What is Peer to Peer Exchange?

What is Peer to Peer Exchange?

Peer to Peer exchange facilitates transactions between two traders without routing the money through the exchange. Giottus lets a Buyer buy without sending INR to the Exchange.


Sally the Seller.
Sally wants to sell her Bitcoins. She has a KYC verified account with Giottus.
Sally has:
Bob the Buyer.
Bob wants to buy Bitcoins. He has a KYC verified account with Giottus.
Bob has:
1.   Deposit
Seller Deposits Bitcoins.
Sally wants to sell Bitcoins. She has transferred Bitcoins to her dedicated Bitcoin wallet address provided by Giottus.

2.   Create
Order created.
Sally creates a new Sell Order mentioning Price and Quantity. Now Sally has an active sell listing that other users can view and create orders from.
Bob wants to buy bitcoins. He has found Sally’s listing and likes the price. He wants to buy 0.01 bitcoin for INR4000.00 via cash deposit.
3.   Payment
INR Transferred.
Sally receives an alert to let her know she has a new order from Bob. She can also see Bob and his Buy order in the Open Orders table.
Bob selects the Sally’s order and Sally’s Bank Account Details are displayed. Bob makes his payment for 4000.00 INR to Bank account mentioned in the table and sends payment confirmation.
4.   Bitcoins released
INR Transferred.
Sally checks her Bank account and confirms the receipt of the payment as soon as her Account is credited with the correct sum.
Bob receives an alert once he has received the bitcoins from the order in his personal Giottus wallet.

Now Sally has Rs.4000

Bob has 0.01 Bitcoins


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