WazirX vs Bybit.

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

WazirX Bybit

Registered with FIU-INDYesYes

Crypto withdrawalsNot verifiedRestarted after restructuring; check current limits.YesAllowed on the global platform.

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

Proof of reservesNot verifiedNot verified

Incidents on record1 reported2 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.

Bybit: incidents and reports

Jan 2025. Fined ₹9.27 crore by FIU-IND for serving Indians without registering; registered and restored services in 2025.
Feb 2025. About $1.5B in ether stolen in a hack attributed to North Korea; Bybit said client assets were backed 1:1.

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Questions

Is WazirX or Bybit 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 Bybit 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 Bybit?

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.