Incepted with a vision of creating India’s most-trusted Bitcoin and crypto exchange, Mumbai-based WazirX has been gearing up to adapt to the RBI ban on crypto investments and trading. The aspirational brand has come up with an innovative P2P transfer solution to help crypto enthusiasts continue buying and selling of crypto without any hassles.
The Peer-to-Peer transfer carries the glimpse of a decentralized future, allowing users to seamlessly buy and sell crypto for INR directly with each other. WazirX will be at the centre of these transactions, connecting the person looking to buy crypto for INR with someone who’s looking to sell crypto for INR. As part of the innovative approach, the seller deposits the crypto with WazirX, which the brand escrows for safekeeping during the transaction. On the other end of the spectrum, the buyer pays INR to the seller and as soon as the seller confirms receipt of the payment, WazirX releases the crypto to the buyer.
Commenting on the latest feature, Nischal Shetty, Co-Founder & CEO of WazirX said, “At WazirX, we are extremely passionate about crypto trading and investment and it is our endeavour to provide robust and secured solutions for our users to continue their participation in this global phenomenon. To the same end, we have launched an innovative feature enabling peer-to-peer crypto transfers. We will be at the centre of these transactions, ensuring completely secured and hassle-free transfer of funds and cryptos to voluntary buyers and sellers. While the feature allows users to still build their digital assets, we are also hopeful that the authorities will acknowledge the impact crypto is having on global economies and would work closely with the private players like us to better regulate this space, instead of simply banning the same.”
P2P crypto transfer is perhaps the safest and most legal way to cash in/cash out of cryptos in India. Once users cash in, they can easily trade in crypto-pairs and cash-out with ease, after accruing profits on their investments.
