WazirX is surviving in India despite the crypto ban. Is WRX a good investment?

WazirX is surviving in
India despite the crypto ban. Is WRX a good investment?
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WazirX has the ability to tide over the crypto ban being relatively more minor than other cryptos.  Just after its launch in 2018, a ban was imposed on cryptocurrencies in India by the Indian Central Bank. After that, trading volumes were dropped severely on significant exchanges, and even many players had to shut down in India.

WazirX managed to survive at that time due to its newness in the market. Its smaller size was instead an advantage. Being new at that time, the platform was at the lowest possible level, so the ban was probably impacting the more significant exchanges more deliberately. It has launched a peer-to-peer system for eliminating the need for financial institutions. At that time, it was a crucial step to link the sellers and the buyers directly.

The total trading volumes on the platform are increasing day by day. It has an average of $2.3 billion as a monthly trading volume. The market price of WRX is $3.16 after a decrease of 8.82% over 24-hours at the time of writing. The platform has a market capitalization of more than $792,982,577. Founded in 2018 by Nischal Shetty, WazirX aims to be the fastest-growing crypto exchange in India.

The native token of WazirX is WRX which is based on Binance Blockchain. The major exchange platforms to trade WRX include FTX, HitBTC, Binance, Gate.io, and Bilaxy. The crypto holders are rewarded with various benefits, including token airdrop, WRX trade mining, and fee discounts. WazirX aims to make the currency available and accessible to everyone in India.

The acquisition by Binance is one of the crucial reasons that helped in the growth of WazirX. The platform has suffered many ups and downs since its launch, and the Binance network has enabled it to build a better exchange.

WazirX is believed to be an excellent platform to sell, buy and trade virtual currencies with great trust and ease. It has set its goal to indulge every citizen in the revolution of blockchain at an unprecedented pace. WRX can be a profitable investment if you are looking for crypto with good returns. In the coming few years, WRX is expected to increase by more than 200%, making it an excellent investment option.