Blockchain Cryptocurrencies

India’s Exchange Platform: WazirX

WazirX is a leading cryptocurrency exchange platform based out of Mumbai, India. The company was founded in 2018 by three Indian cryptocurrency visionaries, Siddharth Menon, Sameer Mhatre, and Nischal Shetty. Currently, the Seychelles-based crypto giant Binance owns WazirX.

WazirX: A dive into the crypto exchange’s history

2018

WazirX was founded in 2018. The founding fathers were Menon, Shetty, and Mhatre, as mentioned before. The company was headquartered in Mumbai, India

2019

In the very next year, Binance acquired a 100% stake in the Indian crypto exchange.

2020

2020 marked another major milestone for the crypto exchange as it launched WazirX token “WRX.” This token has a maximum of 1 billion tokens. Holders enjoy special benefits like trading fee discounts, token airdrops, and more.

WazirX: Current stats

WazirX promises the following to its users.

  1. Best in class security
  2. Super-fast KYC
  3. Lightning speed transactions
  4. Simple and efficient design
  5. Built by blockchain believers
  6. Availability across 5 platforms

The exchange currently offers an auto-matching peer-to-peer engine. As of 2022, it is the largest cryptocurrency platform in the world’s second most-populous country. Almost 60-70% of Indian cryptocurrency exchanges are carried out through WazirX.

With time, the company has also spread out to NFTs, with a dedicated marketplace for selling and buying digital art. The service can be availed via Android, iOS, web, Windows, and Mac apps. The company has a 24-hour trading volume of about $55 million as of February 2022.

Official website: https://wazirx.com

WRX token

WRX token was launched in January 2020. This token was meant to build a strong community around the exchange platform. The main motive was to reward loyal users for their constant support of the platform.

Any user can own a certain number of WRX tokens. This will grant them special in-service benefits. These benefits can range from discounts to special airdrops, fee waivers, and more.

The token is currently backed by entrepreneurs from around the country who aim to make WazirX a crypto network adopted and accessible to any Indian crypto enthusiast.

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