Estimated reading time: 6 minutes
In this article, we will show the steps to buy Bitcoin on WazirX.
WazirX is India’s largest cryptocurrency exchange platform. Here, you can buy, sell and trade different cryptocurrencies. It even has its own coin called WRX. It is also accessible on various platforms.
The WazirX app can be downloaded on both iOS and Android devices. Notably, WazirX was acquired by Binance (a cryptocurrency exchange platform) in November 2019.
Use ad4e888q referral code on the WazirX exchange to get a discount on the fee.
Table of contents
Summary
- WazirX is India’s largest cryptocurrency exchange platform.
- There are three steps to making a WazirX account: Signup, KYC, and Buy.
- To buy Bitcoin on WazirX, you need first to deposit INR to your WazirX account
- There are multiple options to deposit INR: UPI/IMPS/NEFT/RTGS
- Now, go to the ‘Exchange’ page on the WazirX website.
- From the list of different crypto to INR exchanges on the left-hand side of the website, select the ‘BTC/INR’ exchange option.
- On the bottom right side of the page, you will see a ‘Buy/Sell Bitcoin’ option.
- On the ‘Buy’ tab, enter the amount of INR you want to spend and the amount of BTC you are going to receive will appear on the screen.
- Click on the ‘Buy BTC’ button to proceed with the transaction.
- Once your order is processed, your BTC will show up in your WazirX wallet.
- Click on the ‘Funds’ tab to check your BTC.
How to make an account on WazirX?
Step 1: Sign-up for a WazirX account
- Go to the WazirX website and click on the ‘Sign-up’ button on the top right-hand corner.
- Enter your email address and make a strong password.
- Go through the terms of service and then check the ‘I agree’ box.
- When you are ready, click on the ‘Sign-up’ button.
- After this, WazirX will send you a verification email. Go to your inbox and check the WazirX verification email. In that email, you will see a ‘Verify Email’ button. Click on this button. This message will appear on your screen:
Step 2: Set up 2FA (Two-factor authentication)
- However, this step is optional but we don’t recommend skipping this step. Setting up 2FA is crucial as it provides an extra layer of protection to your account. These are the ways in which you can set up 2FA:
- One way to set up 2FA is to use your mobile number and receive codes via SMS.
- The second way is to link your WazirX account to your Google Authenticator app and receive codes there. WazirX recommends the Google Authenticator option as it is more secure.
Step 3: KYC verification
This is the third and last part of registration:
- Select your country from the drop-down menu.
- After this, you will be asked to fill in the following details for the KYC verification.
- Once you enter all these details and click submit, your application will move onto the verification process.
- You will receive an email from WazirX after your KYC application is approved.
- Now, you are all set to use every feature that WazirX offers.
- You need to complete your KYC verification before depositing INR to your WazirX account.
How to buy Bitcoin on WazirX?
1. Deposit INR to your WazirX account
- Click on the ‘Funds’ tab available on the top bar of the website.
- You will find ‘Rupee (INR)’ as the very first option in the ‘Assets’ section. Click on the ‘Deposit’ button for depositing INR to your WazirX account.
- WazirX will now ask for your bank details.
- Once you add the bank details, your bank account will get linked to your WazirX account.
- The name on your bank account and your WazirX account must be the same.
- After this, you will see two options: ‘ Instant Deposit’ and ‘Instant Deposit with UPI.’
2. Make an Instant INR Deposit (IMPS/NEFT/RTGS)
- Click on the ‘Instant deposit’ button.
- Then, you will see your bank account details and WazirX’s bank details.
- Transfer funds to this bank account via IMPS/NEFT/RTGS.
- Your deposit will get credited to your WazirX account immediately.
- There is a fee of INR 5.9 per transaction for Instant Deposit via IMPS/NEFT/RTGS.
3. How to make an Instant deposit with UPI?
- Click on the ‘Instant deposit with UPI’ option.
- Copy the unique UPI ID of your WazirX account.
- Go to the UPI app of your choice (like Google pay, Paytm, Bhim, PhonePe) and select the ‘Pay By UPI ID’ option.
- Paste your WazirX UPI ID and enter the amount of money you would deposit.
- Complete your transaction. Your deposit will then be complete.
- If your UPI status is ‘successful,’ your WazirX account will be credited in 15 minutes.
- There is a fee of INR 4 per transaction for Instant Deposit with UPI.
4. Purchase Bitcoin on WazirX
- After you have deposited INR to your WazirX account, you are ready to buy Bitcoin with it.
- Open the exchange tab on the website. Here, you will see a list of different crypto to INR exchanges on the left-hand side. Click on ‘BTC/INR’ exchange.
- On the bottom right-hand side corner, you will see an option to buy and sell Bitcoin.
- On the buy tab, enter the amount of INR you intend to spend. When you do this step, you will also see the amount of BTC you are going to receive.
- WazirX charges a 0.2% maker fee for buying BTC.
- When you are ready to buy, click on the ‘Buy BTC’ button and wait for your order to complete.
- Once your transaction is complete, your Bitcoin will show up in your WazirX wallet. Click the ‘Funds’ tab on the website to see your Bitcoin.
Buy Bitcoin on WazirX: Conclusion
WazirX is an easy-to-use and safe Indian crypto exchange platform. Anyone interested in dipping their toes into a crypto investment can quickly learn their way around this website. People also don’t have to be confined to using the website. The WazirX app offers people the convenience of investing directly from their phones.
Frequently Asked Questions
Can I deposit INR without going through the KYC verification?
No, you can not deposit INR without completing the KYC verification. However, you can trade and deposit crypto.
Is there a minimum or maximum deposit limit for INR?
The minimum limit for depositing is INR 100. There is no maximum limit.
Is there a fee for depositing INR?
Yes, a small fee is charged per transaction. The fees are as follows: Fee for IMPS/RTGS/NEFT: INR 5.9 per transaction. Fee for UPI: INR 4 per transaction.
