India has been at the forefront of the crypto revolution, and with the lifting of the two-year-old RBI prohibition on banking support for cryptocurrencies in March 2020, new and improved peer-to-peer exchanges have emerged swiftly. Local crypto trading, especially on P2P cryptocurrency exchanges in India has spiked as more and more Indians are eager to sell and buy cryptocurrency in India and earn massive profits.
Cryptocurrencies, which were earlier viewed with suspicion and a means for tech enthusiasts to make quick money, are now being seen as a secure medium of exchange and as a suitable pathway into the digital financial world.
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Some even claim that crypto is the best product in the entire fintech space at the moment. If you are considering trading cryptocurrency to put your hard-earned money to good use with viable returns, here’s how you can sell or buy cryptocurrency in India in INR through WazirX!
- Create your account on WazirX
- Visit WazirX, sign up using a few simple steps to create your free WazirX account. Or download the WazirX app for Android or iOS. Once you have been redirected to this page, fill in your desired email with a strong password.
- Before clicking on the ‘Sign Up’ button, make sure you go through the Terms and Conditions thoroughly and then tick the box that says ‘I agree to WazirX’s Terms of Service.’
- Click on ‘Sign Up’ to complete the account creation process.
- You will have to verify your email address to proceed and access your free WazirX account. Check your email for the verification mail, and click on ‘Verify Mail’ to complete the process. In case you do not receive it on the first try, you can check your ‘Spam’ folder or click on the ‘Resend here’ option to send it again on your email.
- Once you have successfully verified your email, you will see this message.
KYC Verification
- This is the last step that needs to be completed for you to access and operate your free WazirX account.
- Select your country from the drop-down menu. You will then be asked for KYC verification.
That’s it! Once you have completed the KYC verification, you will have a functional account to trade crypto easily on WazirX.
- Deposit funds into your WazirX account
There are two ways through which you can go about the deposition process for your WazirX account:
- Depositing INR on WazirX
It is important to note that your KYC verification should be completed before you decide to deposit funds in your WazirX account.
To deposit INR on WazirX, you can use methods such as UPI/IMPS/NEFT/RTGS. For verification purposes, you will need to submit your transaction details to WazirX.
- Depositing cryptocurrency on WazirX
WazirX, a top cryptocurrency exchange in India, enables its users to deposit cryptocurrencies into their WazirX account. This process has been made effortless and you only can deposit or transfer your desired crypto from other wallets or cryptocurrency exchanges in India to your WazirX account. The best part? This process is completely free with no fee on any deposits!
You can start with obtaining your ‘deposit address’ from your free WazirX account. Once you’ve done this, share the deposit address with your holding wallet and easily transfer your choice of crypto to your WazirX wallet.
- Buy cryptocurrency in India
Once you have deposited your funds, either in INR or in the crypto of your liking, into your Wazir wallet, you can either sell or buy cryptocurrency in India through a hassle-free method. As an example, let us look at how you can buy Bitcoin through WazirX.
Visit the WazirX exchange to see the latest Bitcoin prices in INR.
You can then scroll down to see ‘Buy’ and ‘Sell’ options on your dashboard. Simply enter your desired INR price and the amount of Bitcoin you want to buy to proceed with the purchase.
Click on ‘Place Buy Order’ and wait for the execution of the transaction. Once the order has been executed, you can find the BTC in your WazirX wallet.
Why should you choose WazirX to trade cryptocurrency in INR?
WazirX is a top cryptocurrency exchange in India as it promises its users lightning-fast deposits and withdrawals in INR. Here are a few compelling reasons why you should choose WazirX to sell or buy cryptocurrency in India:
- Highly Secured
WazirX is one of the most trusted cryptocurrency exchanges in India and is highly secured to ensure that every transaction that is carried out is safe and verified, by carrying out regular safety audits to uphold the highest standards of security for its users.
- Great accessibility
WazirX is a popular cryptocurrency exchange in India especially when you are looking to sell or buy cryptocurrency in India due to its great accessibility across various platforms. It offers its users a unique trading experience across various platforms such as web, mobile and has applications that are compatible with both Android and iOS.
- Instant transactions
WazirX’s advanced trading interface enables and facilitates instant transactions for both first time crypto investors and professional and experienced traders.
- Referral commissions
WazirX users also get a whopping 50% commission on referrals on the application to encourage existing users to get their friends, colleagues, and families to delve into the world of crypto and be a part of the exciting blockchain revolution.
