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How to buy crypto with INR?

A2ZCrypto SWAP supports Bitcoin, Ethereum, USDT, USDC, USD91 and more!

Updated over a week ago

Prerequisites

  • Downloaded the XREX app.

  • Registered and completed XREX's identity verification process.

  • Enabled two-factor authentication.

  • Passed A2ZCrypto verification.


Step-by-step common questions

Step 1: Choose a crypto to buy

A2ZCrypto SWAP supports Bitcoin, Ethereum, USDT, USDC, USD91 and more!

What is the exchange rate and does it include fees?

The exchange rate is the price at which one currency can be traded for another. With A2ZCrypto SWAP, the exchange rate already includes fees and TDS. Please refer to the app for the most up-to-date price and detailed exchange rate information.


What is Volatility Guard?

Volatility Guard is a mechanism designed to protect against fluctuations in transaction amounts due to market volatility. This volatility exists due to the time gap between when users receive the quote and when A2ZCrypto SWAP approves the transaction upon receiving the user's INR.


How does Volatility Guard categorize volatility?

Volatility Guard categorize volatility into three levels:

  1. Low Volatility: This occurs in stable currency pairs, like USD91 against INR, where the estimated and final transaction amounts are likely the same.

  2. Slight Volatility: Involves stablecoins like USDT and USDC, where minor market shifts can cause slight differences between the estimated and final amounts.

  3. High Volatility: Pertains to cryptocurrencies like BTC and ETH, known for significant volatility. Major market shifts can result in substantial differences between the estimated and the final received amounts. If the rate exceeds a set slippage tolerance during a transaction, Volatility Guard ensures execution at a more stable rate to prevent unfavorable pricing.


What is USD91?

USD91 stands for 1 INR value in USDT/USDC. It is tradable with cryptocurrencies like Bitcoin and Ethereum, and redeemable for 1 INR worth of USDT/USDC via A2ZCrypto or Unitas DeFi Protocol. Being a part of the Unitas Protocol, USD91 is over-reserved with USD stablecoins, between 130% to 200%. Visit the Unitas website for more details.


What is the minimum and maximum single buy limit?

  • Minimum: 5000 INR

  • Maximum per unit: 500,000 INR


Step 2: Decide how much to buy & get an estimate

Please note, market shifts combined with payment processing time can cause this estimate to differ from the final received amount.

How is the estimate calculated?

The estimate is based on real-time exchange rates. Therefore, cryptocurrency volatility can make the estimated amount differ from the final received amount. Exchange rates fluctuate due to market changes, and when combined with the payment processing time, this can lead to slippage.


What are some suggestions to avoid volatility affecting final amount?

  • Buy USD91 first - Lower volatility: When you buy USD91 first, you can exchange it for BTC, ETH, USDT, etc. in XREX and other exchanges. This method reduces the risk most effectively.

  • Use Volatility Guard: When swap is performed and the rate exceeds the slippage tolerance, swap is executed to USD91 (₹1 worth of USDT/USDC) to prevent unfavorable pricing.


Step 3: Pay INR and provide reference ID

Once you’ve transferred the INR to A2ZCrypto, your bank will provide you a reference ID. Please provide this to A2ZCrypto to confirm your order.

How to make a payment?

  1. Transfer INR to A2ZCrypto.

  2. Provide the reference ID.

Please note that it can take up to 24 to 48 hours for the payment to process. For a quicker processing time, we recommend making payments on business days.


Can I deposit from other bank accounts?

No, it's essential to use your own verified bank account for payments. Otherwise, the bank transfer will fail. Payments made through banks different from your verified account can lead to a loss of funds.


Where to find your reference ID?

After completing your payment to A2ZCrypto via bank deposit, your bank will provide you with a reference ID. You can typically find this ID in your bank statement or in the SMS from your bank following your payment deposit. Simply copy and submit it here to finalize your payment.


Step 4: Swap & receive crypto in XREX or other wallets

After A2ZCrypto has processed your payment, the swap will execute instantly at the latest exchange rate and will be sent to your preferred Crypto wallet. It’s that simple!

Can I select where to receive the crypto?

Once A2ZCrypto has processed your payment, the swap will execute instantly at the latest exchange rate and will be transferred to your preferred Crypto wallet. (More options coming soon).


What does it mean the swap will execute at latest exchange rate?

It means that the swap transaction will be completed using the most current exchange rate available at the time of execution.


What occurs if there is a total failure in the deposit process?

A total failure in the deposit process is rare and might occur when the order book's depth is insufficient. This could happen if too many trades are requested at once, resulting in a partially filled situation. However, in the unlikely event of a total deposit process failure, users will be compensated with a direct payment of USD91.


How are users compensated if the deposit process is only partially completed?

For partially completed deposits when swapping BTC for instance, users receive a combination of BTC (for the converted amount) and USD91 (for the unconverted amount). Within the user interface, users will see their balance only in BTC, such as 0.001 BTC. The unconverted USD91 will not be visible.


Important notes

  • Payments must come from the account number verified for payment, otherwise the bank transfer might fail and might lead to loss of funds.

  • Estimates are based on real-time exchange rates. Therefore, volatile Crypto can cause estimate to differ from the final received amount. Exchange rates fluctuate along with the market. These market shifts combined with payment processing time can cause slippage.

  • Once you’ve completed your payment to A2ZCrypto via bank deposit, your bank will provide you a transaction or reference ID. This is usually found in your bank statement or the SMS from your bank after depositing payment. Copy it and submit it to complete your payment.

  • It usually takes around 24-48 hours to process payments from your linked bank account. Once payment is verified, the swap will execute and you’ll receive your Crypto. We advice making payments on business days, as the processing time will likely be faster.

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