Wazirx Fees Review - Is Wazirx Cheaper than Zebpay?

WazirX Fees - Short Introduction

Open an Account WazirX Review

WazirX is one of the best crypto exchanges for enthusiasts and veterans alike. Since it offers a wide range of features to crypto traders, you may expect the platform to have sky-high fees. But the reality is quite different.

WazirX has reasonable crypto trading fees. You can also reduce the fees on the platform in several ways. Most importantly, the commission fees on WazirX are also comparable to other crypto exchanges.

Wazirx Fees vs Zebpay Fees

WazirX has a 0.2% trading fee for each trade, which is equal to what most crypto exchanges charge. Meanwhile, Zebpay charges 0.10% for trading fees, which is evidently lower than what WazirX charges. When compared, Zebpay is definitely cheaper than WazirX in this regard.

Wazirx vs. Zebpay Fees

Wazirx Trading Fees Explained

On a basic level, WazirX charges a flat fee of 0.20% on every transaction. It means that the takers and makers are charged the same percentage on the platform. Although many crypto exchanges have started to offer a 0.10% trading fee, WazirX’s fees are in accordance with conventionally charged trading fees on crypto platforms.

The same fee applies to all crypto pairs on the platform except the ones listed below. The fee for trading these crypto fairs is 0%, which means you can sell or buy them for free.

Besides spot trading, WazirX also offers P2P trading for the crypto pairs listed below. You can buy or sell all these trading pairs with a 0% fee. However, it’s important to note that there’s a minimum buy and sell limit of $14.5 USDT.

Photo: P2P Fees

Wazirx Non-Trading Fees

Apart from the trading fees mentioned above, WazirX also has some non-trading fees. You should know about these fees if you intend to deposit money into your WazirX account through a debit or credit card. WazirX also has additional fees for the recovery of any incorrect deposits.

Does Wazirx Charge Withdrawal Fee?

The withdrawal fee on WazirX differs for each cryptocurrency. For instance, for 1inch, you’ll have to pay a 13.3 1inch withdrawal fee while for Cardano, there’s no withdrawal fee.

WazirX also lets you withdraw your funds to Binance. For this, the platform has a ‘’Transfer Funds to Binance’’ feature that you can use for free. Your funds are instantly transferred to your Binance account. Plus, there’s no limit on the number of free withdrawals you can make.

It’s also important to know how these withdrawal fees are deducted from your account. Suppose you want to withdraw 1BTC. The fee for withdrawal is 0.0005 BTC for each Bitcoin withdrawn from your WazirX account.

WazirX will deduct 0.0005 BTC from your total amount before withdrawing the amount you have selected. Simply put, the amount you receive on your receiving wallet will be 1 BTC - 0.0005 BTC.

What About WazirX INR Withdrawal Fees?

For instant withdrawals, there are WazirX INR withdrawal fees of INR10 fee per transaction. The maximum transaction limit on the platform is INR500,000. Meanwhile, there’s an INR5 transaction fee on all NEFT withdrawals. The maximum transaction limit for NEFT withdrawal is INR50,00,000.

Other Non-Trading Fees (Optional)

WazirX also has an additional fee for the recovery of incorrect crypto deposits. Typically, the platform recommends that you be extremely careful when you deposit your crypto or transfer it from one wallet to another. It’s also important to note that although the platform can help in some instances, not all incorrect deposits and transfers are recoverable.

If you deposit crypto into the wrong address, WazirX will not be able to recover the amount. You’ll have to get in touch with the wallet owner yourself. Meanwhile, the fee for recoveries differs, depending on your individual circumstances.

WazirX claims that they waive off the fee in most cases. But in rare situations where they do levy a recovery fee, they inform the account owner before starting the recovery.

Wazirx Interest Rates

WazirX offers Deposit Dhamaka, which is an opportunity for crypto traders to earn 1% interest on their crypto in 30 days. You need to deposit your desired amount of BUSD into your WazirX account and keep it in there for 30 days.

In this duration, you’re allowed to trade the currency on the platform. However, you should not withdraw anything. If you make any kind of withdrawals in this period, inclusive of INR and P2P sell, you will no longer be a participant in the Deposit Dhamaka program.

