Highest Loss of the Day Award Winner $WRX
It decreased by 22.5%.
This decline is due to the announcement by the Binance platform that the currency will be removed from trading on December 15, which is tomorrow.
However, you will find many posts by traders encouraging them to buy the currency, believing that its value will rise a few hours before the deletion.
This seems illogical and personally I do not advise anyone to take the risk.
But let's take a closer look and find out what the currency is🧐
●What is the currency of #WRX?
It is a digital currency associated with the Indian cryptocurrency exchange #WazirX. It is designed to be a utility token within the platform, meaning it has specific uses within the WazirX ecosystem.
●The most important uses of WRX coin:
Trading Fee Discounts: WRX holders can avail discounts on trading fees on the WazirX platform.
Participation in Governance: WRX may give its holders the right to participate in decision-making regarding the WazirX platform in the future.
Taking advantage of rewards programs: WazirX may offer rewards programs to WRX holders, such as airdrops or loyalty programs.
● WRX Coin Features:
)Its association with a large trading platform: Being associated with the WazirX platform, WRX benefits from the platform’s growth and popularity.
Practical Uses: WRX provides tangible benefits to its holders through discounts and participation in governance.
Growth Potential: With the growing interest in cryptocurrencies in India, WRX may see its value grow in the long run.
●Risks of investing in WRX:
Price Volatility: Like any other cryptocurrency, WRX is subject to significant price fluctuations, which may result in financial losses.
Focus on a single market: WRX's association with the WazirX platform makes it vulnerable to the risks that the platform may face.
No Guarantees: There is no guarantee that WRX will increase in value or even remain around in the long term.
●Where can I buy WRX?
WRX can be purchased through several cryptocurrency exchanges, including Binance, WazirX itself, Gate.io, and Kucoin.
✨️ Some important questions:
●Do I sell my coins at a loss?
You can convert it to another currency that is about to ride the rising wave, such as the $XRP currency, which is expected to rise and cross the $3 barrier, and now it is at a price of $2.25.
●I want to keep my coins, what should I do?
Withdraw coins to another exchange that supports the coin such as Gate.io or Kucoin
●Am I really buying and is it expected to rise later?
I don't want to give you unconfirmed advice, but it is usual when a currency is about to be deleted that the price reaches the bottom and may continue to stay at the bottom for a while, but during this time, investors on other platforms that support the currency buy it and with the momentum of demand for it, the currency begins to recover gradually and may regain its value after a while.
But if the reason for the deletion is the failure of the currency project, the currency may be destined to collapse completely.
