Comparison of Wazirx vs 50X [ 2024 ]

The crypto exchanges compared by their commissions, cryptos, security and much more. Here is the Wazirx vs 50X comparison!

Your expert: Alejandro Borja

wazirx

Wazirx

Investing risks losing your money

Your expert: Xavier Tarrasó

50x

50X

Investing risks losing your money

Main points

Fees

0,20%

Earns

No

Customer service

4/5
0.20%

Fees

Yes

Earns

3/5

Customer service


Recommended for

Beginners

Yes

Trading

Yes

Passive income

No

Buy and hold

Yes
No

Beginners

Yes

Trading

Yes

Passive income

No

Buy and hold


Comparison of fees

Rating

4.0 – Competitive fees with additional rewards for using the native token.
3.8 – Competitive fees but slightly higher than industry leaders.

Level

0,20%
0.20%

Brief explanation

WazirX structures its commissions to be competitive within the cryptocurrency exchange market, particularly appealing to Indian traders. The platform charges a flat fee of 0.2% per transaction, which applies to both makers and takers. This straightforward, no-tier fee structure makes it easy for users to understand exactly what they will pay per trade, without any hidden complexities. Additionally, deposit fees are free for cryptocurrencies, but there may be small charges for fiat transactions depending on the method used, and withdrawal fees vary by cryptocurrency, reflecting network fees rather than platform charges.
50x employs a relatively straightforward commission structure designed to accommodate both casual and serious traders. The exchange charges a standard trading fee that is competitive with industry norms, yet it varies slightly depending on the trading pair and the volume. Importantly, 50x utilizes a tiered fee system; thus, higher trading volumes benefit from lower fees. This approach encourages active trading and can be particularly advantageous for traders planning to execute large volumes of transactions.

Wazirx

50X

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Product selection

Native token

Token WRX
No

Earns

No
Yes

NFT marketplace

Yes
No

Cripto/debit card

Yes
No

Company information

Full name

Zanmai Labs Private Limited
AXX Exchange

Regulation

Not regulated
Not regulated

Year founded

2018
2018

Founder

Nischal Shetty
Alexander Udovichenko

Payment methods

Transfers

Yes
No

Mastercard

Yes
Yes

Wire transfer

Yes
Yes

Card

Yes
Yes

Comparative table

Wazirx FEATURES 50X
WazirX allows users to begin trading with relatively small amounts, making it an accessible option for beginners and those looking to test the waters without significant initial investments.
Minimum Trade
Allows small minimum trades, suitable for beginners testing strategies.
WazirX charges a flat fee of 0.2% on all trades, which is competitive; however, a lack of fee tiering can deter high-volume traders who typically benefit from reduced rates in other exchanges.
Trading and Transaction Fees
Competitive fees, but could be better explained on the website.
The platform supports a broad array of cryptocurrencies, providing users with ample opportunities to diversify their portfolios with both popular and less mainstream tokens.
Number of Cryptocurrencies
Offers a wide variety, though not the largest selection available.
Offers a substantial number of trading pairs, which is beneficial for traders looking to capitalize on market movements across various cryptocurrencies.
Crypto-to-Crypto Trading Pairs
Extensive pairs due to Any2Any technology, facilitating unique pairings.
Generally, WazirX maintains a transparent approach with visible fee structures and trading terms; however, improvements could be made in the visibility of wallet safety and fund security protocols.
Website Transparency
Needs more clarity on fees and liquidity sources.
WazirX lacks an exchange card, limiting flexibility in utilizing crypto assets for everyday transactions and benefits.
Credit/Debit Card
Lacks an exchange card, missing out on potential benefits and convenience for users.
Provides robust storage options with an emphasis on security; includes both hot and cold wallet solutions to ensure the safety of user assets.
Storage Offering
Provides secure storage solutions, though details are scarce.
While WazirX offers staking options, the variety and rewards rates are less competitive when compared with larger platforms that specialize in staking and yield farming.
Staking and Rewards
Offers staking options, but fewer rewards compared to competitors.
Both the mobile app and desktop platform are well-designed, offering intuitive navigation and comprehensive functionality that meets the needs of most traders.
Mobile App and Desktop
Both platforms are robust but require a learning curve.
The platform’s customer service is an area needing improvement, with reported delays in response times and issues with the effectiveness of the solutions provided.
Customer Service
Generally responsive with multiple support channels, though not 24/7.
Deposits and withdrawals are processed efficiently, especially for INR transactions. However, the platform could expand its support for additional fiat currencies to enhance user convenience further.
Deposit and Withdraw
Supports multiple methods but feedback suggests delays during high traffic.

