- Created: 20-09-22
- Last Login: 22-09-22
Description: Crypto exchanges or platforms have popped up worldwide with the popularity of cryptocurrencies and blockchain technology. At present, we have huge trading platforms operating globally, such as FTX, KuCoin, and Binance. However, some cryptocurrency trades take place without visiting any traditional exchange. Such trade is known as OTC trading, which exists as stand-alone trading desks or as an exchange such as Binance. Simply put, OTC or ‘Over the Counter’ trading can be referred to as trading through people or agencies that conduct all your transactions for you, secluded from regular platforms or exchanges. You can choose OTC trading if you do not want to purchase, trade, or sell crypto coins through the mainstream. OTC trading offers high transaction limits, better privacy, and a getaway from market fluctuations. How Does an OTC Trading Platform Work? There is no standard procedure for OTC trading. The sole constant is the absence of a user interface, which frequently occurs in regular exchanges. OTC Trades are usually conducted based on trust, in which a requirement is posted, a quote is provided, negotiations occur, and finally, the transaction is accomplished upon the consent of all parties. Sometimes, only one person acts as a third party, and when greater quantities are involved, an agency may take up the responsibility of bringing together sellers and buyers. OTC agencies facilitating trade have their own reserves to guarantee instant liquidity in fiat and any other underlying cryptocurrencies. The process of OTC crypto trading platform sign-up is easy and challenging at the same time. The process is easy as several OTC agencies exist across geographies. It is challenging because the process relies on trust- you must be able to trust someone with vast quantities of cryptocurrencies, not to defraud you. Luckily, you can trade a great number of crypto coins without breaking a sweat because there are numerous mainstream crypto platforms that offer you an OTC desk. The Advantages and Disadvantages of Using an OTC Trading Let us take a look at the benefits of using OTC trading. Direct transaction: OTC enables you to purchase cryptocurrencies directly from the seller or sell them directly to the buyer, thereby eliminating third parties that drum up the prices of the assets. Evading fluctuations: OTC trades allow you to negotiate and agree on a price before buying or selling all of the tokens simultaneously. Because the market is unaware of the transactions, it will not impact the token’s price. Negotiation: Have you ever wondered about the last time you negotiated the prices via an exchange? For your information, you are not allowed to do that. All you can do is set price alerts and buy or sell options with the price of your choice. With OTC trading, you get the chance to negotiate a price based on external factors to attain an agreement. The drawbacks of OTC trading are minimal but significant, beginning with trust. Well-known exchanges are supervised by authorities which removes the possibility of cheating and rug pulls, while OTC trades are completely uncontrolled or unregulated. If an OTC agent plans to cheat and flee after you have put your trust in them, there is no way to recover your money back. So now, to make you know more about OTC trading, we would like to introduce Coinfloww, a global digital assets platform where you can trade easily and at a lower price. All About Coinfloww Coinfloww is supported by a regulated cryptocurrency OTC firm that has been offering the best volume and prices since 2019. The exchange was launched during the bear market of 2022 with an aim to make digital assets more accessible and freer to users across the world. The best thing about Coinfloww exchange is that it does not charge the listing fees for the projects listed on the exchange. Also, barriers of entry are quite low for you to easily list and trade on the platform. If you wish to contribute to the future of the digital economy, then join Coinfloww’s journey and experience a more fair, efficient, accessible, and transparent financial system empowered by distributed ledger technologies. Wrapping Up In all fairness, legitimate OTC agencies do exist that have been operated for years. But you must always be careful and conduct diligent research before trusting any OTC agency. Using OTC is time-consuming and functions well when there is a high level of trust. Specifically, features of a trustworthy OTC stem from the accountability to which they hold themselves and the people using their services. If you are planning to trade great volumes of crypto for cash or fiat money for crypto, then Coinfloww is the best platform for you which can save all your money and time, helping you to trade more conveniently. For more updates, you may browse Coinfloww, stay tuned for the latest information.
