Quick Answer: Is WazirX illegal in India?

Is WazirX is legal in India?

Cryptocurrency is not illegal in India. WazirX is a trusted Bitcoin and cryptocurrency exchange & trading platform. There are even tax rules which are made by the Central Board of Direct Taxes.

Is WazirX App legal?

WazirX is in compliance with all applicable laws,” the company tweeted. A couple of hours before, ED had tweeted through its official handle: “ED has issued Show Cause Notice to WazirX Crypto-currency Exchange for contravention of FEMA, 1999 for transactions involving crypto-currencies worth Rs. 2790.74 crore.”

Can we trust WazirX?

Regarding security, WazirX seems to offer regular security audits to ensure a highly secured platform. This has been represented by their security score received. The security score is C, rated by Mozilla at the Observatory test, which is in line with the global industry average.

Which is better Binance or WazirX?

As for the comparison between these two, WazirX will simply be the better choice for Indian users, because of the exorbitantly high withdrawal fees charged by Binance. … 700 INR, whereas WazirX charges Rs. 5 to 10 per withdrawal, depending on the type of withdrawal you use.

Is it legal to sell Bitcoin in India?

However, given this background, one cannot conclude that bitcoins are illegal as, so far, there has been no ban on bitcoins in India. The Supreme Court of India has in its ruling pronounced on 25 February 2019 required the Government to come up with Cryptocurrency regulation policies.

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Can I invest 100 RS Bitcoin?

Just like there is no minimum limit of investing in stocks, there is no defined minimum amount to buy Bitcoin in India. … In India, an investor can buy Bitcoin in Indian Rupees with a minimum capital of Rs. 100. That said, this limit could vary between various crypto exchanges.

Which is the cheapest cryptocurrency?

Dogecoin: $0.2843

DOGE, the coin that has risen to prominence earlier this year, thanks to Elon Musk, is the cheapest cryptocurrency to purchase in 2021. Dogecoin is currently one of the cryptocurrencies that many analysts consider to be a viable investment option.

Which app is better than WazirX?

CoinSwitch app is the best cryptocurrency trading platform by providing you with a seamless user experience, through a simplistic user interface. Buy, sell, trade over 300 cryptocurrencies, altcoins, tokens like Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Litecoin (LTC) etc.