WazirX is a global cryptocurrency exchange that allows users to trade a wide range of cryptocurrencies, as well as providing useful P2P features. Users can access its services through web browsers, Android, iOS, macOS, and Windows apps. WazirX was founded by Nischal Shetty, Siddharth Menon, and Sameer Mhatre and is one of the leading Indian crypto exchanges. Like many other exchanges, WazirX has its own utility token known as WRX, which can be used for a wide range of purposes in addition to trading. The WazirX platform has its advantages, including its compatibility with multiple devices and operating systems, fast transactions, fast KYC process for new members, and intuitive design.
WazirX is mainly a crypto exchange platform that also offers P2P features to its users. Zengo, on the other hand, is a leading secure, non-custodial crypto and NFT wallet that supports trading, buying, selling, and storing crypto. On top of that, with Zengo’s WalletConnect integration, as well as its Web3 firewall, Zengo’s users can access a growing list of Dapps. When it comes to securing your digital investments, Zengo is the best choice.
WazirX charges different withdrawal fees depending on which kind of cryptocurrency you’re looking to withdraw from the platform.
WazirX has various withdrawal limits, with minimum limits applying to all forms of crypto withdrawals. This is something to keep in mind, as you may not be able to withdraw very small amounts. As a result, it is not uncommon for users to swap their altcoins for more popular tokens if they intend to withdraw them to other wallets.
The time it takes to withdraw from WazirX can vary based on several factors, such as the specific asset, network conditions, and more. However, most withdrawals are typically processed in less than an hour, although some may take up to 24 hours.
Potential issues when withdrawing from WazirX may include entering an incorrect wallet address, which could result in lost and unrecoverable funds or unexpected transaction fees. Always double-check all details before confirming a withdrawal and review the fees to avoid any surprises. Aside from that, it may be necessary for your account to be verified before making a withdrawal.
As of August 2023, WazirX only supports fiat withdrawals into Indian Rupees, which can take up to 72 hours. If you’d like to withdraw crypto to another major fiat currency, like US dollars or Euros, you’ll first need to transfer the funds to an external wallet like Zengo and then withdraw to your bank from there.
