WazirX is India’s top cryptocurrency exchange. Many new beginners are coming to it and trading many tokens here. But some out of them have doubts about WazirX is safe or not.
So, today! here we will give you a short WazirX review about the safety and security of investors. WazirX is safe or not for investors from worldwide. They have 2 factors authentication by mobile and Google app and KYC for newcomers.
Let’s see everything in detail:
WazirX is Safe Or Not
I am explaining their security points.
2 Factors Authentication For Login
When we try to log in to the WazirX exchange they ask for two factors authentication. On signing in first of all you will receive an OTP on your mobile. Just enter it. And then it will ask you to verify the email OTP.
Just open your email address and open your current email received from WazirX. After successful OTP verification, you can access your WazirX account.
Bank Verification For Deposit And Withdrawal
When we make our account on the WazirX exchange it asks to enter our bank details for verification purposes.
After this, they send 1 rupee to our bank for verification.
If everything is alright, the user can deposit money to WazirX. Hence banking security is amazing. The only verified bank account is used to deposit and withdraw money from the bank account. It is from the security point of view.
KYC for Withdrawal
WazirX exchange is highly secure. You can deposit funds after bank verification. But withdrawal required KYC verification. KYC verification process takes 1-2 days for processing your identity and address proof documents. Then only you can withdraw funds from the exchange.
OTP Required For Withdraw
Bank verification is enough for deposit funds. But to withdrawing funds, you will need some extra OTP verification from mobile and email id. Once you will make a deposit, WazirX will send OTP to mobile and email. Verify these OTP and allow withdrawal from the email confirmation.
WazirX is Safe Or Not Conclusion
Here we can see that WazirX enabled high-level security to log in, Deposit, and Withdrawal, funds. Also, you can deposit and withdraw in the same verified bank account.
We can say that WazirX is a highly secure and reliable cryptocurrency exchange.