How To Transfer Money From WazirX App To Bank Account?
With a sudden surge in its popularity, cryptocurrency seems to be the future of the economy. The digital mode of currency is what seems to be enticing the modern generation. While Bitcoin started this trend, Dogecoin seems to be getting some major attention now following Elon Musk’s shoutouts. There is no direct regulatory managing cryptocurrency and their availability has been majorly associated with the dark web.
But that isn’t the case always and being a general user you can trade using crypto coins. Since cryptocurrency is a digital form of money its availability is primarily limited to online platforms. The internet has seen the rise of several new cryptocurrency exchanges in recent times that allow a user to trade (buy or sell) crypto coins.
India also has seen rising numbers of cryptocurrency buyers in recent times. WazirX is one such platform that is centred around cryptocurrency exchange in India. The platform is currently grabbing headlines for its server breach that has compromised the security of its users. What’s the case and how you can transfer your money from WazirX to your bank account? Let’s find out:
What Is WazirX? Why Is It Not Working?
WazirX is a cryptocurrency exchange that is available for both Android and iOS platforms. It claims to offer a secure model for Bitcoin trading in India. It serves as a platform for both rookies and professional investors dealing in cryptocurrency. There have been several reports suggesting an outage on WazirX.
It was believed that the company’s server was attacked which led to a halt in its services and also raised concerns with users security. However, the surge in Dogecoin price and users flooding the internet for trading queries is what led to the app crashing. This has led users to look out for ways to transfer their wallet money to bank accounts. If you are also finding out ways for the same, this article is what will guide you.
How To Transfer Money From WaziX App To Bank Account
Step 1: Open the WazirX app on your smartphones or laptop/ PCs. The steps mentioned below are with reference to Android smartphones.
Step 2: From the home screen select the cryptocurrency coin that you want to transfer to your bank account and click on ‘Withdraw’.
Step 3: Select the QR code option or type in the destination (bank or digital wallet) address.
Step 4: You can enter the coin amount that you would like to transfer or click ‘Withdraw all’ to see the entire coin balance to a bank account.
Step 5: Now add some remarks before clicking on ‘Proceed’.
Step 6: You will be taken to a confirmation screen where you need to check the details (bank address).
Step 7: Once you are done with the above step, you will receive an OTP on your registered mobile number. Confirm the details and approve the transfer via the ‘Approve this withdrawal’ option. An official email will be sent containing this option.