WazirX

Q: What is WazirX?

A: WazirX is a prominent cryptocurrency exchange platform based in India. It allows users to buy, sell, and trade various cryptocurrencies such as Bitcoin, Ethereum, Ripple, and more. WazirX aims to provide a secure and user-friendly platform for cryptocurrency trading.

Q: Is WazirX legal in India?

A: Yes, WazirX is a legal cryptocurrency exchange platform operating in India. It complies with the regulations set forth by the Indian government and follows the necessary guidelines for cryptocurrency trading.

Q: How do I open an account on WazirX?

A: To open an account on WazirX, visit their website (wazirx.com) and click on the "Sign Up" button. Follow the prompts to provide your personal information, such as name, email address, and phone number. You will also need to verify your identity by submitting the required documents.

Q: What is the WazirX Refer and Earn program?

A: The WazirX Refer and Earn program allows users to earn up to 50% of the trading fees paid by their referred friends to the platform as a reward.

Q: How can I earn rewards through the WazirX referral program?

A: You can earn rewards by referring friends to WazirX and you will earn a percentage of the trading fees they pay, based on your WRX trading volume and WRX holdings.

Q: What is referral code for WazirX?

A: WazirX referral code is kpjja86j.

Q: How Does the WazirX Referral Code Work?

A: When you are given a specific referral code, such as "KPJ1A86J," here's how you can use it to participate in the WazirX Referral Program:

1. Sign-up Using the Referral Code: If you are new to WazirX and have not yet created an account, you can sign up using the WazirX referral code "kpjja86j" During the registration process, you will be prompted to enter a referral code; this is where you enter "kpjja86j."

2. Complete KYC Verification: After registration, complete the necessary Know Your Customer (KYC) process to verify your identity. This step is essential to participate in the referral program.

3. Start Trading: Once your account is verified, you can start trading cryptocurrencies on WazirX. By using the referral code "kpjja86j," you might be entitled to any benefits or rewards associated with being referred by an existing user, if such offers are available at the time of your sign-up.

4. Benefits for the Referrer: The user associated with the referral code "kpjja86j" will receive a referral reward based on the trading activity from their referrals, including you. The reward is a percentage of the trading fees paid by the referrals and will be credited to the referrer's account.

5. Reward Calculation: The specific reward percentage depends on the referrer's trading volume and WRX holdings as per the referral reward slabs.

6. Reward Payment: The earned rewards are usually paid out once a month, in the first week of the subsequent month, and are credited to the referrer's WazirX wallet in INR.

7. Tax Implications: As per the applicable tax laws, a 10% TDS may be levied on the referral rewards.

By using a referral code such as "kpjja86j," you are not just signing up to trade on the platform, but you are also potentially benefiting the person who provided the code with rewards from the trades you make, depending on WazirX's referral program policies at the time of your sign-up.

Q: What are the different reward slabs in the WazirX referral program?

A: The WazirX referral program rewards are:

• 0% for 0-500 WRX trading volume

• 15% for 500-10,000 WRX trading volume

• 25% for 10,000-50,000 WRX trading volume

• 50% for trading volume over 50,000 WRX

Q: What are the prerequisites for earning referral rewards in WazirX?

A: You must:

• Trade at least ₹10,000 worth of crypto in the last 30 days.

• Be a KYC-verified Indian user, whose PAN is linked with Aadhaar.

• Not be a specified person under section 206AB of the Income Tax Act.

Q: How is the referral reward percentage determined?

A: Your referral reward percentage is calculated based on the amount of WRX you hold. The more WRX you have, the higher your potential reward rate.

Q: Is there a Tax Deduction at Source (TDS) for the referral rewards?

A: Yes, a 10% TDS under section 194R applies. For example, if your reward for the month is INR 100, INR 10 will be deducted as TDS, leaving you with INR 90.

Q: Are referral rewards applicable to all market trades?

A: No, referral rewards are exclusive to trades made in the INR market. Trades in non-INR markets are not eligible for rewards.

Q: In what currency will the referral rewards be distributed?

A: Referral rewards will be distributed in INR only.

Q: How often are the referral rewards disbursed?

A: Referral rewards are disbursed on a monthly basis, credited in the first week of the following month.

Q: How can I start referring friends to WazirX?

A: You can start by sharing your unique referral code or link through various social media platforms like WhatsApp, Facebook, Twitter, and Telegram.

Q: How can I find my WazirX referral code or link?

A: Your WazirX referral code and link can be found within your account settings under the referral program section.

Q: Is there a limit to how many friends I can refer to WazirX?

A: No, there is no limit. You can refer as many friends as you want and potentially earn more referral rewards.

Q: Will I continue to earn rewards from my referrals indefinitely?

A: You will continue to earn rewards from your referred friends as long as they trade on the platform and the Refer and Earn program is active.

Q: What happens if my WRX trading volume changes?

A: If your WRX trading volume changes, your referral reward percentage may increase or decrease accordingly, based on the current slabs.

