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How to buy WazirX (WRX) in Canada

Learn how to buy WazirX (WRX) in our step-by-step guide.

WazirX (WRX) is the 398th largest cryptocurrency by market cap, valued at US$54,868,223.

WazirX is a highly volatile asset capable of major price swings in a single day. Today WRX is trading for $0.120182 USD, which is higher than yesterday's trading price of $0.1191008737 USD. Over the past year, WazirX's price has seen a decrease of -55%.

So before you buy WazirX, make sure you understand these unique risks as well as its legal and tax status here in Canada.

If you're ready to get started, read on for step-by-step instructions on how you can buy WazirX.

How to buy WazirX in 4 steps

The whole process can take as little as 15 minutes and all you'll need is a smartphone or computer, an internet connection, photo identification and a means of payment.

  1. Compare crypto exchanges
    The easiest way to buy WazirX is from a cryptocurrency exchange. Comparing in the table below lets you find one with the features you want such as low fees, ease of use or 24-hour customer support.
  2. Create an account
    To create an account on an exchange, you will need to verify your email address and identity. Have some photo ID and your phone ready.
  3. Make a deposit
    Once verified, you can deposit CAD using the payment method that best suits you – cryptocurrency, bank and card payments are widely accepted.
  4. Buy WazirX
    You can now exchange your funds for WazirX. On easier-to-use exchanges, this is as simple as entering the amount you want to purchase and clicking buy. If you like, you can now withdraw your WazirX to your personal wallet.
Disclaimer: This is not an endorsement of cryptocurrency or any specific provider, service or offering. It is not a recommendation to trade.

Where to buy WazirX in Canada

Find an exchange to buy, sell and trade WRX by comparing deposit methods, supported fiat currencies and fees. Select Go to site to sign up directly with the exchange.

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How we keep this WazirX guide up-to-date

  • WRX price data is regularly updated through data feeds so you always have the latest information.
  • WazirX performance data is regularly updated using automated comparisons and AI systems built by our technical experts Zak Killermann and Helen Hu.

How do I find the best places to buy WazirX?

Cryptocurrency exchanges offer similar services, but differ in a few key ways – mainly fees, the range of cryptos available and payment methods. You can use our table to compare the features of popular cryptocurrency exchanges available in Canada to help you choose the one that's right for you.

Some other factors you may want to consider are customer support, user reviews, ease of use and whether or not the exchange is registered with a local regulator. This information can be found by clicking on the exchange name in the table which will take you to its review page.

What will I need to buy WazirX?

To create an account on any cryptocurrency exchange you will need an email address. Some exchanges may also ask for a phone number and photo ID, so it's a good idea to have those ready.

An increasing number of cryptocurrency exchanges will ask to verify your identity before you can deposit funds and start trading WazirX.

  • This process is known as Know Your Customer (KYC) and usually requires photo ID and a webcam or smartphone. You may also need to prove your address by uploading a copy of a recent bank statement or utility bill.
  • Some exchanges allow you to deposit and trade cryptocurrencies without passing KYC, but they will not allow you to transfer local currency from your bank account. So if you are planning on purchasing WRX with your local currency then you will need to pass KYC.
  • Once you have verified your identity, it is a good idea to enable 2-factor authentication (2FA) before depositing any funds. This will increase the security of your account and help keep your funds safe.

What are the best ways to buy WazirX?

Once you've created an account, you will need to deposit funds to buy WRX with. You can either deposit local currency from a bank account or credit card, or transfer cryptocurrency from another exchange or wallet. Here are some popular ways to buy WRX:

  • Bank account: Transfers from local bank accounts are usually free, but you will need to double-check this with the exchange you choose – this information can be found in our table by clicking on 'view details'.
  • Credit or debit card: Linking a card to your account is another convenient way to top up your account, but be aware that it usually attracts an additional fee. An advantage, though, is that you can use a card to make instant purchases or set up a recurring purchase.
  • Cryptocurrency: You can usually purchase WRX by trading it for another cryptocurrency like Bitcoin or a stablecoin. This varies between exchanges though, so you will need to search for WRX on the spot market to see what cryptocurrencies it can be traded for.

