What is WazirX P2P?

WazirX is a well known Indian trading platform. It is India’s largest cryptocurrency exchange. The company started in 2018 and is growing strong to be the most trusted online platform. 

That of Binance Group which makes it an easy-to-trust platform. WazirX P2P is the peer-to-peer service of the platform to buy and sell fiat currency directly with cryptos. To learn more about the platform P2P services let’s analyze it. 

WazirX P2P

WazirX P2P is a service that allows traders to buy or sell USDT directly with other buyers and sellers. The platform for exchange is WazirX and it helps traders to match with the right buyer or seller online. 

P2P is peer-to-peer or people-to-people. Traders can buy or sell their fiat currency directly for cryptos. It makes it easy for traders to invest in the market. 

The platform is safe, works 24 hours and is completely legal to operate. Also, it works inversely for the market players. A good supporting platform for traders online. 

Key points of WazirX P2P

WazirX P2P is available for the following market traders: 

Only for users who have Indian KYC It allows only USDT buying, so if a trader wants to buy other cryptos they first have to buy USDT using WazirX P2P and then use USDT to buy other cryptos on the WazirX platform. Efficient for selling crypto at the Indian market. Traders can sell theri crypto in the Indian market and then withdraw the INR directly to the linked bank account. The minimum withdrawal amount is Rs. 1000. P2P also helps to liquidate crypto investments. 

How does WazirX P2P work?

WazirX P2P is a platform and it allows two simple things: 

Cash in, it is for bringing in the cash. If a trader wants to trade fiat for cryptos that is buy USDT via P2P and use the USDT to buy other cryptos on the platform. 

Cash-out is an efficient way to sell cryptos online. It works in the Indian market where you sell your crypto and then withdraw the cash directly in the linked bank account. The minimum amount of withdrawal is Rs. 1000 and P2P also helps to liquidate crypto investments. 

So, in simple way how the WazirX P2P works is: 

WazirX matches a person, who is looking to buy USDT for fiat with another person, who is looking to sell USDT for fiat. Then WazirX, escrows the USDT to safely keep it during the process of transaction. Then the buyer transfers fiat to the seller's bank account. Seller confirms the payment and WazirX releases the USDT to the buyer. 

Why does WazirX P2P only have USDT?

USDT is a stable coin, thus the cryptocurrency holds a stable value and price fluctuations are low. That’s the reason WazirX P2P uses USDT. Besides, the currency is backed by USD-held reserves in a 1:1 ratio. 

One USDT is always equal to $1. So, traders feel like they are trading in fiat. 

That’s why it is using USDT for easy trade and stable trading in the market. 

Is WazirX P2P secure?

WazirX is a leading cryptocurrency exchange in India. The name of the platform is enough for traders to trust it. It uses an escrow system which makes transactions secure online. 

No party is able to cheat the other. Thus, a safe trading platform. 

The system allows the traders to hold USDT until the transaction is completed. Once the payment is confirmed then the trader can release the USDT. 

In addition, it is a dispute resolution system. It detects and resolves disputes of buyers and sellers. Also, they verify the trader with KYC details.

Thus, a highly secure online platform.

Conclusion

WazirX P2P is a strong trading platform. It allows trading in fiat currencies through USDT. Traders can access the platform easily and make secure trades. The article discusses its operations, security and key points of its working. 

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