Updated October 23, 2026

WazirX review covers one of India's largest crypto exchanges, founded in 2018 and later connected to Binance. This page sets out the P2P engine, the native token, the fees and the points to verify before signing up. Updated September 2026.

XRP/INR

Сrypto broker across diverse parameters

WazirX at a glance

• Founded: March 2018 by Nischal Shetty, Siddharth Menon and a third co-founder

• Users: over 2 million active, with 15 million plus having used the app

• 2019: expanded globally through a Binance partnership

• 2020: joined Binance to set up a 50 million dollar Blockchain India Fund

• Native token: WRX, giving trading discounts on INR and other pairs

• P2P engine: auto-matching for peer-to-peer trades

• Proof-of-reserves: report published in 2023

• Most active pair at the time of the source: XRP/INR, followed by USDT pairs

• Referral programme: available

What sets WazirX apart

The auto-matching peer-to-peer engine is the genuine innovation and it solves a specific Indian problem. Where banking access to crypto exchanges has been uncertain, P2P lets users trade directly with each other, and auto-matching removes the manual work of finding a counterparty. That made the platform usable during periods when conventional deposit routes were restricted.

History and Background: The WazirX Story

The WRX native token is the second differentiator. Holding WRX gives trading discounts across INR and other pairs, which is worth calculating against your volume. Note the exposure it creates: you are holding the exchange's own token, so its value is tied to the platform's fortunes rather than to the wider market.

Background

WazirX launched in March 2018 and expanded globally in 2019 through a partnership with Binance. In 2020 the two set up a 50 million dollar Blockchain India Fund. The platform published a proof-of-reserves report in 2023, which is a meaningful transparency step: it demonstrates the exchange holds assets matching customer balances, addressing the failure mode that destroyed several competitors.

What to verify before signing up

This review draws on source material dated to 2023, and the Indian crypto environment has been subject to regulatory and ownership changes. Before committing funds, check the platform's current status, its present relationship with Binance and the most recent proof-of-reserves publication. That advice applies to any crypto exchange, and with particular force in this market.

Fees and usage

The fee structure is competitive by Indian market standards, with WRX holdings reducing costs further. The app is straightforward rather than complex, which is deliberate: the platform deliberately avoids the dense interfaces some competitors use, aiming at users new to crypto rather than at professional traders.

KYC verification is required, following the standard identity document flow. Supported cryptocurrencies and trading pairs cover the main assets, with INR pairs central to the offer.

Who WazirX suits

• Indian users who need INR pairs and P2P trading

• Anyone whose bank access to crypto platforms is unreliable, given the auto-matching P2P engine

• Traders who will hold WRX for the fee discount and accept the token exposure

• Verify current status before use, since the Indian regulatory picture has changed since the source material

WazirX built real infrastructure for the Indian market, particularly the P2P engine, and published proof of reserves. Confirm its present position before depositing. Other platforms are covered in our crypto brokers list, and Phemex review covers an international alternative.

WazirX review: frequently asked questions

What is the auto-matching P2P engine?

It pairs buyers and sellers automatically for peer-to-peer trades, removing the manual search for a counterparty. That matters in India where bank routes to exchanges have been unreliable.

Global Presence

Auto-Matching Peer-to-Peer Engine

What is the WRX token?

WazirX's native token, giving trading discounts on INR and other pairs. Holding it also exposes you to the platform's own fortunes rather than the wider market.

How many users does WazirX have?

Over 2 million active users, with more than 15 million having used the app in some capacity.

WazirX has introduced account-specific fee tiers

WazirX has a solid affiliate program

WazirX is one of the few platforms that offer free INR

The fees drop to 0.20 percent

WazirX Fee Structure

Is WazirX connected to Binance?

The platforms partnered in 2019 and jointly established a 50 million dollar Blockchain India Fund in 2020. Verify the current relationship before signing up.

User Experience and Ease of Usage: Is WazirX Simple Enough for You

Has WazirX published proof of reserves?

Yes, in 2023, demonstrating that assets held matched customer balances. Check for the most recent report before depositing.

What should I check before using WazirX?

The platform's current regulatory status and ownership, since the Indian crypto environment has changed since the source material for this review.

WazirX blog also includes coin listings, market updates

What Are the Learning Resources Available at WazirX

How WazirX Responds to User Concerns

WazirX and the Security Safeguards in Place

Supported Cryptos and Trading Pair

Deposits, Withdrawals, and Order Size

The KYC flow

The App Overview