How to Buy and Sell WazirX (WRX) Coin

To acquire WazirX (WRX) coin, create an account on WazirX, deposit funds into your wallet, navigate to the "Trade" section, select "WRX," choose "Buy," enter the desired amount, and confirm the order.

Nov 30, 2024 at 12:35 am

How to Purchase WazirX (WRX) Coin: A Comprehensive Guide

Introduction:

WazirX, a leading Indian cryptocurrency exchange, has its native token called WRX. It is an ERC-20 token that provides various benefits, including trading fee discounts, access to exclusive features, and participation in community governance. If you're interested in buying and selling WRX coins, this detailed guide will provide you with step-by-step instructions.

Steps on How to Acquire WRX Coin:

1. Create an Account on WazirX:

Begin by visiting the official WazirX website and registering for an account. Complete the registration process by providing your email address, creating a strong password, and going through the KYC (Know-Your-Customer) verification process, which increases security measures. This may include submitting your passport or other identity documents.

1. Fund Your WazirX Wallet:

You must deposit funds into your WazirX wallet before purchasing WRX coins. WazirX offers several deposit methods such as bank transfers, UPI payments, and credit or debit cards. Choose the most convenient method for you and follow the instructions to add funds to your account. Once your funds are settled, you can start purchasing WRX.

1. Place a Buy Order:

Navigate to the "Trade" section of the WazirX platform. Select "WRX" as the trading pair and "Buy" as the order type. Enter the amount of WRX you want to purchase and review the order details, including the number of coins and the total cost. Verify the order information before confirming and placing the buy order.

1. Wait for Order Execution:

Once you place the order, it will be added to the order book and wait for execution. The order execution time depends on market conditions and trade volume. Once the order is filled, you will receive the corresponding number of WRX coins in your WazirX wallet.

Steps on How to Sell WRX Coin:

1. Place a Sell Order:

Go to the "Trade" section again and select "WRX" as the trading pair. This time, choose "Sell" as the order type. Enter the amount of WRX you want to sell and review the order details before confirming and placing the sell order.

1. Monitor Order Execution:

As with the buy order, the sell order will be placed in the order book and await execution. Monitor the order's status to see when it is fulfilled. Once executed, the WRX coins will be sold, and the corresponding funds will be credited to your WazirX wallet.

1. Withdraw Funds:

If you want to withdraw your WRX funds to an external wallet or exchange, navigate to the "Withdraw" section of WazirX. Select WRX as the withdrawal currency and provide the withdrawal address. Enter the amount you want to withdraw and complete the necessary security measures, including entering the OTP, to confirm the withdrawal. The funds will be transferred to your designated wallet after processing.