Do you understand these characteristics of OTC payment?

2021-01-25 News

OTC refers to Over-the-counter (over-the-counter trading). Simply put, the service provided by the OTC payment platform is similar to "digital currency Taobao." Users can freely display their digital currency assets in the OTC area and conduct peer-to-peer legal currency transactions with people all over the world.

For example:

Suppose you want to buy 1 Bitcoin. There are two ways:

Directly choose the seller with the cheapest current price, and directly trade one-to-one (try to choose a seller with a large transaction volume and a good reputation).

You can publish an advertisement directly, and fill in the price you want to buy in the advertisement. When a seller is willing to accept your price, the seller will contact you on the platform and complete the transaction.

What are the characteristics of OTC payment platform?

  1. There are many varieties of virtual currency, and all those recognized by the market (currency) can be traded here;
  2. It is a relative market, non-listed, freely negotiated price;
  3. It is an abstract market without a fixed place and time.

The advantages of OTC payment are also very prominent. Here is a list of them:

  1. Simple transaction: implement point-to-point transaction method. You can summarize transaction needs on the platform to facilitate everyone's transaction
  2. The identity verification of the buyer and the seller is more secure
  3. When there is a dispute, you can submit an appeal and the platform can come forward to resolve it
  4. You can buy a large number of digital currencies with locked prices at one time: For example, if you want to buy 10,000 coins, you will not be able to receive them in the short-term exchanges such as Binance and Huobi, and the price will be very high. However, the point-to-point transaction method of over-the-counter transactions can lock the price and complete the transaction at one time.

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