How to buy WazirX (WRX) in Australia
Learn how to buy WazirX (WRX) on 9+ crypto exchanges in our step-by-step guide.
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You can buy WazirX (WRX) on a cryptocurrency exchange like Digital Surge. These specialised marketplaces that allow you to buy and sell cryptocurrencies, and work similar to stock trading platforms. WRX is the native utility token of the WazirX exchange. Here's how to buy WazirX.
How to buy WazirX in 4 easy steps
The whole process can take as little as 15 minutes and all you'll need is a smartphone or computer, an internet connection, photo identification and a means of payment.
- Compare crypto exchangesThe easiest way to buy WazirX is from a cryptocurrency exchange. Comparing in the table below lets you find one with the features you want such as low fees, ease of use or 24-hour customer support.
- Create an account To create an account on an exchange, you will need to verify your email address and identity. Have some photo ID and your phone ready.
- Make a depositOnce verified, you can deposit $ using the payment method that best suits you – bank transfer, cryptocurrency, poli and osko payments are widely accepted.
- Buy WazirX You can now exchange your funds for WazirX. On easier-to-use exchanges, this is as simple as entering the amount you want to purchase and clicking buy. If you like, you can now withdraw your WazirX to your personal wallet.
Where to buy WazirX in Australia
Find an exchange to buy, sell and trade WRX by comparing deposit methods, supported fiat currencies and fees. Select Go to site to sign up directly with the provider.
How do I find the best places to buy WazirX?
Cryptocurrency exchanges offer similar services, but differ in a few key ways – mainly fees, the range of cryptos available and payment methods. You can use our table to compare the features of popular cryptocurrency exchanges available in Australia to help you choose the one that's right for you.
Some other factors you may want to consider are customer support, user reviews, ease of use and whether or not the exchange is registered with a local regulator. This information can be found by clicking on the exchange name in the table which will take you to its review page.
What will I need to buy WazirX?
To create an account on any cryptocurrency exchange you will need an email address. Some exchanges may also ask for a phone number and photo ID, so it's a good idea to have those ready.
An increasing number of cryptocurrency exchanges will ask to verify your identity before you can deposit funds and start trading WazirX.
- This process is known as Know Your Customer (KYC) and usually requires photo ID and a webcam or smartphone. You may also need to prove your address by uploading a copy of a recent bank statement or utility bill.
- Some exchanges allow you to deposit and trade cryptocurrencies without passing KYC, but they will not allow you to transfer local currency from your bank account. So if you are planning on purchasing WRX with your local currency then you will need to pass KYC.
- Once you have verified your identity, it is a good idea to enable 2-factor authentication (2FA) before depositing any funds. This will increase the security of your account and help keep your funds safe.
Where can I buy WazirX with a credit or debit card?
Once you've created an account, you will need to deposit funds to buy WRX with. You can either deposit local currency from a bank account or credit card, or transfer cryptocurrency from another exchange or wallet. Here are popular deposit methods to buy WRX on the following exchanges:
- Bank account: Transfers from local bank accounts are usually free, but you will need to double-check this with the exchange you choose – this information can be found in our table by clicking on 'view details'.
- Credit or debit card: Linking a card to your account is another convenient way to top up your account, but be aware that it usually attracts an additional fee. An advantage, though, is that you can use a card to make instant purchases or set up a recurring purchase.
- Cryptocurrency: You can usually purchase WRX by trading it for another cryptocurrency like Bitcoin or a stablecoin. This varies between exchanges though, so you will need to search for WRX on the spot market to see what cryptocurrencies it can be traded for.
What is the easiest way to buy WazirX?
The easiest way to buy WRX is by placing an 'instant buy' order to purchase it for a fixed price but not all crypto exchanges offer this feature.
Alternatively, you can open a trade on the spot market which allows you to set your own price – this is the most common way to purchase cryptocurrency. Using the instant buy feature is straightforward but typically more expensive than using the spot market.
Before buying WRX, you may want to check the market conditions. To help you decide if now is the right time to buy, you can take a look at our Analysis tools to get an idea of how the price of WazirX has been performing recently.
Best WazirX wallets to store your WRX
You can keep your WRX on the exchange you purchased it on, or move it to a personal wallet:
- Some people like to use their own wallets to guarantee total ownership over their assets, or to use them with other applications like DeFi services.
- Hardware wallets are typically considered to be the safest type of cryptocurrency wallet, as they use a physical device to enhance security in a number of ways. You can learn more about wallets and compare them with our comprehensive guide.
Recent WazirX developments
February 2022: India clarified their regulations for cryptocurrency trading, with the nation now taxing gains on digital assets by 30%. This was viewed as a positive for the WazirX exchange, as the official announcement will "help legitimise the sector".
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.
- Mining. Users can mine, unlock and earn WRX tokens by performing peer-to-peer trades.
- Supply. 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.
Additional information about WazirX can be found using our WRX analysis tools.
Today's WazirX price versus ATH
Compare today's price of WazirX ($0.224346 USD) against its all-time-high price of $2020-02-05T07:19:43.950Z USD on 01 January 1970. The closer the bar is to 100%, the closer WRX is to reaching its ATH again.
ATH date: February 05, 2020
WazirX ATH: $5.88 USD
How to trade, convert or sell WazirXYou can convert or sell your WRX with the same exchange you bought it through:
- Sign in to the exchange you have WRX on.
- If you store your WazirX in a digital wallet, compare crypto exchanges to convert or sell it on.
- Choose Sell or Convert and place a sell order.
- Choose the amount of WRX you'd like to convert or sell.
- Confirm the sell price and fees and close your sale of WazirX.
- Complete your transaction and move your WRX to a wallet for storage.
Disclaimer: Cryptocurrencies, including WazirX, are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance of WRX is no guarantee of future performance. Consider your own circumstances, and obtain your own advice, before relying on this information. You should also verify the nature of any product or service (including its legal status and relevant regulatory requirements) and consult the relevant Regulators' websites before making any decision. Finder, or the author, may have holdings in the WazirX or any other cryptocurrency discussed.
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