Hey Peers,
Good day so far? Wait till it gets better with what you are about to read.
We at Bitbns are dedicated to bringing you the best cryptocurrency trading experience. In line with what we live for, we recently launched Peer-to-Peer (P2P) trading to facilitate lightning-fast P2P transactions exclusively for you.
But today, Bitbns is going to reinvent P2P Trading in terms of speed and reliability, with an ‘Incentive Scheme’ for depositors, which will boost the transaction speed for withdrawers by an even higher degree.
The Scheme
A P2P Transaction requires matching a pair of depositor and withdrawer, collectively called ‘Peers’. And the speed of ‘Peer Matching’ is actually what the speed of transaction depends upon. To boost this process of peer matching, we have introduced an option that allows withdrawers to tip depositors as per their wish. The tip could be anything in the multiple of 0.01.
For example –
If a withdrawer wants to withdraw 100,000 INR, then according to the tip slab:
If you want to be the number 1 in the queue and want the fastest withdrawal just add 0.01 on top of what the highest withdraw tip is there.
What depositors should know
The ‘Peer Matching algorithm’ we use at Bitbns, automates the Peer Matching process, which means we allow all depositors to earn up to 20% tip on a particular transaction, through a 100% fair process.
What withdrawers should know
Faster peer matching means faster transactions. Additionally, a withdrawer needs to keep in mind that more the tip they pay, higher their chances of peer matching are. We also provide an option for withdrawers to change their percentage of tip offered, in case they want to modify their chances of peer matching.
Why do I even need to pay tips ?
When you are selling on bitbns you are receiving a premium pricing as compared to market. Let’s take an example.
Here are the bTC snapshots of Bitbns and koinex at the same time.
Last traded price of BTC on Koinex and bitbns
280K and 295K
Difference between them is around 5.35% (295K-280K/280K)
So you got 5.35% more while selling here.
If you withdraw at 5.35% your withdraw would happen the same day.
So you ARE NOT losing money while giving tip. You are in fact getting premium price while selling and you can decide whether you want to use the extra money to facilitate quickest withdrawal or you can wait for the withdrawal.
And the reason this is going to be true always because if there is any additional difference then people would quickly arbitrage out and remove that difference in pricing.
What’s the analogy to the tips system:
Think of Uber. When it rains there are lesser drivers who wish to drive on the roads. In order to facilitate more drivers there is surge pricing. And you get more drivers on the road the riders get their ride back home. Interestingly in bitbns P2P case you do not even need to pay the surge you already get premium because there are other exchanges and people seamlessly arbitrage any difference.
Additionally if users want to withdraw without tips and the same day then can always try USDT P2P.
Note: Bitbns earns absolutely nothing from the tip. The entire tip paid by the withdrawer goes to the depositor. The sole intention of Bitbns behind launching this scheme is to facilitate faster P2P Transactions for its users.
Happy Trading!
Bitbns
How Different P2P Methods to Deposit and Withdraw INR Works on Bitbns
- Voucher Based Model — You can Encash the Voucher for INR to Bank Account
2. Direct Transfer of INR — Deposit/Withdraw in Peer’s Account
3. INR deposit and Withdrawal via P2P USDT
