Dubai, UAE, 28th February 2024, ZEX PR WIRE, Local DT has promptly launched an off-ramp platform to take on the menace of P2P frauds and rampant account freezes of Indian crypto traders. Off-ramp is a term used when user sells their crypto for the INR or any currency of their country. Unlike P2P, on Off-ramp platform, users don’t trade with unknown users. They get funds directly from the platform and can avoid wide range of frauds and scams taking place on P2P platforms, and can safely exchange their crypto into fiat.
Origin of P2P trading
In early days of crypto adoption P2P was an entry and exit point for retail investors to invest in a crypto or dilute their investment. Users generally buy USDT with their local currency and invest in their choice of cryptocurrency or Defi, and they use the same route to convert their profit or investment back into fiat or local currency.
The risk
However these days, all P2P platforms are filled with fraudsters who are trying to convert their scam money into USDT and take it out of country. This leads to cyber crime action against the traders who might have received money from such accounts, knowingly or unknowingly.
This is the the common theme across the country, and across the platforms like Binance, KuCoin, ByBit, or Paxful. Online forums on Reddit and other social media platforms are full of P2P scam victim stories.
Local DT offers a safe and easy exchange experience that is perhaps first of its kind in India. It has partnered with multiple Global off-ramp solution providers to offer seamless INR payments to Indian users who wish to exchange USDT without P2P.
USDT, the global currency of remote work
USDT has become a popular payment method among remote workers and freelancers.
Many companies from Europe and North America prefers to pay the software developers in Asia in USDT to avoid transaction charges by banks or commission charged by freelance platforms that goes as high as 10%.
However, recipients struggle when it comes to use the USDT in real life, convert them into local currency for being able to spend it. Local DT offers a perfect solution that fits in the requirement of this new age workers, without charging any additional exchange fees.
As of now, Local DT is available in India, offering USDT to INR exchange and will soon offer more currencies in different geographies.
