Earlier the previous day, the crew at Binance introduced that that they had opened an Over-the-Counter (OTC) buying and selling table to offer further liquidity for his or her high-volume customers. The tweet making the announcement additionally referenced the just lately concluded Binance blockchain tournament in Singapore that ran from the 19th to the 22nd of this month.
— Binance (@binance) January 22, 2019
More About the OTC Trading Desk
The alternate has since provided additional information in regards to the OTC buying and selling table at Binance. To start with, the brand new carrier will likely be crypto-to-crypto and can permit Binance customers to industry greater quantities of the a lot of cryptocurrencies at the alternate. Transactions will likely be settled without delay on their Binance accounts.
The OTC buying and selling table will permit high-volume investors to avoid wasting time via clearing their trades at one pass. All trades can be non-public and the order books may not be touched. As previous discussed, all settlements will likely be be carried out the use of the person’s account and there will likely be little need of extra wallets.
The crew at Binance has additionally defined why their OTC table is best than the remainder within the trade. They defined it as follows.
Here are a few of our benefits:
1. We focus on crypto-to-crypto trades, throughout greater than 80 cryptocurrencies indexed on Binance.
2. We continuously enterprise to supply fast pricing in your OTC trades, with easy and fast agreement processes.
3. We have a wide and numerous shopper base as an efficient distribution platform.
Requirements Needed to Access the OTC Trading
At the instant of penning this, there are most effective two necessities.
- The Binance person has to have a Level 2 verified account or above
- Each industry must be value no less than 20 Bitcoin (BTC)
All people and corporations are asked to touch the Binance OTC table without delay at [email protected].
Other Cryptocurrency OTC Trading Desks
The transfer via Binance to open an OTC buying and selling table comes after a number of different distinguished exchanges embraced the concept that wholeheartedly. Other notable exchanges providing OTC services and products are Bittrex, Coinbase, OKEx, Huobi, Circle, itBit, Kenetic Capital, Genesis Trading and SFOX.
What are your ideas on Binance launching a crypto-to-crypto Over-the-Counter buying and selling table for its purchasers with a Level 2 verified account or above? Does this imply that there are ‘whales’ and institutional buyers making an access into crypto? Please tell us within the remark segment beneath.
Disclaimer: This article isn’t intended to provide monetary recommendation. Any further opinion herein is solely the creator’s and does no longer constitute the opinion of Ethereum World News or any of its different writers. Please perform your personal analysis ahead of making an investment in any of the a lot of cryptocurrencies to be had. Thank you.
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