Month in review — February & March 2020

By April 7, 20204 minute read

Namaste Tribe! Grab some coffee before you start reading this post. This post contains updates from both February and March. Looking back, wow, our team has accomplished quite a lot in a couple months! 🙏

What happened last 2 months

[Done] WRX on WazirX: After a successful IEO on the best platform — Binance Launchpad — WRX finally got listed on WazirX on 5th February. You can buy, sell, trade WRX on WazirX in our INR, USDT and BTC markets. Read more

[Done] WazirX <> Binance integration: After weeks of hard work, WazirX and Binance integration went live. It’s a great thing for all Indian Binance users and here’s what you can do:

  1. Sign into WazirX with your Binance account
  2. Move USDT between WazirX and Binance instantly and for FREE. Read more

[Done] First airdrop for WRX holders on WazirX: In February, we also distributed the first ever token airdrop for WRX holders on WazirX. Chiliz gave away 525K CHZ tokens (worth ~$7,000) to top 1000 WRX holders on WazirX. 😍 This is the beginning, and many more airdrops to come for you.

[Done] WazirX <> Transak partnership: WazirX has partnered with Transak to power its INR fiat on-ramp. Transak is a leading DeFi app that aggregates fiat on-ramps from around the world. It is also backed by Consensys. WazirX P2P becoming Transak’s key partner for its INR on-ramp is our first step towards solving fiat <> crypto problem for the world. Read more

[Done] Trading fees update: We knew that maker-taker fee model can be confusing for a lot of you. So we decided to fix this, and simplify our trading fee model for you. We’ve replaced our maker-taker fee structure with a flat fee of 0.2%. You get 50% discount if you use WRX tokens to pay trading fees on WazirX. This means, you pay only 0.1% flat fee — the lowest trading fee in India on WazirX. 💪 Read more

[Done] WRX use cases live: We also took the two major use-cases of WRX live in February:

👉 Pay trading fee using WRX

👉 Get 50% trading fee discount if you pay fee with WRX

With 0.1%, you pay the lowest trading fee in India on WazirX. If you already have WRX reserved for trading fees, you’ll be practically trading for free 😎Read more

[Done] Instant INR Deposits & withdrawals: March 4, 2020, was a historic day for the ecosystem because crypto has won in India! Within a day of the Supreme Court striking down RBI ban, WazirX enabled INR deposits. And within a day of enabling INR deposits, our team also enabled INR withdrawals. As of today, you can make instant INR deposits and withdrawals on WazirX. It’s available 24×7!

👉 Instant INR deposits

👉 No need to enter transaction ID in instant deposits

👉 Withdraw up to ₹50 Lakh INR daily instantly

👉 Available 24×7

Now, let’s build up the liquidity in our INR markets together!

[Done] Blockchain for India Fund: WazirX and Binance announced $50 Million USD ‘Blockchain for India’ fund to invest in Indian blockchain startups and projects. 🚀 Calling all you entrepreneurs, go ahead and BUIDL! We’re here to help you. Read More

[Done] Support for Steem hard fork & HIVE airdrop: We fully support the Steem hard fork that happened on 20th March, and we’ll distribute the new HIVE Token to STEEM holders. Read more

[Done] Highest Trader Kaun for BTC/INR: ! With INR deposits and withdrawals back on WazirX, it surely called for a Highest Trader Kaun contest for Bitcoin. It was a day-long contest, and we gave away a total bounty of ₹1,00,000 worth Bitcoin 💰 Read more

[Done] Lowest USDT withdrawal fee in India: You asked, and we listened! WazirX now has the lowest USDT withdrawal fee in India starting at ZERO!

👉 WazirX to Binance USDT withdrawal is instant and FREE — like it’s been since Day 1

👉 Standard USDT withdrawal fee is now 1.5 USDT. Read more

What we’re building

TradingView chart: Yes, better charts are coming for you soon. It’s a work in progress, and we’ll share an update with you soon.

New tokens: We’ll be listing more tokens on WazirX in the coming weeks. Got any suggestions? Please tweet to us @WazirXIndia

Liquidity in INR market: We’ll also add more pairs in INR market. Let’s work together to build liquidity in our INR markets.

Some highlights

  1. We turned 2: Thank you for supporting us and helping us become India’s most trusted exchange. Here’s to involving more Indians into the blockchain revolution!

2. March 4 — when crypto won in India!

3. In March, our daily volume grew by 475% 🚀

4. Our Twitter and Telegram community became 20,000 strong 🙌

5. WazirX and Binance’s ‘Blockchain For India’ fund news got picked up around the world 👏

Something to add

March was volatile for crypto as well as traditional stock markets around the world. These are very testing times, and everyone around the world is fighting hard against Coronavirus. At WazirX, we’ve been working remotely for almost a month. To do our bit, we’re donating ₹1,00,000 INR to our PM-CARES fund to help fight the rising Coronavirus in India. In the meantime, I hope you all maintain social distancing and stay safe.

Jai Hind 🇮🇳

Nischal Shetty, CEO — WazirX. On a mission to involve everyone in the blockchain revolution! Follow me on Twitter
*Above content is migrated from medium to wazirx blog
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.
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