What is the easiest way to buy WazirX?

The easiest way to buy WRX is by placing an 'instant buy' order to purchase it for a fixed price but not all crypto exchanges offer this feature.

Alternatively, you can open a trade on the spot market which allows you to set your own price – this is the most common way to purchase cryptocurrency. Using the instant buy feature is straightforward but typically more expensive than using the spot market.

Before buying WRX, you may want to check the market conditions. To help you decide if now is the right time to buy, you can take a look at our all-time high tool to get an idea of how the price of WazirX has been performing recently.

Best WazirX wallets to store your WRX

You can keep your WRX on the exchange you purchased it on, or move it to a personal wallet:

  • Some people like to use their own wallets to guarantee total ownership over their assets, or to use them with other applications like DeFi services.
  • Hardware wallets are typically considered to be the safest type of cryptocurrency wallet, as they use a physical device to enhance security in a number of ways. You can take a look at some of our top hardware wallet picks for self-custody of your WRX below.

Ledger Nano X Wallet

Trezor Model T Wallet

Go to site
Go to site

Supported assets

5,500+

Supported assets

1,317+

Price (USD)

$149

Price (USD)

$186

Disclaimer: This information should not be interpreted as an endorsement of cryptocurrency or any specific provider, service or offering. It is not a recommendation to trade.

Is WazirX a good investment?

Investing in altcoins, especially new coins such as WazirX, can be risky. It’s important to understand its investment potential and use cases before investing in WRX. Main things to consider are:
  • Discount on the trading fee onlined on its blog. One of the use cases of the WRX token is it allows users of the WazirX to access a discount on their trading fees. Over 4 years the trading fee discount is set to be reduced from 50% in year 1 to 6.25% in year 4.
  • Other user cases. WRX holders can use the tokens to pay for listing fees on the WazirX exchange or pay for fees on margin trades.Governance. As a WRX holder you will be able to suggest what features should be added to the WazirX exchange and get the right to vote in coin listings.
  • Mining. Users can mine, unlock and earn WRX tokens by performing peer-to-peer trades.
  • Supply. The supply of WRX is capped at 1 billion. The tokenomics of WRX is designed so that WRX tokens are based on the trading volume of WazirX’s crypto-to-crypto platform. Over time 10% or 100 million of WRX tokens will be destroyed or “burned” to raise the token value of WRX over the longer term.

Today's WazirX price versus ATH

Compare today's price of WazirX ($0.120182 USD) against its all-time-high price of $5.88 USD on 05 April 2021. The closer the bar is to 100%, the closer WRX is to reaching its ATH again.

WazirX's price: $0.120182
ATH date: April 05, 2021
2.04%

WazirX ATH: $5.88


How to trade, convert or sell WazirX

You can convert or sell your WRX with the same exchange you bought it through:
  1. Sign in to the exchange you have WRX on.
  2. If you store your WazirX in a digital wallet, compare crypto exchanges to convert or sell it on.
  3. Choose Sell or Convert and place a sell order.
  4. Choose the amount of WRX you'd like to convert or sell.
  5. Confirm the sell price and fees and close your sale of WazirX.
  6. Complete your transaction and move your WRX to a wallet for storage.
  1. QZ
  2. WazirX blog: A Brief History of WRX
  3. Data by CoinGecko

Disclaimer: Cryptocurrencies, including WazirX, are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance of WRX is no guarantee of future performance. Consider your own circumstances, and obtain your own advice, before relying on this information. You should also verify the nature of any product or service (including its legal status and relevant regulatory requirements) and consult the relevant Regulators' websites before making any decision. Finder, or the author, may have holdings in the WazirX or any other cryptocurrency discussed.

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