As of now Indians have to be very careful when they are buying or selling crypto because the government of India is watching your moves. Like if we are buying or selling crypto we have to pay some taxes along with the 30% profit tax. So for Indians we have Binance P2P as well as directly buying from WazirX. For selling again we have Binance P2P,I am not sure if WazirX have the INR selling option enabled or not, not used recently.
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The problem with both of these exchanges is that we have to pay heavy taxes or we have to pay higher amount for buying and selling. Like if I take example of Binance, I have to pay almost Rs 90 for 1 USDT that means Rs 6 more than the actual price. Similarly if I have to sell I have to sell at Rs 79, I.e. Rs 5 less than the actual price.
If you don't know, we have a p2p feature in Binnace which helps us to buy and sell crypto and get the money through the UPI or other means. The good thing is that it is trusted through Binance escrow service. But the only drawback is that the price per USDT for both buying and selling is not that great.
I don't want want to pay almost 5% more money or 5% less money for buying and selling every time. I know these guys are actually doing business and for their business they have setup p2p and they have to earn using it. But as a small time investor my money is not huge that I can forgo 5% everytime.
I know Binance being the top exchanges and it helps us to do p2p in the most secure way. Almost all the traders are Greta out there done 100s of trades and having more than 80% completion. But I was looking for something which has less fees and trustworthy.
This is where IndiaUnited p2p feature comes handy. I have done couple of trades using the p2p feature in IndiaUnited and the process is quite smooth. And the best part is you will buy or sell at the actual amount and not 5% up or down. Also the best thing is the Group IndiaUnited has been started by some of the great Indian Hivers so you will feel secure doing p2p with the fellow Hivers. If you want to buy or sell just start a thread like below or comment on someone's other post.
If you want more security you can take help from the Community members who will guide you on how to do secure trading. I know you might have 100s of questions for your first trade after all it is your hard earned money. There is no shame in asking questions and taking necessary precautions before doing the actual trade. We don't have to pay heavy fees on transferring the money out from Hive wallet and can do the trade from here itself. So why wait and do your first p2p trade today itself.
