But the concept of WazirX’s P2P model is different, according to them, they not only make transactions with banks, but according to their model, a person can exchange currency with another person, this is Wazirx’s job only to see that both parties do not manipulate their transaction .
Note. WazirX P2P is also a decentralized fiat money exchange with automatic order matching, traders are in full control of their fiat funds.
What Is Wazirx
Friends, we inform you that you can exchange bitcoin or other digital currencies by downloading the wazirX app from the Google Play Store. WazirX is the most trusted and secure cryptocurrency trading app for buying and selling Bitcoin, Ripple, Ethereum, Tron, Zilliqa and 100+ cryptocurrencies.
The WazirX cryptocurrency trading app for Android is simple to use, with an intuitive interface, including real-time open orders, stop-limits, TradingView charts and trading history so you can trade and invest in some of the most efficient digital assets in the world . .
WazirX offers a powerful and convenient trading experience across all platforms – Web Apps, Mobile Apps, Windows and Mac WazirX offers the highest referral commission with the highest payout.
This review of WazirX shows that WazirX is a fast growing trading and exchange platform from India with a reasonable transaction order book, trading fees and growing crypto trading volume. First of all, WazirX is one of the best cryptocurrency exchanges in India, dealing with other cryptocurrencies and fiat currencies.
The WazirX exchange offers a range of cryptocurrencies. Over 100 cryptocurrencies are available for trading on the WazirX platform. You can use your WazirX account to access the spot market and search for the cryptocurrency you want to buy.
WazirX is the largest and most popular cryptocurrency exchange platform in India. Wazirx is the first and only cryptocurrency exchange in India that allows Peer-to-Peer (P2P) crypto transactions. Sameer Mhatre, Nishal Shetty and Siddharth Menon, co-founders of Indian cryptocurrency exchange WazirX.
Their timing coincided with the advantage in cryptocurrencies and, in particular, in bitcoin. The Rise of Cryptocurrency Exchanges in India High inflation rates in India coupled with restrictive and unsustainable investment regimes have presented a great opportunity for forward-thinking entrepreneurs to start cryptocurrency exchanges in India.
You can invest in cryptocurrencies without sacrificing security thanks to revolutionary platforms like WazirX. The WazirX exchange was created by a team of avid traders and blockchain enthusiasts.
Even though it is an unregulated industry, thousands of investors are joining it. WazirX is one of the oldest cryptocurrency exchanges in India, operating since 2017. Subsequently, in November 2019, Binance, the largest cryptocurrency exchange in the world, acquired WazirX. Mumbai-based cryptocurrency exchange WazirX has launched a P2P cryptocurrency transfer solution allowing cryptocurrency enthusiasts to continue buying and selling cryptocurrencies.
How It Works ?
WazirX P2P allows you to buy and sell USDT directly with other buyers and sellers, using the WazirX platform only as a means to match you with the right buyer or seller at the time. With WazirX P2P, you can easily buy and sell USDT in Indian rupees directly with other buyers and sellers. WazirX is for those who want to buy USDT at INR and want to sell at USDT INR.
When the seller confirms the payment, WazirX transfers the USDT to the buyer. At the other end, the buyer pays the seller Indian rupees; as soon as the seller confirms receipt of the payment, WazirX transfers the cryptocurrency to the buyer. WazirX holds USDT in escrow for safekeeping at the time of approval and initiation of a trade to prevent false transactions or fraud. After the transaction is completed, the WRX you purchased should be added to your WazirX wallet.
It is very easy to transfer cryptocurrencies to your WazirX account from your wallet or other exchanges. If you want to send INR to your bank account, you can sell your cryptocurrency as USDT and then sell that USDT as INR via p2p. Cash Out – If you want to trade cryptocurrencies with INR, buy USDT via P2P, then use that USDT to buy other cryptocurrencies on WazirX. Currency-pegged cryptocurrencies are generally a safer bet if you want to invest in stable cryptocurrencies. Once you have USDT in your account, you need to use WazirX P2P to convert fiat to USDT and then use USDT to buy any cryptocurrency on the platform.
So you have to enter the INR price, let’s say 78 which is how much you want to buy and how much USDT you want to buy, let’s say 15 which is Rs 1170.
After clicking the “Buy” button, automatic matching with Distributors begins. In this video, you have to go to the WazirX platform first, then to the P2P (Peer to Peer) option, after which you can see a window where you can see your open and completed orders. In the upper right corner, you can see the “Add Favorite Buyer” field. To instantly trade and invest in your favorite digital assets on WazirX, you can also choose the QuickBuy option.
How to invest in cryptocurrencies on WazirX? There are many cryptocurrency exchanges popping up, and it can be overwhelming. WazirX exchange reviews show that WazirX is a centralized cryptocurrency exchange based in India. Launched in 2018 with co-founders Samir Mhatre and Siddharth Menon, the company leverages a growing number of retail traders to invest in cryptocurrencies.
The platform suffered a setback shortly after launch when the RBI, India’s Mumbai-based financial regulator, announced a banking ban on cryptocurrencies and set a three-month time limit to stop trading on all of these crypto exchanges. In June, the owner of WazirX Binance was banned from engaging in any regulated business in the UK. In June 2021, WazirX receives a valid notice of legal action from app management for a cryptocurrency transaction worth Rs.
According to a recent Supreme Court ruling, WazirX is completely legal and the platform can be used to buy and sell a variety of cryptocurrencies. WazirX does not currently allow short selling of cryptocurrencies on its trading platform. You can use your WazirX account to buy Bitcoin (BTC) with Indian Rupees deposited into your WazirX account. WazirX also has the highest liquidity in the Indian INR (fiat) market.
While there are slight differences between ZebPay and WazirX when it comes to supporting cryptocurrencies and the trading fees charged on their platforms, ZebPay offers intraday and spot crypto trading options while WazirX excels in services such as exchange trading, peer-to-peer (Peer -to-Peer) P2P) and Smart Token Fund (STF).
WazirX’s proprietary peer-to-peer trading system is the first P2P auto-matching engine that automatically matches buyers and sellers instantly. P2P is WazirX’s (marketplace) automatic order matching mechanism where you can buy and sell USDT (Tether) using INR. In order to have a reliable P2P system, WazirX also checks the KYC details of all people using the platform so that you can trade easily.
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Update on March 3, 2022 @ 7:41 am