In simple words, you can imagine OTC (over-the-counter market) as a shop for instant buying or selling cryptos. You go in, you say that you want to purchase e.g. 2 BTC, the shopkeeper tells you how much it will cost and you decide whether to go for it or not. And it really is that simple on our cryptocurrency trading platform too!
So how to access the OTC market on CoinDeal?
- Go to the OTC page here: https://frontend.coindeal.com/otc/otc.html
- Specify if you would like to buy or sell the chosen crypto
- Provide the amount
- Press the ‘Request a quote’ button
- The offer will appear immediately and you will have 10 seconds to decide if you want to take it or not
But why would you use OTC service for a transaction that has its dedicated market on CoinDeal? Here are the advantages:
- Liquidity – sometimes the market simply does not have the amount of crypto you want to purchase
- Price – once you receive an OTC offer, you can be sure that the price will not change and you are getting exactly the amount you want for the price you see. We make sure to always give competitive prices. Therefore, even if it’s a bit higher than the current lowest on the market, you receive a flat rate no matter how big is your purchase and you do not have to worry about having to overpay (e.g. due to the market not being deep enough for your needs)
- Anonymity – for many this is still the most important reason to support the crypto world. If you are in need of a quick sale of you crypto-savings and want to remain possibly the most discreet about it, this is a way to go
- 0% Fee – CoinDeal does not charge any extra fees for this service
- Immediate availability – funds will be added to your CoinDeal wallet within minutes
What else is important?
- OTC transactions are not made between users but between a user and CoinDeal (and CoinDeal uses external liquidity providers)
- Your transactions do not influence the market price (so there are no worries that a big purchase will change the market and its liquidity)
- You can buy as little as 0.001 BTC and as much as 5 BTC within one transaction
- To use our OTC service you need to either have 20 000 CoinDeal Tokens in your CDL wallet, or to become a Premium member
- Our goal is to have several cryptos (BTC, ETH, LTC, XRP, BCH, EOS) and FIATs (EUR, USD, GBP, CAD) available to make transactions with