WazirX vs Binance.

Facts side by side for Indian users. Not a rating or a recommendation. Last checked November 2026.

Registered with FIU-INDYesYes

Crypto withdrawalsNot verifiedRestarted after restructuring; check current limits.YesAllowed; paused temporarily during the October 2026 incident.

INR depositsBank transferMainly through P2P, which carries account-freeze risk

Proof of reservesNot verifiedNot verified

Incidents on record1 reported1 reported

Coins listed192Not tracked

WazirX: incidents and reports

Jul 2024. About $235M stolen in a hack attributed to North Korea. Users got ~85% back; ~15% is in recovery tokens.

Binance: incidents and reports

Oct 2026. About $6.3B stolen, the largest crypto hack on record; Binance said it would cover user losses.

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Questions

Is WazirX or Binance safer?

Neither is "safe" in absolute terms. Compare the facts above: FIU-IND registration, whether you can withdraw crypto to your own wallet, and past incidents. Whichever you use, keep only what you trade on the exchange and turn on two-factor authentication.

Do WazirX and Binance deduct 1% TDS?

Exchanges registered with FIU-IND and serving Indian users are expected to deduct 1% TDS on crypto sales. Check your AIS on the income tax portal to confirm what was deducted under your PAN, and claim it in your ITR.

Can I use both WazirX and Binance?

Yes. Many people use more than one exchange. For tax, report trades from every exchange in Schedule VDA and match the TDS in your AIS.

Educational only, not a recommendation. Facts come from the exchanges and reliable reporting; check the app before you act. Read how to choose an exchange.