#### What is WazirX? WazirX (WRX) is a [cryptocurrency](https://www.coinbase.com/learn/crypto-basics/what-is-cryptocurrency) that was launched in 2018 and has since grown to become a key player in the digital currency space. It is a utility token that forms the backbone of the WazirX ecosystem, with a total supply of 1 billion [tokens](https://www.coinbase.com/learn/crypto-basics/what-is-a-token). The WRX token is based on the Binance [blockchain](https://www.coinbase.com/learn/crypto-basics/what-is-a-blockchain) and aims to make cryptocurrency accessible to everyone, particularly in India. The token holders are rewarded with various benefits on the trading exchange, such as trading fee discounts, WRX trade [mining](https://www.coinbase.com/learn/crypto-basics/what-is-mining), token [airdrop](https://help.coinbase.com/en/coinbase/getting-started/crypto-education/glossary/airdrop-), and margin fee. The goal of WazirX is to bridge the gap between fiat and cryptocurrency, making it easier for people around the globe to participate in the cryptocurrency revolution. #### How does WazirX work? WazirX operates through a unique auto-matching [peer-to-peer](https://help.coinbase.com/en/coinbase/getting-started/crypto-education/glossary/peer-to-peer) (P2P) engine, which simplifies the process of depositing and withdrawing fiat currency. When a buyer places a [USDT](https://help.coinbase.com/en/coinbase/getting-started/crypto-education/USDT) buy order, they are instantly auto-matched with a seller. Both parties confirm the sending and receiving of payment, and WazirX transfers the escrowed USDT to the buyer's [wallet](https://www.coinbase.com/learn/crypto-basics/what-is-a-crypto-wallet). This system has been designed to ensure that matching and order-completion happen in record time, making it a hassle-free and user-friendly platform. WazirX also offers a Smart Token Fund (STF) feature, which allows cryptocurrency enthusiasts to find expert traders and let them manage their cryptocurrency portfolio. #### What are the potential use cases for WazirX? WazirX aims to solve the fiat-cryptocurrency conversion problem globally, making it easier for people to participate in the cryptocurrency revolution. It seeks to provide a simple fiat on-ramp solution for developing and underdeveloped countries facing regulatory uncertainties and banking delays. WazirX also plans to partner with various cryptocurrency wallets, exchanges, and [DeFi](https://www.coinbase.com/learn/crypto-basics/what-is-defi) apps that lack a fiat on-ramp, providing a seamless on-ramp to these platforms. Additionally, WRX token holders are rewarded with various benefits on the trading exchange, such as trading fee discounts, WRX trade mining, token airdrop, and margin fee, making it a valuable asset for traders and investors. #### What is the history of WazirX? WazirX was launched in 2018 and has since grown to become a key player in the cryptocurrency space. It was acquired by Binance in November 2019, but continues to operate as an independent brand. The founders of WazirX are seasoned entrepreneurs with over 15 years of experience in building and scaling global products. The team behind WazirX is committed to making cryptocurrency accessible to everyone and has already made significant strides in this direction, particularly in India. The platform has over 400,000 users and an average app rating of 4.6, demonstrating its popularity and user-friendly design.