Skip to main content

Month in Review — July 2019

By August 5, 20194 minute read

Namaste Tribe! July was a roller-coaster with the market volatility, the IMC report, but with BTC crossing $10,000 again, and the kind of things we have in store for you, I’m bullish about August! 🙌

[Complete] WRX milestone 1 ✅

Reach 50 BTC consistent daily trade volume

With your support, we finally achieved our Milestone 1 of consistently crossing 50 BTC in daily trading volume in June. We have grand plans for WRX, and we have started working on it. Have patience, and we’ll reveal it to you very soon. Remember, good things come to those who wait. 😎

What happened last month

[Done] WRX mining update: We have completed one year of launching India’s largest mining rewards! We’re so happy to share with you that we’ve given away millions of WRX so far. Leveling up the game, we’ve raised the mining difficulty of WRX by halving the bounty rewards. It came into effect for trades performed after 2nd July 11:59 PM IST. We’ll further reduce the mining rewards in future, so right now is the best time for you to trade, unlock and earn WRX! Click here to view the revised WRX trading slabs. Happy trading! 🚀

[Done] 26 new tokens: In July, we listed 26 new tokens as a part of our Rapid Listing Initiative. You can now buy, sell, trade ALGO, LINK, ETC, QTUM, MIOTA, ZEC, FTM, WAVES, ENJ, STEEM, XVG, LSK, FUEL, REP, LOOM, MANA, BLZ, NANO, XZC, SC, BTG, XEM, BTS, ARDR, STRAT, NAS in our USDT market. We’ll be listing many more tokens in the coming months, and are super excited about it!

[Done] Interesting Twitter contests: Along with token listing, we also had interesting “retweet and win” twitter contests, and we’ve given away prizes worth over ₹25,000. Make sure to follow us on Twitter and participate in future contests here.

[Done] Updated our USDT token blockchain: We have updated our USDT token blockchain, and moved USDT deposits & withdrawals from Omni to ERC20 standard. Hereon, we also recommend you to deposit USDT belonging to ERC20 address. Read more

[Done] New YouTube series: Good news, we’re starting a brand new YouTube series in English called “Crypto Exposed”! We had to postpone our first episode of Crypto Exposed with our guest, Dominik, co-founder, IOTA. We’ll post an update with a new schedule very soon.

[Done] WazirX P2P in 4 new countries: WazirX P2P is now available in Italy, Nigeria, Saudi Arabia & Turkey. You can now deposit and withdraw EUR (in Italy), NGN (in Nigeria), SAR (in Saudi Arabia), and TRY (in Turkey) via WazirX P2P for free! The list of countries with WazirX P2P keeps getting bigger. If you want us to bring P2P to your country next, tweet to us @WazirXIndia.

Try out the cheapest, fastest & simplest way to convert fiat to crypto now!

👉 World’s first auto-matching P2P 💪
👉 Zero fee
👉 Absolutely safe

[Done] BTT airdrop: We have successfully distributed the monthly BTT airdrop to all the eligible TRX holders for the month of July.

What we’re building

[Ongoing] More new tokens: We plan to list more tokens in August! If you want us to list your favourite tokens first, tell us about it, and we’ll try to make it happen for sure! Tweet your suggestions to us here.

[Ongoing] TradingView chart: We know you have been wanting it, and your wish is our command. Our team has started working on bringing TradingView charts to WazirX. Stay tuned!

[Ongoing] Top-secret project: Something super exciting is cooking in our labs, and you’re going to love it! It is groundbreaking, and never done by anyone in the crypto ecosystem before. We can’t talk more about what it is because it will ruin the fun. We’ll share more updates about it soon.

Some highlights

  1. Last month, I went live with India Ahead News to talk about IMC crypto ban proposal. It is the first national news to invite the crypto industry’s point of view. Let’s spread this everywhere!

2. We have crossed 6,000 reviews on Google Play Store! ⚡️

3. Good reviews like these 👇

Something to add

Last month, the inter-ministerial committee (IMC) shared its report and recommendation on crypto. However, the recommendation has to pass through several stages before or if it becomes a law. I have written a post about how the IMC report is fundamentally flawed, and you can read it here.

If you’re holding funds on WazirX, there’s no need for you to panic. WazirX is an international exchange registered outside India, and will continue to operate. Holding crypto on WazirX is similar to holding crypto on any other international exchange. The effect of India-specific regulations on WazirX will be the same as on any other international exchange.

The release of this anti-crypto recommendation has brought us at a critical point in the crypto revolution. As an industry, we need to come together and act now to make sure that our government doesn’t accept this undemocratic and draconian proposal. Here’s how we can make our voice heard:

  1. Tweet to government about positive aspects of crypto using #IndiaWantsCrypto and tag our ministers.
  2. Write on publications, your own blog, upload youtube videos pointing out the flaws in the IMC report.
  3. Write physical letters to your local MP’s, our Finance Minister, and Prime Minister explaining why this IMC report is flawed. Very soon, we’ll also share a draft that you can use in the letter.

If we don’t act now, it will be too late, and we will pay a huge price for it. Go out, bust all the misinformation, and let’s fight together because it’s now or never!

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.
Participate in the Indian Crypto Movement. Share:

Leave a Reply

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.