The WRX token, native to the WazirX crypto exchange in India, serves multiple purposes on the platform. These include providing discounted transaction fees, enabling participation in token sales, and facilitating rewards distribution. This article aims to explore the WRX token and the process of purchasing it in India during 2024.

History about WazirX

Established in 2018, WazirX is widely regarded as India’s most trusted crypto exchange, boasting approximately 15+ million users and listing nearly 300 tokens on its platform. WazirX’s objective revolves around democratizing crypto accessibility for individuals across India.

Key features include:

• Instant INR (fiat) deposit and withdrawal options.
• Availability of 300+ tokens.
• Quick Buy options for efficient transactions.
• Auto-matching Peer-to-Peer (P2P) engine for seamless trading experiences.

The WRX token operates as WazirX’s utility token, with an approximate total supply of 1 billion tokens. Token holders enjoy various advantages within the trading exchange, including discounted trading fees, WRX trade mining, token airdrops, margin fee benefits, and more.

5 Reasons Why You Should Invest in WRX

• Promising Project and Technology

A promising project and underlying technology are the first reasons to consider investing in the WRX token. WRX is the native utility token of WazirX, one of the leading crypto exchanges in India. WazirX has gained significant traction and popularity within the Indian crypto community, providing a reliable and secure platform for trading various cryptos. By investing in the WRX token, you are essentially investing in the success and growth of WazirX, which has the potential to yield substantial returns.

• Increasing Adoption and User Base

WazirX has been experiencing a rapid increase in user adoption and trading volume. The platform has established itself as a key player in the Indian crypto market, benefiting from the rising interest in cryptos within the country. As more individuals and institutions enter the crypto space, the demand for WRX tokens may surge due to their utility on the WazirX platform. Investing in WRX tokens can be seen as a bet on the continued growth of WazirX and its expanding user base.

• Token Utility and Benefits

WRX token offers several utility features within the WazirX ecosystem. Holding WRX tokens provides users with benefits such as lower trading fees, participation in token sales, and staking opportunities for earning additional rewards. These incentives can create a strong demand for WRX tokens as users seek to maximize the benefits offered by the platform. The potential for increased token utility and the associated benefits make WRX an attractive investment opportunity.

• Partnership and Integration Potential

WazirX has been actively seeking partnerships and collaborations within the crypto industry. Strategic alliances with other prominent projects or platforms can enhance the utility and value of WRX tokens. Additionally, the integration of WRX into various Decentralized Finance (DeFi) protocols or cross-chain interoperability solutions could further expand its use cases and appeal. Investing in WRX tokens allows you to benefit from future partnerships and integrations that drive the token’s value.

• Bullish Crypto Market Outlook

The overall bullish outlook for the crypto market provides a favorable environment for investing in tokens like WRX. As cryptos continue to gain mainstream acceptance and adoption, there is a growing interest in investing and trading digital assets. This increased market activity can positively impact the demand and value of WRX tokens. However, conducting your own research and considering market conditions before making any investment decisions is essential.

Now, let’s see how you can buy WRX tokens in India in 2024 and how to choose a good crypto exchange.

Here’s how you can buy WazirX tokens in India in 5 easy steps.

Buying WazirX tokens in India in 5 Easy Steps

Below are a few simple steps you can follow and buy the WRX token in India with WazirX, India’s most trusted and widely used crypto exchange.

The best way to buy WRX tokens is using P2P trade. To get answers to all your queries related to the P2P trade, click here!

Bonus point: INR Deposits are also LIVE on the WazirX platform. Now, you can buy WRX tokens using INR.

Step 1 – Sign-Up on the WazirX platform

To begin buying and selling WRX Crypto, you are required to create an account on the WazirX platform by signing up. Also, you can directly Log-in if you have an account already on the platform.

For your reference, here’s how you can open an account on WazirX.

Step 2 – Set up your account security by verifying your email address.

