WazirX
Image credit : WazirX.com

Even if you are a novice in the crypto world and trying to get yourself acquainted with the budding market, you must have heard the name of WazirX, which describes itself as India’s most trusted bitcoin & cryptocurrency exchange.

The Binance owned company offers its users a number of methods to deposit funds from their bank in order to buy or sell the digital coins, but some of them have been made temporarily unavailable due to recent circumstances, and have become a point of confusion for new users. Here’s a quick guide to how to use its deposit methods.

Instant deposit with Payment Gateway

Wazirx has just launched a new payment gateway for its users via MobiKwik. You can deposit money with Mobikwik by following the steps outlined below.

  1. In the top bar, choose Funds.
  2. Click the Deposit button under Indian Rupee.
  3. Choose Instant deposit – payment gateway.
  4. Enter the amount you wish to deposit and press the Continue button.
  5. You will see the total amount to be paid with your order amount, along with Convenience Fee (1.50 %) + GST (18 % )

P.S. – For example, if you wish to deposit Rs. 1000, you must pay Rs.1017.70, of which Rs.17.7 is the Convenience Fee (1.50 %) + GST (18 % )

  1. Enter your mobikwik account information and proceed to payment.

Using WazirX P2P

WazirX P2P is a service that allows you to immediately exchange your money into cryptocurrency and vice versa. It is the quickest, easiest, and least expensive technique.

To put it another way, WazirX P2P is used to buy USDT in order to trade cryptocurrencies or to sell USDT in order to cash out INR.

IMPS/NEFT/RTGS Instant Deposit (Temporarily Paused)

You may make an Instant INR deposit using IMPS, NEFT, or RTGS by following the instructions below.

  1. In the top bar, choose Funds.
  2. Click the Deposit button under Indian Rupee.
  3. By providing the bank account details from which you will deposit cash, you may link your bank account. Your WazirX account name must be the same as the name you have in your bank account details.
  4. Select Instant Deposit IMPS/NEFT/RTGS.
  5. The WazirX bank details will appear after that. Transfer money to the account provided through IMPS, NEFT, or RTGS.
  6. Your deposit will be credited to your WazirX account immediately after a successful transfer.

P.S.- For the time being, the maximum time it will take for IMPS/NEFT/RTGS deposits to reflect is 72 working hours. The majority of deposits occur in a significantly shorter period of time. If your deposit has not been reflected for more than 72 hours, you may contact the support staff.

Instant deposit with UPI (Temporarily Paused)

Follow the steps below to deposit INR into your WazirX wallet via UPI:

  1. In the top bar, choose Funds.
  2. Click the Deposit button under Indian Rupee.
  3. Choose Instant deposit with UPI
  4. Connect your UPI ID, which will be used to deposit money. For successful verification, your WazirX account name and the name in the UPI Banking system must match.
  5. After the verification is complete, proceed by entering the amount you wish to deposit.
  6. Check for the transaction in your UPI app and complete it. Your money will be processed almost immediately.

P.S. – If the UPI status is successful, your account will be credited instantly or within a few hours.