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WazirX P2P (peer to see) helps buyers convert their Fiat to Crypto (and vice versa) immediately. That is completely free and is out there 24×7 whereas being protected and authorized!! To know find out how to use WazirX P2P, learn our weblog right here.
Listed here are the questions that our customers often ask. I’m certain that you probably have any doubts, this publish will clear all of it.
Query 1: Why does WazirX P2P solely have USDT?
USDT is a secure coin. To maintain transactions easy and guarantee very excessive liquidity, USDT alone is supported.
Query 2: Who can use WazirX P2P?
Customers with Indian KYC can use the P2P characteristic on WazirX.
Query 3: I’m unable to see the vendor’s financial institution particulars and the commerce is mechanically getting canceled in 10 minutes. What to do?
Right here, you must choose a cost possibility first. Then, click on on the “Sure, I’ll pay” possibility after your commerce is matched. Solely after you click on on “Sure, I’ll pay” the vendor’s financial institution particulars will probably be seen to you. Primarily based on these particulars you’ll be able to proceed with cost.
Query 4: I’m unable to switch the funds to the vendor’s checking account as the small print are incorrect/getting failed/banking subject/community drawback.
You’ll have to attain out to our assist group by way of chat to cancel the order and waive the penalty. The assist group will ask you to share screenshots/proofs to validate the real failure. Alternatively, as soon as the commerce is mechanically canceled (after the time has lapsed) you’ll obtain a penalty e mail. You possibly can reply to this e mail with acceptable proof. If satisfied, our group will reverse the penalty.
Query 5: What to do should you make the cost however neglect to click on on ‘I’ve Paid’?
You’ll have 10 minutes to click on on the ‘Increase Dispute’ possibility. When you elevate a dispute, you’ll instantly get an e mail from our dispute group requesting cost proof. Then, inside the subsequent quarter-hour, please attain out to our assist group by way of chat, following the directions talked about within the e mail. The dispute group will then overview your cost proof together with different particulars and make a closing resolution in your dispute. The choice of the dispute group is closing and binding and can’t be reversed.
Please Be aware: We’ve a multi-check fool-proof course of that ensures full accuracy when reviewing a dispute.
Query 6: How does the restoration (of funds) work if a transaction fails on WazirX P2P – when the customer cancels the commerce as a substitute of confirming the commerce?
When the Purchaser makes the cost after which cancels the transaction, we share the customer’s cost particulars with the vendor and ask them to make the cost again to the customer. To make sure that the customer will get their funds again, we lock the vendor’s funds and/or account and ship an e mail with all the data together with the cost proof. We ship a complete of three reminders to the Vendor as soon as each 24 hours. After the third and closing reminder, we proceed with funds restoration, which takes as much as 13 enterprise days (Nonetheless, this solely works when the funds can be found).
Query 7: Even after making cost, my commerce is moved to dispute; what to do?
Your commerce might be moved to dispute for a number of causes. On this case, you’ll be able to attain out to our assist group on chat with the cost proof. Be assured that your funds will probably be protected.
Query 8: I’m a vendor/purchaser, and I don’t wish to be auto-matched with unknown patrons/sellers. What to do?
If you want to commerce your crypto with somebody, specifically, you’ll be able to add their XID at step one itself. XID works like a username! With this, the Purchaser/Vendor will probably be of your alternative, and also you received’t get matched with anybody else throughout that individual transaction.
Query 9: Is there a each day restrict on the quantity/worth of P2P transactions I can do in a day?
No! You are able to do any variety of P2P transactions in a day on WazirX. Nonetheless, your financial institution might need sure limits to which you’ll have to adhere to.
Query 10: I’m a purchaser. After making the cost, my transaction is caught at ‘Processing’. What ought to I do? I don’t know if the funds have been deducted or not.
In circumstances when you’ve got made the cost however the cost standing reveals ‘Processing’, you’ll be able to click on on ‘Sure, I’ve paid’ on WazirX and fix the proof of cost (processing) and look forward to the vendor to verify the receipt of cost. If the vendor receives the cost, the transaction will probably be processed. In case the cost is canceled, you’ll be able to attain out to our assist group by way of chat, and we’ll cancel the order for you and also will reverse the penalty as this was a real error.
Query 11: What are the security measures taken by WazirX?
We perceive that trusting unknown friends is tough. To make sure that your funds are protected, WazirX has an escrow system to safe your entire transaction in order that neither get together can cheat the opposite. When you’re a vendor – WazirX is not going to launch your USDT to the customer till you affirm the receipt of cost, and should you’re a purchaser – WazirX will maintain the vendor’s USDT whilst you make a cost to the vendor. We additionally confirm the KYC particulars of each consumer earlier than permitting them to commerce on WazirX. A report of each transaction that happens on our change is maintained.
Query 12: The USDT obtained is lesser than the order positioned. Why is that this so?
When an order is efficiently processed, you’ll obtain the assured USDT mechanically into your account. Deductions, if any, might be penalties or excellent buying and selling charges. You possibly can examine the ledger within the Buying and selling report back to know extra about these deductions.
Factors to recollect
To make sure that your transactions usually are not canceled or rejected, please do maintain these factors in thoughts:
- As a purchaser:
- Ensure to pay the matched vendor solely. Don’t make funds to another vendor as soon as your commerce is matched.
- Don’t spherical off the quantity to be paid. Which means that if it’s a must to pay 1198.20, please pay the precise determine that’s 1198.20 (and never 1199 or 1200).
- It is best to make funds solely from your personal account and never from another (ex: household/mates) accounts, as this will probably be thought of invalid. As soon as the cost is caught on this case, the restoration will probably be as a third get together cost and never as a P2P one. Furthermore, if the cost is comprised of a third get together account, the commerce will at all times be settled in favor of the vendor. Making third get together funds is just not allowed on WazirX P2P and can lead to your account getting flagged on the platform.
- Upon getting made the cost, make sure you affirm the identical on the app. Right here, whereas importing the cost proof, be sure that the UTR (Distinctive Transaction Reference) quantity is seen.
- Guarantee to learn the directions on the display accurately. For instance, within the case of ‘Partial Order Matching’, be sure that specified quantities alone are paid to the best get together.
- In circumstances when your P2P cost has failed, we propose you shouldn’t attempt to pay once more instantly. As an alternative, you’ll be able to contact our assist group with the screenshot exhibiting the failure of cost. Our group will make it easier to cancel the commerce and also will reverse the penalty as this was a real error. As soon as that is canceled, you’ll be able to place a contemporary order.
- As a vendor:
- When cost is obtained, affirmation of receipt of cost is obligatory. In case this isn’t executed, the dispute decision group will take acceptable motion.
- In case you have obtained cost from a 3rd get together (anybody apart from the customer), don’t affirm the commerce and attain out to us by way of chat.
- The wait occasions are as follows:
- As soon as the commerce is matched, as a purchaser, you’ve got 10 minutes to verify if you need to proceed with the transaction and pay for it.
- To finish the cost and make sure the identical, you (purchaser) get 60 minutes.
- The vendor has to verify the receipt of cost inside 2 hours of the particular receipt. If he/she fails to take action, the transaction will mechanically be shifted for dispute decision.
- Dispute decision could be anticipated inside 24-48 hours typically. Nonetheless, if any case is caught as a result of particular banking causes, the decision can take as much as 3-5 banking days.
You possibly can attain out to our assist groups as soon as this time interval has lapsed.
- The related penalties are:
- In case you have confirmed to make the cost however failed to take action and now have not canceled the transaction, you can be liable to pay a penalty of 10 USDT or 1.2% of transaction worth, whichever is increased.
- When you didn’t make the cost and nonetheless confirmed that you’ve got executed so, you’ll have to pay a penalty of 20 USDT or 2.4% of the transaction worth, whichever is increased.
In real circumstances, the penalty could be reversed. Our assist group would be the deciding authority right here.
- While you elevate assist tickets or attain out to us by way of chat, please attempt to elaborate in your concern intimately. Offering acceptable screenshots will probably be helpful for a speedy decision.
We hope these solutions and pointers will make it easier to in your P2P journey. In case you’ve got any extra questions, please be at liberty so as to add them within the feedback beneath.
Joyful buying and selling!
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