AirTM is a peer-to-peer marketplace where people from all over the world can exchange digital assets to fiat currency. In other words, it is a place where you exchange “old money” for “new money”.
It was founded in 2015 in Mexico City by Ruben Galindo and Antonio Garcia. The company was formed as a way to help people in Venezuela and other Latin American countries curtail the free fall of their local currency values which were being eroded by hyperinflation.
It was a way to hold their funds in a more stable form and exchange it at a later point in time when they needed it. Since then, it has grown to over 160 countries worldwide. It is a great way for people in countries where the banking systems are not in the best shape to hold value as well as grow their wealth.
With AirTM, you can exchange digital assets and your country’s currency for AirUSD which can either be held to maintain a value or exchanged for other digital assets. With the current and future expected surges in cryptocurrencies, it’s a great way to get in on the action.
How Does AirTM Work?
AirTM works in a very simple way. It is a marketplace that matches one peer who has a particular digital asset or fiat money with another who is looking for the same currency or asset.
A peer places a request in the marketplace for whichever asset or currency they are looking for and a fellow peer or cashier will pick up the request. Once they do that, the first peer sends the funds or digital asset to the designated peer’s account.
Once the second peer or cashier receives the funds, they then send the AirUSD or corresponding digital asset or currency as requested by the first peer. Once both parties are satisfied, the transaction is then completed.
To protect against fraud, AirTM has an escrow service where AirUSD is held until both parties have verified that the transaction has been completed accordingly. If any issues do arise, one of the parties can lodge a complaint and representatives from AirTM will start a resolution process until the matter is settled.
The most common complaints are where the cashier or second peer has not received the payment while the first peer would have stated that they have sent the payment. Both parties have to prove that they have either sent or not received their funds.
If the first peer is able to prove that they have indeed sent the funds through documentation, they will get the AirUSD held in escrow added to the account. If they are not able to prove that they have indeed sent the funds, the AirUSD held in escrow will be sent back to the second peer or cashier’s account.
Usually, complaints that are lodged are settled within a few hours but may stretch into days depending on the nature of the complaint and if the parties are failing to find common ground. The latter scenario is quite rare though.
What is AirTM account?
To use AirTM, you need to open account. This can be done by following this link: https://kudaonline.com/airtm. You can set up your account easily by following the steps outlined. As part of the registration process, you will be asked to verify your account.
Once you have satisfactorily done this, your account will be verified and you will be able to use your account.
Basically, your AirTM account allows you to trade currencies and digital assets with peers from all over the world.
How do I use AirTM?
Your AirTM account accepts most currencies from all over the world. You can make a direct bank deposit, use almost all crypto currencies, or trade for gift cards. Once your account is set up, you can follow these steps to add money to your AirTM account.
- Go to https://app.airtm.com
- Log in to your AirTM Account
- Select the Add Option on the left-hand panel if using a computer or the second icon from the left on the bottom part of your mobile phone screen.
- Select the payment option you want to use from the ones listed. If your preferred option is not listed, select the more payment options link.
- Type the name payment option you want to use and select that (Mobile money wallets for some countries are also accepted so check if yours is listed by typing the name).
- Enter the amount of money you wish to convert to AirUSD. You will be shown the equivalent amount you will receive in AirUSD.
- Make sure that the tab option is set to “Request peer to accept your request”
- Press “select”
Once you finish this step, you will need to wait for a peer to pick up your request in the marketplace. Make sure that you stay logged in and check every few minutes to see whether it has been accepted by anyone.
Once someone accepts, information directing you where to send the funds will appear in the transaction window. Follow the steps outlined and then send proof of payment as directed in the instructions.
Sometimes your peer will request that you follow additional steps. They will send these instructions in the chat window. Because this service is from Latin America, some correspondence will be in Spanish. Simply use Google Translate to translate their message as well as respond to them.
Once this is done, you will need to wait for your peer to confirm receipt of funds. Once they do, your AirUSD will be credited to your account.
To convert your funds from AirUSD to any other form, you use the withdraw option instead of request. These are the steps you follow:
- Select the “request” option on a computer or the third icon from the left on mobile.
- Select the payment option you want to be paid with
- Enter the amount of AirUSD you wish to trade
- Make sure that the request a peer to accept your transaction option is selected then press select.
- The funds you entered will be deducted from your account and put into an escrow
- Once a peer accepts your request, they will make a transaction in line with your request.
- Once they have met your requirements, you accept the transaction and the AirUSD will be forwarded from escrow to their account.