To initiate a sell transaction, you will use the fiat/sell endpoint to convert your cryptocurrency into fiat currency.

Initiate Sell Transaction

Endpoint:

POST /api/v1/wallet/conversion/fiat/sell

Description:

This API call allows you to sell cryptocurrency (USDT or USDC) in exchange for fiat currency (currently limited to INR) via a bank transfer.

Request Format:

You need to send a POST request to the endpoint with the necessary headers and the body parameters outlined below.

curl --location '<https://mudrex.com/api/v1/wallet/conversion/fiat/sell'>  
--header 'X-Timestamp: {{timestamp}}'  
--header 'X-Client-Id: •••••••'  
--header 'X-Secret-Key: •••••••'  
--header 'X-Request-Id: d'  
--header 'X-User-Id: •••••••'  
--data '{  
    "source_id": "65d246fc-6a5b-43d7-89bf-944e95ff2279",  
    "fiat_symbol": "INR",  
    "crypto_symbol": "USDT",  
    "fiat_amount": 100,  
    "crypto_amount": 1.14,  
    "payment_method": "bank_transfer"  
}'

{  
  "success": true,  
  "data": {  
    "status": "CREATED",  
    "fiat_amount": 100,  
    "transaction_type": "SELL",  
    "fiat_symbol": "INR",  
    "failure_code": null,  
    "exchange_rate": 82.56976,  
    "id": "a892dc4a-aecb-4a22-9de4-2990b4179b77",  
    "crypto_symbol": "USDT",  
    "created_at": "2022-10-03 07:51:15",  
    "bank_transaction_id": null,  
    "source_id": "65d246fc-6a5b-43d7-89bf-944e95ff2279",  
    "failure_desc": null,  
    "crypto_amount": 1.14  
  }  
}

Required Parameters:

1. source_id: The unique wallet address ID of the user initiating the transaction.
2. fiat_symbol: The fiat currency in which you want to receive the amount. Currently, the only supported fiat currency is INR.
3. crypto_symbol: The cryptocurrency you want to sell. Available cryptocurrencies are:
   1. USDT (Tether)
   2. USDC (USD Coin)
   3. Other cryptocurrencies may be available upon request.
4. fiat_amount: The amount of fiat currency (INR) you want to receive. You must either specify this or the crypto_amount.
5. crypto_amount: The amount of cryptocurrency you are selling. You must either specify this or the fiat_amount.
6. payment_method: The payment method used to transfer the fiat currency to the user. This must be set to bank_transfer.

Response Parameters:

• success: Indicates whether the request was successful (true or false).
• status: The current status of the transaction. Possible values include CREATED, PENDING, COMPLETED, etc.
• fiat_amount: The amount of fiat currency being exchanged (INR in this case).
• transaction_type: The type of transaction. In this case, it will be SELL.
• fiat_symbol: The symbol of the fiat currency (INR).
• exchange_rate: The rate at which the cryptocurrency was converted to fiat.
• id: Unique ID for the transaction.
• crypto_symbol: The symbol of the cryptocurrency being sold (e.g., USDT).
• crypto_amount: The amount of cryptocurrency being sold.
• created_at: The timestamp when the transaction was created.
• bank_transaction_id: The bank transaction ID, if applicable (null if not yet processed).
• failure_code: An error code if the transaction failed (null if successful).
• failure_desc: A description of the failure, if any.

Notes

• Currently, INR is the only supported fiat currency for the sell transaction.
• Bank transfer is the only available payment method.
• You can only sell USDT or USDC. Other cryptocurrencies are available upon request.

Check more details about API endpoint here.