HODL HOLD Shares New OTC Bitcoin Trading Platform With No Custody Escrow Options And Tenbagger
HODL HODL, the multisignature cryptocurrency exchange, has announced the launch of OTC trading thanks to a partnership from EU-licensed crypto broker Tenbagger. The announcement foresees the development of crypto trading that will allow matching, guiding parties, and selling of Bitcoins within a same day settlement period.
With OTC trading markets becoming vibrant with the growth in cryptocurrencies, existing exchanges are looking for innovative ways to eliminate the risks associated with the digital currencies. HODL HODL has developed the non-custodial crypto escrow as a measure to leverage and realize the full potential of the Bitcoin blockchain.
Understanding OTC Trading
The idea with OTC trading rises from the fact that not everyone can trade their cryptocurrency through exchanges. For example, if you are looking to purchase in 100 BTC at once, you will have to bear the burden of the market shifts during the trading period. Such a situation would necessitate a trade mechanism that will protect you from the shifting market position and possible slippage in value. OTC comes in here to help find a desired party and trade directly without other factors affecting value.
OTC trading would, therefore, entail trading BTC directly with brokers or individuals who can offer quoted prices and shield the high-value trader from adverse impacts on the price point. HODL HODL's new trading initiative seeks to achieve a new level of OTC by offering escrow and non-custodial options for the traders to trade directly as if they were on an exchange.
HODL's OTC Trading vs. Exchange
The use of intermediaries and custodians in cryptocurrency can end up increasing the value of a transaction, which becomes a burden to the trader. However, OTC trading eliminates these third-parties from the equation to offer a myriad of advantages to the crypto traders. HODL's over-the-counter trading desk promises the following benefits over the regular trading exchanges
- Secure and transparent transactions under the unique multisig escrow platform
- 24/7 personalized customer support with private communication channels for queries
- Competitive BTC price rates thanks to a large number of brokers available
- Individual and customized trading experience that utilizes a P2P fashion
- Same day settlements- all trades will be settled immediately after user confirmation
Additionally, HODL HODL writes that the new OTC trading development would not interfere with the current operations. The non-KYC/AML options for non-custodial exchange are still available for any trade amount- be it small or large. The wallet is promising to stick to its origin framework to help in the purchase of BTC or LTC.
Is the OTC Trading Worth It?
Like much of the crypto industry, HODL HODL OTC trading option is still open to debate as to whether it is reputable or not. However, as an OTC trader, it is essential to look out for a broker that will not game you as an actual exchange would. The end goal is not to enter the OTC marketplace blind but seek reference, convenience, and endorsement of each broker you plan on trading your crypto investments.
— Hodl Hodl (@hodlhodl) November 2, 2018