As the simplest form of trading, OTC trading (Over-the-Counter trading) allows two parties to transact financial instruments without centralized, regulated aspects directly.
For instance, platforms like Genesis Block can receive Hong Kong dollar cash, and they can exchange that for cryptocurrencies. Their vast ATM network accommodates both large and small OTC traders. Compared to other service providers in the exchange business, their minimum option starts at $10,000 to ensure it involves the public. Over-the-Counter trading is less complicated and more comfortable to navigate than traditional exchanges. Most people hardly know how to use online platforms, but with OTC, the process has been simplified into a personalized chat messenger where investors can trade.
It is a suitable method to buy cryptocurrencies as well as access bank transfers without using online platforms or worrying about order books. Traders at the Genesis Block enjoy a personalized experience through simple and easily understood procedures.
Over-the-Counter trading accommodates all sorts of traders from corporate clients to retailers. If you, as an individual, can practice OTC trading as much as other institutes can participate. ICOs are also part of the clientele as they can liquidate funds raised. Ideally, OTC does not discriminate, and whether you are an institute or an individual investor, OTC is another option with different fees and favorable conditions than other exchanges. It accords people various benefits based on who they trade as. Large-scale traders have an impact on the market price such that the entire quantity attracts the same rate. As for retail clients, OTC trading offers a familiar territory where investors can interact with providers physically. It also provides excellent opportunities to learn about crypto. The transaction process is also faster such that clients obtain cash for cryptocurrencies within days.
At the Genesis Block, opening an account at the OTC desk takes two ways. You can either visit their offices or sign-up online. The process is similar for other brokerage platforms as well. The process requires clients to produce necessary KYC documents such as passports. After account approval, a personalized chat group is activated, and you can speak to fellow traders.
You can request quotations through the Chat window, and prices will be forwarded to you. In China, buying Bitcoins via OTC trading means offers favorable rates compared to other platforms. The practice has become a global preference penetrating through countries due to its simplicity and easy access to cash. Foreign traders can also obtain local currencies without hustles.
The bottom line is that Over-the-Counter trading option appeals to an average investor. It is a simplified field with vast opportunities and a wide range of client base. Individual investors and institutes alike can rely on OTC to provide personalized experiences and a chance to interact with the brokerage firm’s staff physically. You can also learn about cryptos without running your own research. Opening an OTC trading account is also easy, and you can do so either online or approach the OTC desk at a reputable agency. Compared to online exchanges, Over-the-Counter provides a traditional yet digitalized experience to small and large-scale traders.