Key features

Analysis tools

Basic charting tools
Advanced charting tools, technical indicators

Mobile APP

Yes
No

Security

High 4,6/5
High 4/5

Additional features

Staking, WazirX token (WRX) rewards, WazirX Earn, fiat on/off ramps
Margin trading, futures contracts, staking rewards, advanced charting tools

Anonymity

No
No

Key points

Available cryptocurrencies

100+
100+

User-friendliness

WazirX provides a straightforward and easy-to-use platform that is ideal for beginners. The interface is clean and intuitive, making it easy to navigate and execute trades.
50x offers a user-friendly interface that is intuitive for both beginners and experienced traders. The platform’s design emphasizes simplicity without compromising on advanced features, making it easy to navigate and execute trades efficiently.

Value for money

Provides good value for money with competitive fees and a wide range of supported cryptocurrencies, making it an affordable choice for Indian users.
Provides good value for money with competitive trading fees and a wide range of supported cryptocurrencies, making it a cost-effective choice for traders.

Countries of operation

India, United States, Canada, United Kingdom, Australia
United States, Canada, United Kingdom, Australia, Singapore

Best for

Ideal for Indian investors seeking a user-friendly platform with competitive fees and a wide range of supported cryptocurrencies.
Ideal for experienced traders looking for competitive fees and a wide range of supported cryptocurrencies, as well as those interested in margin trading.

Base currencies available

INR, USDT
USD, BTC

Account

Trading

WazirX is one of the largest exchanges in India, offering a wide range of cryptocurrencies and easy fiat integration. It has competitive fees and a user-friendly platform but has faced regulatory challenges.
50x offers a robust trading platform with a wide range of cryptocurrency pairs. The interface is user-friendly, making it suitable for both beginners and experienced traders. Security features are strong, but liquidity might be lower compared to larger exchanges.

Deposit and withdrawal

WazirX is one of the largest exchanges in India, offering a wide range of deposit methods. Withdrawals are processed quickly, with competitive fees.
50x offers multiple deposit and withdrawal methods, including bank transfers and cryptocurrencies. Processing times are generally quick, but bank transfers can take several days. Fees are minimal.

Account opening process

WazirX offers a straightforward and user-friendly account opening process. Users need to provide personal information and verify their identity. The process is efficient and typically takes less than a day to complete.
Opening an account with 50x is straightforward and fully digital. The process involves filling out basic personal information, verifying your identity, and typically takes less than a day to complete. No significant barriers to entry are noted.

KYC required?

Yes
No

Customer Service

WazirX offers extensive customer support via email, live chat, and phone. The support team is responsive and available 24/7, making it reliable for users in India.
50x provides customer support through email and live chat. Responses are generally quick and helpful, but phone support is not available, which may limit immediate assistance for urgent issues.

Security

WazirX offers comprehensive security measures, including 2FA and cold storage. It is regulated by Indian authorities, ensuring high security for investors.
50x prioritizes security with two-factor authentication (2FA) and encryption. The platform has a good track record but lacks regulation by top-tier authorities, which may be a concern for some investors.

Which of these exchanges is for you?

As one of the experts reviewing WazirX, I recommend this platform for Indian users looking for a straightforward entry into the world of cryptocurrencies. Its integration with Binance enhances liquidity and provides a robust range of trading options, which is beneficial for both novice and experienced traders. However, be mindful of occasional technical issues and prepare for potential delays in customer service response times. Overall, WazirX stands as a solid choice, especially if you value an easy-to-navigate interface and a wide selection of crypto assets.
As an expert reviewing 50x, I find its innovative Any2Any trading technology particularly compelling for those interested in exploring a wide range of crypto pairings. This feature alone sets it apart in a crowded market. However, newcomers should be prepared for a learning curve due to the platform’s complex interface. I recommend 50x for traders who have some experience and are looking for new trading opportunities in a secure and technically advanced environment.

How do we review crypto exchanges?

At Threenvest, we conduct a thorough review process to evaluate and rank the world’s leading crypto exchanges. Our goal is to offer an unbiased assessment, providing you with the information you need to make informed decisions on which ones best suit your needs. We strictly adhere to the guidelines of our editorial policy.

 

We collect data directly from exchanges through detailed questionnaires and conduct first-hand testing and observations during crypto exchange demonstrations. Questionnaire responses, combined with demonstrations and hands-on research from our experts, feed into our proprietary evaluation process that scores each provider’s performance on more than 15 factors. The end result produces star ratings ranging from poor (one star) to excellent (five stars).


For more details on the categories considered when rating brokers and our process, read our full methodology.

Risk Disclaimer

Investing in cryptocurrencies is very risky, you should only invest the money you are willing to lose. Also you should not expect to be protected if something goes wrong.

Neither Threenvest, nor the author, are recommending you to invest with this article.

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