in the value of cryptocurrencies.
Blockchain for India Event
Binance and the WazirX exchange have engaged in activities that fall under the purview of prior cooperation. They raised a 50 million dollar fund in full under the banner of an event dubbed “Blockchain for India.” This was how the WazirX exchange was launched, and it is still operating today.
History of WazirX
Nischal Shetty, Sameer Mhatre, and Siddharth Menon founded WazirX in 2018, and Binance purchased it in November of that same year. Web, mobile apps for Android and iOS, Windows, and Mac are the five platforms WazirX is available on. With a market share of between 60 and 70 percent and the largest NFT marketplace in India, WazirX was the leading digital currency exchange in India in January 2022. Digital art, music, and video games are all available on WazirX’s NFT marketplace, which focuses on artists who are new to selling their work online.
Tokenomics
WazirX makes use of the utility token WRX. The token is built on the blockchain of Binance. WRX‘s total supply is 1 billion. A variety of benefits, like trading fee reductions, WRX trade mining, token airdrops, margin fees, and more, will be offered to token holders by the trading exchange. At the time of writing, WRX is trading at $0.08202, according to CoinMarketCap. The token price has decreased by 1.06% in the last 24 hours.
Which Currencies are Available on the Platform?
Currently, the user has access to more than 250 cryptocurrency pairs and more than 200 crypto coins. Popular coins that are readily accessible include:
- Bitcoin (BTC)
- Ethereum (ETH)
- Litecoin (LTC)
- Cardano (ADA)
- Solana (SOL)
- USD Coin (USDC)
- Polkadot (DOT)
- Dogecoin (DOGE)
- Polygon (MATIC)
- Uniswap (UNI)
As you can see from the currencies listed, the range of the platform is quite wide.
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