Sunday, February 5, 2023

WazirX Userbase Surges From Tier-2 And Tier-3 Indian Cities

Binance-owned Indian crypto exchange, WazirX experiences a surge of 2648 percent in signups from Tier-II and Tier-III cities of India, according to its report. 

The exchange also declared that it has over 7.3 million registered users on the platform. So far in 2021, the trading volume of WazirX has reached over $21.8 billion.

The report released by WazirX further notified that this year, Tier-II and Tier-III cities of India drove around 55 percent of total sign-ups on the platform. Tier-I cities also experienced a growth of 2375 percent in sing-ups.

While quoting Razorpay’s report, WazirX specified that the total digital transaction made by Tier-II and Tier-III cities of India was of 54 percent in 2020, which in 2021, increased to 92 percent.

Cities like Ahmedabad, Lucknow, Patna are part of Tier-II, and they were responsible for average growth of 2950 percent. While on the other hand, cities like Ranchi, Imphal, Mohali are part of Tier-III and their average growth on WazirX was of 2455 percent.

While talking about his company’s development, Nischal Shetty, the CEO of WazirX, said, “Crypto has immense potential to remove the financial barriers for rural India and provide cheaper access to capital, more online jobs. At WazirX, our goal is to create a secure crypto ecosystem that takes the vision of Digital India forward by transforming the country into a digitally empowered society and knowledge economy.”

It is to be noted that this time, a big percentage of women from Tier-II and Tier-III cities have joined the crypto bandwagon. 

The public statement released by WazirX specified that 65 percent of total signups have been done by women from these regions. 

WazirX offers a seamless, powerful and super fast trading experience to its customers. Currently, it is on a mission to make crypto accessible to everyone in India. 

During the Indian Independence Week 2021, the crypto exchange has been seen collaborating with other crypto projects in the country. 

On August 11, WazirX initiated a week-long giveaway to appreciate and thank the crypto tribe, and support home-grown projects and talents in the country.

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