How we reduced P2P confirmation time by 75% 💪

Namaste Tribe! Whether it’s via emails, Twitter, or even Telegram — we love to hear from you. Your consistent support and feedback have helped us make WazirX P2P the go-to method of buying/selling crypto with INR. 🙌

Did you know: 90% of P2P trades complete within 15 mins!

When a P2P buyer and seller get auto-matched, the buyer gets 60 minutes to make payment and confirm. During these 60 minutes, the seller’s USDT is held in escrow by WazirX. Of late, sellers have been reaching out to us asking if we can reduce the P2P trade time from 60 minutes. We brainstormed, and got down to fix it in a way that’s fair to both — buyer and seller.

This latest P2P feature is pretty rad, and you’re going to love it. ⚡️

Now, here’s what happens when a buyer and seller get auto-matched:

  1. Buyer gets 15 minutes to confirm that they will make payment to the seller
  2. Once they confirm, they get to see the seller’s details, and 60 minutes to make payment

Why is it a win-win for everyone?

This feature is fair to both buyers and sellers. Let’s say, a buyer and seller get matched in the night and the buyer isn’t available to make payment. Earlier, seller’s USDT would be in locked state for 60 minutes, and it’s unfair. Again, there are times when some buyers make false confirmations without paying, and it results in higher P2P disputes.

Now onwards, if a buyer doesn’t click on “Yes, I will pay” within 15 minutes of getting matched, they won’t be able to see the seller’s payment details, and the trade will get cancelled. It will reduce the seller’s waiting time tremendously. 💪

Moreover, a buyer would be penalised if they click on “Yes, I will pay” but cancel trade or don’t pay.

We released this feature 2 days ago, and we’re already seeing increase in successful trade confirmations, and decrease in disputes.

Keep trading 🚀

Enjoy using P2P? Click here to share it with everyone.

Priyanka works at WazirX, and is HODLing like most of us.

WazirX

Building India's Most Trusted Bitcoin Cryptocurrency Exchange

WazirX Bitcoin Exchange

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Building India’s most trusted cryptocurrency exchange. Twitter: https://twitter.com/wazirxindia WazirX website: https://wazirx.com

WazirX

WazirX

Building India's Most Trusted Bitcoin Cryptocurrency Exchange

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