WazirX Price（WRX）USD

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Launched in 2018, WazirX claims to be India’s fastest growing cryptocurrency exchange with over 400,000 users, with an average app rating of 4.6. The goal of WazirX is to make crypto accessible to everyone in India.

WRX is backed by Indian entrepreneurs with over 10 years of experience in building and scaling global products out of India. They launch a WazirX peer-to-peer solution which means users can convert fiat currency to cryptocurrency instantly, with WazirX acting as a safekeeper for the transaction. It was acquired by Binance in November 2019. WazirX and Binance have launched a $50 Million USD ‘Blockchain For India’ fund.

Key Features of WazirX

The exchange is available for the global audience, and key features include:

• Instant INR (fiat) deposit and withdrawal options.
• Smart Token Fund to help crypto investors find expert traders, and let them manage their cryptocurrency portfolio.
• World’s first auto-matching P2P engine with high liquidity.
• 80+ tokens.
• Login via Binance option.

WRX Token

WRX is the native utility token of the WazirX exchange. Based on the Binance blockchain, the token holders will be rewarded with various benefits on the trading exchange like trading fee discounts, WRX trade mining, token airdrop, margin fee, and more.  It’s reported it gets most of its revenue from trading fees as traders pay between 0.1% and 0.2% in fees on each trade.

Is WazirX A Good Investment?

Investing in altcoins, especially new coins such as WazirX, can be risky. It’s important to understand its investment potential and use cases before investing in WRX. Main things to consider are:

• Discount on the trading fee onlined on its blog. One of the use cases of the WRX token is it allows users of the WazirX to access a discount on their trading fees. Over 4 years the trading fee discount is set to be reduced from 50% in year 1 to 6.25% in year 4.
• Other user cases. WRX holders can use the tokens to pay for listing fees on the WazirX exchange or pay for fees on margin trades.Governance. As a WRX holder you will be able to suggest what features should be added to the WazirX exchange and get the right to vote in coin listings.
• Users can mine, unlock and earn WRX tokens by performing peer-to-peer trades.
• The supply of WRX is capped at 1 billion. The tokenomics of WRX is designed so that WRX tokens are based on the trading volume of WazirX’s crypto-to-crypto platform. Over time 10% or 100 million of WRX tokens will be destroyed or “burned” to raise the token value of WRX over the longer term.

Whitepaper

Official Website