What is WazirX?
WazirX is a cryptocurrency exchange that will enable you to Buy, Sell & Trade digital assets like Bitcoin, Ethereum, Litecoin, Ripple etc in India. It offers a simple yet powerful interface with real-time open order books, charting, trade history, deposit & withdrawals so you can trade and invest in some of the world’s best performing digital assets.
What are WRX coins?
Just like Bitcoin, WRX is a digital asset. There will be a maximum of 1 Billion WRX coins ever created and over a period of time, we expect the value, utility, and liquidity of WRX to increase substantially.
By owning WRX coins through the WazirX signup and referral reward program, you become one of the early holders of the coin and we expect you to reap benefits with the rising utility & demand of the coin.
Why are you giving away free WRX coins?
The first step to gaining your trust is to involve you in helping us build WazirX. We want to reward you for joining in early and being part of the WazirX success. We intend to build a strong user community and reward our user community accordingly for the help they provide. This also helps us stay true to the ethos of crypto and blockchain - to share the wealth instead of hoarding it.
In order to be able to reward our community, we’ve planned to launch WRX. Instead of launching an ICO first, we intend to include our community members as the first holders of WRX.
There will be multiple ways of earning WRX without needing to pay for it for early adopters of our community.
How can I be part of the token giveaway?
We're giving away WRX coins in phases.
Phase 1 (Completed)
Update - Phase 1 completed at 6:30 PM UTC on 6th Feb 2018.
Phase 1 is where we're reserving 500 WRX Coins exclusively for the first 10,000 users who sign up on WazirX during the pre-signup phase and submit their KYC details within 15 days of signing up. Your reserved WRX coins will get credited to your WazirX account when your KYC is approved and you make your first trade before the cutoff date.
Referral Program - In Phase 1 you can also earn an additional 100 WRX coins by using your referral link to invite friends. Your friend will earn an additional 100 WRX Coins too. More details - WazirX Referral Program - Participation, Tracking & Rules
How to participate in Phase 1?
Phase 1 of our WRX Community Distribution Program involves pre-signing up on WazirX. You need to do the following:
- Sign up & Complete your KYC details
- We will verify, approve your account and reserve your WRX coins
- When you execute your first trade of any amount before the cutoff date, WRX coins get credited to your account.
Phase 2 (Completed)
Phase 2 is where we're reserving up to 250 WRX Coins for users who sign up on WazirX during the pre-sign up phase and submit their KYC details and trade within 30 days of signing up. Your reserved WRX coins will get credited to your WazirX account when your KYC is approved and you make your first trade before the cutoff date.
The phase has 3 parts to it -
- First 30,000 Traders - Earn 250 WRX coins when you sign up - Completed at 07:00 AM UTC on 21st Feb 2018
- Next 30,000 Traders - Earn 100 WRX coins when you sign up - Completed at 07:00 AM UTC on 12th Dec 2019
- All New Traders - Earn 25 WRX coins when you sign up - Completed at 6:29 PM UTC on 27th Jan 2020
Referral Program - In Phase 2 the referral program continues and you can earn an additional 25 WRX coins by using your referral link to invite friends. Your friend will earn an additional 25 WRX Coins too. More details - WazirX Referral Program - Participation, Tracking & Rules
How to participate in Phase 2?
Phase 2 of our WRX Community Distribution Program involves pre-signing up on WazirX. You need to do the following:
- Sign up & Complete your KYC details
- We will verify, approve your account and reserve your WRX coins
- When you execute total trades worth 100 USDT, WRX coins get credited to your account - Effective from 27/12/2019.
WRX Mining
You can unlock and earn upto 10,000 WRX every single day by trading and mining WRX. It is currently the most rewarding way to earn WRX. Read all about it here - WRX Mining - Unlock & Earn upto 10,000 WRX Coins Daily!
Why do I have to execute a trade at least once in order to claim WRX?
We want to make sure coins are earned only by those who are really interested in crypto and the best way to identify that is to see you make a trade inside WazirX. This helps us avoid giving away the coins to non-crypto believers. So please make sure you execute your first trade of any amount before the cut off date so the WRX coins get credited to your account.
What is the cutoff date to execute the first trade to claim WRX?
Depends on when you signed up -
- If you signed up on or before 8th March 2018 - You need to execute your first trade by 8th May 2018
- If you signed up after 8th March 2018 - You need to execute your first trade within 30 days of signing up.
What do you consider a trade?
A Buy or Sell order that is partially or fully filled will be considered a trade to qualify you for the WRX. Depositing or Withdrawing INR or Cryptocurrency is NOT considered a trade.
How can I see my WRX balance?
You can see your WRX balance by heading over to the Funds screen. Tap on WRX to see a breakdown of the WRX you've received.
What would be the next phases of WRX distribution and when would they launch?
We’re working on a few more phases internally and we’ll announce new phases of the WRX Community Distribution Program soon for you to be able to earn more WRX. You can keep track of these by joining our Telegram Channel - http://t.me/wazirx and following us on Twitter (twitter.com/wazirxindia).
What’s the future of WRX?
We have quite a few interesting use cases lined up for WRX and how you can benefit from it. A few of the future implementations would be:
- Discounts on trading fees exclusively for WRX token holders.
- We intend to launch our decentralized exchange in the future when the technology for such a decentralized exchange is feasible. At that point, WRX may be used as gas within such a decentralized exchange.
Related blog post - Revealing the first two use cases of WRX
Can I use WRX to trade BTC/ETH and other altcoins?
As and when we list WRX on WazirX, you will be able to trade it like any other cryptocurrency. You will also be able to use WRX Coin for any other use cases we enlist in the future. Since WRX is a utility coin/token for our platform WazirX, we have plans of bringing in more use cases for WRX eventually.
Related blog post - WRX is here + Revealing Milestone 1 for WRX listing
Do I need a special wallet for the WRX tokens?
No, you do not need a special wallet for WRX tokens. WRX will be credited to your WazirX wallet and stored there once you complete your first Buy, Sell or Trade.
We'll update this article regularly with FAQs we receive from the WazirX community :)
Do follow us on Twitter (https://twitter.com/wazirxindia) and join the WazirX Telegram channel (https://t.me/wazirx) for the latest updates & announcements about WazirX.