Cryptocurrency OTC Trading Desk Software Development Company
What is OTC Trading Desk?
Difference Between OTC & other Exchanges
- Unlike the crypto exchange platform which involves stock exchange done directly between the buyers & sellers, here at OTC dealers performs transact exchange done directly with their electronic gadgets.
- Dealer performs an exchange whereas in crypto exchange platform exchange is done directly.
- Physical location is not mentioned in OTC.
- Transparency in OTC is low compared to exchanges.
- Contracts are customized as per the dealers whereas an exchange follows standardized customization.
- Stocks are unlisted in the OTC platform but in exchange, stocks are properly listed.
How does an OTC trader make money?
Is OTC markets are really safe?
How does OTC Exchange work?
- Initially signup takes place where the participants of the OTC platform exchange should first pay a fiat currency to the administrator's wallet.
- Account verification is done to ensure they are a verified user or not.
- Next, cash can be deposited into the bank account as mentioned on the deposit page.
- For further verification user must have to submit some proof along with the transaction id.
- Tracking & validation is done by the administrator by ensuring the submitted proof of document is original or fake.
- After the above process is completed then the participants are allowed to trade.
- Here the administrator decides the price value for both buying & selling options.
- User acts accordingly to the price set by the administrator.
- Here the administrator dominates the entire transaction process as the price value is set by the administrator in the admin panel.
How to choose an OTC desk?
- Choosing OTC desk is really crucial, the following steps will guide you on how to choose the best OTC desks.
- Be sure whether you are completely ready to comply with KYC procedures.
- Your sensitive proof of documents should be submitted before the exchange takes place.
- Bigger exchanges like Coinbase, Binance operates OTC desks where your obligation can take place.
- On a smaller scale if you wish to become an OTC deal participant then that's too easy.
- Customer has to submit the following details such as their professional email id & other basic information for the further communication process.
- Be careful if you are working with broker assistants by examining each and every fee charged for the transaction.
- Based on the volume of the trade the prices will differ accordingly.
- Hire for personal assistance in your time zone that will solve the problems faced at the time of finding for a service who provides insurance to traders or not.
- One of the essential steps that you shouldn't miss is nothing but constantly checking reviews.
- Google will help you whether he/she has prior knowledge in OTC trading and you spot out their areas of experience as well.
OTC Trading Impacts Made On Current Market Place
Image Source: Skew
Top Ranked OTC Desk In Crypto Marketplace
- Genesis Trading
- Coinbase Prime
- Kraken's over-the-counter
- DV Chain
- Bitpanda Plus
Benefits of OTC Pro Trading Platform Development
- Customizable and project delivered as per Client’s needs.
- KYC Verification for Users.
- Safeguards transactions with escrow services.
- Eye-catchy Custom UX/UI Themes.
- High Configurability Perk.