Q: Can I participate in the referral program if I haven't traded in the last 30 days?

A: To qualify for referral rewards, you need to have traded at least ₹10,000 worth of crypto in the last 30 days on WazirX.

Q: Is there any risk involved in referring friends to WazirX?

A: No, there is no risk involved. However, it is recommended you inform your friends about trading risks and encourage responsible trading practices.

Q: Can I lose referral rewards if my referrals perform poorly in trading?

A: No, your referral rewards are based on the trading fees paid by your referrals, not their trading performance.

Q: Are there any other benefits to holding WRX?

A: Holding WRX not only increases your referral rewards rate but may also provide additional benefits in the WazirX ecosystem, like reduced trading fees and access to exclusive token sales.

Q: Can foreign nationals participate in the WazirX referral program?

A: The referral program is currently only available to KYC-verified Indian users whose PAN is linked with Aadhaar.

Q: How does WazirX ensure the fairness of the referral program?

A: WazirX has implemented strict rules and monitoring to prevent abuse of the referral program. Participants must comply with all terms and conditions to remain eligible for rewards.

Q: What cryptocurrencies can I trade on WazirX?

A: WazirX supports trading for a wide range of cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Litecoin (LTC), Tron (TRX), and many more. The platform frequently adds support for new cryptocurrencies as well.

Q: Is WazirX secure?

A: Yes, WazirX takes security very seriously. It implements various measures to protect user funds and personal information, such as two-factor authentication, SSL encryption, and cold storage for a majority of its cryptocurrency holdings.

Q: What payment methods are accepted on WazirX?

A: WazirX accepts various payment methods for depositing funds, including UPI, IMPS, NEFT, RTGS, and popular Indian mobile wallets like Paytm, PhonePe, and others.

Q: Can I trade on WazirX anonymously?

A: No, WazirX requires all users to complete the KYC (Know Your Customer) process to comply with anti-money laundering regulations. This involves verifying your identity by submitting valid documents.

Q: Does WazirX charge any fees?

A: Yes, WazirX charges fees for trading cryptocurrencies on its platform. The fees vary depending on the type of order (maker or taker) and the trading pair. The fees are generally competitive with other cryptocurrency exchanges.

Q: How do I withdraw funds from WazirX?

A: To withdraw funds from WazirX, you need to log in to your account, navigate to the "Funds" section, and select the cryptocurrency you wish to withdraw. Then, enter the recipient's wallet address and the amount you want to withdraw, and confirm the transaction.

Q: Is there a mobile app for WazirX?

A: Yes, WazirX offers mobile apps for both iOS and Android devices, allowing users to trade cryptocurrencies on the go. The apps provide a user-friendly interface and seamless access to the exchange's features.

Q: How is the customer support at WazirX?

A: WazirX provides customer support through various channels, including email, social media, and a dedicated help center. The support team is available to assist users with any queries or issues they may have regarding the platform.

Q: Can I use WazirX for cryptocurrency lending or staking?

A: Yes, WazirX offers cryptocurrency lending and staking services, allowing users to earn interest on their cryptocurrency holdings. These services can provide additional income opportunities for users.

Q: Does WazirX have any referral or affiliate programs?

A: Yes, WazirX has a referral program that rewards users for referring new customers to the platform. By sharing their unique referral link, users can earn a commission on the trading fees generated by the referred users.

Q: What are the order types available on WazirX?

A: WazirX supports various order types, including market orders, limit orders, stop-loss orders, and more. These order types allow users to execute trades based on their specific trading strategies and preferences.

Q: Can I trade with leverage on WazirX?

A: Yes, WazirX offers leverage trading, which allows users to trade with borrowed funds, amplifying their potential gains (or losses). The available leverage levels may vary depending on the trading pair and the user's account status.

Q: Does WazirX have any educational resources for beginners?

A: Yes, WazirX provides a range of educational resources, including tutorials, guides, and articles, to help beginners understand the basics of cryptocurrency trading and navigate the platform effectively.

Q: Is there a WazirX trading academy or community?

A: Yes, WazirX has a dedicated trading academy and community platform where users can access educational content, participate in discussions, and connect with other traders. This fosters a collaborative learning environment.

Q: What security measures are in place for crypto storage on WazirX?

A: WazirX employs various security measures for cryptocurrency storage, including cold storage for a majority of its holdings, multi-signature wallets, and regular security audits. These measures aim to safeguard user funds from potential threats.

Q: Can I trade on WazirX using multiple devices or locations?

A: Yes, WazirX allows users to access their accounts and trade from multiple devices and locations, as long as they follow the necessary security protocols, such as two-factor authentication.

Q: How can I stay updated on WazirX's latest news and updates?

A: WazirX provides regular updates and news through its website, social media channels (Twitter, Facebook, etc.), and email newsletters. Users can subscribe to these channels to stay informed about new features, listings, and any important announcements from the exchange.