What is Preferred Matching?
The preferred matching feature gives you the power to be matched with a Buyer/Seller of your preference. This is especially useful when you have found your own Buyer or Seller and want WazirX to match your order with theirs.
- If you are a Buyer - You will be matched with a seller of your preference.
- If you are a Seller - You will be matched with a buyer of your preference.
How it works?
When you place an order and add a preferred buyer/seller to it, WazirX will first try to match your order with the order of the preferred buyer/seller. If you are not matched with the preferred buyer/seller, WazirX will automatically start finding other buyers/sellers for your order, so you can still go ahead and complete your order :)
When should I add a preferred buyer/seller?
If you are a Buyer - You should add a preferred seller if you've found someone who wants to sell to you. Alternatively, You can also tell the seller to add you as a preferred buyer.
For eg - If you want to buy 1,000 USDT, you can make an announcement in crypto groups online and share your XID. If you find sellers who want to sell to you, you can add their XID when placing a Buy Order, or tell them to add your XID when they place a Sell Order.
If you are a Seller - You should add a preferred Buyer if you find someone who wants to buy from you. You can also tell the Buyer to add you as a preferred seller.
For eg - If you want to sell 1,000 USDT, you can make an announcement in crypto groups online and share your XID. If you find Buyers who want to buy from you, you can add their XID when placing a Sell Order, or tell them to add your XID when they place a Buy Order.
What is an XID?
Your XID is your unique WazirX ID that you can use to share with preferred buyers and sellers. To create your XID -
- Go to the P2P page
- Click on Add Preferred Seller under the Buy tab
- Click on Create Now and follow the steps.
Your XID must contain only alphabets and numbers. It must be minimum 4 characters and maximum 15 characters. It cannot contain special characters like @-!#$%^&* etc. Once created, your XID cannot be changed.
My Order did not get matched with my preferred buyer/seller!
There could be multiple reasons why your order did not match with a preferred buyer/seller -
- Your preferred buyer/seller has not placed an order yet
- Your preferred buyer/seller is matched with other buyers/sellers
- Other buyers/sellers set their preference before you
How can I get more buyers and sellers for my P2P orders?
Share your XID with everyone in crypto groups! For eg, if you want to Buy USDT, you could make the following announcement in telegram and whatsapp groups -
I'm ready to buy 700 USDT on WazirX P2P. If anyone is selling USDT, add my XID siddharth to your sell order! I will make payments very fast to your bank account.