WazirX launched a UPI payment option for consumers to deposit money, but several users have reported issues with ‘Alias’ (another name). When you try to add a payment method to your WazirX wallet, it asks for your alias. Before moving on to know about ‘alias’ let’s take a look at WazirX and what is it for?
WazirX is one of India’s most popular cryptocurrency and NFTs exchanges. Recently, regulation in crypto-related investment has facilitated investors. It enables to use of fiat to crypto exchange to buy bitcoin and other altcoins using Indian rupees(INR). Nowadays investing in crypto exchanges are mostly prevalent in youngsters.
How does WazirX work?
WazirX P2P makes it simple to buy and sell USDT for Fiat with a variety of buyers and sellers. On top of it, It’s completely safe. Wazirx accepts a variety of deposit methods, including wallet transfers (Mobikwik), net banking (only supported banks), and peer-to-peer (P2P).
WazirX P2P allows you to do two fundamental things mentioned below:
- If you need to trade cryptos for fiat, buy USDT using P2P and then use that USDT to buy additional cryptos on WazirX.
- If you need to transfer money from one account to another, sell your cryptos for USDT and then sell that USDT for Fiat using P2P.
What exactly is ‘Alias’ in Wazirx?
When you try to add a payment method to the wallet it asks for your alias in Wazirx. An alias commonly refers to the alternate name. To add a payment method, simply enter your name in Alias and then your UPI Id. The UPI method for adding funds will be activated automatically after successful verification.
The issue of ‘Alias’ has plagued many new users who have yet to register their UPI. The problem is easy and has a simple solution. When users first start registering their UPI on the WazirX app, they must fill out two parts. The ‘Alias’ area is one, while the ‘UPI ID’ section is the other.
Users only need to enter their names in the Alias area. They can then complete the UPI ID form and register it with their WazirX account. It can then go into the verification process. Verification usually takes 3-5 days. Users can rapidly transfer funds to WazirX through the UPI protocol once their UPI ID has been registered.
Step-by-step process to deposit money (including issue of ‘alias’ in Wazirx)
- Go to the funds section of the WazirX app.
- At the top of the funds screen, select the INR option.
- You will notice the ability to withdraw and deposit funds in the INR wallet.
- Select the deposit option from the drop-down menu.
- A new page will appear, with two options for users to choose from: UPI and P2P. Select UPI.
- Create a WazirX UPI account and add your name to the ‘Alias’ box.
- Using the OTP that will be sent to your phone number, confirm your UPI with WazirX.
- You can now deposit money to WazirX using UPI at any time.
Furthermore, cryptocurrency markets are extremely volatile, and investing in them is dangerous. Before investing in cryptocurrencies, readers should conduct their own research and consult with their financial advisor.