Topic: Binance acquires Wazirx to offer Fiat to Crypto Gateway - page 2. (Read 486 times)
Probably the biggest news this year in Indian crypto scene.
Binance exchange entering the Indian market right after it's Shangai office getting shut down. How weird is that ?
Now that's a big coincidence or may be a planned strategy. Something does smell fishy here though.
I think it would be better off if we keep using WazirX as we were and stay away from Binance - WazirX gateway.
WazirX website already renamed as WazriX Binance so we can use them as of it now or just stick with the P2P model of Localbitcoin.Now that's a big coincidence or may be a planned strategy. Something does smell fishy here though.
I think it would be better off if we keep using WazirX as we were and stay away from Binance - WazirX gateway.
Localethereum also going to be a big game changer since they have no KYC.
Binance exchange entering the Indian market right after it's Shangai office getting shut down. How weird is that ?
Now that's a big coincidence or may be a planned strategy. Something does smell fishy here though.
I think it would be better off if we keep using WazirX as we were and stay away from Binance - WazirX gateway.
Now that's a big coincidence or may be a planned strategy. Something does smell fishy here though.
I think it would be better off if we keep using WazirX as we were and stay away from Binance - WazirX gateway.
So, now, effectively we have two Binance partners in India...
1. BitBNS
2. WazirX
On a different note, there is something in this Binance+WazirX story, that makes me sad. Both Binance and WazirX faced similar obstacle in their own country. Binance moved out of China and became world leader, while WazirX got sold to Binance. Same fate, different result. Though, I know, it is easy to judge from a distance. Those, who are doing it, knows how difficult which game really is.
1. BitBNS
2. WazirX
On a different note, there is something in this Binance+WazirX story, that makes me sad. Both Binance and WazirX faced similar obstacle in their own country. Binance moved out of China and became world leader, while WazirX got sold to Binance. Same fate, different result. Though, I know, it is easy to judge from a distance. Those, who are doing it, knows how difficult which game really is.
Edit: My first post as a Full Member. Thanks everyone
I just came to know about it from another crypto blog and literally I am surprised! Indians can now withdraw from Binance to their bank account and Wazirx will facilitate the transfer! While it's a good development for India's crypto scene, but I am still skeptical about using a known crypto exchange for transferring money to my bank account. This way my account will be tagged as a crypto user and looking at the situation, I don't think it is safe yet!
Anyone planning to use it?
Anyone planning to use it?
It will still work on P2P model. I don't see how things will turn different or unsafe.
I reread the blog post once again, actually the details given in the Binance blog is bit vague.
-snip-
I still don't see something big apart from the fact that we can save some transaction fees for moving crypto between exchanges. There is nothing new here other than a big exchange entering Indian market. I don't see an impact like what Amazon did for India. Yeah I do agree that Binance is very influential, may be that's good, only time will tell.Edit: My first post as a Full Member. Thanks everyone
What are your thoughts?
I see nothing big here apart from the fact that Binance suddenly jumped into Indian Market. I think most Indian exchanges will suffer because of this entry.
Woah..Seriously Akh?? Nothing big..This is pretty huge. Binance is influential and very pro-active in terms of breaking into new areas as well as doing all sort of "jugaad" to keep crypto economy going (IEO's, Binance Launchpad etc etc.)I see nothing big here apart from the fact that Binance suddenly jumped into Indian Market. I think most Indian exchanges will suffer because of this entry.
First of all, i think it is a validation for WazirX and their CEO Nischal who have been very active on twitter trying to gather enough support from public and politicians. Good for him. Secondly, having a bridge to INR on Binance app should be cool. I don't now how it'll work as i haven't checked it on the app yet. You should also see that Binance is into altcoins in a big way. Most Indians have also had their first taste of crypto through these alts. This means a lot of those Alt-coin hodlers will have easier access to INR through the app.
It lowers a lot of entry barriers. This is good. Thanks for sharing!
I just came to know about it from another crypto blog and literally I am surprised! Indians can now withdraw from Binance to their bank account and Wazirx will facilitate the transfer! While it's a good development for India's crypto scene, but I am still skeptical about using a known crypto exchange for transferring money to my bank account. This way my account will be tagged as a crypto user and looking at the situation, I don't think it is safe yet!
Anyone planning to use it?
Anyone planning to use it?
It will still work on P2P model. I don't see how things will turn different or unsafe.
I just came to know about it from another crypto blog and literally I am surprised! Indians can now withdraw from Binance to their bank account and Wazirx will facilitate the transfer! While it's a good development for India's crypto scene, but I am still skeptical about using a known crypto exchange for transferring money to my bank account. This way my account will be tagged as a crypto user and looking at the situation, I don't think it is safe yet!
Anyone planning to use it?
Anyone planning to use it?
Starting Nov 25, Indians can buy and sell crypto from Binance with fiat (INR). As of now it's limited to purchasing Tether as in Indian exchanges.
Source: https://twitter.com/binance/status/1197356466463629312?s=19
What are your thoughts?
I see nothing big here apart from the fact that Binance suddenly jumped into Indian Market. I think most Indian exchanges will suffer because of this entry.
So we can send and receive money from the exchange itself right? Then we are in problem now because banks don't want any of their account holder to buy or sell crypto currencies since RBI insisted that. Quote
#Binance Acquires India’s Leading Digital Asset Platform @WazirXIndia to Launch Multiple Fiat-to-Crypto Gateways
https://www.binance.com/en/blog/404105749895733248/Binance-Acquires-Indias-Leading-Digital-Asset-Platform-WazirX-to-Launch-Multiple-FiattoCrypto-Gateways
https://www.binance.com/en/blog/404105749895733248/Binance-Acquires-Indias-Leading-Digital-Asset-Platform-WazirX-to-Launch-Multiple-FiattoCrypto-Gateways
Source: https://twitter.com/binance/status/1197356466463629312?s=19
What are your thoughts?
I see nothing big here apart from the fact that Binance suddenly jumped into Indian Market. I think most Indian exchanges will suffer because of this entry.
Starting Nov 25, Indians can buy and sell crypto from Binance with fiat (INR). As of now it's limited to purchasing Tether as in Indian exchanges.
Source: https://twitter.com/binance/status/1197356466463629312?s=19
What are your thoughts?
I see nothing big here apart from the fact that Binance suddenly jumped into Indian Market. I think most Indian exchanges will suffer because of this entry.
Quote
#Binance Acquires India’s Leading Digital Asset Platform @WazirXIndia to Launch Multiple Fiat-to-Crypto Gateways
https://www.binance.com/en/blog/404105749895733248/Binance-Acquires-Indias-Leading-Digital-Asset-Platform-WazirX-to-Launch-Multiple-FiattoCrypto-Gateways
https://www.binance.com/en/blog/404105749895733248/Binance-Acquires-Indias-Leading-Digital-Asset-Platform-WazirX-to-Launch-Multiple-FiattoCrypto-Gateways
Source: https://twitter.com/binance/status/1197356466463629312?s=19
What are your thoughts?
I see nothing big here apart from the fact that Binance suddenly jumped into Indian Market. I think most Indian exchanges will suffer because of this entry.
Jump to: