WazirX is one of those fastest growing Indian Cryptocurrency trading platforms who analyze scope of growth of Cryptocurrency industry in India. WazirX is first peer to peer exchange platform which launched after Reserve Bank of India’s decision to ban cryptocurrency trading transactions from or to Indian Banks. WazirX was launched in year 2017 by team of 3 members including Mr. N. Shetty, Mr. Sameer Mhatre and Mr. Siddharth Menon. Head office of WazirX is located at Mumbai as per official website. WazirX is also well-known for initializing a way to buy cryptocurrency using hard cash that is Indian Rupee.
Recently Binance who is one of world’s best cryptocurrency trading and exchange platform has acquired India’s one of the best trading platform WazirX. This is big move by Binance to make more reach to Indian crypto investors. Along with this Indian Supreme Court also ordered to remove ban on cryptocurrencies. These two events will surely boost up WazirX performance in coming few days. WazirX is keeping themselves in competition by listing new arrival cryptocurrencies like Hive, FIT, MATIC and BAND etc.
WazirX launched their own cryptocurrency “WRX” earlier this year in February 2020, like other crypto trading platforms to support their own ecosystem and share rewards with their loyal and early adapter customers. This WRX coin is based on Binance chain and available to trade on multiple crypto trading platforms like Binance, FIT and WazirX itself.
There is a cap on total supply of WRX coin like bitcoin(BTC) but only thing is maximum WRX coin count would be 1 Billion. Out of total supply of WazirX coin, currently in June 2020, 107 Million WRX coins are being circulating in market.
Review of WazirX
WazirX has around more than 10 lacs download of their mobile android applications. Around more than 10 thousand users have rated this coin with average star rating of 4.2 out of 5. From this we can say WazirX is quite popular and doing well compared to other crypto trading platforms in India.
They promote high value trading with the help their weekly “Highest Trader Kaun?” named reward program in which WazirX team rewards those investors who have trade highest amount with WRX coins in a day or 2 depending on event guidelines. Now let’s understand pros as well cons of this Indian crypto trading platform.
Following are few Pros and Cons of WazirX crypto trading or exchange platforms. You must have a glance over it.
|Pros of WazirX||Cons of WazirX|
|India’s one of most trusted and safest Indian Crypto trading platform.||Low Trade Volume.|
|Too frequent reward programs for their supporters and customers.||Takes longer time for withdrawal of money for some banks.|
|Lists New (Crypto) Coins in Market in early stages.||Limited choice of cryptocurrencies to trade compared to other platforms.|
WRX Coin Price Analysis
WRX coin started listing in CoinMarketCap in month of February 2020 with price of USD 0.14$ and shown a good growth in first 20 days and reached all-time high value of USD 0.22$ after RBI revoked ban on cryptocurrencies, but soon it dropped after 6 days and reached their all-time low of USD 0.05$. Later it has shown some steady graph fluctuating between USD 0.12$ and USD 0.14$ till now. The major reason behind this steadiness is probably Corona Virus as in the Middle of march Lockdown was imposed in most part of India for more than 3 months. This has very bad impact on many business and trading industry as well.
WRX Price Prediction
After 3 months of lockdown, Indian government along with other country government are gradually unlocking/relaxing restrictions on business to boost economy. This will also help cryptocurrency and trading industry as well. Being a backbone of WazirX, India’s one of the most trusted crypto trading and P2P exchange platform, WRX coin will surely survive this pandemic. It shall start showing slow but steady growth in coming few years.
Following is some probable figures of growth percentage based on current price of WRX coin. But you should never use this data as an input any investment related moves. No prediction tool is reliable and 100% guaranteed to make investment decision. Cryptocurrency market is very volatile and may result in full loss of principle amount. You should invest at your own risk.
|Period||Growth Percentage based on the current price of WRX(Expected)|
|In Next month||2%|
|In Next Quarter||4%|
|In Next Year||15%|
|In Next 3 Years||35%|
|In Next 5 Years||80%|
|In Next 10 Years||130%|
Note:- Above figures are just expected(probable) figures and there are solid chances that it could fail to reach. So never use it as input for any investment related decisions.
WRX coin is kind of stable cryptocurrency which will definitely grow but with low growth rate. So, if you are intra-day kind of investor then you might need to wait longer time to gain some acceptable profit. If you are looking for safe and low return investment for longer duration, then you must think WRX coin as an option. Thanks.