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WazirX, an Indian Crypto Exchange platform

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wazirx exchange india

Recently the Supreme Court of Indialifted the ban on Crypto Trading, this opened doors for crypto enthusiasts in India,, if not trading at least to hold some bitcoin and other cryptocurrencies.

WazirX is one of the most popular crypto exchanges in India that allows users to trade as well as offers a peer to peer network to buy and sell some of the leading digital currencies such as Bitcoin, Ethereum, Dash, Litecoin and others.

WazirX Started in March 2018, by Nischal Shetty, Sameer Mhatre and Siddharth Menon, co-founders of Crowdfire.

WazirX Team

Why WazirX?

Binance acquired WazirX exchange to launch multiple fiat gateways, makes WazirX, One of the best options to choose when you are looking to buy cryptocurrency with INR.

The fee is decent when compared to other exchanges and it is 0.2% for buying and selling, which is not a lot.

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Steps to buy Bitcoin/Cryptocurrency on WazirX?

-Download and Install WazirX app

-Signup and submit KYC, usually the KYC gets approved within two days.

Depositing INR into the Wallet

Once your KYC is approved, you can transfer money to your wallet with UPI, NEFT, IMPS or RTGS. Recommended mode of payment is UPI as it is fast and safe.

For a step by step guide Click Here.

Also, Learn how to withdraw money from WazirX

Transfer funds from WazirX to Binance

You can also transfer funds from WazirX to Binance, or from Binance to Wazirx with no fee at all.
Learn how to transfer funds from Wazirx to Binance here.

Some Important FAQ

-Is it safe to use Wazirx

In our opinion, WazirX is a reliable exchange in India, however, you should always make a habit of storing coins off the exchange after the trade to have complete control of your assets. 

-Who owns WazirX exchange?

WazirX is run by Nischal Shetty, Sameer Mhatre and Siddharth Menon, co founders of Crowdfire.

-Where is wazirx Headquarters

Mumbai, Maharashtra, India

-What is WRX token?

WRX is a native digital currency of WazirX Exchange.  There will be a maximum of 1 Billion WRX coins.

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Thank you for reading and sharing this article. We appreciate you.

IMPORTANT DISCLAIMER

Everything in this article is an opinion, not an advice of any kind. This material has been prepared for general informational purposes only and it is not intended to be relied upon as accounting, tax, investment, legal or other professional advice. Please consult with a professional for specific advice.

We do not endorse or guarantee the accuracy of the information and claims made.

All product and company names are trademarks™ or registered® trademarks of their respective holders. Use of them does not imply any affiliation with or endorsement by them.

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Lessons from the Veteran HODLERS to the Newbies!

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Lessons in Crypto

For all those who entered the crypto market after the 2017 bull run – here are few lessons from the HODLERS from the last bull run(s).

This is our attempt at making all you newbies aware of the mistakes veteran cryptoers did.

Let’s get started…

Don’t FOMO in to all the hype

FomoIt’s hard not to FOMO in crypto.  The trick is to make sure you don’t lose your shirt in crazy bets.  Always limit your bets to what you are comfortable losing.

The common ways you can become victim of FOMO are:

  • Following your favorite YouTuber without actually doing your own research on the project.
  • Investing into projects at the top.
  • Believing in promises of 100x or 1000x without any substance behind those claims.

HODLing far too long

Remember why you are into crypto – to make the money.

Never fall in love with your crypto, and HODL the tokens even when they are 10x and more.

Have a strategy to take your capital out before you become a HODLer.  

If you believe the project really has what it takes to go beyond 100x and more, just sell in instalments so as to not miss the ride.

One of the best ways to HODL is to take your capital in full and profit in tranches.

This rekt story will give you a right perspective of what it looks like, it’s one of many:

Don’t put all your eggs in one basket

Never go all in on one project. No matter how strong the project may look, even the projects with strong fundamentals don’t do well sometimes. 

And, you will be kicking yourself watching other projects go up and your portfolio just doesn’t seem to make a move.

And don’t over do it and have a portfolio with over 100 projects either. It is very difficult not to have invested in more than 15 projects but anything less than 20 is a good way to go, in our opinion. 

Put aside the share of Profits for Taxes.

One way you can get a good night’s sleep is by paying taxes. 

Always keep a habit of putting aside a % of your profits in USDT or other stable coins, as a reserve to take advantage of market volatility and also to meet your tax obligations. 

Exchanges are more evil during bull run

Foreign ExchangesDon’t trust exchanges. Yes we already know that, but they play more games during bullrun, some intentional and some technical. 

Many exchanges tend to go under maintenance when the prices shoot up too high too soon (Coinbase?), and you can’t sell. 

And the shady exchanges scam out before you know.

