1.8 How Our Smart Contract Escrow Works

CryptoBazaar never holds, touches, or has access to your crypto at any point. Not before the trade. Not during the trade. Not after the trade. Full stop.

Here is what actually happens. When you sell USDT on CryptoBazaar, your crypto travels from your wallet directly into a smart contract — a piece of self-running code that lives on the blockchain. It does not go to CryptoBazaar's wallet. It does not pass through CryptoBazaar's servers. It goes straight into the contract address, which sits publicly on the blockchain for anyone to verify.

CryptoBazaar is the platform that connects the buyer and the seller. We write the rules of the trade into the smart contract — rules like "release the USDT to the buyer once the seller confirms the payment." But once that contract is deployed on the blockchain, not even we can change those rules or touch the money inside.

Not the CEO. Not the developers. Not anyone on the CryptoBazaar team. The code is in control — not us.

This is the meaning of "your keys, your crypto." As long as you hold the private key to your wallet, you hold your crypto. The smart contract is simply a secure vault on the blockchain that holds it temporarily during a trade — and that vault is governed by code, not by people.

Forget the technical jargon for a moment. Think of a vending machine.

You put money in, press a button, and the machine gives you a snack. No shopkeeper is involved. No one can stop the machine halfway and decide not to give you what you paid for. The machine follows the rules built into it — automatically, every single time.

A smart contract works the same way. It is a piece of code that lives on the blockchain and automatically executes when certain conditions are met. Nobody can stop it mid-way. Nobody can change the rules once it is running. It just does exactly what it was programmed to do.

On CryptoBazaar, the conditions are straightforward. The seller locks their USDT into the contract. The buyer sends INR to the seller's bank account directly. The seller confirms that the INR arrived. The contract automatically releases the USDT to the buyer's wallet. No human at CryptoBazaar presses a button to make this happen — the code runs it.

The blockchain that runs this code — Polygon or BNB Chain — is a global, decentralised network of computers. CryptoBazaar does not own or control this network. We cannot override what the contract does. We can only deploy it and let it run.

Here is the exact lifecycle of every trade on CryptoBazaar, explained plainly.

Step one: The seller creates a listing and locks their USDT into the smart contract. The moment they confirm the lock, the USDT leaves their wallet and moves to the contract address on the blockchain. CryptoBazaar does not receive it. The contract holds it — and only the contract.

Step two: A buyer locks the order. The smart contract records that this specific buyer is trading with this specific seller. The terms of the trade are now set in code.

Step three: The buyer pays INR directly to the seller using UPI, IMPS, or a bank transfer. This is a normal payment from one Indian bank account to another. CryptoBazaar has no involvement in this bank transaction whatsoever.

Step four: The seller checks their bank account, confirms that the INR has arrived, and presses the Confirm Release button on CryptoBazaar. This sends a signal to the smart contract.

Step five: The smart contract releases the USDT directly to the buyer's wallet address — instantly, on-chain. No delay. No middleman. The crypto moves from the contract to the buyer in a single blockchain transaction.

At no point in this process does CryptoBazaar's wallet receive or hold any USDT. The contract is the vault. We are just the platform connecting the two people and providing the interface.

Disputes happen sometimes, and we want you to understand exactly what happens to your crypto if one arises.

If either party raises a dispute, the smart contract freezes. Nobody can touch the funds. The USDT stays locked on-chain, exactly where it was. Neither the buyer, nor the seller, nor CryptoBazaar can move it.

CryptoBazaar's team then reviews the evidence from both parties — bank statements, payment proof, trade chat history. We look at the facts and make a decision about who the rightful party is.

Once the team reaches a decision, they call a special function on the smart contract that is restricted to the admin address — a function that releases the funds to the party we have determined is in the right. Crucially, even this admin function does not route the money through CryptoBazaar's wallet. The USDT goes straight from the contract to the winning party's wallet address. We are simply giving the contract an instruction, not handling the money ourselves.

And here is the important part that many people do not realise: CryptoBazaar cannot keep disputed funds even if we wanted to. The smart contract does not have a function that routes money to us. The only options written into the code are release to buyer or return to seller. That is it. The code enforces this. Our intentions are irrelevant because the contract will not allow any other outcome.

You do not have to take our word for any of this. That is the whole point.

The smart contract code is public. Anyone can read it on Polygonscan or BscScan — the official blockchain explorers for Polygon and BNB Chain. You do not need to be a developer to verify that a contract exists at a given address and that it has received funds. The blockchain is transparent by design.

The rules are written in code, not in a company's promises. When you deposit your money in a centralised exchange, you are trusting that the company will not get hacked, go bankrupt, freeze withdrawals, or simply disappear. History has shown, repeatedly, that centralised exchanges can and do fail in all of these ways. With CryptoBazaar's escrow, there is no such trust required. The code executes the rules. The blockchain enforces them.

On CryptoBazaar, your crypto never truly leaves the blockchain. It moves between addresses — from your wallet to the contract address to the buyer's wallet. Every one of those movements is publicly recorded, permanently, on the blockchain. There is no hidden ledger. There is no off-chain balance sheet that we control.

If CryptoBazaar shut down tomorrow, any USDT locked in an active smart contract would still be there, on-chain, governed by the same code. The blockchain does not care whether CryptoBazaar exists.

This is not a novel or unproven approach. Smart contract escrow is the same technology used by the world's largest decentralised finance protocols, which collectively handle tens of billions of dollars in transactions every day. We have simply brought this technology to peer-to-peer INR trading.