In the world, there are so many people who are trading their Bitcoin over the counter on a daily basis. In fact, there are more than $11 billion worth of crypto assets that are traded on a daily basis on exchanges. However, the $11 billion doesn't account for the over-the-counter (OTC) trade exchanges that occur on a daily basis. Through this article, you will garner some facts about Bitcoin OTC broker.
First and foremost, there is need to examine and understand what Bitcoin OTC trade or trading is. Basically, OTC trading involves tycoons and deep pocketed investors trading Bitcoin amongst themselves rather than dealing or trading on exchanges. In other words, the rich individuals or persons tend to buy and sell Bitcoin amongst themselves through the use of OTC brokers. The reason why investors prefer dealing with OTC brokers is due to the volatility of the exchanges.
Basically, the investors using the Bitcoin OTC broker are prone to have millions of their money in Bitcoin. Generally, there are ticket sizes for these OTC brokers and they commence at $ 75,000 all through to $250,000. However, there are instances when these ticket sizes are at millions of money.
There are so many people who are eyeing at trading using the over-the-counter broker. However, there is a limitation as only the people with deep pockets are able to trade using the OTC brokers. Different brokers have their different rules and regulations which you must adhere to. Also, there is a minimum amount of money that will earn you your entry into the OTC trading platform. Additionally, you will have to avail certain papers that help support your identity. The reason why majority of the brokers will ask for prove of identify is to keep a clean trading platform. There are canning persons who will use illicit money and funds to trade and this might ruin the entire brokerage.
Once you have been registered or you are entered into the OTC platform by a certain Bitcoin broker, you will be able to sell and buy Bitcoin. Generally, the broker is responsible for helping you identify a buyer of your Bitcoin or by identifying the available Bitcoin for sale. Take for example where you are selling 200 Bitcoin for $13,000. The broker will have to announce or inform all the prospective buyers about your sale and the asking price. The buyers who are interested will negotiate the price until you reach an amicable ground or price that suits both parties. The summative Bitcoin for sale can be bought by one person or several persons.
