How P2P Feature Works In WazirX ?
In today's world, setting up a platform for a business isn’t an easy task requires a lot of investment. They want to select the right framework to structure formal websites.
Each of the frameworks has its own pros and cons averagely and they take a lot of time to complete the website. When it came to the crypto-related industries it's entirely different from the other business sector website.
They simply get the script from the best software company to start their business instantly.
Let me explain clearly to you in this article. First, we are going to discuss the topmost crypto exchange website in India & why we need it? What is the benefit to choose this type of business model to get more revenue?
WazirX P2P exchange platform is unique from other crypto exchange platform.WazirX P2P exchange platform helps you Buy and Sell USDT(tether) for Indian rupees directly with other Buyers & Sellers.
Tether is a stable coin is an equal amount of traditional fiat currencies, like the dollar, euro or Japanese yen.
They simply followed two-step in wazirX P2P
1. If you want to trade crypto using Indian rupees, you have to buy USDT in the exchange and then use that USDT to buy other cryptos.
2. If you want to withdraw Indian rupees to your bank account registered in a wazirX website, Sell your own cryptos for USDT and then sell that USDT for Indian rupees in the website.
How p2p trade works in WazirX:
If you want to buy bitcoin in wazirX P2P exchanges.WazirX mostly recommends that you deposit money in UPI(Unified Payment Interface).
It is fast, free and you can deposit up to Rs 2 Lakhs. You want to sign up an account in UPI using mobile number already registered in WazirX exchange platform then automatically UPI account adds to your WazirX wallet and you can deposit money also in IMPS/NEFT/RTGS, Paytm platform.
You can search the seller who is ready to sell their USTD for the currency.
After buying the USTD then you can give the USDT to the WazirX escrows for safekeeping till your trade end.
If you meet seller then, trade is want to confirm within one hour if you passed more than one hour trade will automatically be canceled by the escrow.
WazirX escrow will not release your crypto to the buyer until you send the receipt of payment to the seller.
After the deal, the buyer wants to click the “I have paid” option in a website.
If the is any problem between a buyer and seller you can raise button "dispute resolution" then dispute resolution teams identifies the problem and resolves it.
They have checked the buyer and seller KYC verification from both sides. The dispute team will take a clear and final decision to settle the dispute favor to the buyer or seller.
The trader can withdraw the 1 BTC from the WazirX wallet and move it into Personal wallet. A fee from WazirX deducted 0.001 BTC from 1 BTC.
After the transaction they receive 1 BTC – 0.001 BTC = 0.999 BTC.
They introduce a new innovative program Maker-Taker model where Makers earn a BONUS!
If you are going to post the ads for selling a bitcoin is called Maker
You earn Maker bonus when your order executes.
The Maker can earn a bonus of 0.20% and No Trading Fees
If your going to buy bitcoin your order matches to an existing order is called Taker.
The Taker must pay the transactional fees 0.25 %.
New XID order book
WazirX XID is a unique name to every trader on WazirX exchange platform. The is a lot of WazirX trader active in social media like Telegram channels, WhatsApp groups, or Forums ask if there are any USDT sellers or buyer and share your XID. They will add your XID as when placing their USDT sell or buy order on WazirX.
Introduction TUSD in WazirX
TrueUSD is an ERC20 stable coin that is fully collateralized, legally protected, and transparently verified by third-party attestations. You can use both coins to buy or sell any crypto.
If you want to launch a crypto exchange, similar to the website like wazirX. You can get the help of our Sellbitbuy Team. We give extra added security features like
2.Two Factor Authentication
3.Multiple Coin Support Wallet
5.Automatic matching engine
6.Payment Gateway Integration.