Comparison of Wazirx vs Safetrade [ 2024 ]

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

Your expert: Alejandro Borja

Wazirx

Your expert: Xavier Tarrasó

Safetrade

Main points

Fees

0,20%

Earns

Customer service

4/5

≈ 0,10%

Fees

Yes

Earns

3/5

Customer service

Recommended for

Beginners

Yes

Trading

Yes

Passive income

Buy and hold

Yes

Beginners

Trading

Yes

Passive income

Buy and hold

Comparison of fees

Rating

4.0 – Competitive fees with additional rewards for using the native token.

3.9 – Competitive fees with additional benefits for high-volume trading.

Level

0,20%

≈ 0,10%

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.

SafeTrade implements a flat fee model for its trading activities, charging a uniform 0.1% fee for both makers and takers on all trades. This rate is appealingly lower than the industry average, which often hovers around 0.25%. This straightforward, low-cost fee structure makes SafeTrade an attractive option for traders looking to maximize their returns without the burden of high transaction costs. Additionally, it’s worth noting that there are no deposit fees on SafeTrade, which further reduces the cost for users to start trading. However, traders should be aware that while the trading fees are low, the lack of regulatory oversight might introduce risks that are typically mitigated on more stringently regulated platforms. Thus, while the fee structure is economically advantageous, it comes with considerations that should be carefully weighed.

Wazirx

Year founded: WazirX was established in 2017, quickly becoming a key player in the Indian cryptocurrency space, demonstrating robust growth and longevity in a highly volatile market.
Security methods: WazirX employs a comprehensive set of security measures, including two-factor authentication (2FA) and regular security audits, ensuring a secure trading environment for its users.
Volume managed and trading volume and liquidity: Since its acquisition by Binance, WazirX has seen substantial increases in its trading volumes, benefiting from Binance’s high liquidity pools which enhance trading efficiency and price stability on the platform.
Reputation and Reviews: The platform is well-regarded in the Indian cryptocurrency community, known for its user-friendly interface and reliability. Its strategic partnership with Binance further boosts its credibility among users.
Customer service: WazirX offers a dedicated support team and has a comprehensive FAQ and support section that addresses common issues and guides new users through the trading process, contributing to a supportive user experience.

Read wazirx review

Safetrade

Security Methods: SafeTrade emphasizes security with comprehensive measures to protect user data and funds. This focus on security helps in building trust with its users.
Transparency: The platform's operations are characterized by a high degree of transparency, especially concerning its integration with the SafeCoin projects and community feedback mechanisms. This openness is a critical trust factor.
Trading Volume and Liquidity: SafeTrade handles a significant amount of trading volume, ensuring liquidity for its users, which is essential for executing trades efficiently without substantial price slippage.
Customer Service: The exchange offers 24/7 customer support, which is a substantial trust factor for users, especially in a market that operates round the clock. Reliable support is crucial for resolving issues swiftly.
Reputation and Reviews: Since its launch, SafeTrade has maintained a positive reputation within the community, supported by favorable reviews from its users. This reputation is a testament to the platform's reliability and service quality.

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Product selection

Native token

Token WRX

Earns

Yes

NFT marketplace

Yes

Cripto/debit card

Yes

Full name

Zanmai Labs Private Limited

Unknown

Regulation

Not regulated

Year founded

2018

Founder

Nischal Shetty

Unknown

Payment methods

Transfers

Yes

Mastercard

Yes

Wire transfer

Yes

Card

Yes

Comparative table

Wazirx	FEATURES	Safetrade
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	SafeTrade allows trading in small quantities, but specifics about minimum trade sizes vary by cryptocurrency, which can be confusing for new users.
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	SafeTrade charges a flat fee of 0.1% for all trades, significantly lower than the industry average, making it very cost-effective.
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	Supports 48 cryptocurrencies, which is robust but still fewer than some of the larger exchanges that offer hundreds.
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	Offers a variety of trading pairs, predominantly crypto-to-crypto, which caters well to a diverse trading base but lacks fiat options.
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	The website provides essential information, yet could improve by offering more detailed insights about liquidity and security measures.
WazirX lacks an exchange card, limiting flexibility in utilizing crypto assets for everyday transactions and benefits.	Credit/Debit Card	Lack of a dedicated exchange card limits the practical usability of SafeTrade’s services for everyday transactions and rewards.
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	Offers secure storage solutions, but lacks some advanced features like insurance or diverse wallet options.
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	Limited information and options for staking and rewards compared to competitors who offer varied staking benefits and rewards.
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	Provides functional and user-friendly mobile and desktop interfaces, though there’s room for further enhancements in usability and features.
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	Offers 24/7 customer support with good service levels, but feedback suggests there could be improvements in response times and resolution efficiency.
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	Deposits and withdrawals are facilitated smoothly for cryptocurrencies, yet the absence of direct fiat transactions and limited information on fees for these processes affect the rating.

