WazirX

Overview

WazirX is an Indian cryptocurrency exchange founded in 2018 and registered with FIU-IND. It offers spot trading with INR support and is known for its auto-matching P2P system. WazirX was previously acquired by Binance and has a large Indian user base.

Auto-Matching P2P

WazirX is known for its auto-matching P2P system, which allows users to buy crypto with INR through a peer-to-peer system that automatically matches buyers and sellers.

FIU-IND Registered

WazirX is registered with FIU-IND, providing Indian regulatory compliance under the PMLA.

Pros & Cons

Pros

FIU-IND registered — Indian regulatory compliance
Auto-matching P2P system for INR deposits
INR deposit and withdrawal support
Spot trading with various cryptocurrencies
Large Indian user base
Mobile app available

Cons

Past security incident (2024 hack)
Previously acquired by Binance — relationship ended
Limited advanced trading features
Tax compliance requirements (TDS)

Frequently Asked Questions

Is WazirX regulated?

Yes, WazirX is registered with FIU-IND (Financial Intelligence Unit – India), providing Indian regulatory compliance.

What is WazirX's P2P system?

WazirX has an auto-matching P2P system that allows users to buy crypto with INR through a peer-to-peer system that automatically matches buyers and sellers.

Is WazirX safe after the 2024 hack?

WazirX suffered a security breach in July 2024. The exchange has been working to recover funds and enhance security. Users should exercise caution and consider withdrawing large holdings to a personal wallet.