WazirX NFT marketplace Review 2022: Best place for the Indians to trade NFTs?

WazirX NFT marketplace is the best place for Indians to trade NFTs.

WazirX is a cryptocurrency exchange and trading platform that allows users to buy, sell, and trade digital assets. 

The platform supports more than 100 cryptocurrencies and over 1,000 trading pairs. It has low fees of 0 to 0.1% on every trade. 

The exchange offers two different types of accounts – Standard and Premium. The Premium account comes with several benefits like an extra margin for leverage trading, higher withdrawal limits, advanced charting tools and technical analysis indicators.

The WazirX team has been around for quite some time now, but it was not until recently that they decided to expand their offerings by allowing users to trade NFTs on their platform. In this article we will be looking at WazirX NFT marketplace review. 

What is an NFT Marketplace?

NFTs are a new form of digital asset that is based on the blockchain technology. NFTs can represent any kind of digital or physical asset, including collectibles.

In the same way that you can buy or sell stocks on an exchange, you can also buy and sell NFTs on a marketplace. An NFT marketplace is an online platform where users can buy and sell their NFTs to other users with cryptocurrency.

NFT marketplaces allow users to trade in their assets at any time and place their assets into escrow until they have received payment from the buyer.

WazirX NFT marketplace review
WazirX NFT marketplace

WazirX NFT marketplace review: What is WazirX 

WazirX is a cryptocurrency exchange that offers services for both Indian and international users. One of its main selling points is the fact that it allows you to buy, sell and trade non-fungible tokens (NFTs) on its platform.

NFTs are unique digital assets that can be used as collectibles or assets in games like CryptoKitties or Gods Unchained. NFT (Non-Fungible Token) is a token that has its own unique identity. Its value cannot be divided into pieces. Unlike ERC20 tokens which can be divided into smaller parts and the same number of tokens can be created by anyone, NFTs are unique assets and their values are determined by their respective owners.

WazirX offers a separate NFT marketplace where users can trade non-fungible tokens (NFTs). It also offers a special feature called ‘Auto-Buy’ which allows users to automatically purchase any NFT at regular intervals or when certain conditions are met (e.g., when its price goes above a certain threshold).

WazirX is the first NFT (non-fungible token) marketplace in India. It is a peer-to-peer exchange that allows users to buy, sell and trade NFTs without the need for an intermediary.

The platform supports multiple cryptocurrencies including Bitcoin, Ethereum and XRP. It also offers fiat currency gateways for INR, USD and EUR.

WazirX aims to provide a safe ecosystem for crypto enthusiasts to trade their assets without worrying about fraud or security issues. 

WazirX NFT marketplace review: How does the WazirX NFT Marketplace work?

The WazirX NFT marketplace is a decentralized exchange platform that allows users to trade their NFTs without having to worry about any third-party interference. 

The WazirX NFT Marketplace uses a peer-to-peer system, meaning that you will be able to make transactions directly with other people and not through an intermediary. This ensures that your funds are always safe and secure.

Trading on the WazirX NFT marketplace is very easy and straightforward. All you need to do is select the token you wish to sell or buy from a list of available tokens and enter an amount in ETH or BTC (or any other supported cryptocurrency). 

You will then see how much ETH/BTC you need to pay for that particular token along with its price per unit in ETH/BTC.

You can then deposit the required amount at your preferred wallet address, confirm your transaction and wait for it to be completed by one of our smart contracts before getting paid out automatically into your wallet address.

When it comes to buying NFTs, you have a lot of options. However, when it comes to buying, trading and selling them on an exchange, WazirX is one of the best options.

The benefits of buying and minting your own NFTs on WazirX

WazirX is a NFT marketplace that allows you to buy and mint your own NFTs directly from your wallet.

The benefits of buying and minting your own NFTs on WazirX are:

You can buy and sell NFTs with no trading fees.

You can mint your own NFTs, which gives you the ability to create a unique token that represents a specific asset or concept in the real world. You can also issue an unlimited number of copies of your token for free, so long as you follow our guidelines for creating them. If you want us to add your token to our exchange, then we will charge a fee for listing it.

You can create an account with any ERC20 wallet (such as MetaMask or MyEtherWallet), so there’s no need to download any software or install anything on your computer. Just visit https://wazirx.com/wallet/, connect your wallet and start buying and selling.

It is not possible for everyone to mint their own non-fungible token (NFT). You will have to buy one from someone else who already owns it or from an ICO sale. 

If you want to buy an NFT from someone else, then all you need to do is go ahead and find someone who is willing to sell theirs at a reasonable price in the marketplace.

How to buy and sell your NFTs on WazirX

The best place for the Indians to trade NFTs is WazirX. This NFT marketplace is a one-stop shop for all your crypto needs. You can purchase, sell or trade your digital assets on this platform. But before you start trading, there are some things you need to know.

Step 1: Create an Account

Like most other cryptocurrency exchanges, WazirX also requires you to register an account before you can start trading. You can visit their website https://wazirx.com/ and follow the instructions that are provided by the site’s team members. If you already have an account on any other cryptocurrency exchange, then it will be easier for you to sign up with WazirX as well. 

You just need to provide a few details about yourself and verify your identity using documents such as PAN card or passport copies etc., which will be very easy for you if you already have done so in the past when signing up with other exchanges like Zebpay etc.

Step 2: Verify Your Identity

Once you have successfully created a new account on WazirX, it is important that you verify your identity before proceeding further.

Step 3: Deposit Tokens 

To buy or sell an NFT, you will first need to deposit tokens into your WazirX wallet. This can be done by following directions once you are on the deposit option.

Step 4: Trade

Once your deposit is successful, you can then use the “Buy & Sell” section of the site to complete the desired transaction.

How to mint your own NFTs on WazirX NFT marketplace

In this section we will be sharing a step by step tutorial on how to mint your own NFTs on WazirX NFT marketplace as it is similar to every other NFT marketplace. 

Step 1: Login to WazirX website using your email address and password.

Step 2: Click on the ‘Mint’ button in the top right corner of the screen.

Step 3: Enter the name of your token in the ‘Token Name’ field and click the ‘Next’ button.

Step 4: Enter the number of tokens you want to create in the ‘Total Supply’ field and click the ‘Next’ button.

Step 5: Enter your token symbol in the ‘Token Symbol’ field and click the ‘Next’ button.

WazirX NFT Marketplace Alternatives 

There are many NFT marketplace alternatives like Opensea and Kalamint.

Opensea 

OpenSea is a peer-to-peer marketplace for the NFTs. It has some of the best features in the world. It is a platform where you can buy and sell your digital assets or tokens. 

You can also buy, sell and rent digital goods with cryptocurrency on this exchange platform. The first thing that you will notice about this platform is that it is easy to use and has a very nice user interface.

But since it is on the ethereum network, it is a very expensive option with high gas fees.

Kalamint

Kalamint is a decentralized marketplace where users can buy and sell digital assets. The platform uses the Ethereum blockchain technology to provide a secure trading environment for its users. 

The platform allows you to trade different types of digital assets like NFTs, ERC-721 tokens, ERC-20 tokens and more. Kalamint also provides an exchange platform where you can convert your digital assets into fiat currency or vice versa.

You can find more buyers on this platform as it gets a good number of sales monthly. 

Conclusion 

The platform has built its reputation on providing a reliable and secure platform to trade cryptocurrencies and NFTs in India.

With its huge user base and growing popularity among Indians, WazirX can be considered as one of the best places to trade Non-Fungible Tokens (NFTs) in India right now.

 

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