A digital asset which works as a medium of exchanges and it is controlled by cryptography is known as a cryptocurrency. The cryptography is used in securing the cryptocurrency, verifying transfers and creating more units. The widely used cryptocurrencies are Litecoin, Ripple, Bitcoin, and Ethereum. In this article we shall look at Bitcoin OTC trading. Those who have large sums of bitcoins prefer using the Bitcoin OTC trading. The bitcoin over-the-counter trading is the use of brokers in buying and selling bitcoins directly between two individuals other than using exchanges. In case you trade large sums of bitcoins on-exchange, the price will move. Below are attributes of the competent bitcoin OTC brokers.
The best bitcoin OTC brokers are permitted. A permit will act as a go-ahead for the Bitcoin OTC broker to offer Bitcoin trading services. The permit is provided by the authoritative bodies after the Bitcoin OTC broker has attained the minimum set requirements and has been successfully registered. The permit should have a future expiry date and the right security features. You may lose your bitcoins by using an unauthorized bitcoin OTC broker.
The best bitcoin OTC brokers offer quality support. Improved support will ensure that every trader has no trading problems. There should not be even a single minute when the bitcoin OTC broker cannot be reached. In order to serve all the traders with issues, a bitcoin OTC broker is supposed to have some members of staff who offer support. Nowadays, the best bitcoin OTC brokers also use online methods in offering support.
An online presence is another feature of a good bitcoin OTC broker. In order to trade online and learn more about the Bitcoin OTC broker virtually, you need to choose a broker who has a website. The website should be attractive, well optimized and always available.
The best bitcoin OTC brokers have lower transaction fees. In order to buy and sell bitcoin by using an OTC broker, you must pay a fee. The transaction fees deducted from the traders goes into financing the activities of the Bitcoin OTC broker. The transaction fee is not supposed to be high. There are many bitcoin OTC brokers hence you need to look at the fees they charge before you settle on one.
A good bitcoin OTC broker should provide same-day settlement services. Once you make some profit after trading bitcoin, the amount should be put into your account. The best bitcoin OTC brokers offer same-day settlements so that you are not inconvenienced.
A good bitcoin OTC broker should have a top rating. You will bitcoin OTC trading services once you pick a top-rated bitcoin OTC broker. The reviews have details about the top-rated bitcoin OTC brokers.