The benefits of trading Over-The-Counter on Huobi OTC

The benefits of trading Over-The-Counter on Huobi OTC

According to reports, the amount of Bitcoin that has been trading over-the-counter (OTC) has been the manifold of the 24-hr trading volume we see on digital asset exchanges. This news is an indication that large buyers are using OTC-brokers to accumulate Bitcoin.

Many large OTC buyers, either personal investors or professional entities, have their own go-to brokers with whom they build a trustworthy relationship to a certain extent. Small to medium OTC traders sometimes have more difficulties finding a trustworthy OTC-broker to trade Bitcoin or other cryptocurrencies. Also, one has to keep in mind that buyers and sellers are paying a big premium to brokers for enabling their OTC transactions.

As Huobi Group is expanding, they recently announced they have added the Vietnamese market to their OTC trading platform. People can trade peer-to-peer using the Vietnamese native fiat-currency, the Vietnamese Dong (VND), to exchange for Bitcoin, Ethereum, Tether or any other available cryptocurrency.

OTC trading on Huobi

Digital asset service provider Huobi Group offers OTC-trading on their own Huobi OTC trading platform. The steps to follow before you are enabled to start buying or selling OTC are fairly simple. After you made and account, or logged in using your Huobi Global username and password, you are good to go. If you are placing an advertisement to sell Bitcoin or other cryptocurrencies you will need to deposit the amount you are selling into an escrow wallet. After both parties agree, the amount will be released and either party will receive their tokens/fiat-currency respectively.

Huobi highly values its customers and provides OTC customers with a 24/7 customer service.

Benefits of trading at Huobi OTC

The benefits of trading at Huobi OTC roughly fall into three categories:

- Users that trade on Huobi Global, Huobi NEXT or margin trade on Huobi Margin can also trade on Huobi OTC, using the same trading account. Hence no more switching between accounts. After you are verified on Huobi Global you will have just one username and password and you are good to go on Huobi Global, Huobi NEXT and Huobi OTC. The entire process from registration to being able to trade on all Huobi platforms will only take 10 minutes, max. One of the key benefits is the fact that users can transfer tokens from Huobi Global to Huobi OTC without paying transfer fees.

- Besides charging no transfer fees, Huobi OTC charges 0% trading fees when trading local currencies to Bitcoin, Ethereum or Tether. For all other currency trades, Huobi OTC charges less than 1%.

- Huobi OTC provides a safe trading platform because the tokens, that are listed in an advertisement, need to be physically in the exchange wallet in order to have the advertisement become definitive. This is initiated to protect buyers and sellers from getting scammed. It’s a safety mechanism to have Huobi be the intermediary and offer protection against ill-intended users.

My personal opinion

If I were to trade cryptocurrency OTC I would definitely consider Huobi OTC as my go-to trading platform for my OTC trades. I really like the fact that Huobi offers a one-stop-shop with their OTC offering included. While competitors usually charge 1–2% for enabling OTC trades, Huobi is doing this mostly free-of-charge and offers interested parties a safe way to trade OTC.

If you do not have a trading account on Huobi Global yet, you can sign up using this link.

For signing up on Huobi OTC you can use this link.

A tutorial on how to make an account on Huobi OTC and start making advertisements or buying OTC, can be found here.

Disclaimer: This article is not intended as investment advice. It is just my personal opinion about Huobi’s OTC platform. You should always do your own research #DYOR. Huobi Global incentivizes me for writing this article and encourages me to express my own opinions.

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