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How the Cripz Platform works?
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How the Cripz platform works?

Cripz – is a decentralized P2P platform for trading crypto-assets. You can buy or sell cryptocurrency by making transactions with other users without an intermediary. Funds are exchanged directly between buyer and seller wallets within the blockchain network.


Benefits of the P2P platform

1. No risk of blocking – the platform has no access to user data, which eliminates the possibility of blocking the account or user transactions from its side.

2. No verification – we do not require any documents, which guarantees our users complete anonymity.

3. The platform is not in contact with user's money – transactions between users are made directly in the blockchain through Escrow-warehouse, which eliminates any possibility of funds theft.

4. Various payment methods – we made sure that users can make payments using the usual payment systems. There are more than 100 different payment methods on the platform and their number is gradually increasing.

5. Security of transactions thanks to Escrow technology – funds are stored on special Escrow accounts in the blockchain during the transaction, reliably insuring the transaction against the risk of default.

6. Global service – the platform allows users from all over the world to trade using any national currency to buy or sell digital assets.

7. Ease of use – a very simple and intuitive trading interface does not require any special knowledge and allows everyone to exchange cryptocurrencies with just a few simple steps.


Where to get a wallet for cryptocurrency?

To work with the platform you need Cripz Wallet, you can use it as your main wallet or connect your existing one to it.

Cripz Wallet is a reliable solution for storing and exchanging cryptocurrencies, you can download and set up your wallet in minutes by following this link: https://cripz.com/wallet


How to start trading?

1. Go to the trading platform: https://app.cripz.com

2. In the upper right corner, click "Connect Wallet" to log in.

3. Select the "Buy" or "Sell" market.

4. Using the filters, sort the existing offers on the market:

  • choose which cryptocurrency you want to buy or sell
  • specify the volume you are interested in
  • specify payment methods that suit you


5. Now you see all the offers that match your request, identify the best one for you and open the deal.


How the deal is done?

1. On the Cripz platform, anyone can place an ad to buy or sell cryptocurrency on their own terms, this offer becomes publicly available to all users.

2. A buyer interested in acquiring an asset specifies the volume he is ready to buy and chooses the method of payment. The platform automatically calculates the final cost of the transaction, including the deduction of all commissions.

3. If the conditions are suitable, the buyer initiates the opening of the transaction, after which the platform moves both participants in the process to a chat room to make the exchange. Use only the chat within the transaction to communicate with the counterparty, do not move the communication to other communication channels or messengers. Within a given time frame, each party, in turn, commits to perform their part of the transaction.

4. The seller of the cryptocurrency needs to deposit the amount of cryptocurrency requested by the buyer into the Escrow vault. As soon as the seller fulfills this condition, the buyer will receive a notification with a link to the resource confirming that the cryptocurrency is transferred to the Escrow vault.

5. After the notification about the cryptocurrency's arrival in the Escrow vault, the buyer transfers the fiat money directly to the seller's details via the selected payment method and confirms his part of the transaction in the chat.

6. The seller, having made sure that the required amount is credited to his account, confirms the receipt of funds on the platform, after which the previously reserved cryptocurrency in the Escrow vault is sent directly to the buyer's wallet.

7. The transaction is considered completed. Each of the participants fulfilled its conditions, due to which there was a successful exchange of funds.


Dispute Resolution

If a dispute arises between the parties during the transaction, either party can engage a Cripz platform operator to resolve it, who will review the terms of the transaction, analyze the transactions made and help to produce a fair outcome of the transaction.

Always strictly follow the system chat instructions from the platform, to protect yourself from fraudulent actions. Do not transfer money until you are sure that the cryptocurrency has been deposited to Escrow and do not confirm the transaction until the funds are credited to your account.


User protection system

The Cripz platform uses Multisig Escrow (2 of 3) technology to provide secure and anonymous exchange between users.

Multisig Escrow (2 of 3) is a technology for signing transactions with multiple keys. It creates a digital vault for exchanging funds that only opens when two of three possible keys are used.

In a P2P (buyer-seller) transaction, each party possesses one of the keys and the third key is provided to the platform on which the exchange takes place – as guarantor.

The platform acting as a guarantor of the transaction cannot misappropriate user funds in any way, as it always possesses only one key.


Benefits of decentralized platforms

The main reason for the popularity and development of the crypto industry was people's desire to get rid of the use of financial intermediaries for money transactions, but before the advent of blockchain technology, such transactions could not guarantee users complete security.

Previously, you could not have a bank account without providing the bank with a complete package of your personal information. Now, anyone can register a cryptocurrency wallet and make direct money exchanges with anyone around the world, while remaining completely anonymous.

Today, there is no need to go through the registration procedure and confirm your personal data. There is no more need to deposit funds into a trading platform, exposing your assets to the risk of being hacked or stolen by a third party.

The decentralized Cripz platform is a new way of direct exchange of assets between people, with the guarantee of complete anonymity and security, as well as with minimal costs for payment transactions.

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