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Trading Week 2 update: When XRP + Highest trade day ever + Instant withdrawals

By March 26, 20184 minute read

Namaste Tribe! We’ve had yet another successful week since we started the WazirX trading platform 2 weeks ago. I know, it’s a bear market but your support in helping build WazirX has been phenomenal! I’m going to make sure all our early traders are rewarded for the help. I’ll announce rewards at a later time for those who help us at this stage. You’ll have to wait and watch and remember this “We never forget”.

We’re going to hit two major milestones this week and I’ll announce as it happens. I don’t want to spoil the surprise right now.

REMEMBER: Until April 1st, 2018, there is absolutely NO FEES on Buy and Sell. I would urge you to make the most of this opportunity.

What happened last week

  1. [Done] Fast INR Deposits: Done and Done! We have instant INR deposits through UPI and there are no extra charges from our end!
  2. [Ongoing] Fast INR Withdrawals: We’re almost ready. Launching this week!
  3. [Ongoing] Start work on integrating new coins: Work is on full swing now! XRP is coming and expect more coins every week.

What we’re building this week

  1. Ripple (XRP) trading starts TOMORROW!!! Yes, you read that right. We will start XRP deposits at 5PM tomorrow 27th March and trading starts at 7PM the same day. The most requested coin is here. Let’s trade more!
  2. [Ongoing] Instant INR Withdrawals: We’ll be announcing Instant INR withdrawals this week. Stay tuned. Withdrawing money was never this easy or fast.
  3. Maker — Taker model: We’re going to start work on a unique Maker — Taker concept as part of our trading fees structure. We don’t have a launch date for this yet but we’ll keep you informed. This would be a very innovative take on the maker taker concept and I’m sure you’ll love it. I’ll also announce our trading fees some time this week.
  4. Reducing BTC withdrawal fees: We currently charge 0.001 BTC for withdrawals. We might have some time this week to look into it. We’ll be reducing it very very soon.
  5. Android and iOS order book indicator: We’re bringing order book indicator on our iOS app and Android app this week. With this, you will be able to see an indicator for your active orders on the market order book. It will have a green/red dot based on the order type. Here’s a sneak peak in the image below. This feature will help you keep track of where your order is on the market. This information will help you figure out your next steps in getting your order executed.

WRX update

Since we’ve been busy with the trading platform, we’ve not had the bandwidth to work on WRX. The winner announcement of Alpha Round 2 is pending as well. We’ll announce when we start work on this but we would need more time. Be rest assured, we will build out all the necessary features needed for WRX as well as announce all the use cases of WRX at the right time. But at this point, we should concentrate on building out the trading platform as WRX gets more value only if the trading platform performs well and gets huge trading volumes.

Some achievements last week

  1. Highest volume day: We had a peak 24 hour total trading volume of over Rs. 25 Lakhs. That’s about double the highest 24 hour trading volume of Week 1. We’re growing and we’re growing fast. Let’s take this to Rs. 1 crore soon, tribe. We’re banking on you to help us do that.
  2. Total trades in week 2 increased by over 13% compared to week 1.
  3. Average rating on play store increased from 3.469 to 3.841. We’ve been consistently making our apps better every week.

Something to add

While volumes have been increasing steadily, our trading platform has been getting smoother and faster and more powerful. The reason why we’re focusing so much on our trading platform is because we want you to have the most powerful trading platform. It’s like this:

When you participate in a car race, you better have the most efficient & fastest car. When you participate in trading, you better have the most efficient and fastest trading platform!

As we grow, more Indians join the blockchain revolution. This is great for the country and for the blockchain eco-system. Keep inviting more friends and family and keep accumulating more WRX coins. You’ve seen us execute but this is just the beginning. We’re the youngest exchange in India but people all over are already aware about WazirX. Imagine what we can achieve as we move ahead and that will give WRX great value as well. This is your chance to jump in early and accumulate as much WRX as you can with just hard work!

We’re India’s most trusted cryptocurrency exchange and we want to be India’s largest. With you by our side, we’re confident we’ll achieve this.

Jai Hind!

Nischal Shetty, CEO — WazirX. On a mission to involve every Indian 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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