Cryptocurrencies are a great avenue for trading, and exchanges like WazirX make it possible to buy, sell and trade cryptos with ease for Indian users. However, those new to such platforms might find a couple of things somewhat confusing.
In this article, we’re looking at what is Alias in WazirX and any alias issues when registering your UPI ID with WazirX.
Also read: What is Memo in WazirX?
What is Alias in WazirX?
When adding a new UPI ID in WazirX, the platform asks for an alias for the ID and the actual UPI ID itself. Here, the alias is nothing more than just a name for the UPI ID you’re adding.
In addition to crypto being highly volatile, there is also a lot in the grey regarding investing and financial rules around cryptocurrency. Recently, WazirX and other exchanges operating in India like Zebpay and CoinDCX had started facing issues with banks as they had stopped offering services to crypto exchanges.
This meant that users couldn’t link their bank accounts or UPI IDs, for that matter, with their platforms. However, the Supreme Court stepped in, releasing a notification announcing that banks aren’t allowed to stop services to crypto exchanges based on an outdated RBI announcement which the Supreme Court had made redundant.
Since then, crypto exchanges have been functioning fine and adding more and more commonly used payment methods in India to their platforms in order not only to make the user experience smooth and transactions faster but also to attract new users.
So if you’re new to WazirX and are facing an alias issue when adding a new UPI ID, write any name you want to refer to that particular ID as and make sure it’s unique, that is, it doesn’t match any other UPI IDs that you may have added previously, and you should be able to add your UPI ID just fine.
Also read: How to delete WazirX account?
