Over-the-counter (OTC) trading of USDT, that is, the C2C (peer-to-peer) trading model, is a way to match buyers and sellers of USDT. The counterparty can directly purchase USDT with fiat currency. Nowadays, many exchanges offer OTC trading services, which not only simplify the trading process. Some exchanges can also provide tailor-made services and ensure the confidentiality of transactions to meet the specific needs of large-volume traders. Therefore, there are relatively many USDT OTC trading platforms in the market, and many investors find it difficult to distinguish which USDT OTC trading platform is better for a while. According to the current data analysis, the main ones are Binance, OKX, etc. Below, the editor will explain in detail for you.
Which USDT OTC trading platform is better? The latest overview of USDT OTC trading platforms in 2024
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Which USDT OTC trading platform is better?According to the current data analysis, relatively good USDT OTC trading platforms include Binance, OKX, and Huobi, etc. OTC trading is a decentralized process, and you can directly negotiate trading conditions with the counterparty. Both parties can reach an agreement on the trading price, scale, and settlement date of the underlying assets or instruments. The following is a specific introduction to the platforms:
BinanceBinance Exchange (official registration, official download) is one of the platforms with the largest trading volume of cryptocurrencies globally. It is committed to providing a safe, fair, open, and efficient trading environment for blockchain digital assets. Holding licenses, registrations, and approvals in multiple jurisdictions, it provides a wide range of services globally, including digital currency trading, currency information, blockchain asset issuance, blockchain project incubation, blockchain public welfare and charity, etc.
OKXOKX (official registration, official download) was founded in 2017. Due to its long registration time and stable trading, it has always been praised by investors. The main business of this exchange is to provide users with trading services for Bitcoin, Ethereum, and other crypto assets. On February 2, 2021, the exchange officially launched the Chinese name "OKX". In January 2022, OKEx was renamed OKX.
HuobiHuobi (HTX) (official registration, official download) is a global digital currency trading platform that can provide trading of thousands of cryptocurrencies and related services. Users can trade digital currencies such as BTC, ETH, and HT, invest in the spot and contract markets, or pledge tokens to obtain profits. After acquisition, rectification, and brand upgrading, as an established exchange, various data of Huobi HTX are generally recovering.
Is there any risk in OTC trading?OTC trading has certain risks. In the OTC trading of the cryptocurrency market, it more often involves the deposit and withdrawal of fiat currency, such as the direct exchange of the US dollar, Japanese yen, British pound, etc. with USDT and BTC. If the transaction amount is too large during the exchange process, situations such as being monitored by the bank and having the bank card frozen may occur. Specifically, it is necessary to refer to the laws and regulations of the local area.
Due to the differences in policies among countries, there are actually certain thresholds for directly purchasing a large amount of cryptocurrencies with fiat currency or selling cryptocurrencies for cash. Coupled with the issues of spreads and slippage, some large-volume transactions also tend to be carried out over the counter. This is the real reason why we can sometimes see the continuous positive or negative premiums of BTC in the OTC market.
The liquidity of the OTC market is usually low because most of the listed assets are not traded frequently. This is accompanied by difficulties in buying and selling such digital assets and significant price fluctuations.