- Minute by minute price tracking
Finally, when you opt for WazirX, the #1 cryptocurrency exchange in India, you also get access to exclusive charts that enable minute-by-minute price tracking for a range of cryptocurrencies. Additionally, the simple and seamless user interface ensures that users have a hassle-free and smooth trading experience on the platform.
What Are The Best Cryptocurrencies To Invest In?
The best cryptocurrencies to invest in would be the ones you study and analyze in detail. Some of the most popular cryptocurrencies include Bitcoin, Ethereum, and many altcoins such as Tron, Ripple, Litecoin, etc.
How Cryptocurrency Works?
Cryptocurrencies use cryptography technology to keep transactions and their units (tokens) secure. Cryptocurrency works via a technology called the blockchain. A blockchain is a decentralized technology that handles and records transactions across numerous computers. The security of this technology is part of its value.
Are Cryptocurrencies A Good Investment?
Cryptocurrency has the potential to make you extremely wealthy, and the potential to cause you to lose your money. Crypto assets, like any other investment, come with many risks and potential rewards. Fundamentally, cryptocurrency is an excellent investment, particularly if you want to gain direct exposure to the demand for digital currency.
How To Invest In Cryptocurrency?
There are two ways of investing in cryptocurrency, mining and via exchanges. Cryptocurrency mining is considered the procedure of verifying and adding transactions to the blockchain public ledger. Another option is via cryptocurrency exchanges. Exchanges generate money by collecting transaction fees, but there are alternative websites where you can interact directly with other users who want to trade cryptocurrencies.
Can I Invest In Cryptocurrency?
Yes, with exchanges like WazirX, you may invest in cryptocurrency in India. To begin, go to the WazirX website and register. After that, you will receive a verification email. The link received by verification mail will only be available for a few seconds, so make sure you click it as quickly as possible. This will successfully verify your email address. The following step is to set up security, so choose the best solution for you. After you've set up the security, you'll be given the option of continuing with or without completing the KYC process.
Is Crypto Legal In India?
Cryptocurrencies are legal in India, and anyone can purchase, sell, and exchange them. It is currently uncontrolled, as India lacks a regulatory structure to oversee its operations. Per the Ministry of Corporate Affairs, companies must now record their crypto trading/investments within the financial year. In cases where a person receiving the gains is an Indian tax resident, or the cryptocurrency is regarded as domiciled in India, cryptocurrency transactions have been taxable in India
What Is Crypto?
Crypto or a cryptocurrency is a digital currency protected by cryptography, making counterfeiting and double-spending nearly impossible. Blockchain technology is used to produce cryptocurrencies (a distributed ledger enforced by a distributed network of computers). Cryptocurrencies are distinct in that a government does not issue them. The word "cryptocurrency" refers to the encryption methods employed to keep digital currencies and the network secure.
Is Pi Cryptocurrency Safe?
Pi Network (PI) is the newest digital token to catch the cryptocurrency community's interest, even before it has wholly debuted. Some users see it as a chance to get engaged in a cryptocurrency from the beginning and profit in the future, similar to how early Bitcoin adopters made huge profits by mining and keeping the coin. Other users have compared Pi to a worthless multi-level marketing (MLM) scheme.
What Is The Safest Cryptocurrency To Invest In?
Bitcoin has had the highest market capitalization, has been around the longest, has the most experienced development team, and has enormous network impact and brand recognition. As a result, while trading cryptocurrencies, the rate of return on Bitcoin is commonly used as a benchmark. However, the risks associated with cryptocurrencies remain, and the safest cryptocurrency for you depends on your analysis.
Is Mining Cryptocurrency Legal?
Cryptocurrency mining can be time-consuming, expensive, and sporadically profitable. Mining has an appeal for many cryptocurrency enthusiasts as miners are paid directly with crypto tokens for their efforts. The legality of cryptocurrency mining is dependent on where you live. In India, there is no restriction on crypto mining.
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.
FAQs
How do I trade in WazirX in rupees? ›
- Visit WazirX and create an account on the website. ...
- Now all the major security options have to be set up. ...
- Post the setup, the user can start trading on the WazirX app. ...
- However, if a user is planning to buy any cryptocurrency, they will have to deposit funds first with as little as INR 100.
After selecting Buy, put in your desired price in INR and the amount of Bitcoin you want to buy. Hit Place Buy Order, and simply wait for the order to be executed. And it's done! You will find the INR equivalent bitcoins added to your WazirX wallet when the transaction is executed!
