14 Bitcoin OTC brokers you need to know. You don’t have to go into the OTC brokerage marketplace blind, though: we’ve rounded up info on 14 of the better-known OTC brokers for you to explore. As an important note, reference to any firm is simply for convenience, and is not an endorsement by SFOX — always check out firms on your own. Whether you are trading blocks of $,, €10,, or 2, Bitcoin, the OTC desk will provide you with execution and settlement services that are discreet, secure and ultra-competitive. Features offering more than secure and discreet transactions and settlement. Built for Easy & Secure OTC Trading We created RockItCoin with an emphasis on ease-of-use, secure, and high touch relationships. RockItCoin OTC trades all Alt coins including Bitcoin, Bitcoin Cash, Ethereum, Litecoin and Ripple. Learn more about OTC Trading With RockItCoin.
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You can choose whether to accept the price quotation or not. If you agree, the trade is immediately confirmed and the trade will provide you with a deposit address. Once the deposit is received, the order is no fully executed and you will receive your trade.
We compiled the list of the biggest OTC brokers around the world. Bitcoin OTC brokers play a very important role in China due to a government ban on cryptocurrency exchanges. They operate by directly connecting buyers and sellers of Bitcoin.
To reiterate, Alipay closely monitors over-the-counter transactions to identify irregular behavior and ensure compliance with relevant regulations. If any transactions are identified as being related to bitcoin or other virtual currencies, Alipay immediately stops the relevant payment services. One of the biggest concerns of OTC brokers and trading is the risk of exposure to criminal funds. This is because OTC desks who do not perform proper due diligence on source of funds can come into contact with tainted coins.
In a report, cryptocurrency research company Chainalysis released a report on money laundering in the exchange and OTC space. The report accused some OTC desks of illegally taking laundering funds for private clients. In order to protect yourself from such activity, ensure you are trading with legitimate brokers who have proper KYC. Will OTC brokers accept cash? Often OTC brokers will have a cash option — for both buying and selling Bitcoin. On top of this, proof of funds may also be requested.
Do OTC brokers require my Identity? To comply with anti-money laundering laws, OTC brokers will require you to submit official documentation such as Identity, Proof of address, bank account statements, proof of income or proof of funds.
Is there a Bitcoin Limit? Most OTCs do not have a maximum limit on the amount of Bitcoin you can buy or sell.
Order sizes of or above BTC are common place for these brokers. How do I buy Bitcoin Anonymously Privately? The best way to buy Bitcoin without a record is via cash or peer-to-peer transactions. Are there OTCs for Altcoins? There are OTC services for altcoins and even coins that are not yet listed on exchanges. These OTCs will function similar to a matchmaker — matching sellers and buyers of a particular asset.
One such example is Silverway — an OTC deal platform and deal aggregation platform. How do I find out the volumes handled by OTCs? OTCs are no obliged to provide trading data such as daily volumes, prices or order books.
However, some OTCs provide annual reports or blog posts which contain aggregated volume data. How does OTC broker actually trade the coins? Why when a large OTC transaction happens the price of the coin moves on all exchanges at the same time and the same level? Save my name, email, and website in this browser for the next time I comment.
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Name: Circle. Location: USA. Fees: 0. Register: Join Now. Rating: 4. Name: Binance OTC. The marketplace is located in bitcoin-otc channel on the freenode IRC network. If you don't have an IRC client, click here to visit the channel with your web browser. All transactions that may occur are conducted directly between counterparties, without any participation or intermediation from bitcoin-otc. As such, it is each individual's responsibility to conduct due diligence on their counterparties, and otherwise act in a prudent way to avoid falling prey to fraudulent users.
It is strongly recommended that all users review the guide to using bitcoin-otc , which contains a non-exhaustive list of suggestions for safe conduct on bitcoin-otc. The OTC web of trust is not foolproof. Do not rely on the ratings blindly - since the cost of entry into the web of trust is only one positive rating, it is not impossible for a scammer to infiltrate the system, and then create a bunch of bogus accounts who all inter-rate each other.
Talk to people on bitcoin-otc first, make sure they are familiar with the person you're about to trade with, have traded with him successfully in the past, etc. Visit our sponsors:.