When a user starts a transaction, the mentioned amount of Bitcoins is automatically deducted and reserved from the seller's Bitxoe Wallet.
I believe they are not using smart contracts. And I have the exact same question. How do you deal with fiat?
Hello,
Thanks for responding.
Integration with Fiat in under future roadmap of development.
As of now, The system doesn't support cash withdrawal. The users can exchange in supported crypto coins or fiat currencies through P2P swap option. All options are mentioned in the transaction type. Note that, you must know the username of your trading / escrow partner. This minimizes the risk of getting scammed.
If you have any other question, feel free to ask.