Welcome to our WazirX news page. Here you'll find some of our featured WazirX Exchange content pieces as well as all our latest WazirX WRX ICO posts.
WazirX Exchange Announces Airdrop Support for BitTorrent Token (BTT) for Tron (TRX) Holders
Justin Sun, the CEO of TRON is excited for the launch of BitTorrent’s TRON-based cryptocurrency, BitTorrent Token (BTT). He has been actively pushing the token through his Twitter and many investors are already bullish on it.
To give an illustration of how the BitTorrent tokens (BTT) will be used, imagine you want to download a certain file through BitTorrent. You would pay BTT to someone with a file and increase your payment to receive more bandwidth to download the file faster.
With this system in place, file hosts now have an inspiration to keep more files available on the network, and everyone can benefit from a greater selection of files and faster download speeds. Project Atlas and the BTT token will certainly improve the existing p2p file sharing system.
Investors looking to obtain BTT before it’s released to market will be able to do so through Binance Launchpad, a listing service used to raise funds via token sales. Also, the tokens will be distributed to TRX holders through airdrops and possibly other methods.
Now, popular Indian crypto exchange WazirX also announced the support for the proposed BitTorrent Token Airdrop.
Although the details of the airdrop are not clear now, it is anticipated that the exchange will propose further advancements in the coming week.
BitTorrent has over 200 million users and if these users benefit from the improvements Sun intends to implement, BitTorrent very well could be what leads to blockchain mass adoption.
The P2P platform is named the “Grandfather” of decentralized wen according to the Binance CEO. Sun acquired the platform to develop his vision of a decentralized content sharing ecosystem using blockchain technology and cryptocurrency.
He has plans to use BitTorrent to catapult his ideas and digital assets to the end consumer which most crypto companies have failed to do till date.
WazirX WRX ICO: India Bitcoin Exchange For Crypto Coin Trading?
WazirX is a cryptocurrency exchange, currently in development, that aims to be the most trusted Bitcoin exchange operating within India. In addition to its plans to launch a full crypto exchange that will support several different cryptocurrency pairs, WazirX is also introducing its own token, the WRX Coin, for use on the platform.
What Is WazirX?
The WazirX executive team, as listed on the company’s website, are all co-founders of a social media management app known as Crowdfire, which was created in 2010. These three (Nischal Shetty, Sameer Mhatre, and Siddharth Menon) are the only individuals listed directly by the company. All three have programming backgrounds.
Other than that, there’s no concrete information about WazirX, save that it’s located in the Mumbai region of India. There’s also no specific documentation regarding how WazirX will function, either.
While there’s no direct info on the website, the founders have given interviews to external sources that have revealed more information regarding their plans. Saying that the state of Indian cryptocurrency exchanges was simply too poor, WazirX co-founders saw themselves wanting to throw their hat in the ring in order to bring better service to the country’s cryptocurrency enthusiasts.
The WazirX India Bitcoin Exchange For Crypto Coin Trading Product
WazirX, once fully launched, will act as a traditional cryptocurrency exchange for several different crypto pairs. It will also feature its own exchange-backed token, WRX Coin, much in the same way that operations like Binance or Cobinhood, two successful crypto platforms, have done in the past.
The platform itself is in prelaunch, accepting registrations from Indian residents. For the first 30,000 traders, WazirX is offering 250 WRX coins as incentive. Additionally, once the platform launches, members will be credited an unspecified amount of WRX for their first trade. Plans are eventually to have the token listed as a trading pair on WazirX, but not until after it has been established as a standalone exchange.
The WazirX WRX ICO Opportunity
In addition to being able to trade on an exchange located within India and marketed toward the needs of Indian residents, joining WazirX provides members with the opportunity to begin banking some WRX tokens before they come publicly available.
Also, WazirX is offering a simple referral program as well in an attempt to drum up widespread support for the new exchange. In addition to the initial 250 WRX, members can receive an extra 100 WRX for every new friend they bring aboard. There seems to be no stated limit on how many times a member can earn this recruitment bonus.