Regulators seem interested when the market cap of these projects goes through the roof, which then adds FUD around the project crashing the prices.  

Exchange may freeze funds pending investigations when such issues arise.

Take for example OKEx. Users are unable to withdraw their assets from the exchange for almost a month now, not certain if they ever will, and all that started with the legal dispute.

Never fall for Arbitrage gains

Arbitrage is when you buy in one exchange at a lower rate and sell on the other for a higher rate to take some profits. 

Some shady exchanges show a lot higher prices than the other genuine exchanges and when you deposit your assets to sell at those prices there won’t be actual volume to execute the trade. You may be stuck with either a high fee for withdrawal or other funky rules to take your own money out. 

Remember, there is no free Giveaway

Free CryptoScammers rise with the rising market.  

When the crypto market buzzes with all time highs – scammers cash in big time on newbies.

The most lucrative scam in crypto is ‘Free Giveaway’. Whether it be through YouYube ads or discussion groups and wherever they can get your attention.  Read this article on various sophisticated scams that are being deployed.

We hope these lessons help you through your trades and crypto life.  Stay safe and always DYOR.

Thank you for reading and sharing this article. We appreciate you.

Stay safe and healthy!

Top 5 Cryptocurrencies 2020

IMPORTANT DISCLAIMER

Everything in this article is an opinion, not an advice of any kind. This material has been prepared for general informational purposes only and it is not intended to be relied upon as accounting, tax, investment, legal or other professional advice. Please consult with a professional for specific advice.

We do not endorse or guarantee the accuracy of the information and claims made.

All product and company names are trademarks™ or registered® trademarks of their respective holders. Use of them does not imply any affiliation with or endorsement by them.

 

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Crypto Roundup: All Your YouTube Influencers in One Place

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crypto news

Visit our Crypto Roundup section daily for a dose of all your favorite Crypto YouTube influencers in one place.    

Worried about missing updates from your favorite YouTube crypto influencers?  

Welcome to the Crypto Roundup.  

On this page, we will post a quick summary of the videos from some of the most popular YouTube crypto influencers.

Ivan on Tech  Altcoin Daily

Crypto Zombie Box Mining

Ellio Trades Lark Davis

Data Dash Bitboy Crypto

MMCrypto Chico Crypto

Altcoin Daily

Video title: The United States Just Brought Bitcoin into the National Conversation!! | Cryptocurrency in 2021

Date: 16-Nov-20

  • Former National Treasurer and the new US Senator Elected, Cynthia Lummis, said Bitcoin fits the bill as a good store of value as it is finite and limited, unlike the inflationary fiat currency.

  • Grayscale adds over 7000 more bitcoin in just the last 24 hours.
  • Just over 16% ETH staked for ETH 2.0 launch on Dec 2 2020.
  • Bitcoin Cash hard fork takes place tomorrow.

Crypto Zombie

Video Title: WARNING!!! BITCOIN 2017 BEAR FRACTAL RETURNS!!! BTC WORST CASE SCENARIO…

Date: 14-Nov-2020

  • Institutional money starts flowing into bitcoin.

  • Paypal goes live with its crypto trading platform for eligible customers. They have also raised the buying limits from the initially set $10,000 to $20,000 per week.
  • DIA, an DeFI Oracle provider, integrates with Polkadot.

Ivan on tech 

Video Title: BITCOIN WILL DO SOMETHING INSANE THIS WEEK!!!! -30% DUMP AHEAD vs $20,000 PARTY – Programmer

Date: 16-Nov-2020

  • Bitcoin could make a big move this week, either hit 20K or we may see a 20% to 30% drop
  • Chainlink partners with Etherisc to deliver agricultural insurance in Kenya.

Ellio Trades

Video Title: UNLOCKING $100 TRILLION? This low cap gem seeks to bridge CeFi and DeFi

Date: 15-Nov-2020

  • DeFI could be similar to the ICO craze in 2017
  • Low cap gem: AllianceBlock
  • AllianceBlock is bridging the gap between DeFi and CeFi
  • AllianceBlock Partnership with Orion Protocol and Chainlink.

Chico Crypto

Video Title: WARNING! An “EVIL” Entity Wants Control of BITCOIN…

Date: 15-Nov-2020

https://www.youtube.com/watch?v=45Ac-5y2ofg

  • 90% of Bitcoin’s mining pools are controlled by China based mining pools
  • As the value of bitcoin goes up – there is a threat of push to ‘control’ the network from China
  • Binance is looking to push through the 50% mining share and Chico believes this could be dangerous

Visit our Crypto Roundup section daily for a dose of all your favorite Crypto YouTube influencers in one place. 

Thank you for reading and sharing this article. We appreciate you.

