Lightning Fast- WazirX Enables INR Deposits and Withdrawals

After a 19 month long struggle, Indian crypto traders can now deposit and withdraw their crypto assets in fiat. All thanks to cryptocurrency exchange WazirX that reinstated its INR deposit and withdrawal service within 2 days of the judgment. And this is expected to play a pivotal role in building up crypto liquidity in INR markets.

Within 29 hours of the Supreme Court of India’s favorable verdict on cryptocurrency, WazirX went live with its Indian Rupees (INR) deposits. As per the official announcement dated 5 March, any INR deposit will be processed within an hour.

In the same announcement, the team revealed its plans of “coming soon” INR withdrawal support.

And it has surprised the Indian crypto community by rolling out the INR withdrawal in a days’ time. Undoubtedly, WazirX houses a pretty hard-working team.

Could a hurry lead to worry?

WazirX CEO, Nischal Shetty ensured the platform users that all the features will be released only after regressive testing. Moreover, this is to make sure the user experience is smooth.

The Indian community is getting impatient to enjoy instant INR deposit and withdrawal support on WarizX. Additionally, Shetty confirmed that this is the next on the bucket list.

Meanwhile the month old coin WRX is exploding. In the last 7 days, WRX has gained 165.8%. The WRX token sale was conducted on Binance Launchpad in early Feb.

Active Few

However, it is important to note that the deposits and withdrawal are active only for 5 coins currently.

These are Bitcoin, Ethereum, Ripple, Litecoin and Dash.

INR Deposit Withdrawal

Source: WazirX.com

And the community is pressing for a WRX/INR pair!

Waves of optimism

WazirX is not the only one to be highly optimistic. Unocoin CEO and Co-Founder Sathvik Vishwanath also tweeted how suddenly everything is turning favorable in India.

Furthermore, he tweeted how the old Indian bank manager approached him to reopen the Unicoin account with them.

 

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