How do you trade in cryptocurrency complete guide? ›- Sign up for a cryptocurrency exchange. ...
- Fund your account. ...
- Pick a crypto to invest in. ...
- Start trading. ...
- Store your cryptocurrency. ...
- Market structure and cycles. ...
- Chasing the whale. ...
- Psychological cycles.
Conversion tables
The exchange rate of Crypto.com Coin is increasing. The current value of 1 CRO is ₹5.02 INR. In other words, to buy 5 Crypto.com Coin, it would cost you ₹25.09 INR.
Cryptocurrency is not illegal in India. WazirX is a trusted Bitcoin and cryptocurrency exchange & trading platform. There are even tax rules which are made by the Central Board of Direct Taxes.
How do I sell USD on WazirX? ›- Click on P2P at the top of your screen.
- Enter the volume of USDT you want to sell. ...
- Click on the Place Sell Order button. ...
- WazirX will then start showing you the matches. ...
- Each match (buyer) will make the payment to your bank account separately.
ED Troubles
On August 5, 2022, the ED had frozen WazirX's bank accounts containing Rs 64 crore of the company's money. It had also raided its premises for alleged violation of the FEMA Act. The ED officials had also searched the premises of one of the directors of Zanmai Labs, which owns WazirX.
- Step 1: Make a cryptocurrency brokerage account. ...
- Step 2: Fund your account. ...
- Step 3: Pick a crypto to invest in. ...
- Step 4: Choose a strategy. ...
- Step 5: Consider automated crypto trading. ...
- Step 6: Store your cryptocurrency.
- Open a Demat account. To enter the share market as a trader or investor, you must open a Demat account or brokerage account. ...
- Understand stock quotes. ...
- Bids and asks. ...
- Fundamental and technical knowledge of stock. ...
- Learn to stop the loss. ...
- Ask an expert. ...
- Start with safer stocks.
The best time to day trade any crypto asset is 8:00 am to 4:00 pm in its local time. Since crypto is a relatively new financial market (when compared to forex and stocks), its liquidity and volatility are very unpredictable, especially among altcoins.
What is the best time to trade Cryptocurrency? ›
Most Active Crypto Trading Times
It has been suggested that the best time to trade cryptocurrencies is from 8am to 4pm. This is the time when the most volatility occurs, particularly in American markets, so there is the most potential to make money at this point.
1 BTC = 2,206,781.584437 INR May 22, 2023 02:44 UTC
The currency converter below is easy to use and the currency rates are updated frequently.
Yes. WazirX currently supports Ether (ETH) withdrawals to Smart Contract Addresses. However, please do not invest in ICOs using your WazirX wallet as we will not be able to support any tokens that you receive back from the ICO.
How much is 1 crypto in usd? ›The current value of 1 CRO is $0.06 USD. In other words, to buy 5 Crypto.com Coin, it would cost you $0.29 USD.
Can we use WazirX in USA? ›WazirX open for all countries. Invite your friends on WazirX and earn… | by WazirX Bitcoin Exchange | WazirX | Medium.
Is WazirX banned in India? ›No, cryptocurrency is not banned in India.
Is WazirX going to shut down? ›“We regret to announce that the WazirX NFT Marketplace has been sunsetted. We are proud to have launched India's first NFT Marketplace in June 2021, which showcased the work of many creators. Unfortunately, it did not gain much traction,” the company said in a statement.
Can I buy in Coinbase and sell in WazirX? ›Currently, WazirX is not supported across Coinbase's ecosystem regardless of payment system, including PayPal.
How do I cash out crypto to USD? ›- Use a crypto debit card like the BitPay Card.
- Sell crypto for cash on a central exchange like Coinbase or Kraken.
- Use a P2P exchange.
- Seek out a Bitcoin ATM.
- Bonus: Gift cards.
The current value of 1 USDT is $1.00 USD.
How much does WazirX charge for withdrawal? ›
WazirX does not charge any fees for using its trading platform, but you may incur network fees when sending or receiving cryptocurrency.
How do I convert crypto to cash in WazirX? ›Once you have BTC or other cryptos in your WazirX Funds, you can visit the different INR markets like BTC/INR, ETH/INR, XRP/INR, WRX/INR, etc. and place the Sell order. Similarly, you can Sell other cryptos from their respective markets like ETH/INR, XRP/INR, WRX/INR, etc. Thanks!
Why can I not withdraw from WazirX? ›The withdrawal will only happen to the Bank account that you have linked to your WazirX account. The name on the Bank account that you link MUST match the name on your WazirX account.