Publish Date: 22-09-22
Description: Since the introduction of Bitcoin over a decade ago, cryptocurrency trading has exploded. You now have thousands of cryptos and hundreds of platforms to trade. The rise in the popularity of cryptocurrencies has given rise to the inception of cryptocurrency exchanges across the world. Before the creation of crypto exchanges, people used to obtain Bitcoin only via mining or by transacting in an online medium. But now, following the advent of crypto exchanges, receiving Bitcoin and any other cryptocurrency has become quite easier but potentially more susceptible to scams. In simple terms, these crypto exchanges are digital marketplaces in which you can sell, buy or trade cryptocurrencies of your choice. However, the world of cryptocurrency is becoming extremely vast, and numerous cryptocurrency companies are coming up with new trading platforms. Therefore, you may get lost and confused about choosing the best among them. Top 5 Crypto Platforms Everyone is aware of the current crypto market situation, which is in chaos. Also, the plummeting crypto market hampered the condition of crypto businesses. However, the crypto market is recovering, and it has been speculated that it will help in the progress and recovery of crypto trading platforms. Let us look at some of the best crypto platforms you can opt for. Binance Binance is the huge crypto exchange in the world that is seeing a recent surge in users, thanks to the increasing effect of inflation. The leaders of the exchange have stated that the rise in inflation in the global markets has prompted customers to opt for crypto as their security assets, which is eventually assisting Binance to improve from financial losses. Coinbase Coinbase is so far the most popular and considered one of the best crypto trading platforms as it allows you to invest directly with USD. In the exchange, you can currently buy Litecoin, Ethereum, Bitcoin, and more than 30 other crypto coins and tokens. You also get the chance to earn interest on your USDT and earn token rewards by accomplishing different tasks. Kraken Founded in 2011 and located in San Francisco, Kraken is one of the pioneer crypto exchanges. Kraken has two million+ clients and supports around 190 nations. It is one of the reliable and efficient crypto trading exchanges to look for at present. Voyager Voyager is one of the well-known crypto trading platforms in which you can invest in your favorite cryptocurrency and is one of the first exchanges which is traded publicly. The exchange is app-driven and provides a commission-free trading framework. Pionex Pionex is another prevalent crypto exchange that has incorporated trading bots. The platform gives access to 12 exclusive kinds of trading bots to its investors, involving no extra fee. Through these bots, they can automate their investment methods so that they do not have to monitor the market regularly. You can get hundreds of crypto trading platforms where you can buy and sell cryptocurrencies. With numerous features, you may get perplexed as to which is the most trustworthy exchange and app. Whenever you shop around for the best crypto platform, always consider features such as security, accessibility, fees, wallet, mobile apps, rewards, and liquidity. By considering these aspects, you can properly prepare yourself to find the appropriate crypto exchange for you. You can begin your crypto journey with Coinfloww, a platform with sophisticated safety and security measures built to protect your digital assets from risks. Who is Coinfloww? Coinfloww exchange is supported by a regulated OTC trading business. You can carry out several activities on the platform apart from trading digital assets. With Coinfloww, you get preferential transactions and viable VIP rights. With an aim to remove all your worries concerning security, Coinfloww is committed to offering you radical security and transparency about how to store and manage all your funds with the use of multi-sig wallet technology backed by Fireblocks. The Key Takeaway If you have planned to trade cryptocurrency in order to get quick returns, it is advised to conduct intense research and comprehend the ropes. The simple mistake of choosing the wrong crypto trading platform may wipe out all your income. Failure to trade vigilantly can put your investment at risk and make it difficult for you to yield profit from trading cryptocurrency. Join Coinfloww if you are looking for a fair and transparent financial system supported by distributed ledger technologies. For more updates, you may browse Coinfloww’s website, and https://linktr.ee/coinfloww stay tuned for the latest information.
Publish Date: 22-09-22