Cryptocurrency has become increasingly popular among investors due to its volatility and opportunities. But recently, the crypto exchange WazirX charged some of its customers higher gas fees resulting in more cost for withdrawal than the amount being withdrawn.
The complaints against WazirX came to light on social media, with investors expressing their complains about the platform’s higher fees. Customers of the exchange have complained on Twitter, tagging the exchange and asking for explanation. However, WazirX has not yet responded about the situation.
The higher gas fees resulted in an increase in the Ethereum network fees during the week. This has caused a situation of unrefined withdrawals because of the high fees, which was previously offering cheap withdrawals while trading on WazirX.
The WazirX exchange fees are based on the Crypto Exchange Fees Table published on their platform. While the fees of 30.43 USDT as a withdrawal fee for the minimum withdrawal amount of 60.80 USDT is equal to the actual withdrawal fund, customers on the platform are forced to bear the higher fees causing them to lose out on money.
Cryptocurrency investors must take measures to avoid such situations. They must assess the exchange platform before investing in any crypto exchange. Read about reviews and the about the exchange before making any form of monetary commitment. Also, track the network fees of the platform in terms of transaction and withdrawal fees They must also search for information regarding their investment strategies and strategies related to the handling of their funds.
In conclusion, WazirX, India’s most trusted Bitcoin and cryptocurrency exchange has been recently accused of charging its customers higher gas fees resulting in more cost for withdrawal than the amount being withdrawn. Customers of the platform have taken to Twitter to make complaints about the situation but the exchange has yet to respond. Crypto investors need to take extra care when investing in such exchanges to avoid similar situations and must take measures to learn about their investment strategies and strategies related to the handling of their funds.
Lucy Clark
- 2023-04-19
How WazirX Exchange Charged its Customers Higher Gas Fees
WazirX, India’s most trusted Bitcoin and cryptocurrency exchange has been recently accused of charging its customers higher gas fees resulting in more cost for withdrawal than the amount being withdrawn.