Why WazirX left India? ›Following this forex violation charge in June 2021, in January 2022, Mumbai authorities began probing into tax evasion— and accused WazirX of only paying GST on commissions it earned on Indian rupee transactions and not the fees it charged on trades in WRX tokens.
What is better than WazirX? ›OKX (formerly OKEx) is the industry leader in cryptocurrency trading instruments and pairs for traders around the world. With over 20 million traders in more than 200 countries, we are the most trusted cryptocurrency marketplace in the world to buy BTC, ETH, USDT, XRP and many more digital assets.
Which is the best cryptocurrency to invest in WazirX? ›#1 Ripple (XRP)
Therefore, ripple is one of the best Cryptos to buy in 2023 for the long term since its value may soar in the coming years as Crypto payments gain further traction. As of 21st Feb 2023, one Ripple token stands at INR 33.90 on the WazirX platform.
Generally, you earn crypto by staking because you'll receive interest or dividends, often at a high rate. However, you often have to commit to a period of time to lock your crypto in the blockchain, and you'll be subject to the risks of keeping your crypto on an exchange.
How do you get rich trading crypto? ›- Investing. Investing in cryptocurrency is an excellent way to profit from it. ...
- Lending. Another way to monetize cryptocurrency is through lending. ...
- Trading. ...
- Staking. ...
- Traditional Buy and Hold. ...
- Earning Interest. ...
- Affiliate Programs. ...
- Dividends.
In fact, investing 5% of your portfolio in crypto is an often-quoted percentage of your net worth to tie up in crypto assets. Some experts recommend starting much lower, with just a 1% investment in cryptocurrency and the remaining 99% of your portfolio going to stocks and other traditional investments.
What is the easiest trading strategy to learn? ›Following the trend is probably the easiest trading strategy for a beginner, based on the premise that the trend is your friend. Contrarian investing refers to going against the market herd. You short a stock when the market is rising or buy it when the market is falling.
What is the most profitable trading strategy? ›
From our experience, mean reversion strategies tend to be the most profitable. One of the reasons for that is that the market moves sideways more of the time than it trends. Even when it trends, it moves in waves that often oscillate around its moving average.
What time of day is crypto cheapest? ›Best Time of Day to Buy Bitcoin
Once you have an idea of what Bitcoin is worth, you should consider when to buy Bitcoin. While the value is always changing, the value follows has historically followed certain patterns. In general, it's better to buy Bitcoin in the afternoon since prices tend to drop.
- Top Cryptos Set to Be Most Profitable in 2023 – Dogecoin, Cardano, Collateral Network.
- Litecoin Price Prediction – Bitcoin Cash and Collateral Network Swarmes By Investors.
- Will The Bitcoin Cash Price Reach $200? ...
- Bitcoin Cash Price Set To Be Surpassed By Ethereum Classic and Collateral Network In 2023.
Cryptocurrencies like Bitcoin can experience daily (or even hourly) price volatility. As with any kind of investment, volatility may cause uncertainty, fear of missing out, or fear of participating at all. When prices are fluctuating, how do you know when to buy? In an ideal world, it's simple: buy low, sell high.
Can you successfully day trade crypto? ›Crypto Day Trading Does Not Assure a Monthly Income
Even the best traders are not assured of a profit. The market is unpredictable, and the best you can do is make sure you are using a strategy that you have backtested or paper traded to be sure it works.
Green candlesticks indicate that the crypto rose in value so the opening price is at the bottom and the closing price is at the top. Red (or pink) candlesticks indicate that the crypto fell in price, so the opening price is at the top and the closing price is at the bottom.
What is the best day of the week to sell crypto? ›Daily and hourly average Bitcoin exchange rates.
There was a local low in cryptocurrency prices last Thursday and Friday, making these days excellent times to purchase cryptocurrencies. In the best-case scenario, you should sell Bitcoin between Monday and Tuesday morning.
The current 100 BTC to INR exchange rate is 221.24M INR and has decreased by -8.64% over the past 30 days. The BTC to INR price chart indicates the historical change of 100 BTC in INR over the past 30 days.
How much does WazirX charge per trade? ›
| WRX holdings | Trading Fee Payable |
|---|---|
| 0 - 500 WRX | 0.2% |
| 500 - 10,000 WRX | 0.17% |
| 10,000 - 50,000 WRX | 0.15% |
| > 50,000 WRX | 0.1% |
Hi Vamsi! We understand your concern and please be informed that only Crypto withdrawals and P2P trading will be disabled for the users after the first INR successful deposit through RTGS/NEFT/IMPS. Meanwhile, you can still withdraw INR to your bank and deposit Crypto. Thanks!
