Buying and Selling Cryptos on WazirX using INR.
Are you wondering how to buy and sell crypto currencies via Indian Rupee, this is the second part of the blog series for buying cryptocurrencies, for the basics of Wazir Platform and getting started just refer to my previous blog . Let’s start buying and selling step by step.
In this blog we can get the better understanding of how to deposit money on wazirx . Also , after depositing money we can buy the crypto and also sell the crypto using INR.
- To add INR to wazirx , lets go to the wazirx home page, and go to account settings:
2. After opening Account Settings select the payment option as shown in the below image.
3. We can add money using Net banking , using wallet Mobikwik and Person to Person. We will focus upon adding money via mobikwik wallet.
4. In wazirx we can deposit money from bank but there are very selected banks and money must be deposited using Net Banking only.
Those banks are mentioned below.
i) Catholic Syrian bank.
ii) Deutsche bank.
iii) Dhanlakshmi bank
iv) Federal bank.
v) Indian bank.
vi) Indian overseas bank.
vii) Jammu and kashmir bank.
viii) Punjab National bank.
ix) IDFC bank.
x) Lakshmi Vilas bank.
xi) Karnataka bank.
xii) Karur Vysya bank.
5. Don’t worry if you do not have an account with any of bank from the list shown above. In any case you can use Mobikwik wallet to deposit money. Just create an account to mobikwik and add money to mobikwik wallet from your respective bank.
6. Charges for depositing money to wazirx
Using P2P money sharing we will do it in the next blog.
7. Charges of withdrawal.
We can withdraw money to any bank . Instant Withdrawal is the best option because NEFT withdrawal sometime takes 2–3 working days.
8. Trading charges:
For buying and selling any crypto wazirx take 0.2 % charge.
9. For depositing money to wazirx we can select from the Funds option which is shown in the below image.
Deposit INR as per your convenience you can use Net Banking , Mobikwik wallet, we will select the Mobikwik approach for this blog.
10. When you select any crypto from home page you can see the following image.
O -indicates at which price market opens
H -Highest price
L -Lowest Price
C -The last transaction placed at 11:59 pm
11. Buying the first crypto.
We can select Limit or Stop Limit . At what price you buy the crypto and in how much INR you have to buy. The last box indicates the total amount you have.
12. Once you have Bitcoins in your wallet, you can hold them for some time, later go to the exchange pair of BTC/INR , and press Sell BTC button as shown below:
Your order will get executed within some time, and later you can withdraw these profit booked INR’s into your bank account.
Congratulations for booking your first crypto profit.
For any further Queries or anything related to Blockchain, Cryptos, Ethereum / Dapp Development you can DM me on Linkedin or instagram id=acanubhav94.
