How to use WazirX | WazirX trading time | How to trade on WazirX | WazirX customer care number | WazirX trading time in India | WazirX fees | Is WazirX legal in India | WazirX Office Address | Is WazirZ safe
Dear viewers today, in this article we will show you how to trade on WazirX. Actually, how to use WazirX exchange along with common questions like trading time, head office address, customer care number, and legality in detail.
So, friends first step of trading is to learn deposit and withdrawal money from exchange. We have published a detailed article on it. Please read carefully:
If you read the above article, I am sure you have understand the process of deposit and withdrawal. Let’s come on our main topic how to trade in WazirX.
Before proceding to trading, I would like to tell you what is crypto trading and what are crypto trading pairs?
What Is Crypto Trading:
Friends crypto trading is a process of buying and selling cryptocurrency with fiat and another cryptocurrency. Each exchange offers some pairs of currency like BTC/USDT or USDT/BTC, INR/USDT, BUSD/BNB, etc.
Trading Pairs Meaning
Meaning of BTC/USDT is you can buy USDT ( Tether ) with BTC Bitcoin cryptocurrency. Meaning of USDT/BTC pair is you can buy Bitcoin cryptocurrency with USDT coin.
In pair first currency is used to buy the second currency. So, everything is clear now we can start learning how to trade on WazirX exchange.
How to Trade on WazirX
WazirX exchange four main currency INR, USDT, WRX and BTC that can be used to pair with more then 100+ cryptocurrencies.
INR is Indian fiat currency. INR can be paired with 46 cryptocurrencies. We can take direct withdrawal to Indian bank accounts through UPI and NEFT, RTGS, IMPS transfer.
In the same way USDT is Tether cryptocurrency. Price of this crypto coin is almost similar to USD and remains stable through out the time. On WazirX exchange USDT can be paired with 140 cryptocurrencies.
WRX is WazirX exchange native token. Recently it is opened for trading other cryptocurrencies. At WazirX almost 13 crypto currencies can be paired with WRX token for trading.
BTC is the 4th and last cryptocurrency that offer trading pairs with more then 31 cryptocurrencies.
New coins are being listed on WazirX exchange on daily basis. So, you can trade your favourit cryptocurrency on this most popular exchange.
Now I will tell you how to trade crypto with INR pair on WazirX.
How to trade on WazirX with INR
Now click on Exchange tab on in your account menu and select INR option.
Click on the coin what you want to buy and sell.
How to Buy BTC on WazirX
Suppose I want to trade BTC then I will click on BTC. In the right side Buy/ Sell option click on buy button.
You will see At Price, Amount BTC and Amount INR options.
- At Price,
- Amount BTC
- Amount INR
In AT PRICE tab you will see current price filled automatically. Enter the price on which you want to buy BTC.
Amount BTC is for selecting the BTC quantity. Like you want to buy 0.2BTC or 1BTC then enter the value.
Amount INR will be filled automatically in the amount tab. Click on Buy button.
Now your buying order will be placed. You can track this in Open Order tab. When price will reached to the given value, your order will be executed.
And congratulation! your first trade is complete. In this trade WazirX exchange will deduct 0.2% trading fees from your INR portfolio balance.
How To Sell BTC On WazirX
Process of selling BTC on WazirX is same as buying.
First of all click on BTC under Exchange>INR>BTC.
Now click on sell button right to the buy button. When you will click on sell button. All 3 options will be in front of you.
- At Price,
- Amount BTC
- Amount INR
At Price will be filled automatically from the exchange. You can change this value for selling BTC on higher or lower price. Supose current price of Bitcoin is 50,00,000INR. And you want to sell it on 5500000INR.
In this case chase the current value with 50,00,000INR with 55,00,000INR and click on sell button. Your selling order will be placed which can be checked under Open Order tab.
Now wait for the price surge. When price will reached to the defined value. Your order will be executed and INR balance will be reflected to the portfolio.
How to trade on WazirX With USDT
This process is very simple similar to the INR trading as we discuss above in our article. But main question is how we will get USDT in our portfolio.
So, as we describe BTC trading, you have to trade INR with USDT. Place an buying order of INR/USDT for buying USDT. When this order will be cleared, your portfolio will reflect USDT balance.
Now you can place USDT/BTC or USDT/ETH,… and any other cryptocurrency pair for trading.
How to trade on WazirX With WRX
This process is also similar to the USDT trading process. Just make sure that you have WRX in your funds portfolio.
If you don’t have any WRX then trade INR/WRX and buy some WRX tokens. After buying WRX you can trade WRX/BTC, WRX/ETH, WRX/ any other available coin.
How to trade on WazirX With BTC
This process is also similar to the USDT and WRX trading process. Just make sure that you have BTC in your funds portfolio. If not first of all place an order INR/BTC for buying BTC with your INR balance.
When your buying order will be executed you BTC will be ready for making trading pairs with other cryptocurrencies.
WazirX Trading Time in India
WazirX exchange runs 24X7. You can trade any time when you want. There is no holiday, no restriction. You can trade as much as you want.
WazirX Trading Fees
As per the other cryptocurrency exchanges, WazirX also, takes some trading fees from its investors.
WazirX deduct 0.2% trading fee from each of their trades. If you will cancel your order without execution, no fee will be deducted from your account.
If you feel 0.2% trading fee is high then you can reduce it by 50%. For this you have pay your trading fee with WazirX own WRX token. Check the process of reducing WazirX trading fee by 50%:
Go to your profile. Select fee option. Click on pay with WRX button. This will reduce you trading fee by 50%.
Is WazirX safe [ Legal In India ]
WazirX is the largest crypto exchange in India. It has proper management and proper plan for professional execution. Due to it’s high demand features and service Binance acquire it.
Now Binance is the parent exchange of WazirX exchange. Hence we can see WazirX is safe exchange.
Since Supreme Court remove the ban from crypto currency payment, any one can deposit and withdrawal money from bank account to crypto currency exchange.
As per the Article 10A all Indian people are free to do business of their choice. Hence WazirX exchange is completely legal in India.
You can visit their office in India.