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SRD Exchange is a peer-to-peer platform built on the Binance Smart Chain that lets you trade USDT for Indian Rupees (INR) without going through a centralised exchange. Whether you’re new to P2P trading or just getting started with SRD Exchange, this page answers the most common questions about how the platform works, what wallets and payment methods you can use, and what to expect when you trade.
SRD Exchange is a P2P trading platform on the Binance Smart Chain that lets users in India trade USDT directly for INR. No KYC is required — you connect your wallet and trade without submitting identity documents.Payments are accepted via UPI or CDM (Cash Deposit Machine). The platform uses smart contract escrow to secure funds during a trade, ensuring that neither the buyer nor the seller can cheat the other. USDT is locked in escrow until the INR payment is confirmed, at which point the smart contract releases the funds automatically.
Any BSC-compatible wallet works with SRD Exchange. The most popular options are:
  • MetaMask — available as a browser extension and mobile app
  • Trust Wallet — mobile-first and beginner-friendly
  • Binance Chain Wallet — the official wallet from Binance
Whichever wallet you use, make sure it is connected to the BNB Smart Chain network (Chain ID: 56) before you attempt to connect to SRD Exchange. Connecting on the wrong network is one of the most common causes of wallet connection issues.
You can use any UPI-enabled bank account and app. Google Pay, PhonePe, Paytm, and direct bank UPI transfers all work without any additional setup.For best results and to minimise any risk of account scrutiny from your bank, consider using a secondary bank account dedicated to trading activity rather than your primary salary or savings account. If you prefer to avoid a digital trail entirely, CDM (Cash Deposit Machine) payments are an alternative — see the question below for more detail.
Speed depends on the payment method you use:
  • UPI payments typically complete in seconds to minutes.
  • CDM deposits depend on the receiving bank’s processing time but usually reflect within a few hours.
Once the seller confirms receipt of your INR payment, USDT is released from escrow instantly by the smart contract. There is no manual delay on the crypto side — confirmation triggers the release automatically.
Both methods let you complete a trade, but they differ in how the INR payment is made:
  • UPI is a digital bank transfer. It is fast and convenient, but it leaves a digital record of the transaction in your bank account and payment app history.
  • CDM (Cash Deposit Machine) is a physical cash deposit at an ATM or bank branch. It is slightly slower, but it provides a 100% no-bank-freeze guarantee because there is no digital link between the cash deposit and any crypto trading activity.
If you are concerned about bank account scrutiny or freezes, CDM is the recommended payment method.
SRD Exchange does not charge a per-trade fee directly. Instead, the platform covers the gas fees for each trade — typically between 0.02and0.02 and 0.10 per transaction on the BNB Smart Chain — on your behalf.The platform earns a small revenue through the spread built into trade rates. You will see the effective rate when you create or accept a trade offer, so you always know the exact amount of USDT or INR you will receive before you confirm.
Still have questions? Join the 24/7 Telegram community for live support from the SRD Exchange team and fellow traders.