Know All About India's Very Own Exchange, WazirX: Can WazirX's Token Reach $5.68 by 2027?

WazirX is an Indian exchange launched in 2018 and claims to be the fastest-growing cryptocurrency exchange with a user base of more than 400,000 and has an average app rating of 4.6. The exchange also caters to the needs of global users.

People all over the world want to take part in the crypto revolution today. However, many backs out due to lack of knowledge in the field, while others find Fiat <> Cryptocurrency conversion

difficult. With WazirX Peer-to-Peer (P2P) Exchange, WazirX wants to bridge the global fiat-cryptocurrency gap for the world. People face issues like face regulatory uncertainty, banking delays, and issues in buying or selling cryptocurrencies with Fiat. Moreover, the present options have the following issues:

High fiat deposit and/or withdrawal fees
2-5 days to process withdrawal
Custody of fiat funds

In the beginning, WazirX only focused on Indians; however, their aims have also been the same. They want to become the most powerful cryptocurrency exchange. As they mention in their whitepaper, they aim to provide:

World-class UX.
Completely Transparent communication.
The most powerful cryptocurrency trading software.

What Differentiates WazirX From Other Exchanges?

WazirX Exchange user interface is designed to offer a great user experience to beginners to pro traders. They enjoy a seamless platform experience. Their products and communication align with our mission to include everyone in the blockchain revolution.

There are various exchanges present in the market, how is WazirX exchange unique? The exchange claims the following points set it apart from other exchanges is:

The exchange works 24×7.
It has an Instant and auto-matching engine.
It offers Low fees.
No custody of fiat funds.

Guide To WazirX P2P Exchange

Buyers get automatically matched with a seller when they place a USDT buy order.

Both buyer and seller are required to confirm sending and receiving payment, respectively.

WazirX transfers the escrowed USDT to the buyer’s wallet.

In the end, it pays directly to the seller’s bank account.

WazirX P2P has changed the Indian cryptocurrency exchange scene. WazirX P2P topped the user choice in 2018 when the P2P options launched in India. With a rate of 9.5% every month, P2P is growing rapidly.

WazirX, as its mission, wants to be available for everyone around the world. It is a Global exchange with fiat on-ramp. It lists more than 80+ cryptocurrencies, trades in USDT, BTC & INR (Fiat) markets, and has high volume.

Wazir X’s Acquisition By Binance

Binance acquired WazirX after 20 months of its inception. After becoming a market leader in India, Binanance’s acquisition of WazirX is the exchange’s next step to enter the global market.

This will provide the platform with more access to resources. By being true to their message, they will be able to make cryptocurrency available in the world to everyone.

However, the platform will continue to be an independent brand of Binance.

Also Read: Richard Heart’s Revolutionary Cryptocurrency HEX Explained: HEX Price Prediction For 2023, 2027

WazirX’s Token: WRX

WRX is the native token for WazirX Exchange. WRX token is based on the Binance blockchain. It is a utility token with a total supply of 1 Billion. The token holders get various benefits on the trading exchange, such as trading fee discounts, WRX trade mining, token airdrop, margin fee, and more. WRX tokens are burned on the trading volume every quarter on the crypto-to-crypto platform until around 10% of WRX are not destroyed. The platform aims to burn 100M WRX tokens. The WazirX team to launch fiat on-ramps to more countries, WRX token will play a significant role in it.

WRX Price Prediction

At the time of writing, the price of WRX stands at $0.5156, down 16.02% in the last 24 hours. According to the BscScan data, it has around 9773 wallet holders. Binance, FTX, Mandala Exchange, KuCoin, and Gate.io are among the top cryptocurrency exchanges where WazirX stocks are currently trading.

Wallet Investor, a popular price prediction platform, predicts the price of WRX tokens. The platform predicts a long-term increase. Their price forecast for 2027 is 5.648 US Dollars. They expect the revenue to increase by 996.7%, with a 5-year investment. According to their price prediction, the current $100 investment will climb to $1096.7 in 2027.

WRX TradingView Chart

Another price prediction platform, Gov Capital, predicts the price of WazirX. Based on their prediction system, the asset’s future price is forecasted at $3.1777165037922 (513.459% ) after a year.

Meet The Team

The WazirX team is a bunch of members who are passionate about the emerging technology of blockchain. The WazirX founders have more than 15 years of experience in building successful global products. These are the same brains behind a social media product dubbed Crowdfire that has a user-base of more than 20 million.

Nischal Shetty

Nischal Shetty is the CEO and founder at WazirX. Nischal is a software developer turned entrepreneur. He has also been featured in the Forbes 30 under 30 lists.

Nischal has done his B.E degree in Computer Science from Visvesvaraya Technological University in 2007. Nischal did a brief stint at an MNC before joining Burrp! He also has worked at Network 18 as a software developer, where he was the core part of the team.

Nischal’s venture, Crowdfire, an AI-driven marketing assistant with a user base of over 19 million, speaks for Nischal’s amazing skills.

Sameer Mhatre

Co-founder and CTO at WazirX, Sameer Mhatre, is in-charge of all tech things. Sameer is a post-graduate in Computer science. In addition to being a fantastic full-stack developer, he also possesses amazing design skills.

Sameer is a big Java buff, and his favorite hobby is to solve programming puzzles on TopCoder. Nischal and his ties are quite old, he was also the co-founder of Crowdfire.

Siddharth Menon

Siddharth Menon is co-founder and COO at Wazir X. He is also the co-founder of Crowdfire. Siddharth has done his bachelor’s degree from the University of Mumbai.

Disclaimer

The views and opinions stated by the author, or any people named in this article, are for informational ideas only, and they do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.

Andrew is a blockchain developer who developed his interest in cryptocurrencies while his post-graduation. He is a keen observer of details and shares his passion for writing along with being a developer. His backend knowledge about blockchain helps him give a unique perspective to his writing