According to the report, the OTC crypto exchange market reached $250 million and $30 billion per day by 2018 and is expected to reach more in the future.
For those who are looking to make a tremendous profit through the OTC crypto exchange platform, then you ought to know some of the essential information about the platform.
Searching for an ideal aide? Then, this blog serves as an ultimate guide. This blog will cover you with all the important data that incorporates work process, differentiation, and furthermore gives you the additional reward tip at the base.
What is the OTC crypto exchange?
OTC is abbreviated as Over the counter. The basic idea behind OTC services is to allow users to conduct high-volume trading with the most aggressive securities without having to worry about financial institutions or other formal exchange platforms interfering. This means that the entire trading process takes occur in a secure yet decentralized environment, eliminating the need to go through public order books entirely.
Still, confused? Let me differentiate OTC crypto exchange platforms vs other crypto exchange platforms.
Difference Between OTC Crypto Exchange Development & other Exchange Development:
OTC crypto exchange development
Trading will be done with a bulk amount of cryptos.
Trading will be done 24/7.
Customization is done based on the admin or dealer.
Other crypto exchange development
Done only with a limited amount of cryptos
Trading will be done only in exchange hours
Let us move on to the next section on the work process of OTC
crypto exchange platforms,
How do OTC crypto exchange platforms work?
You must first register and deposit a certain sum of money into your wallet.
If you wish to trade a large number of bitcoins, you'll need to provide all of the required onboarding documents, such as a government ID, proof of residency, proof of income, and other important paperwork.
Then, the admin will verify your documents whether they are suitable for a high amount of bitcoin transactions or not.
Deposit some of your funds in the bank account listed on the deposit page.
After you've completed the aforementioned steps, you'll be able to buy and sell bitcoins at the OTC desk.
The price of bitcoins for both buying and selling will be entirely determined by the exchange's admin.
If you agree with the bitcoin price specified by the admin, you must wait for an email confirmation of the bitcoin transaction.
You can notify the funds using the instructions in this email for the OTC bank account.
When the admin receives the instructions, then the admin will transfer bitcoins to your crypto wallet address along with a confirmation email.
Then, the over-the-counter (OTC) trade will be completed.
Top reasons to invest in OTC crypto exchange
We've compiled a list of some of the most compelling reasons to invest in an OTC crypto exchange. Let's have a look,
Because of its modular architecture, this platform will have a lot of scalabilities. It can handle numerous cryptos, has an API layer, customized features, regular upgrades, and so on.
Ease in doing business
The OTC crypto exchange platform is a money-making business concept that provides several advantages.
The OTC exchange platform's security system includes secure transactions, two-factor authentication, and so on. Thus, as a result, no hacking or other fraudulent acts are possible.
Security Features of OTC Crypto Exchange Development
OTC crypto exchange platforms primary priority is security, so we built an OTC trading platform with enhanced security features. The following is a list of security systems available through our premium OTC crypto exchange development service.
Verification with two factors
Encryption of databases
Software that protects against phishing
Vaults with several signatures
Browser security detection
Encryption from end to end.
Benefits of OTC Cryptocurrency Exchange Development
The following is a list of benefits that you can receive from a top-notch OTC crypto exchange development.
Verification of KYC and auditing of transactions
Solutions that can be tailored to your company's needs.
Escrow services will protect cryptocurrency transactions.
Custom UX/UI Themes that are appealing to the eye.
Perk with a lot of customizability.
High-end protection systems ensure data security.
Users can easily manage their crypto holdings.
Users will be able to use numerous cryptocurrency wallets.
Cyberbullying and other malware-related actions are no longer tolerated.
Reduces the risk of a competitor.
Account security is provided through an integrated cold wallet storage type.
The user interface is sleek and quick to set.
Continous technical and customer support is available.
Different types of over-the-counter (OTC) trading
Dealer, Trader - The dealer and trader are trading with their own money in this sort of OTC trading. Alternatively, they could be trading on behalf of someone else using their own account. Buyers and sellers connect in such OTC trades using private, public, and broker-specific chat rooms. These types of chat rooms include:
Brokers host secure chat rooms.
Chat rooms on Skype.
LinkedIn and Telegram are linked.
OTC Brokers - These are middlemen who help buyers and sellers locate one other.
OTC desks - Some crypto exchanges have OTC desks where they discreetly buy and sell large sums of cryptocurrency.
The right company for your OTC crypto exchange platform development
If you're thinking about springing your own OTC cryptocurrency exchange platform, You came to the right place.
We Osiz Technologies, A Leading OTC Crypto Exchange Development our expert crypto developers provide all-inclusive crypto exchange development solutions that assure seamless, secure, rapid, and efficient trading.
What do you expect from Osiz?
A broad description of your business objectives.
A step-by-step guide to your development process.
A live demonstration is available for free.
Our tech professionals will provide you with a free discussion.
On-time delivery of high-quality services and support.
Ensure the safety and privacy of your data.
Reasonable price ranges.
That's it! This is our complete guide on "How to develop your OTC crypto exchange platform?".We hope this article will clarify some misunderstandings and help you better understand the concept of over-the-counter trading platforms.
If you are interested in launching an OTC Crypto Exchange website, reach us to get the expert's advice free of cost.