- First get a non-custodial wallet. Trust wallet supports most chains. You may have MetaMask, Rabby or Phantom too.
- For converting INR to USDT-BEP20 and vice-versa, check CryptoIndiaUnited.com. It is a Telegram based Indian Crypto community. Their OTC section has Automated Escrow Bot, which will charge you 0.5 USDT or 0.2%, whichever is higher. Many are buying and selling USDT in OTC section. Buy/Sell with some of them using the official escrow bot. Don’t be in a hurry. First join there, settle for a few days, read all the posts at Guidelines section, communicate with people, understand the process and then go for a minuscule trade through the official escrow bot. Just like Binance or any other P2P, there are scammers over there too. Do NOT do anything without their official escrow bot, for which deposit addresses are provided publicly in the Guidelines section. While selling USDT, accept only CDM, CCW, QCW or Gift Card to avoid bank freeze.
- For same chain swap, use UniSwap or PancakeSwap.
- For cross chain swap, use SimpleSwap or FixedFloat.
- For spot, future or margin trading, use HyperLiquid, Lighter, Aster, EdgeX.
FAQ
Q: How does Automated Escrow Bot work?
A: USDT seller deposits USDT to an address provided by the Bot. USDT buyer pays INR to USDT seller through any verifiable payment method. USDT seller releases Escrow. For any dispute, admins interfere.
Q: How to avoid bank freeze due to P2P?
A: First understand why people are getting their bank accounts frozen. If anyone receives tainted money while selling Crypto, they get their account frozen. It does not matter whether the guy who sent you fund complains against you or not. Freeze happens even at Layer 7. To avoid this, you need to avoid UPI/IMPS/NEFT/RTGS altogether. While selling USDT, only accept CDM, CCW, QCW or Gift Card to break the chain of taint. USDT buyers are always safe.
Q: What are CDM, CCW & QCW?
A: These are different verifiable Cash payment methods through banking channel.
- CDM is Cash deposit through ATM or branch. USDT buyer deposits Cash at USDT seller’s bank account. For frequent deposits across India, sellers are supposed to use a Current Account.
- CCW is Cardless Cash Withdrawal. USDT seller withdraws Cash from USDT buyer’s bank account. For frequent withdrawals across India, buyers are supposed to use a Current Account. Buyer generates a Transaction ID and OTP for withdrawal. After code generation, withdrawal window is typically 2-3 hours.
- QCW is QR Cash Withdrawal. USDT seller withdraws Cash from USDT buyer’s bank account. For frequent withdrawals across India, buyers are supposed to use a Current Account. Seller generates a QR code at ATM and buyer pays to the image of that QR code. After QR generation, withdrawal window is typically 2-3 minutes.
Q: How to accept Gift Card through Escrow?
A: Always accept Gift Card code, which is directly sent by provider. Never accept code from any user through Escrow. This may turn it into an unverifiable dispute if the code is found to be used.