With this cryptocurrency exchange being the brainchild of the individuals behind the Crowdfire app and its stated goals of providing an easy entry for Indians to begin trading cryptocurrency, WazirX certainly has a lot of potential. The only thing we can truly complain about is that there’s no set timeline for when the platform will be up and running, as pre-registration runs for the next 30,000 new users and not for a specified time.
Besides that, it’s obvious that WazirX isn’t going to be much use for anyone who lives outside of India. The company is specifically asking that only Indian residents sign up for the exchange. This is only fair, considering how many other good exchanges exist out there for people living in other locales around the world.
In a way that’s likely to be WazirX’s strength as well as its weakness. With no membership support available from outside India, it’s in WazirX’s best interest to incentivize memberships in any way it can. Giving away free WRX tokens is likely the best way to do so, but only for those Indian residents who are already interested in cryptocurrency. If WazirX wants to truly flourish, it will have to find a way to galvanize large proportions of India’s burgeoning population that aren’t initially interested in or educated about cryptocurrency.
For what it’s worth, we hope WazirX is successful. When it comes to exchanges, the more the merrier - it helps to democratize and spread cryptocurrency among the world while also providing high levels of competition between existing exchanges when it comes to customer service, transaction fees, and feature sets. Here’s hoping for a successful launch in the future.
WazirX ICO (WRX Token): India's Trusted Bitcoin Exchange?
Exchanging in bitcoin is the next best investment plan you could get into, and each country is creating a platform that will make trading much more accessible for its investors. In this case, we are looking at India; nobody wants to be left behind crypto investments opportunity.
India has a trusted Bitcoin exchange platforms called WazirX. As an investor you can either sell, buy or even trade in Ethereum, Bitcoin, Litecoin, Ripple and many other cryptocurrencies, all this is possible in India. So if this is something that has interested you as an investor, read on as we review what features this platform has to offer.
The WazirX platform has been designed for Indian investors. The platform will allow Indians to join the digital revolution that is surrounding cryptocurrencies. It is clear the world has been moving towards this revolution at an unprecedented pace so why should investors in India be left behind?
So now is India’s time to also heavily invest in this promising new revolution that has hit the trading market. WazirX allows you to buy, trade or sell the various cryptocurrencies available, all this will be done with ease, trust and confidence.
What Makes WazirX A Trusted Platform?
Reportedly WazirX have a top of the line class security. The company has ensured they have not left any stone unturned to make the platform secure. They have invested in regular security audits; this is all to ensure the platform is offers secure trading.
WazirX has been designed with a top of the line verification system; you will be able to process your KYC in just a few hours once you have signed up on the platform. This is done ensuring the correct protocol has been carried out to get your KYC. The company is continuously building the robustness of the system to reduce the verification time drastically.
WazirX can handle millions of transactions. The system has the ability to scale up in just a few seconds to meet the surging demands, so you are assured you will not witness any delays while working on this platform.
There is IOS and Android Apps. WazirX is the very first secure Indian Bitcoin Exchange developed with a compelling web platform. Also they have developed a mobile app that is compatible with both IOS and Android just to make transactions much more accessible.
It has a straightforward and efficient design. Trading on this platform has been made fast. The company has built a technology that is used by millions of investors, and with that experience they have gained helped in creating this compelling exchange.
WazirX Also Have A Digital Coin
Just like the popular Bitcoin and the various other coins on the market today, WRX is also a promising digital coin that has been designed by WazirX. The company has created a maximum of 1 billion WRX, so you better start purchasing this coin before the demand is too high.
WazirX Exchange CEO Asks Indian Finance Minister To Regulate Cryptocurrencies In India
WazirX CEO Asks Indian Finance Minister To Regulate Cryptocurrencies In The Country
There are currently ten cryptocurrency exchanges in India with a user base of 5 to 6 million. In October, India’s finance minister Arun Jaitley had a crucial meeting with industry stakeholders. At the meeting, they exhaustively discussed the possibility of banning private cryptocurrencies in India. However, experts say that the government is looking at prohibiting selling, buying and transacting in virtual currencies, thus allowing people to possess it.