Thus, you’ll get no bonus at the end of 30 days. However, you will still get the interest for other deposits that have completed the 30-day period. Deposit Dhamaka supports BUSD crypto deposits at the moment, and the bonus is paid out in the same currency too.

For instance, if you deposit a 100 BUSD, as per the 1% interest rate, you will earn 10 BUSD at the end of 30 days, provided you did not make any withdrawals during this period. Do note that you can still trade your BUSD on WazirX. The maximum amount you can earn from this program is INR 10,000.

Photo: Bonus Calculator

On the other hand, Zebpay has more cryptocurrencies in its Zebpay Earn program. Just like WazirX’s Deposit Dhamaka program, you can earn interest on cryptocurrencies held in your account. The interest rate for each crypto is also mentioned in the table below.

Compared to WazirX, Zebpay has more crypto options for you to earn interest on. Moreover, the interest rates for some stablecoins are up to 5%, which is quite impressive when compared to the industry average.

How to Reduce Wazirx Trading Fees?

The best way to reduce WazirX transaction fees is to use WRX, which is the utility token for WazirX. You can use the token to pay WazirX charges, such as your trading fees. You can enable this feature in your account setting:

Here’s an example of how your WazirX fees will be lower when you use the platform’s native token. Suppose you are trading BTC/USDT on WazirX. The fee for your trade was 3 USDT. Let’s say the current price of 1 WRX is equal to 1 USDT. In this case, you will pay 3 WRX as the fee for this trade. But how does this lower your trading fee? WazirX offers discounts to traders who use WRX for fee payment.

The more WRX you have in your WazirX account, the lower your trading fee will be. The platform charges you the following fees based on the WRX holdings in your account.

Keep in mind that you can use WRX for all trades except in the INR market. When you’re trading in the INR market, you pay the trading fees using INR.

Traders Union Rebate and Discount Programs

Another way to reduce your WazirX charges is to use the Traders Union. Since TU has partnered with WazirX, all TU users get discounts on WazirX commission fees by registering on TU website. Here’s how it works:

When TU users trade on WazirX, the platform sends 50% of these fees back to TU. Then, TU deposits 80% of this rebate into your account. Suppose the fee you need to pay for a trade is $10.

When you make this trade on WazirX, and you have made your account using TU’s affiliate link, WazirX will send $5 back to TU. Based on the 80% rebate policy, TU will then return $4 to you. Thus, you’ll only have to pay $6 for a trade that you’d otherwise have to pay $10 for.

Top 5 Wazirx Reviews

• 
  WazirX

  pranil

  13.02.2024

  Comment

  WazirX boasts an extensive selection of cryptocurrencies. But the fee structure is disproportionately high compared to competitors, eating into profits and discouraging active trading. Hidden fees and unclear pricing models only add to the frustration, leaving traders feeling nickel-and-dimed at every turn.

• 
  WazirX

  Maruson

  21.03.2023

  Comment

  Of course, they threw me beautifully at WazirX. At first everyone was so friendly. Filled them with money - immediately the attitude changed. And then they just did everything to drain my money. I do not recommend!

• 
  WazirX

  joeliz60

  07.02.2023

  Comment

  I can't call WazirX normal. They interfere with work, so it’s impossible to trade profitably. They leaked me a couple of times, I decided to leave. I withdrew the balance from the account for 2 months. I do not recommend trading with this company.

• 
  WazirX

  otlivnopmestfefs

  16.08.2022

  Comment

  I decided to open a trading account with WazirX. I registered, and immediately the manager of this company called me. I didn't like his aggressive demeanor. I told him about it. In response, insults rained down. I immediately knew who I was dealing with. Didn't even make money.

• 
  WazirX

  wisavi

  10.03.2022

  Comment

  This is my first time working with the Indian stock exchange, although I have heard that this country is actively developing in the field of technology. And WazirX seems to be a good exchange. Assets are popular, for the most part, except that you need to get confused with commissions, for some cryptocurrencies they are not very profitable. But the terminal is great! Clear, simple, I still have enough functionality, but we'll see. This is enough for my current level, but I think if I decide to increase volumes, I won’t stay at WazirX: it’s more pleasant to have bonuses at high volumes, which WazirX cannot offer. I recommend it for beginners and amateurs. There will be no problems with speed, replenishment and withdrawal. The rest is up to you and your work.