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Major Changes Effective 1 April 2024
- Referral Rewards for INR Market Trades Only: Referral rewards will now be exclusively applicable on trades made in our INR market. This means that you’ll earn rewards on trades done by your referral in the INR/Crypto trading pairs alone. Referrals for non-INR markets will not be eligible for rewards.
- Referral rewards will be distributed in INR only.
- Monthly Disbursement Cycle: Moving forward, referral rewards will be disbursed on a monthly basis instead of daily. Rewards will be credited in the first week of the following month.
- 10% TDS Deduction During Monthly Payouts: To comply with regulations, a 10% Tax Deducted at Source (TDS) under section 194R will be deducted from your referral rewards during monthly payouts.
The WazirX referral program is meticulously designed to offer you opportunities to earn rewards. With this program, you can earn up to 50% of the trading fees that your friends pay on their trades in our INR markets as a reward. We firmly believe that this program will significantly boost your earning potential and empower you to become your own boss!
Conditions for Eligibility
To qualify for referral rewards, you must meet two conditions. Firstly, you need to have traded a minimum of INR 10,000 (in any crypto) in the last 30 days on WazirX. This ensures that you are an active user of our platform. Secondly, you will need to hold (HODL) WRX, our native token, to earn higher rewards. The quantity of WRX you hold will determine your referral reward percentage.
Additionally, there are other mandatory conditions:
- Only KYC-verified Indian users are eligible.
- Only users whose PAN is linked with Aadhaar are eligible.
- Users who are not specified persons under section 206AB of the Income Tax Act are eligible.
Referral Reward Calculation
Your referral reward percentage will be calculated based on the quantity of WRX held by you. Here’s a breakdown of the referral rewards rate based on the WRX holdings:
| WRX Holding | Referral Rewards Rate |
| 0 – 500 WRX | 0% |
| 500 – 10,000 WRX | 15% |
| 10,000 – 50,000 WRX | 25% |
| > 50,000 WRX | 50% |
The more WRX you hold, the higher your reward rate, giving you the incentive to accumulate more!
Let’s break down our referral program and see how it all fits together to help you earn more and enjoy a smooth experience.
Empowering Users
At WazirX, we highly value our users’ active participation and aim to reward them accordingly. With the potential to earn up to 50% of your friend’s trading fees through our referral reward system, we want to empower you to earn more from your referrals. We understand the value of your network and connections, and this program ensures that you can maximize your earnings.
Incentivizing WRX Holdings
By aligning the reward percentage with your WRX holdings, we aim to create a symbiotic relationship where you benefit from the growth and value of WRX. This incentivizes our users to accumulate more WRX, further strengthening the community.
Timely Reward Distribution
We acknowledge that prompt reward distribution is essential for an optimal user experience. Therefore, any rewards you earn through our referral program will be credited to your account on a monthly basis within the first week of the following month. This ensures that you can enjoy the benefits of your referrals without any unnecessary delays.
Consistent Reward Currency
To simplify the reward system, we have standardized the rewards to be credited in INR. This streamlined approach ensures a seamless experience and eliminates any confusion regarding reward currency.
Enhanced Referral Tracking
We strive to make it as easy as possible for you to track your referrals and their progress. When a friend signs up via your referral link, their email ID will be added to your “Referred friends” tab. This transparent system allows you to monitor activity and ensures you receive rewards as soon as your referral completes their KYC verification and starts trading.
We encourage you to take full advantage of this referral program to maximize your earnings and enjoy the benefits of being a part of our growing community. Don’t miss out on this opportunity to earn more with WRX and be your own boss!
Frequently Asked Questions
How much can I earn in this referral program?
You can earn unlimited rewards! Every time your referral trades in our INR market, you receive up to 50% of their trading fees (excluding GST) as a reward in INR. The more your friend trades, the more you earn. However, the referral reward is calculated based on certain conditions.
What are the conditions that need to be considered to be eligible for the referral rewards?
To qualify for referral rewards, several conditions must be met. Firstly, only KYC-verified Indian users are eligible, and it is imperative that their PAN is linked to their Aadhaar. Additionally, users must not fall under the category of specified persons as per section 206AB of the Income Tax Act. To earn referral rewards, a minimum trading threshold of INR 10,000 (in any crypto) must be met within the last 30 days. Furthermore, users are required to hold WRX to maximize rewards, with the reward percentage determined by the quantity of WRX held. Both these conditions are mandatory for eligibility. Additionally, users are advised against running ads with referral codes or engaging in self-referrals. WazirX reserves the right to cancel reward distribution in such instances at its discretion.
Please note that, from April 1, 2024, referral rewards will not be applicable for trades conducted in non-INR markets.
Is there any TDS applicable?
Yes, a 10% TDS is applicable under section 194R. For instance, if your eligible reward for the month is INR 100, INR 10 will be deducted as TDS. So, the net reward you receive will be INR 90.
When will the referral rewards be credited to my account?
Rewards will be credited on a monthly basis within the first week of the following month.
We’re excited to have you join this referral program. Start referring your friends today and maximize your earnings with WRX!
Disclaimer: We run the referral program with good faith, and WazirX reserves the right to make any changes to it without prior notice. We may modify the program in response to changing market conditions, security risks, or potential fraud. The decision on reward eligibility will be made by WazirX and is final and binding. By participating in the referral program, you acknowledge and accept the above terms. In case you suspect any fraudulent activity in the referral program, please contact us directly. We’ll investigate it promptly and take the necessary steps to rectify it. If we find any discrepancies, we will disqualify the associated accounts from the referral program and retract any rewards credited earlier.
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.
Referral amount