On Thursday afternoon, WazirX Chief Executive Officer (CEO) and founder, Nischal Shetty announced that the exchange had been listed on CoinMarketCap.
Following this announcement, Crypto-News India reached out to Shetty and asked him some questions on how this exciting development came about. Here’s what we found out:
Q1. Some of our readers know about WazirX but others may not have heard of the exchange. Could you please elaborate on what sets the exchange apart from other exchanges?
There are a lot of things that set us apart from our competitors:
- WazirX has a fully functional product on Web, Android and iOS. We may be the youngest crypto exchange in India, but we have the most experienced tech team behind it. Because of this, our app has a very high rating of 4.4!
- WazirX P2P – We’re completely overwhelmed with the positive response to it. WazirX P2P is the fastest way of depositing and withdrawing INR in India right now with more than 1 trade per minute. It makes traders keep coming back as they know that P2P is the best alternative after the RBI Ban.
- Referral program – It’s the best in business with the highest payout commission. It’s also a great opportunity for you to earn and grow with us.
- WRX Mining Program – People like it because it’s the easiest way to earn WRX – all they need to do is trade on WazirX.
Q2. So, WazirX got listed on CoinMarketCap today. In this bearish market, this seems like a drop of water in a desert. In a larger scheme of things, do you think this is a sign that the Indian market may finally be taken seriously in the crypto sphere?
Considering the sheer size of our population and the percentage of youngsters in India, everyone in the world is watching us closely. But due to our current (uncertain) stance on crypto, a lot of projects find it risky to expand in India. I really hope that the Supreme Court verdict will change that, and India will be seen as a pro-crypto nation!
Q3. How exactly did this development come about? For instance, how long did it take, was there some kind of internal auditing undertaken by CMC? What were the criteria that they looked at?
We applied via the listing form on their website and submitted all the relevant documents. It took some time, but it happened.
Q4, As you know, the Indian community has been waiting for a judgement from the Supreme Court on the fate of cryptocurrency exchanges. Irrespective of what the judgement is, what does WazirX have in mind for the road ahead? (Future products, features that the company is working on, possibly)?
We’re hopeful that the Supreme Court will rule in favour of cryptocurrency exchanges, and banking services will resume – this will cause the trading volume in India to soar! But in case this doesn’t happen, we’ll continue making P2P better for our users every day. We’ll also start focusing on educating our users about our new Referral program so that they can make the most out of it, and earn money.
Apart from this, we do have some interesting features planned out, and will reveal in due course.