WHAT OTC BITCOIN ENTAILS 2022

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WHATS BITCOIN OTC (OVER-THE-COUNTER) TRADE?

Over-The-Counter or OTC Trading in a framework of financial technology and more precisely, within the crypto and Bitcoin space, is a private deal for buying or selling crypto. The transaction processes involved with such trade are not regular as there are considerable variations at different levels depending on the actors of the exchange and the market forces of each period. As such, this provides increased privacy for both buyers and sellers, making OTC highly intimate and individual.

Generally, OTC traders maintain a varied network of crypto investors and crypto sellers. In a bid to satisfy their customers, OTC traders are constantly in search of buyers and sellers, willing to trade at good prices. Moreover, their consistency, interactions and speculations make them capable of detecting the best time to conduct a given transaction. Thus, once buyers or sellers place their orders, the OTC trader endeavours to purchase the assets needed to carry out a requested transaction.

Crypto OTC is simply the trading of crypto assets directly between two parties. This literally paints a picture of two persons involved in a negotiation. On the one hand, there is one person available to sell assets at a given price. And on the other hand, there is the other person, willing to buy assets at a given price. Trade occurs when both parties agree on the price of the trade or exchange for which they are united. A trade can be crypto-to-crypto (For example swapping Bitcoin with Tether) or fiat-to-crypto (For example swapping XAF or Rand for Bitcoin and vice versa). Whether crypto-to-crypto or crypto-to-fiat, the need for a “desk” to effect the transaction is imperative. Desks are simply professional platforms that deal with crypto buyers or sellers directly. They could be Principal or Agency.

WHY USE A CRYPTOCURRENCY DESK

Buying or selling large amounts of crypto is the most difficult thing faced by crypto merchants. Let’s presume that you want to buy 1000 BTC. First of all, it will be challenging to get all that amount from one seller all at once. If you attempt to buy from one seller, chances are that all the assets won’t be gotten at the same price because fulfilling a large amount of order on a single exchange will take time and market volatility will influence the price.

WHEN DO YOU USE CRYPTO OTC TRADING INSTEAD OF CRYPTO EXCHANGES

Traders who use OTC prefer it over exchanges because of the privacy and high liquidity. If you do trade large amounts on exchanges, you could make an impact on the market. If you use an OTC trading desk, since the transaction is direct between two parties, it will not show up in an exchange order book. You also have a better chance of your order being filled in one go at the price you want. In an OTC transaction you are dealing with one counterparty on the other side of the trade, on an exchange there are hundreds if not thousands of traders on the other side, all of whom have a different perspectives and preferences on price.

If you place an order of high volume on an exchange the market could move against you, preventing you from getting the best price for your asset and greatly jeopardising the trades efficiency.

WHY DO CRYPTO OTC DESKS EXIST?

OTC crypto trading desks cater to traders looking to execute high volume transactions that would not be suitable for exchanges. OTC desks offer a more tailored and bespoke trading service when compared to exchanges.

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