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.
GIOTTUS PEER TO PEER 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![]() |