Buzz
Continue exploring the article below on Mytour to understand what WRX is. Additionally, readers can refer to other Mytour articles to learn more about virtual currency Bitcoin SV.
Explore the curiosity about WRX: What is it all about?
1. What is WazirX?
WazirX is India's cryptocurrency exchange, launched on March 8, 2018. The platform's development team includes Nischal Schetty, Sameer Mhatre, and Siddharth Menon.
On November 21, 2019, Binance announced the acquisition of the platform. WazirX is also the first Indian cryptocurrency exchange to be internationally acquired. The Indian crypto exchange supports trading in over 80 different cryptocurrency pairs, including Bitcoin, BNB, Bitcoin Cash, Litecoin, Dash, and more.
The WazirX app is compatible with various platforms, including Windows, macOS, and other mobile platforms.
2. Overview of WazirX Exchange
Liquidity
In the latest update on March 26, 2020, amid the complex COVID-19 pandemic, the 24-hour trading volume on WazirX reached 3.37 million USD, according to Coinmarketcap.com. WazirX ranks 153rd in the list of exchanges with the highest 24-hour trading volume globally.
Trading Interface on WazirX
Different transactions on WazirX feature distinct interfaces. However, the common element is that the interface displays a trading window, cryptocurrency price charts, and order history.
Transaction Fees on WazirX Exchange
The transaction fees on WazirX are considered 'fixed,' meaning both makers and takers are charged the same fee of 0.20%. Overall, this fee aligns with the industry's previous average fee of 0.25%.
Withdrawal Fees on WazirX
WazirX applies a fee of 0.0005 BTC for BTC withdrawals. Compared to most other cryptocurrency exchanges in the market, this fee is lower. The industry average withdrawal fee is 0.000812 BTC per withdrawal.
Deposit Methods
Regarding deposit methods, WazirX allows bank transfers but does not support credit card deposits.
On June 6, 2019, WazirX announced a partnership with a Payment Service Provider, enabling investors in Indonesia to directly deposit Indonesian Rupiah on the exchange.
So what exactly is WRX?
WRX is the native token of the WazirX exchange and is considered the backbone of the trading platform. Built on the Binance chain, WRX aims to reduce transaction costs, supports WRX Trade Mining (unlocking and earning WRX tokens through transactions), collateral payments, and more.
This Mytour article has introduced you to the WazirX exchange and clarified the essence of WRX. Additionally, readers can explore other Mytour articles to learn more about OGN.