Is it safe to keep Crypto in WazirX? ›Trading Fees: WazirX fees structure is quite transparent and much explained on its website. They have no hidden charges. However, WazirX charges trading and withdrawal fees. Safety and Security Measures: WazirX has got our best rating in safety and security measures.
How much is $1000 dollars into crypto? ›How much is 1000 US Dollar in Bitcoin? 1000 US Dollar is 0.038861 Bitcoin. So, you've converted 1000 US Dollar to 0.038861 Bitcoin.
How many dollars is $200 Bitcoins? ›200 Bitcoin is 5201420 US Dollar.
So, you've converted 200 Bitcoin to 5201420 US Dollar. We used 0.0000385 International Currency Exchange Rate. We added the most popular Currencies and CryptoCurrencies for our Calculator. You can convert Bitcoin to other currencies from the drop down list.
2000 Crypto.com Coin is 576.849558 US Dollar.
How can I add money to WazirX in India? ›- Step 1: On the WazirX app, click on 'FUNDS'.
- Step 2: Select INR.
- Step 3: Click on 'DEPOSIT'.
- Step 4: Select 'Instant Deposit (Wallet Transfer).
- Step 5: Enter the amount you would like to deposit and click on 'CONTINUE'.
The minimum withdrawal limit is 500 INR. Hence you can't withdraw below 500 INR. You can deposit the remaining amount and later withdraw the whole sum altogether.
What is the price of WazirX in rupees today? ›| Price | Volume | Time |
|---|---|---|
| 10.71 | 465.0 | 01:17:03 |
| 10.85 | 122.1 | 01:10:03 |
| 10.70 | 27.6 | 01:09:11 |
| 10.70 | 5,000.0 | 01:08:10 |
Widely used crypto exchange WazirX has listed the net banking facilities of Punjab National Bank, Union Bank of India, IDBI, IDFC First Bank, Federal Bank and Deutsche Bank to make payments for crypto purchases.
Why is WazirX not accepting deposits? ›
WazirX. Cryptocurrency exchange WazirX has paused all deposit services via any mode of net banking, such as NEFT, or IMPS. The only way left out for users is the P2P service. Peer-to-Peer trading (P2P) allows the buying and selling of cryptocurrencies without the need of any third party or intermediary.
What is the minimum deposit amount in WazirX? ›| Market | Minimum Order Size | Status |
|---|---|---|
| UNI/INR | 50 INR | active |
| LINK/INR | 50 INR | active |
| SXP/INR | 50 INR | active |
| ADA/INR | 50 INR | active |
In India, gains from cryptocurrency are subject to a 30% tax (along with applicable surcharge and 4% cess) under Section 115BBH.
How much percentage does WazirX take? ›WazirX charges 0.2 percent in commission on each transaction. The 0.2 percent rate is one of the lowest crypto exchange commission rates worldwide. On depositing money on WazirX is only Rs. 5.9, but while withdrawing money from the app costs between 5 to 10 Rs depending on the method of extraction used.
How much is 1 WazirX in USD? ›How much is 1 WazirX in USD? Right now, 1 WazirX is worth about $0.12.
Is WazirX free in India? ›A zero-fee cross-platform transfer between WazirX and Binance is possible, thus securing all the crypto currency assets and investment. WazirX also has zero hidden charges. Other fees on the platform are: 0.2% Taker Fee.
What will be WazirX price in 2030? ›WazirX price prediction June 2030: WazirX's price for June 2030 according to our analysis should range between $1.46 to $1.68 and the average price of WRX should be around $1.57.
What is the Crypto withdrawal fee in WazirX? ›| Coin | Withdrawal fees | Min withdrawal |
|---|---|---|
| BTC Bitcoin | $16.661791 0.0006BTC | $33.323582 0.0012BTC |
| ETH Ethereum | $18.985462 0.01ETH | $37.970925 0.02ETH |
| BNB Binance Coin | $0.3125378 0.001BNB | $0.6250756 0.002BNB |
| USDT Tether | $10.003558 10USDT | $20.007117 20.0USDT |
$0 to $25,000: 0.40% maker, 0.40% taker. $25,001 to $50,000: 0.35% maker, 0.35% taker. $50,001 to $100,000: 0.15% maker, 0.25% taker.