WazirX down: How to transfer money from WazirX wallet to your bank account?

Cryptocurrencies are once again on a steep rise with Dogecoin on the forefront. You can click here to know more about Dogecoin. More and more Indians are also getting a lot more interested in cryptocurrencies and are investing in virtual currencies. The purchase and sale of cryptocurrencies can either be done in-person peer to peer or via trading platforms.

WazirX is one such trading platform where you can purchase and sell various cryptocurrencies including Bitcoin, Ethereum, Dogecoin and more. The platform amidst the Dogecoin rally has faced a server breach, which has compromised the security of its users. Here we will take a look at what happened and how you can transfer your money safely back from WazirX to your bank account.

What is WazirX?

WazirX is a cryptocurrency exchange and wallet, from where you can purchase different cryptocurrencies and sell them whenever you want. The platform also acts as a wallet and allows you to store your crypto safely on its servers.

Why is WazirX down?

WazirX is reportedly facing an outage, which is believed to have been caused by the massive surge in Dogecoin price and users flooding the service for trading queries. Over and above the company’s servers have also reportedly suffered an attack, which earlier caused a halt in its services. Both of these reasons have pointed multiple users to try and look out for ways to transfer their money to their bank accounts.

How to transfer money from WazirX to your bank account?

  • First, you will need to sell all the required cryptocurrencies that you own.
  • After all the cryptocurrencies have been sold, the money will show up in your balance.
  • Head over to your WazirX digital wallet and tap Withdraw.
  • Enter the amount, add a remark and then press proceed.
  • The platform will then require you to confirm your bank details and tap confirm.
  • After confirmation, you will need to enter an OTP sent to your registered mobile number.
  • Now the money will be transferred to your bank account within 3-5 working days.