What is OTC Trading on Mybitstore?
In the context of Bitcoin and cryptocurrency, Over-The-Counter (OTC) Trading on Mybitstore refers to private transactions for buying and selling cryptocurrency directly with Mybitstore. There is no ‘’public order book ‘’because these trades are not done on normal exchanges. On Mybitstore’s OTC structure, both buyers and sellers benefit from the improved anonymity.
The secrecy and limited impact on market prices are the most appealing features for OTC users on Mybitstore. The OTC market is designed for traders who want to acquire or sell significant sums of cryptocurrencies. If these large sum traders were to buy a substantial amount of crypto on an exchange, slippage would have a significant influence on their transaction. For high-net-worth individuals wishing to make significant deals, Mybitstore’s OTC trading is an attractive choice.
How Does Mybitstore’s Over-the-Counter Trading Work?
Mybitstore’s OTC is a bespoke and intimate service by definition. Mybitstore manages a network of cryptocurrency buyers and sellers. Furthermore, Mybitstore has a stock of several cryptocurrencies on hand to match demand at any given time.
Mybitstore is always aware of who is buying and selling, as well as the optimal moment to complete a transaction. When a buy or sell order is received, the broker will obtain the cryptocurrency or fiat required to complete the deal.