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You can buy Bitcoin with your WazirX account by depositing INR in your WazirX account. It’s simple to buy any cryptocurrency from WazirX.
Add Money to WazirX INR Wallet.
After KYC is approved, the first step before you start trading on WazirX, is to add money to your WazirX wallet.
You can deposit as much as you can. The wallet of the WazirX allows the Indian rupees deposits via UPI, IMPS, RTGS, and NEFT. One can start with a minimum amount of Rs 100. However, there is no bar limit to deposit money above this. I strongly suggest starting with the minimum.
To deposit the INR into the WazirX wallet, you need to login and then click on the Funds.
For this, select the given option, “Rupee INR,” and then click on the given deposit section as mentioned in the image. After that, you need to link your bank account details with your WazirX wallet.
If you want to trade on the WazirX, you need to visit the section of exchange in the WazirX account. Then select the currency base. There are three base currencies available in WazirX segmented under BTC, USDT, and INR.
Let’s say you have BTC and you want to buy ETH.
Instead of selling BTC to INR, and then buying ETH with that INR, you can directly trade ETH with BTC.
Let’s see how we can do that.
Select any of the BTC, USDT, or WRX coins that you have in your WazirX wallet. You will see a list of coins that you can buy with respect to the coin you are holding. For example, let’s say we have some BTC and we want to buy ETH with your Bitcoins.
Choose the BTC ETH pair as shown above.
Enter the ETH amount you want to purchase.
Click on the BUY ETH button.
Individuals need to fill out the buy order form and then click on the place buy order. Your order will be placed immediately, and instantly you will get your cryptocurrency as it gets traded.
It may take a few minutes to execute, so keep patience. You can select the currency with which you want to sell/buy and start trading by entering the order form on the WazirX platform.
Now let’s understand WazirX Fees.
Pros
Pros
Auto-matching P2P platform with high liquidity
Rewards for referring users
Presence of Smart Token Funds (STF) marketplace helps novice traders stay profitable
A Wide range of crypto tokens supported.
Lacks crypto lending feature.
Easy-to-use and minimal interface.
No custody of fiat funds.
Free fiat/crypto swaps.
Smart Token Funds assist in portfolio building
cons
cons
Lacks crypto lending feature.
Restrictions on fiat deposit and P2P trade volume
Fiat deposit is only available to users in 8 countries
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