WazirX was acquired by Binance, a global cryptocurrency exchange, in November 2019. Binance is one of, if not the largest, cryptocurrency exchange in the world. Binance has a number of innovative crypto trading capabilities that no other Indian crypto exchange has. Additionally, Binance has the largest collection of cryptocurrencies on its site, with over 500 coins and tokens available for purchase. WazirX users who wish to acquire more cryptocurrencies that are not available on their platform but are available on Binance can do so by linking their Binance and WazirX accounts.
Since WazirX is partly owned by Binance, users can freely transfer funds and cryptocurrencies between the two exchanges. WazirX money transfer is a simple process. Before doing anything more, they should make sure they have accounts on WazirX and Binance. Transferring funds between WazirX and Binance is straightforward once users set up their accounts on both platforms.
How to transfer money from WazirX to Binance?
- Visit Binance and click on âWalletâ. The âThird party accountâ option will be available under Wallet.
- Select âThird Party Accountâ from the drop-down menu. After clicking on it, a new page will appear, with the option “WazirX” and a button to “activate”. Select it by clicking on it.
- You can now log into your WazirX profile using your Binance account.
- Access the WazirX app once your Binance account is linked to your WazirX account.
- Select any cryptocurrency you want to transfer to Binance from the money menu.
- Select the part, and then select Remove.
- You will see a link to Binance where you can send your cryptocurrency.
- Use the WazirX funding option to transfer money and bitcoin. You can also watch the video above to better understand the procedure.
CEO of WazirXIndia on the Anti-Crypto Bill; crypto markets fall
The cryptocurrency market in India suffered from volatility on Tuesday, following reports that an anti-crypto bill could be introduced later in the winter session of parliament. The central government is expected to present âthe Cryptocurrency and Official Digital Currency Regulation Bill, 2021â during the winter session of Parliament, which will restrict the use of most cryptocurrencies, except for a few. As of this morning, all major cryptocurrencies had fallen 15% or more, with Bitcoin down more than 17%, Ethereum down almost 15%, and Tether almost 18%.
In an exclusive interview with Republic Media Network, CEO of cryptocurrency trading platform WazirXIndia, Nishal Shetty claimed that cryptocurrencies classified as assets and utilities would be exempt from the ban. It should be noted that the stated purpose of the bill is to establish a framework facilitating the formation of the official digital currency to be issued by the Reserve Bank of India (RBI).
âThe Central Bank’s digital currency package is a big win overall as it allows RBI to eventually offer India’s own digital token. But other crypto assets are not mutually exclusive. . Bitcoin and everything else are not cryptocurrencies, they are assets and utilities. So these are very exclusive things to each other. ”
Shetty also seemed to be against the idea of ââa total ban because he said, âTo create a national digital currency, you don’t have to worry about banning an asset or utility. You can certainly ban any crypto that wants to be a currency. It’s been done in a few other countries, but it doesn’t mean a total ban on all of the technology or the entire blockchain ecosystem. “