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. We’re building India’s most trusted cryptocurrency exchange and are working hard towards a launch in the next few weeks.
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 of the WRX giveaway is now live.
What is Phase 1 of the WRX coin giveaway?
Phase 1 is where we're reserving 500 WRX Coins to everyone who sign up on WazirX during the pre signup phase and submits their KYC details. This is exclusively for the first 10,000 people who sign up and submit their KYC. Your reserved WRX coins will get credited to your WazirX account when you make your first trade after the exchange is launched.
Update - Phase 1 ends at 12 AM IST on 7th Feb 2018.
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 your account
When WazirX trading launches and you execute your first trade (of any amount ), 500 WRX coins get credited to your account
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.
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
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:
We will buy back WRX equivalent to 10% of our quarterly profit as and when profitability is achieved. We commit to continue these buy backs for a minimum of 4 profitable quarters.
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.
How do I claim my WRX?
Currently, you don’t need to do anything to claim WRX. At a future date, we’ll inform everyone on the exact steps required to claim the WRX that you earn from all the various giveaways we organize. Right now, focus on earning WRX so that you can benefit from it when we officially launch it within WazirX.
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.
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 :)
BUILDING INDIA’S MOST TRUSTED BITCOIN EXCHANGE
Buy, Sell & Trade Bitcoin, Ethereum, Ripple, Litecoin and more cryptocurrencies in India. Launching March 2018.
Pre Sign up now & Earn 250 WRX Coins!