Legit Crypto OTC Trading Platform to Use for High Volume Trades

OTC trading, otherwise known as over-the-counter trading, is a specialized trading arrangement where trading financial assets is allowed outside the regular exchange. While it is popularly known in stock trading, it is not only meant for the traditional stock market and has evolved to accommodate crypto OTC trading. 

Below, we will discuss OTC's meaning, its overview, and how to carry out a successful OTC trade on a legit crypto OTC trading platform. This is important because many have lost their money online because they do not know how to spot legit OTC trading platforms. 

By the end of this article, you will be able to never lose money again to a fraudulent crypto OTC trading platform and be able to choose a legit crypto OTC platform. Hence, you will never have to experience undue delays again.

OTC Trading Overview

Over-the-counter trading is a type of financial framework that favors an automated exchange. In other words, it is manually carried out and favors traders that want to execute high-volume trades at a fixed rate or quickly.

The OTC trading market has had many misconceptions over the years. Some of them include OTC trading revolving around big off-market deals. In reality, over-the-counter trading is not meant only for the rich. Middle and amateur traders also comprise much of the OTC trading domain. 

One also has to point out what drives the OTC market. A comment made by an OTC payments manager at a Singapore-based exchange explains the drive behind the OTC sectors. 

According to him, " a big driver of OTC is that it allows a buyer to deal with larger amounts of cryptocurrencies, such as 5, 10, 20, and 100 BTCs from one seller at one agreed price easily, as compared with buying over an exchange at different prices."

However, it is important to note that a legit OTC trading platform is essential for an over-the-counter trade to succeed. 

OTC Meaning: All You Need To Know

OTC's meaning is quite simple, unlike what most people make it seem overly complicated. Over-the-counter trading is a type of trading that does not involve an automated crypto exchange; all you need is a private deal between you and a buyer. 

To understand this better, assume regular crypto trading is like using your ATM card for small withdrawals. In contrast, OTC trading involves you going into the bank to withdraw tens or hundreds of millions of your money in cash at once, quickly and securely.

What Makes Crypto OTC Trading Unique

If you want to know how to trade bitcoin using an over-the-counter method, it involves only personal deals over selected commercial trade desks like Yellow Card.

One of the significant benefits of OTC trading is that it has little or no impact on the market prices, and there is a high level of privacy. 

The core OTC meaning specifies that it is private and a more desirable way to tease cryptocurrencies, especially for "whales" or high-volume traders who want to avoid being impacted by heavy price drops. 

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 OTC 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 cryptocurrencies with any OTC trading platform that lacks transparency. 

Even though the nature of the business is private, an OTC platform that is not transparent with 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:

Personalized Service 

One of the benefits of learning how to trade bitcoin using a legit crypto OTC method is that you get a personalized 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, i.e., the price of bitcoin in the general market can be $19,000, and you sell high volumes at $20,000 per unit.

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 Crypto Commercial Trading Platform

It can be essential to know how to trade Bitcoin and other cryptocurrencies 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, along with a confirmation email to your inbox, and the trade is complete.

Read More: How To Buy Bitcoin in Nigeria

Your Crypto OTC Trading Experience 

All Yellow Card regions have Commercial trading desks in operation. Trade at excellent prices and rates with our largest African markets, including Ghana, Cameroon, Uganda, and South Africa. You can make a minimum transaction of $50,000 in each market.

The satisfaction of our customers is what makes Commercial Trading at Yellow Card special. Customers can purchase as much USDT, Bitcoin as their wallet will let them with Yellow Card, with no restrictions. This is made possible because our team of knowledgeable traders treats your requests as if they were their own and handles them with the integrity and professionalism necessary to keep you happy and amazed.

Start Crypto OTC Trading Now