Cryptocurrency has become a new trend of investment. Everybody wants to own a crypto coin but most of them are unaware of how this works. WazirX is a platform where we can trade Cryptocurrency. So let’s see How to Deposit INR to your WazirX account using UPI?
What is WazirX?
WazirXis India’s Most Trusted Bitcoin & Cryptocurrency Exchange platform. It is used to Buy, Sell & Trade Bitcoin, Ethereum, Ripple, Litecoin, and more cryptocurrencies in India. It is one of the highly secured trading platforms for India. One can download the WazirX app through the google play store or the app store. It is also possible to use it on the web by directly signing up for the website.
Open your Free Crypto wallet on Wazirx
How to Deposit INR to WazirX account using UPI?
Firstly open your WazirX account, go to the account setting, select the payment options. After selecting this you can see your bank details such as bank account number, IFSC code, and account type. It includes one more thing that says “Bank account verified”. So whenever you open your WazirX account you have to complete the KYC to keep your bank account updated.
There will be one more section in the payment options itself that is UPI wherein you have to add your UPI ID of any of your online payment platforms such as Google pay, Phonepe, Mobikwik, etc. Once you update the UPI ID within 10-20 minutes you will get an email regarding the verification of the UPI ID. Then the status will change to “UPI ID-verified”. Please note that without UPI ID verification you will not be able to add money using UPI to your WazirX account.
After all these methods, now you are all set to deposit INR into the WazirX account using UPI.
Now select the fund’s section, there click on the deposit you will get an INR deposit page. On this page, you will see three options which say Instant Deposit with a bank account, Instant Deposit with UPI- option 1, and Instant Deposit with UPI- option 2.
UPI method is better compared with the Instant Deposit with a bank account. Because UPI will charge only Rs.4 per transaction. How much ever your transaction might be it will charge only Rs.4. But in the case of an Instant Deposit with a bank account, the charge per transaction will be Rs.5.9 which is approximately six rupees per transaction. Instant Deposit with bank account method will not support the UPI apps such as BHIM, Google Pay, etc. Instant Deposit with UPI- option 2 is almost the same as the Instant Deposit with UPI- option 1. Therefore it’s better to go with the Instant Deposit with UPI- option 1.
If you have selected the Instant Deposit with UPI- option 1 then it will redirect to the next page where you can see your UPI ID and below that, you can add the amount that you want to deposit. After entering the amount you will get a notification about the payment from the selected UPI apps. Clicking on the notification will help you to redirect to the UPI app where you need to make the payment. Within 5 minutes you have to complete the payment process. Payment will be reflected in the WazirX app within a minute. You will get a deposit successful message along with that you can see the transaction Id and the amount deposited.
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The user interface of WazirX is very simple and anyone can easily understand it. Talking about the trading fees of Wazirx, 0.2%is the trading fees which is less compared to other crypto exchange platforms. One more key factor is the P2P mechanism wherein traders can buy and sell crypto directly without the involvement of the Government which makes the WazirX platform more secure and trustworthy. These factors make the WazirX platform safer, user-friendly, and fast. So one can invest in cryptocurrency with the help of the WazirX platform.
Therefore I hope this article made you understand How to Deposit INR to your WazirX account using UPI.