Is Wazirx a safe platform?

gopal · Post time 27-8-2023 21:56:17

I was thinking of switching from Binance to some Indian crypto platform. Is WazirX a good platform? Are there any safety issues?

sourav · Post time 27-8-2023 22:21:14

WazirX has the highest liquidity in India. It is safe and I have not experienced any issued trading on WazirX yet.

dharmendar · Post time 27-8-2023 22:48:29

Most of the crypto that an exchange holds is placed in cold wallets which are very difficult to hack. All crypto exchanges that have some reputation are generally safe.

gulab · Post time 27-8-2023 23:45:33

WazirX is safe if you stick to regular trading in exchange. However, P2P trading is not safe, neither in this nor any other exchange. The simple reason is that once scammers get the crypto, they will never transfer you the cash or vice versa. Once I had to report several times the P2P seller and finally I was paid crypto by the exchange as a one-time settlement. Therefore, if you want to trade on WazirX, stick to the regular exchange part and dont even try P2P.