Legit Crypto OTC Trading Platform to Use for High Volume Trades

OTC trading, or over-the-counter trading, is a specialised way of trading assets directly between two parties, outside of the usual exchanges. While traditionally associated with stock markets, OTC trading has expanded to include digital assets, making it particularly beneficial for those engaged in high-volume crypto trades.

In this article, we will explore the meaning of OTC trading, provide an overview, and guide you on how to successfully trade on a legitimate crypto OTC platform. Understanding this is crucial, as many have lost money to fraudulent platforms. By the end, you'll be equipped to identify and use a secure, reliable crypto OTC platform, avoiding unnecessary delays and risks.

OTC Trading Overview

Over-the-counter trading (OTC) is a financial system that favours manual transactions over automated exchanges. It is ideal for traders executing high-volume trades at fixed rates or quickly. While often associated with large off-market deals, OTC trading is accessible to both experienced and novice traders.

It's essential to understand the driving forces behind the OTC market. As highlighted by an OTC payments manager from a Singapore-based exchange, the appeal of OTC trading lies in its ability to facilitate large cryptocurrency purchases—such as 5, 10, 20, or even 100 BTC—from a single seller at a fixed price, unlike exchanges where prices can vary.

However, the success of OTC trading heavily relies on choosing a legitimate OTC trading platform.

OTC Meaning: All You Need To Know

OTC trading is often misunderstood as complex, but it's actually quite straightforward. Unlike automated crypto exchanges, over-the-counter trading involves direct, private transactions between two parties. To illustrate, think of regular coin trading as using your debit card for small withdrawals, whereas OTC trading is akin to walking into a bank to withdraw large sums of cash securely and efficiently. However, for OTC trading you don't have to go to the bank directly, with the right partner it can even be more seamless than making a transfer on your phone.

What Sets Crypto OTC Trading Apart

If you're interested in trading Bitcoin using the over-the-counter method, it typically involves direct, private transactions conducted through specialised commercial trade desks, such as Yellow Card.

One of the key advantages of OTC trading is its minimal impact on market prices. This, coupled with a high level of privacy, makes it an attractive option for large-scale transactions.

OTC trading is inherently private, providing a more strategic option for high-volume traders, often known as 'whales,' who wish to minimise the risk of significant price fluctuations during substantial transactions.

Read More: What is Crypto OTC Trading and How Does it Work?

What Makes a Crypto OTC Trading Platform Legit (Features and Benefits)?

The Crypto OTC trading platform has had a shady reputation over the years. This is mainly because of the private nature of the business; one can take another person's money without being traced on many poorly managed crypto exchanges. 

Taking a person's money during an OTC transaction may also not be obvious, as a lack of price transparency can lead to losses. 

However, there are features that you can use to identify a reliable over-the-counter crypto trading platform. 

OTC Platform Reviews:

Customer reviews are one of the best ways of discovering the hidden truth about any business, the same with legit crypto OTC trading. 

As you are learning how to trade cryptocurrency using OTC methods, it is essential to read an unbiased review from the previous customers of an OTC business. 

A legit crypto OTC trading platform is supposed to have positive reviews from its previous customers. 

OTC Platform KYC Forms:

An OTC trading platform that requires its customers to fill out a Know Your Customer (KYC) form is among the features that often determine whether an OTC trading platform is legit. 

People learning how to trade bitcoin with this platform are often interested in knowing how to point out legit crypto OTC trading platforms, and this is one fact that makes the Yellow Card Commercial Trading desk special. 

Most of the time, not guaranteed, scam OTC trading platforms don't bother to mandate their customers to carry out a KYC process. 

OTC Process Transparency: 

It is recommended that you don't trade your digital assets with any OTC trading platform that lacks transparency. 

Even though the business is private, an OTC platform that is not transparent about processes and prices and does not have a sound customer service system is not good. 

Read More: How to choose the right crypto exchange for trading

Benefits of a Legit Crypto OTC Trading Platform 

Here are some of the benefits of trading your cryptocurrencies with a legit crypto OTC trading platform:

Personalised Service 

One of the benefits of learning how to trade bitcoin using a legit crypto OTC method is that you get a personalised service that suits your personal and business needs.

An OTC platform is not concerned with the activities of the regular market. Instead, it is an individual broker-dealer situation. 

Low Transaction Fee 

The transaction fee you pay while using a legit crypto OTC trading platform is much lower than when you use regular crypto exchanges.

The percentage of transaction fees required to be paid on a normal crypto exchange is often higher than using over-the-counter crypto trading for high-volume trades. 

Anonymity 

One of the significant advantages of using OTC to trade cryptocurrencies is the level of anonymity maintained in the transaction. 

Unlike the typical blockchain transaction, OTC trading does not have all the information involved in a trade made public. 

High Liquidity 

One of the disadvantages of crypto exchanges for "whales" is that it is often hard for them to carry out a single trade involving vast amounts of money, especially after a hugely successful trade in the crypto market.

This is not the case for over-the-counter trading. Once you agree on the price and number of cryptocurrencies, there is enough liquidity to carry out a single significant transaction. 

How to trade Bitcoin with Yellow Card Legit Commercial Trading Platform

It can be essential to know how to trade Bitcoin and other digital assets using OTC. Below is a guide on trading cryptocurrencies such as bitcoin using an over-the-counter method. 

Trading Bitcoin using OTC directly involves the buyer and seller. Going by our OTC meaning, it does not have to involve any automated crypto exchange. 

So, assuming you want to trade your USDT with the Yellow Card OTC platform, this is what the whole procedure will look like:

1. Account request: Get started by simply filling out a simple request form.
2. Complete KYC: On the limits tab of your YC account, upload the required documents to increase your limits.
3. Request a quote for your grade: We will connect you to one of our expert traders to provide a quote per your request.
4. Confirm trade: You choose whether or not you wish to buy at a price offered. If you agree, the trade is confirmed, and the trader will ask for your transaction details (fiat or crypto). After confirming the trade, wait for a confirmation of the transaction via email. In this email, you’ll find payment instructions for the OTC bank account, where you will make the payment.
5. Complete trade: Once Yellow Card Commercial Trading Desk receives the transaction, our trader will send the assets to the specified wallet address and a confirmation email to your inbox, and the trade is complete.

Read More: How To Buy Bitcoin in Nigeria

The Best OTC Trading Experience 

Yellow Card operates Commercial trading desks across all its regions, offering competitive prices and rates in major African markets such as Ghana, Cameroon, Uganda, and South Africa. Clients can engage in transactions starting from a minimum of $50,000 in each market, ensuring substantial and secure trades.

What sets Commercial Trading at Yellow Card apart is our commitment to customer satisfaction. We offer our clients the ability to purchase unlimited amounts of USDT and Bitcoin thanks to our team of expert traders who handle every request with the utmost professionalism and integrity. We treat your transactions with the same care as our own, ensuring a seamless and rewarding trading experience.

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