This step is about verifying your email address. After you sign up on the WazirX platform, you’ll get a verification link on your registered email. By clicking on that link, you’ll get two options to ensure the security of your account – the authenticator app and mobile SMS.

Note: The authenticator app is a more secure way to stay safe when compared to mobile SMS because there’s a risk of delayed reception or SIM card hacking.

Step 3 – Complete the KYC process.

After choosing your country, you can proceed with completing the KYC process. Click here for a detailed overview.

Note: You must complete your KYC to be able to trade P2P or withdraw funds on the WazirX app.

Step 4 – Add funds to your WazirX account using P2P.

After integrating your bank account into your WazirX account, you can buy USDT through P2P to the WazirX wallet. The USDT will act as funds to help you buy your favorite Cryptos.

Step 5 – Finally, buy WRX on WazirX.

You can now easily purchase WRX tokens using P2P trade on the platform. Check the WRX to INR rate from here and WRX to USDT here.

After logging in to your WazirX account, you can choose USDT from the “Exchange” tab. You can also check all the price charts, order book data, and an order input form on the right side of the screen.

Click “Buy” after entering the amount and checking the total USDT amount to be paid.

Your order will be placed according to the price you have input. A seller willing to sell at a price will be notified, and then you can exchange the tokens using P2P.

It might take a few minutes for the order to be completed, but as soon as it is executed, you will receive the WRX Coins you purchased in your WazirX wallet.

How to Choose a Good Crypto Exchange in India?

You need to do thorough research when using a crypto exchange to invest or for crypto trading in India. You must research the legitimacy of the platform and the credibility of the team behind it before deciding on an exchange to invest in WazirX tokens in India.

You should also ensure the platform provides the following before investing in WazirX tokens:

• The exchange’s website/app has a simple user interface and is easy to use.
• The exchange supports WazirX token trading pairs.
• The exchange employs state-of-the-art security measures and does not compromise when it comes to regularly upgrading it. Try to avoid exchanges that do not have a KYC protocol in place.
• The exchange offers reasonable trading fees to buy crypto in India.

6 Reasons Why You Should Choose WazirX

#1 User-Friendly Trading Platform

WazirX is a crypto exchange platform that prioritizes user-friendliness and caters to beginners. With its impressive trading volume, the platform offers seamless navigation and supports multiple languages, ensuring a smooth experience across all devices and applications.

#2 Advanced Trading Tools

WazirX provides its users with a range of advanced trading features, including comprehensive trading charts, powerful graphs, and various tools for spot trading. Notably, it has introduced an innovative Peer-to-Peer (P2P) transaction system that automatically matches buyers and sellers, facilitating instant transactions. Through this process, WazirX securely transfers escrowed USDT to the buyer’s wallet, ensuring the transaction proceeds smoothly.

#3 Transaction Speed

WazirX prides itself on its robust and scalable blockchain infrastructure, capable of processing millions of transactions within a remarkably short period.

#4 Security Features

WazirX implements a two-factor authentication (2FA) system to bolster security, providing an additional layer of protection to users’ accounts. The platform also employs a multi-signature wallet system and adheres to strict Know Your Customer (KYC) and Anti-Money Laundering (AML) guidelines. Notably, WazirX stores 95% of funds in cold storage, further enhancing security measures.

#5 Choose from the Pool of Top Cryptos

Currently, WazirX has approximately 300 cryptos, offering users a diverse range of options to explore and engage with.

#6 Referral Program

WazirX has a referral program, enabling users to earn rewards equivalent to 50% of the trading fees for every trade conducted using their unique referral code. All accumulated rewards for a given day are credited to the user’s account within 24 hours, enhancing the potential for additional earnings.

Happy Trading!

Disclaimer: Cryptocurrency is not a legal tender and is currently unregulated. Kindly ensure that you undertake sufficient risk assessment when trading cryptocurrencies as they are often subject to high price volatility. The information provided in this section doesn't represent any investment advice or WazirX's official position. WazirX reserves the right in its sole discretion to amend or change this blog post at any time and for any reasons without prior notice.