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Introducing Enhanced User Data Collection for a More Personalized Trading Experience on WazirX

By May 23, 20232 minute read

We are thrilled to share that we have rolled out a significant update to our WazirX app!

Our primary aim is to comply with regulatory requirements while enhancing our users’ experience. Therefore, we will now be collecting additional data from our users beyond what is required for verifying KYC documents.

Our new guidelines require users to answer additional questions after uploading the necessary documents for KYC verification. 

The first question that users will be asked is about their occupation. This information can help us better understand our user base and provide them with more relevant services. The second question is about the user’s gender. By knowing more about our users, we can personalize the app’s user experience, making it more tailored to their preferences.

The third question is about annual income. By knowing more about our users’ income, we can provide more targeted bundles and offers that are better suited to their financial profiles.

The fourth question is about the user’s crypto trading experience. This information can help us offer more relevant content and educational resources to users who are new to trading. We believe that by providing the right educational resources and a better understanding of the crypto trading landscape, we can empower traders to make more informed and confident decisions.

The fifth and final question is a self-declaration statement. This statement confirms that the user is executing transactions on their own behalf and is fully responsible for all transactions made on their WazirX account. Users must also confirm that the funds they are using for trading have been acquired through legitimate means. This is to ensure that our platform is being used ethically and with full transparency.

Please note that this profile update is a one-time activity. Effective June 1, 2023, it will be mandatory for all users to have updated their profile in order to perform any activity on our exchange, including trading, deposits, withdrawals, and P2P transactions. Failure to update your profile by the provided deadline will restrict you from engaging in these activities on the platform.

We kindly request you to complete the profile update at the earliest to avoid any inconvenience or disruption to your trading experience.

At WazirX, we are confident that these additional questions we are asking our users can help us build a richer user persona and provide more personalized services and offers. We are committed to providing a more secure and personalized trading experience on WazirX, and this new feature is a small effort toward achieving that goal.

Data security is paramount to us, and we assure our users that their information will never be compromised.

We thank our users for their continued support and feedback as we strive to make WazirX better every day.

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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