Cryptocurrency growth is phenomenal in recent times. The whole world is investing in the new form of investment option. Currencies like bitcoin, dogecoin have regularly been in the news due to the spike in their values. There are plenty of cryptocurrency exchange platforms that are making investors life easy with easy investment options. WazirX is one such platform that has grown exponentially within a short period.
About WazirX Journey
Nischal Shetty, the popular cryptocurrency influencer in India, founded the firm in 2018. Within year’s, the startup is a well-known name in the cryptocurrency exchange market. The online platform handles more than 6 lakh users.
The firm provides a platform to all cryptocurrency exchange enthusiasts globally. For global users, the firm provides Indian rupee exchange facilities without any extra charges. Those users can also withdraw the money from their places easily.
Shetty, the founder of WazirX, is in the cryptocurrency market since 2009. Initially, he started his career as a software developer. Shetty started his entrepreneurship journey with Crowdfire, a social media management platform having 20+ million users.
Shetty, a blockchain technology supporter, took crypto currency seriously in 2017. When he explored other crypto exchange platforms, it did not attract him due to their complicated user interface and transparency issue. That is how he started building a crypto exchange platform that has transparency, trust and a good user interface. He was also featured on India’s very first Forbes ‘30 under 30’ entrepreneur’s list.
WazirX platform connects normal users with expert traders to manage their investments. The company provide this facility through Smart Token Fund. WazirX platform is also recognized as the first global auto-matching P2P engine with high liquidity. The handles 100+ cryptocurrencies exchange. In 2019, WazirX got acquired by Binance, the global cryptocurrency exchange leader.
WazirX also has its cryptocurrency token with the name WRX that has a presence over 7 global cryptocurrency exchange platforms.
Growth of WazirX
On April 4, 2021, WazirX crossed $218 million daily trading volume. Currently, the firm provides 137 cryptocurrency exchange through its platform. Based on traffic, WazirX also ranks 27th among all cryptocurrency exchange platforms worldwide, as reported by CoinMarketCap. Riding high on the recent trading volume, the firm aims to reach $1 billion transaction volume on its platform by the end of 2021.
In an interview with Financial Express, WazirX CEO talked about the recent surge in its trading volume. He said:
“Daily trading volume shows the scale at which exchange is operating. More volume leads to more liquidity and more liquidity ensures that traders get the best prices with the minimum spread between buying and selling. WazirX has the highest liquidity and trading volume in the INR market in India.”
The firm has users from 180 countries. Its monthly trading volume stands strong at $2.3 billion with 1.75 million registered users.
Talking about WazirX audience and cryptocurrencies, Shetty said:
“BTC, WRX, TRX, ETH, MATIC, DOGE, ZIL are some of the top trades tokens in India. Our customers are spread across the country. Metros form a large chunk of the customers but other cities are growing fast. The majority of users are in the range of 22-to-30-year of age.”