Key features

Analysis tools

Basic charting tools

Mobile APP

Yes

Security

High 4,6/5

Low 2/5

Additional features

Staking, WazirX token (WRX) rewards, WazirX Earn, fiat on/off ramps

Margin trading, staking, SafeTrade Earn, fiat on/off ramps

Anonymity

Yes

Key points

Available cryptocurrencies

100+

20+

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.

SafeTrade offers a user-friendly platform that is easy to navigate, making it suitable for beginners. The interface is designed to facilitate a smooth trading experience with all necessary features easily accessible.

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 decent value for money with competitive fees and a user-friendly interface, though it may lack some advanced features.

Countries of operation

India, United States, Canada, United Kingdom, Australia

United States, Canada, United Kingdom, Australia, Germany

Best for

Ideal for Indian investors seeking a user-friendly platform with competitive fees and a wide range of supported cryptocurrencies.

Ideal for traders seeking a user-friendly platform with competitive fees and a wide range of supported cryptocurrencies.

Base currencies available

INR, USDT

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.

SafeTrade offers a secure platform with a decent range of cryptocurrencies. It has competitive fees but lower liquidity 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.

SafeTrade supports various deposit and withdrawal methods, including bank transfers and crypto. Withdrawals are processed efficiently, with low fees.

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.

SafeTrade provides a straightforward 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.

KYC required?

Yes

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.

SafeTrade provides support through email and live chat. The support team is responsive and helpful, but the lack of 24/7 support may be a limitation for some users.

Security

WazirX offers comprehensive security measures, including 2FA and cold storage. It is regulated by Indian authorities, ensuring high security for investors.

SafeTrade employs robust security features, including 2FA and cold storage. However, it is not regulated by major financial authorities, which might be a concern for some investors.

Which of these exchanges is for you?

Alejandro Borja

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.

Xavier Tarrasó

As one of the experts reviewing exchanges on our website, I find SafeTrade to be a particularly interesting choice for those venturing into the cryptocurrency market. It stands out with its low trading fees of only 0.1% across all trades, which is significantly lower than many other platforms. This feature alone makes it an attractive option for both seasoned traders and newcomers who are sensitive to cost. Furthermore, SafeTrade’s community-driven approach adds a layer of transparency and support that is not often seen in the exchange space. This feature should particularly appeal to users who value a collaborative and open environment. However, it’s crucial to note that SafeTrade is not regulated by any top-tier financial authority, which might be a concern for those prioritizing security and compliance. Overall, if you’re looking for a cost-effective platform and are comfortable with the level of regulatory oversight, SafeTrade could be a solid choice.

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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.

Comparison of Wazirx vs Safetrade [ 2024 ]

Wazirx

Safetrade

Main points

Recommended for

Comparison of fees

Rating

Level

Brief explanation

Wazirx

Safetrade

Product selection

Native token

Earns

NFT marketplace

Cripto/debit card

Company information

Full name

Regulation

Year founded

Founder

Payment methods

Transfers

Mastercard

Wire transfer

Card

Comparative table

Minimum Trade

Trading and Transaction Fees

Number of Cryptocurrencies

Crypto-to-Crypto Trading Pairs

Website Transparency

Credit/Debit Card

Storage Offering

Staking and Rewards

Mobile App and Desktop

Customer Service

Deposit and Withdraw

Key features

Analysis tools

Mobile APP

Security

Additional features

Anonymity

Key points

Available cryptocurrencies

User-friendliness

Value for money

Countries of operation

Best for

Base currencies available

Account

Trading

Deposit and withdrawal

Account opening process

KYC required?

Customer Service

Security

Which of these exchanges is for you?

How do we review crypto exchanges?

Risk Disclaimer

More comparatives Wazirx and Safetrade