Cryptocurrency popularity is growing exponentially in India despite the government’s plan to ban it in the future. WazirX, the largest cryptocurrency exchange platform in India, has grown rapidly in the last few months. On April, 1 million new users joined the platform to make it more popular. The exchange firm plans to attract 10 million users by June. Currently, WazirX has 3 million+ users and it has crossed $2.4 billion monthly trading volume recently.
Recent Growth of WazirX
Talking about the factors involved in WazirX growth, Nischal Shetty, founder, and CEO of WazirX, said that we provide an easy user interface to our investors. Variety of digital currency options, trust, and better UI are the major factors behind WazirX success.
Earlier, WazirX doubled its user base from 1 million to 2 million in the first quarter of 2021. In a recent announcement on Wednesday, the cryptocurrency exchange platform revealed that it has added 1 million users in April. The company also said that it is planning to achieve a 10 million user base on its platform by June.
Recent cryptocurrency investment in India has indicated that people don’t care about the Indian government’s decision to ban crypto in the future. Investors are positive about the cryptocurrency future in the world. Virtual currency is a new trend in the world. Cryptocurrency platforms like WazirX, CoinSwitch have observed a surge in users and transaction value in recent months.
Riding high on the popularity of the virtual currency market, WazirX saw a surge in trading volume to $350 million in April.
Why investors are choosing the WazirX platform for crypto exchange? What is unique about WazirX? Answering these questions, Nischal Shetty, founder, and chief executive officer, WazirX, said:
“Our low spread and highest liquidity in the rupee coupled with an easy-to-use interface are already unparalleled within the market. These factors are precisely the ones driving the customer footfall.”
WazirX Launches QuickBuy Feature to Achieve 10 Million Userbase
To achieve the 10 million users mark, WazirX has started a new initiative named “QuickBuy”. This feature will allow new investors to buy their first cryptocurrency share in Rs 50. Not only that, but the firm is also bringing a single tap investment solution.
Talking about QuickBuy, WazirX said that the company plans to create more awareness about crypto investment. Generally, people are worried about the future of crypto investment. That is why WazirX wants to clear its doubts. It will help new investors to join the growing crypto platform.
How will QuickBuy help the Indian crypto enthusiasts? Shetty replied:
“We wish to take our customer experience a notch above with the launch of the QuickBuy feature. It will further streamline crypto transactions in India, thereby allowing millions of people to participate.”
In India, Cryptocurrency is in its early stage. A lot of things depend on the government bill related to crypto. Will the authorities stick to their earlier plan of banning digital currencies? Or the Indian government will make some changes to their draft bill? These questions will be answered in a couple of months. Strong rules and regulations are indeed compulsory for virtual currency investment.