WazirX Makes a Comeback: INR and Crypto Deposits Reopen as Traders React Cautiously

 

WazirX Reopens INR and Crypto Deposits as Trading Relaunch Nears — Indian Investors React Cautiously

Indian cryptocurrency exchange WazirX has officially reopened deposits for both Indian Rupees (INR) and digital assets, signaling a critical step toward the platform’s full trading relaunch. The move has stirred a mixture of optimism and skepticism across India’s crypto community, as users weigh renewed participation against lingering trust issues from past controversies.

The relaunch, which comes after months of operational uncertainty, marks WazirX’s attempt to reestablish its position as one of India’s top exchanges. The company confirmed that deposits are now live, allowing users to fund accounts either in fiat currency or through cryptocurrency transfers.

Source: Ofiicial X

Deposits Live Again: A Key Step Forward

WazirX’s announcement on its official platform and social media channels stated that both INR and crypto deposits are now active, ensuring users can once again move funds into their accounts securely. The company emphasized that all deposits are fully protected and part of the ongoing preparations for a complete return to trading.

According to the statement, the deposit process has been redesigned to provide users with a smoother and more transparent experience. The revamped interface displays accurate token balances and reflects a user’s real-time holdings more clearly than before.

However, despite these improvements, the market’s reaction has been divided. Many users have expressed excitement about the platform’s return, while others remain cautious, citing unresolved concerns over the exchange’s transparency and its past issues with fund accessibility.

Community Divided on WazirX’s Return

On social media platform X (formerly Twitter), discussions about WazirX’s relaunch quickly trended among Indian crypto traders. Some users welcomed the news, describing it as a “new chapter” for India’s digital asset ecosystem. Others questioned whether the exchange’s management had done enough to rebuild trust.

One user commented, “WazirX reopening deposits is a positive sign, but we’ve seen issues before. I’ll wait until trading resumes before moving any large funds.”

Source: X

Others echoed similar caution, pointing out that WazirX still needs to clarify how it intends to manage withdrawals, market liquidity, and compliance with Indian financial regulations.

Still, WazirX officials have encouraged users to begin funding their accounts, claiming that the deposit relaunch is a vital milestone on the path to full recovery.

Revamped NLPA Page Aims to Increase Transparency

As part of the platform’s latest update, WazirX has introduced a significant overhaul to its Funds Page, aligning it with the Rebalanced NLPA (Net Liquidation Position Adjusted) system. This integration is designed to ensure users’ balances remain consistent across the platform and reflect real-time valuations of both INR and crypto assets.

The company said that this change was introduced to minimize discrepancies, reduce confusion, and enhance user confidence in their account data accuracy. By aligning the Funds and NLPA pages, the exchange aims to show a single, reliable source of truth for each user’s holdings — a step meant to address transparency issues raised in the past.

Industry analysts believe that this technical update could play an important role in WazirX’s efforts to regain credibility. Accurate, real-time data on balances is a key factor in restoring investor trust, especially in a market still recovering from regulatory uncertainty and liquidity challenges.

Public Criticism and Regulatory Concerns

Not everyone in the crypto space is celebrating WazirX’s latest move. Prominent Indian crypto commentator Ajay Kashyap voiced criticism on X, alleging that the exchange continues to exploit loopholes in India’s regulatory framework.

In his post, Kashyap argued that WazirX “still holds user funds without full disclosure” and questioned the timing of asking users to re-deposit funds before trading had fully resumed. He suggested that more robust oversight by regulators could prevent such concerns from recurring.

His remarks reflect a broader unease within India’s digital asset sector, where regulatory clarity remains elusive. Following last year’s restrictions and tax measures imposed on crypto trading, several exchanges have struggled to maintain liquidity and user confidence.

For WazirX, the challenge is not just about technical readiness, but about public perception. “They’re trying to rebuild from the ground up,” said a Mumbai-based blockchain consultant. “But unless they demonstrate consistent transparency, the market will remain hesitant.”

Market Reaction: Cautious Optimism

Since the reopening announcement, WazirX has witnessed a gradual increase in user engagement, though trading volumes remain muted compared to the exchange’s peak periods in 2021 and 2022. Market analysts describe the community sentiment as “cautiously optimistic.”

Some users have already resumed deposits in anticipation of a full relaunch, while others prefer to wait until the exchange reactivates withdrawals and trading pairs.

On Telegram and Reddit, several users expressed concerns that the reopening might precede full compliance readiness. “They’re asking people to deposit again, but we still don’t know if trading or withdrawals will be 100% functional,” one post read.

Others were more hopeful. “This could mark the return of Indian crypto activity,” another trader wrote. “If WazirX gets this right, it might reignite interest among local investors who moved to global exchanges.”

Trust Issues Still Linger

WazirX’s reputation took a major hit following disputes with Binance over ownership and management responsibilities in 2022, leading to confusion about who actually controlled user funds. The incident, combined with subsequent regulatory investigations in India, led many users to withdraw assets or move to international platforms.

Since then, the company has been working to restore its image through user education, customer support improvements, and public assurances of solvency.

While the new deposit system and technical updates are positive signals, experts note that regaining public trust will take time. “In the crypto world, credibility is earned over months, not in a single announcement,” said financial analyst Rohit Sinha. “WazirX must demonstrate operational integrity consistently before people feel safe keeping their money there again.”

Road to Full Trading Resumption

The exchange has not yet provided an official date for when full trading will resume, but insiders suggest that WazirX is preparing for a phased relaunch. This would include activating spot markets first, followed by peer-to-peer (P2P) trading and possibly staking or lending services later in the year.

Before that happens, however, WazirX must ensure compliance with India’s financial monitoring framework. With increased scrutiny from the Enforcement Directorate (ED) and the Financial Intelligence Unit (FIU), exchanges are now required to maintain stricter Know Your Customer (KYC) and Anti-Money Laundering (AML) standards.

WazirX’s ability to satisfy these regulatory conditions will play a decisive role in determining whether it can sustain operations long-term.

What’s Next for Indian Crypto Traders?

India’s crypto industry has been through a turbulent few years — from tax regulations and bank restrictions to exchange shutdowns and user migration to offshore platforms. Against this backdrop, WazirX’s return could reignite local market activity, especially if it can demonstrate renewed compliance and transparency.

However, analysts warn that the exchange faces an uphill battle. “Reopening deposits is only the first step,” said blockchain researcher Anita Verma. “The real test will be how WazirX manages withdrawals, trading execution, and customer service once full operations resume.”

Still, optimism remains among long-term crypto believers in India, who see this as a potential turning point for domestic digital asset trading.

Conclusion

The reopening of INR and crypto deposits on WazirX marks a significant development for India’s crypto ecosystem. It signals renewed momentum toward a functioning, locally operated trading environment. Yet, the exchange’s long-term success depends on its ability to rebuild trust, deliver transparency, and meet evolving regulatory expectations.

For now, WazirX’s move represents both a new opportunity — and a major test — for India’s resurgent crypto market.

Writer @Ellena

Erlin is an experienced crypto writer who loves to explore the intersection of blockchain technology and financial markets. She regularly provides insights into the latest trends and innovations in the digital currency space.

 

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