CoinsKart Wallets Explained

Wallets are storage points on CoinsKart which holds balance of certain currencies.
There are several wallets on your CoinsKart Dashboard.

1. The Cryptocurrency Wallet - Which holds Balances to your cryptocurrencies deposits and purchases.
2. The Fiat Wallet - Which holds balance to your Ghana Cedi deposits.
3. The Escrow Wallet - Which holds all your contract balance.

The Cryptocurrency Wallet

Your CoinsKart Cryptocurrency wallet is in the Wallet tab of your Dashboard when you Signin to your CoinsKart Account.
Your Crypto Wallet holds all balances to all your cryptocurrencies.
You are free to Store, Send, Receive or transact with any cryptocurrency that appears on your CoinsKart Cryptocurrency Wallet.

The Fiat Wallet

The Fiat Wallet is located on the Account tab menu items after Signing into your CoinsKart Account.
The Fiat Wallet holds currencies such as Ghana Cedi, US Dollar, etc.
You can Deposit or Withdraw money to Ghana Cedi Wallet through any of your verified Mobile Money numbers and Bank Accounts.
You can also use it to Send and Receive money from other CoinsKart users with your Email Address.

The Escrow Wallet

The Escrow Wallet is located on the Account tab menu items when you Signin to your CoinsKart Account.
The Escrow Wallet holds all your contract balances. And these balances are moved there to ensure that centain obligations are met when the time is due.
If you have any money on the Escrow Wallet it means you have a pending contract.
What exactly will I do for my money to be moved here?
Below are the list of things you will do on CoinsKart for money to be moved to your Escrow wallet;

1. When you Borrow money through our Peer-to-Peer Lending programme, the collateral will be moved from your active wallet to the Escrow Wallet.
2. When you are a Crypto Vendor on CoinsKart and you create an offer, the offer amount will be deducted from your active wallet to your Escrow Wallet. This is to ensure that, when someone Buys or Sells Cryptocurrency to you through the offer you have created, the transaction is completed instantly.
3. When you are a Lender on CoinsKart and you create a loan offer, the amount will be deducted from your active wallet to your Escrow Wallet. This is to ensure that, when someone Borrows money from you through the offer you create, it's given to them instantly.