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Namaste tribe! Last week was explosive! We announced something crazy and we got a ton of you writing in about how happy you are about it.
For the first 24 days post the launch of WazirX, there will be absolutely no trading fees! Which means you can “buy” without any fees as well as “sell” without any fees.
We believe this will help us increase our trade volumes, which in turn will help bring in more liquidity for everyone to trade on WazirX. Increasing trading volumes is going to be a large factor in helping us grow WazirX and trade volumes will significantly impact the opening WRX coin will get whenever we decide to list it. So I hope all of you help us spread the word about WazirX so that we can become the largest crypto exchange in India in terms of trade volume sooner than later. This will be beneficial for everyone who holds WRX coins and help us take WRX to the moon!
What happened last week
(read previous week update here)
- All three platforms — iOS, Android and Web are almost ready for round 2 of Alpha testing! We’ll announce the exact date for round 2 of alpha testing soon on our Telegram and Twitter.
- Withdrawal OTP module — Done! We’ll have 2 step verification for withdrawal right from Day 1. Yay to more security!
- Referral Counter — Done! You can now track the number of friends who have used your referral link. Read more about it here.
- Major bugs found in alpha testing round 1 have been fixed
What are we building this week?
- Wrapping up minor bug fixes from Round 1 of alpha testing
- Readying the iOS, Android and Web apps for Round 2 of alpha testing
- A special bounty program to be launched (We’re not sure if we’ll be able to launch it this week, but we’ll try our best).
Three Big Surprises
- 24 days of FREE trading! Yes. No fees on Buy and Sell at all for the first 24 days when we launch our trading platform. Trade as much as you want. Even a small percentage jump in the value of any coin will now help you make profits because you don’t have to worry about paying trading fees.
- KYC approvals almost complete ✅ We’re proud to have achieved this. We ramped up our KYC team both in terms of team members and tech. The combination of this now let’s us verify 5,000 KYC applications per day with the ability to ramp this up to any number depending on demand. We’re now confident that we can achieve the 48 hours KYC approval promise. However, we’ll only be able to claim this once we really start getting a ton of applications post launch. We’re geared up though. Now it’s your turn to invite every one and see us approve KYCs in under 48 hours!
- Round 2 of alpha testing – We plan to launch Round 2 this week. Stay tuned for the announcement. This time, the winners will be decided in a very different and even more exciting way!
Things are heating up in the Indian crypto space. We’re gearing up for competition and we know together, with your support, we’ll be able to build WazirX into India’s most trusted crypto exchange. These updates we make are just a small step in that direction. We plan to launch more ways for you, our tribe members, to be involved in helping us shape WazirX!
Jai Hind!
*Above content is migrated from medium to wazirx blogDisclaimer: 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.
