Are you on the lookout for the best and credible OTC broker for your OTC Bitcoin trading? Finding and choosing a platform that can meet your requirements isn’t as easy and simple as it sounds. You need to spend long hours doing your research on the internet and put your best foot forward to shortlist the most reputed OTC brokers and platforms meeting your criteria. Before we get into the details, let’s have a look at how Bitcoin OTC trading works:
What is Bitcoin OTC Trading?
Bitcoin OTC trading is an ideal choice for traders and investors wanting to buy a large amount of cryptocurrency (especially Bitcoin). Buying crypto tokens or coins through a traditional exchange can cause you several problems: slippage can greatly increase your trade’s cost and your funds are at higher risk of getting hacked, as there’s no lack of hackers who’re always on the lookout for the big fishes.
Crypto OTC trading takes place away from traditional cryptocurrency exchanges. OTC (Over-the-Counter) trades are usually placed by private wealth managers, hedge funds or individuals with high net worth. OTC trades can be performed in many different ways: via brokers, using ATMs or through chat rooms.
Via OTC Brokers – Over-the-counter trades are often handled by brokers specializing in large transactions. High-volume traders can use OTC trading platform to perform large block trades and sidestep slippage problems by accessing digital funds through the liquidity providers holding large amounts of digital currency. Best examples of Bitcoin OTC trading firms include Anaiv Capital, itBit and HiveEx.com.
Using ATMs – Bitcoin ATMs provide customers with an option to convert their fiat money into crypto coins without having to work with an online crypto exchange.
Through Chat Rooms – The first major Bitcoin OTC trading took place in a chat room called #bitcoin-otc. Hosted on many Internet Relay Chat channels, this trading network allows peer to peer transaction between crypto traders.
What to Look for in a Bitcoin OTC Trading Firm?
There’re a number of things you should keep in your mind when choosing a Bitcoin OTC trading firm for your OTC transactions. These things/points include:
What are the maximum and minimum trades that your OTC platform can facilitate? Is the platform capable of meeting your trading needs?
Anaiv Capital is one of the most reputed Bitcoin OTC trading firms that has everything necessary to securely handle larger Bitcoin OTC transactions. Funds are stored in highly-secured Escrow Wallet and kept in a secure cold storage. What makes them stand from the rest is that all their transactions are supervised by a third party to ensure optimum results. They are also quite affordable in comparison to other OTC trading firms in the market.
You need to see how much you will pay for a single transaction. Be sure to see if their fee is variable or flat.
Security & Reputation
How will your digital funds be stored? Do they have a customer support? There’s no point in working with a platform that doesn’t have a good market reputation.
What’s your take on this? Please feel free to offer your thoughts in the comment box below.