What is WazirX and founder Nishchal Shetty

Wazir X is India’s largest exchange started by Nishchal Shetty in 2018. Currently, Wazir X is operated from the Dubai office by Mr Shetty. It is the most trusted crypto exchange in the Indian crypto market. 

What is WazirX and founder Nishchal Shetty

Wazirx was founded by software engineer Nishcal Shetty in 2018. He was born in 1986 in Mumbai, Maharashtra. In 2019 WairX was acquired by Binance, and in August 2022 news came that Binance acquired Wazirx only for purchases.

Wazirax is a decentralised platform and part of the Binance group. Binance is the world’s biggest crypto exchange platform serving users in 180 countries.  

With the vision of making Crypto accessible to India Wazir X and Binance announced a $50 million blockchain India fund.

WazirX has 6 million registered users and the growth has just started, it is expected to go much higher. Wazir X founder Nishchal Shetty, the pioneer of the #IndiaWantsCrypto movement has more than 5 million followers in social media.

India wants Crypto movement

In the year 2018, India wants the crypto movement run by Wazir x owner Nischal Shetty. In 2018 the Central Bank of India (RBI) released a circular against currency that prevented banks from dealing with crypto startups. After this circular many exchanges went shut down and some went outside India. 

However, it also impacted Wazir X but the founder of Wazir X Nishchal Shetty moved one step ahead and started a movement on Twitter. Nischal tweeted #IndiaWantsCrypto with facts about crypto to regulators and politicians. 

The campaign reached more than 10 million people and united the entire crypto industry. Mr Shetty’s campaign was covered by various newspapers and TV shows and also reached politicians and lawmakers. The campaign ran for more than a year and saw ups and downs but Nischal continued with the campaign. 

Wazir X P2P working modal

The court battle was fought by IAMAI represented by lawyer Ashish Sood. The court battle affected the sentiments negatively resulting in hampered trade. Nishchal Shetty and his team had different plans and at this crucial moment, Wazirx pioneered the world’s first P2P trading movement. This became a master stroke and crypto engines started again in India. Now users can trade safely without disturbing the law and being within the bounds of the law. 

It was 489 days of the campaign when the Supreme Court of India ruled in favour of the Crypto community. According to the Supreme Court order, the RBI cannot withhold banking support anymore. After this news trade sentiments turned positive and Indian crypto industries saw a huge rise in new users registration. 

WaxirX campaign mobile Association of India 

For the positive regulations, Wazirx is working with the Internet and Mobile Association of India (IAMMI). The campaign has reached over 850 days.

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Cryptocurrency bill in India

Indian Parliament presented a bill on crypto named “The Cryptocurrency and Regulation of Official Digital Currency Bill” on Feb 1, 2021. Later, Indian Finance Minister Nirmala  Sitaraman said the government is still exercising its opinion on cryptocurrency and will take a calibrated position.

FAQ

Who is the founder of the WazirX cryptocurrency exchange?

Nishchal Shetty.

Who is Nishchal Shetty?

Nishtha Shetty is the founder and CEO of WazirX Exchange. He is a software engineer and businessman.

When Wazir X was founded?

WazirX was founded by software engineer Nischal Shetty in the year 2018. In 2019 Wazir X was acquired by Binance but the acquisition was only for purchases.

Is wazirx owned by Binance?

In August 2022, Binance updated a statement that the 2019 acquisition was only an agreement for purchases.

Nischal Shetty belongs to which state?

He belongs to Mumbai located in Maharashtra state of India.

When was Nischal Shetty born?

He was born in 1986 in Mumbai city of Maharashtra.

Who started the crowd fire?

Nischal Shetty started crowd-fire in 2010.

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