Stay safe and healthy!

Top 5 Cryptocurrencies 2020

IMPORTANT DISCLAIMER

Everything in this article is an opinion, not an advice of any kind. This material has been prepared for general informational purposes only and it is not intended to be relied upon as accounting, tax, investment, legal or other professional advice. Please consult with a professional for specific advice.

We do not endorse or guarantee the accuracy of the information and claims made.

All product and company names are trademarks™ or registered® trademarks of their respective holders. Use of them does not imply any affiliation with or endorsement by them.

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Be Aware of these Latest Scam Attempts!

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Different ways of crypto scams

Scammers are getting savvy.

This is bad news for every hardworking person out there.

If you are not careful – you could be handing over keys to your hard earned money to scammers, literally.

Here are few of the latest scams that we came across that we want to alert the community about.  

These scams are broadly targeting the general public, but with recent breaches at the exchanges and user data out in the open – the targeted attacks on crypto users has seen spikes.

Be careful and warn your friends, family and fellow Crypto folks.

YouTube Comment scam

Let’s say I am watching a video from CryptoZombie and I see one of the comments below with a CryptoZombie username with the same logo and everything.  

Crypto Zombie youtube scam

It is very easy to sometimes fall for these comments which usually talk about ‘an offer’ or ‘financial service’.

Be careful when you are acting on comments anywhere, whether it is on a blog or YouTube video.  Verify the username multiple times before deciding on acting on the information. 

Given this is a somewhat new scam – more and more people are falling for this.  

Newsletter scam

Newsletter scamIn an all new trick, scammers are creating mock-up versions of popular newsletters and blasting it to crypto folks.

The unassuming recipient clicks on the links that appear to be from brand names, however, are in fact a clever decoy to lure you into a scam.

CoinDesk recently reported that its emails have been forged to carry on scams. 

According to CoinDesk: “Over the past few weeks, CoinDesk has seen evidence scammers are copying our newsletters in their entirety, adding a malicious link at the top and changing the subject line to emphasize that link. They then send the email to a list of active and perhaps crypto-curious email addresses likely acquired from privacy-ignoring data brokers or the dark web, completing the phishing scheme.”

Even a newsletter is not safe from the scammers web – so always follow the golden rule: Check it before you click it.

‘Email from the exchange you trade’ scam

If you see an email that looks like it comes from an exchange that you use, for instance, Coinbase, it is quite natural that you click on the links instinctively.

Be very careful to hover over the link without clicking it to see where it originated from. 

Email Check

This extra check that is only going to take you a few seconds could save you from a potential phishing scam.

Good old ‘YouTube Livestream’ scam

Youtube giveaway Scam

Yes, they are still a thing.

With so many new video streaming services on the market, scammers are branching out.  

Scam is quite simple: scammers play a video of a press release or conference from the past as if it is going on live and right below it will be an offer to multiply your crypto.

Send 1 ETH to this address and receive 5 ETH.  

What makes this super cunning is there will be comments right below the offer where scammers use phony accounts to ‘assure’ that someone else has received the multiplier.

We assure you – no one has and no one ever will, except the scammer getting hands on your stash.

Phone text verification scam

Phone verification scamWhenever an exchange data is breached, a lot of information is leaked including your email and phone number.

When you receive a text from a number claiming to be from the exchange, it is very easy to fall for it.

For one, you wouldn’t expect scammers to know that you use that particular exchange.  

However, never click on the links.  

A good exchange always reaches out to you via email (don’t forget to hover on the link to confirm in that case).

Look for the check mark

Most of the social media platforms have a check-mark against the owner of the account.

Account verification on twitter

Look for the check-mark before you rely on the post. 

In some cases, if the offer is too good to be true even if it is from the verified account, in our opinion, it is better to stay away from it. [Remember: Twitter accounts got hacked and hackers scammed a lot of people.]

Conclusion

Scammers are deploying innovative tactics to scam people.  

It is important for each of us to stay vigilant. If you are aware of other creative scams that are not covered here – please share them for everyone’s benefit.

Also, remember the golden rule that applies to all your interactions on the internet: Check it before you click it.

Thank you for reading and sharing this article. We appreciate you.

Stay safe and healthy!

Top 5 Cryptocurrencies 2020

IMPORTANT DISCLAIMER

Everything in this article is an opinion, not an advice of any kind. This material has been prepared for general informational purposes only and it is not intended to be relied upon as accounting, tax, investment, legal or other professional advice. Please consult with a professional for specific advice.

We do not endorse or guarantee the accuracy of the information and claims made.

All product and company names are trademarks™ or registered® trademarks of their respective holders. Use of them does not imply any affiliation with or endorsement by them.

Continue Reading

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