WazirX has rolled out an update to its Android app today that brings 3 new features with it. Since all these features are related to the ease of use, collectively they’ll make using WazirX much easier for you. The features, announced by the company on its Twitter account, are as follows:
- A new P2P tab has been added to the home page of app alongside BTC, USDT & INR market tabs. You can use it to easily access company’s P2P platform where BTC and USDT are exchanged for INR.
- The app now shows INR equivalent values of BTC and USDT tokens. This will save you a lot of time that would otherwise have been spent in calculating the INR values of your trades.
- And finally, the app is now available in Hindi. You can change your language from the Settings menu of app.
All these features, especially display of INR equivalent values for BTC and USDT, will further ease the process of trading. After RBI’s banking blockade came into force and exchanges tried to bypass it with help of crypto-to-crypto trading and peer-to-peer trading, the only difficulty remaining in front of users was that of converting BTC and USDT values to INR several times throughout the trading session. Otherwise the workaround found by exchanges is pretty smooth and reliable – it doesn’t require any help from banks to operate, and it also doesn’t change the dynamics of cryptocurrency trading drastically. You just need to convert your cryptos to fiat currencies and fiat currencies to cryptos on the times of deposits and withdrawals. Besides that everything remains the same. Now when WazirX has started showing realtime updated INR equivalent values of BTC and USDT inside the app, this small issue of continuous calculations has also been solved.
TUSD added a few days back
WazirX recently also added another stablecoin TrueUSD (TUSD) to its platform. TUSD is basically the same as USDT (Tether) – its value is $1 per token – except for the fact that it has little-to-no controversies associated with its name, unlike Tether which has always been embroiled in controversies and skepticism regarding its US dollar reserves.
The introduction of TUSD is therefore a safety measure taken by the company before something can go wrong. It has reduced the reliance of exchange on one particular stablecoin. Just in case if skeptics turn out to be true and Tether’s value nosedives someday, WazirX users will quickly be able to withdraw their funds using TUSD. In short, the exchange has prepared itself very well for all future circumstances that can cause trouble for its business.