Now, Nischal Shetty, the CEO of Indian crypto exchange WazirX, is trying to reach out to Mr. Jaitley to regulate Bitcoin and similar assets. He asked him to focus on the potential benefits rather than the misuse. He emphasized that every industry has their pros and cons but we should by equanimous in our judgment.
Currently, crypto has a blanket ban in the country as Reserve Bank of India (RBI) has cut off the access to fiat liquidity. This has forced the crypto startups to flock to other crypto friendly regions like Malta. This did not influence Arun Jaitley’s stance. In the most recent parliamentary session he, in fact, doubled down on it causing a massive market sell-off in the BTC-INR market.
Despite these disheartening events, nothing is set in stone in India. The ban is only psychological and the constitution doesn’t support it. The constitution of India does not even recognize cryptocurrencies till now.
In the same Twitter thread, Shetty said:
“We need to tweet to our minister every day till we get a reply,” he wrote. “The more we tweet, the more chances of our voice being heard & crypto getting a positive regulation in India.”
He thinks if the community gets together, the concerns of the public will reach the top lawmakers. He even asked the media to help him in his effort.
However, Indian government is used to turning a blind eye towards their problems, it is highly possible that these efforts are in vain.
WazirX CEO Says "All Eyes on July 20 Now" After RBI Cryptocurrency Ban Supreme Court Decision
All eyes were on the Supreme Court of India as it judged the awaited hearing of Internet and Mobile Association of India (IMAI) vs Reserve Bank of India (RBI) on the decision about the decision that the RBI took to forbidden banks on providing services for cryptocurrency traders.
According to the decision of the Supreme Court, the banks still have to comply with the law until July 5. A further hearing will be made on July 20 to decide for once and for all if the banks will be allowed to continue or not.
The CEO Of WazirX Comments On The Decision
The CEO of WazirX, the top crypto exchange in the country, Nischal Shetty, has told the media the plans of the company after the hearing. He considered the decision of the Supreme Court of India to be a positive one because it lets everything be solved at the official hearing in July 20.
WazirX is part of the Internet and Mobile Association of India. He advocates for the regulation of cryptocurrencies in the country because most of the world is currently doing it, so India should do the same. According to the CEO, the company, the RBI has already been notified of the demands of the organization.
According to him, the RBI has not yet made a serious effort to study and understand how the cryptos work before banning them from the country. He believes that blockchain is the future of finances and technology, so it is a bad decision to simply decide to ban them.
After The Ban, WazirX Will Use P2P Transactions
The CEO of WazirX has stated that there will be a period of disruption after July 5. According to him, even if there is no direct bank access, there will still be ways to trade Bitcoin for INR. The company will use a P2P solution to allow the Indian investors to convert fiat into crypto and vice versa in the absence of direct banking channels.
According to the CEO, no law states that cryptocurrencies are actually illegal in India, so it will be possible to make P2P transactions. He makes a comparison with a second hand car market because you exchange the money for an asset with other person directly. The banks may be forbidden to participate but nothing is stopping the individuals to keep trading their cryptos, so they can continue to buy and sell them.
Obviously the transactions will not be 100% smooth. If some transaction took 20 to 30 minutes before, it could easily take 2 to 3 hours now, but there will still be liquidity in the market.
Panic Selling Is To Be Expected
Nischal Shetty has also commented on panic selling after July 5. According to him, it will be unfortunately a reality that this will happen because not everybody will know that they can do the P2P transactions via the company, so it will probably lead a lot of people to panic selling.
According to him, this is very unfortunate because they will soon perceive that it was not a good time to sell but the money will be lost. Because of this, the company is advising everybody that they can do it differently and use the P2P exchanges on WazirX.