Review on WazirX by Fanuel PORPORTY
What is wazirX?
WazirX is an Indian crypto exchange, launched on 8 March 2018. It is run by Nischal Schetty, Sameer Mhatre and Siddharth Menon.
On 21 November 2019, WazirX announced in an email to its users that it had been acquired by Binance. This made WazirX the first Indian crypto trading platform to ever be acquired by an international trading platform, further erasing national boundaries between players in the crypto world.
There are a large number of crypto exchanges based in India. In addition to this exchange, you also have Unocoin and ZebPay, to name a few. Most of them only offer trading in BTC however. The only Indian crypto exchanges with more than a dozen different cryptocurrencies traded are WazirX and ZebPay.
Pros
- With respect to liquidity, WazirX is still on its way up.
- The fees at WazirX are what we call flat fees, meaning that makers and takers are charged the same fee. WazirX's fees are 0.20% for both takers and makers.
Cons
- WazirX charges a withdrawal fee amounting to 0.0005 BTC when you withdraw BTC.
