WazirX is an Indian cryptocurrency exchange which is now a part of Binance. WazirX is currently working in India, Indonesia, Russia, Ukraine, Nigeria, Saudi Arab, Turkestan, and the UK. In this article, you will understand step by step process to use WazirX to buy or sell cryptocurrencies. You can buy/sell/trade any cryptocurrency like Bitcoin, Litecoin, Ripple, Stellar directly with Indian rupees, Indonesian Rupiah, Russian Ruble, Ukrainian hryvnia, Nigerian Naira, Saudi Riyal, Turkish lira, and Euro using WazirX.
In this article, we will show you how you can use WazirX if you are in any of the above-mentioned countries. I tried to make it as easy as to go through. In addition, if you still have any queries, drop a comment below and I will try to solve it as soon as possible.
Here is what I got here for you:
- What is WazirX? Short Introduction to start.
- How to Register and What is KYC in WazirX (Know Your Customer)?
- Using WazirX to buy cryptocurrencies?
- How to use WazirX to sell cryptocurrencies to get payment directly in your bank?
If you have any other questions, here is where you can ask for it. If you know something great and want to help our users you can also write articles for us.
What is WazirX – A short introduction
WazirX is an Indian cryptocurrency exchange working on P2P. P2P is Peer to Peer, you can learn more about it here. WazirX started in India and now working in 8 different currencies. You can buy 30+ cryptocurrencies like BAT, XLM, BTC, ETH, LTC directly from INR, IDR, RUB, UAH, NGN, SAR, UR, TRY. You can sell your cryptocurrencies here and get money directly into your bank account.
How to Register and What is KYC (Know Your Customer)?
To register with WazirX you have to fulfill two requirements. First, you must have an id card that has your photo and a valid address. Second, you must have a bank account to send or receive payments.
Go and Register to WazirX. Registering is a quite simple process. Just fill the details it asks like Email address and mobile number.
Now, it will ask you to fill the KYC.
What is KYC and How to fill KYC in WazirX?
What is KYC in WazirX?
KYC is Know Your Customer form which you have to fill and submit to verify your identity. It is mandatory to fill KYC to buy or sell cryptocurrency using WazirX. WazirX KYC asks for your details like a government-issued ID, you can use your passport or driver license to fill KYC and get verified.
How to fill KYC in WazirX?
Filling KYC in WazirX is a very easy process, you have to submit the image of your identity documents with some other details like address. After that, you submit the form, it will take up to 3 days to get reviewed and verified. Once you are verified you will be able to use WazirX.
How to use WazirX to buy cryptocurrencies?
Here is a step-by-step guide on how to use WazirX to buy cryptocurrencies in India, Russia, Indonesia, Ukraine, Nigeria, Saudi Arab, Turkestan, and the UK with WazirX.
To buy cryptocurrency the first thing you need is to have a bank account so that you can do NEFT/IMPS money transfer when you buy.
If you are not registered, get yourself registered here.
On the main screen click on the P2P tab and then select the currency in which you want to trade. The concept to buy/sell in WazirX is very simple. To buy any cryptocurrency you first need to buy USDT and then you can purchase any cryptocurrency with USDT. So, the first step is to buy USDT by doing the IMPS/NEFT bank transfers.
Choose your currency from the list and scroll down to the buy/sell section.
Now, write how much you want to buy and click the Place Buy Order button.
When you click the button, WazirX will automatically connect with the seller who wants to sell USDT at the price you mentioned. As soon as WazirX gets you a buyer, now it will show you the NEFT/IMPS/Online details so you can pay directly to him. Once the seller confirms that he/she got the payment you will get USDT in your WazirX account wallet.
Now to buy any cryptocurrency you have to click on Exchange from top menu and buy whichever cryptocurrency you want with USDT that you just bought. If you want to buy cryptocurrencies other than mentioned you can use Binance for the same.
How to use WazirX to sell cryptocurrencies?
Here is a step-by-step guide on how to use WazirX to sell cryptocurrencies in India, Russia, Indonesia, Ukraine, Nigeria, Saudi Arab, Turkestan, and the UK with WazirX.
To sell the cryptocurrency you must have a bank account in which money will get deposited and you must register to WazirX.
WazirX works on a P2P platform, which lets you sell cryptocurrencies directly to the buyer but in the form of USDT, as USDT is more stable and easy to deal with.
So, the first thing that you need to do is, get yourself registered on WazirX. Once you are registered and verified you have to sell your cryptocurrencies in USDT. Now, you have to click P2P from the top menu and select your currency.
On the bottom of the same page, you have to choose the amount of USDT you want to sell. WazirX automated system will connect you from buyers and once the buyer pays you in your bank account you have to confirm. Once you confirm that an actual payment has made, your USDT then gets transferred to the buyer.
As soon as the buyer pays you, you will get an automated call and message from the WazirX team. Now, you have 24-hours, to come to WazirX and verify that if a payment is made or not. If you are unable to respond then a dispute will get raised and WazirX will contact you shortly to resolve it.
You can also follow this YouTube video for the same.
You can follow WazirX on Twitter for regular updates.