My first entry into Cryptocurrencies was through Local Bitcoins, an online cryptocurrency OTC trading platform, in which I tentatively purchased BTC worth 10 USD. Although it is a commonly held misconception that OTC trading is a preserve for “Whales” (High-volume investors), OTC trading accommodates trades in all sizes.

OTC (Over The Counter) Trading refers to the trades that are made outside digital currency exchanges. As such, it is a direct peer to peer trade. These trades may take the form of cryptocurrency ATMs, peer to peer trades through cryptocurrency brokers or trades initiated through online chat rooms.

Popular OTC trading platforms like Local Bitcoins are online cryptocurrency brokers which connect traders while incorporating escrow services to ensure traders meet their ends of the deal. In turn, they charge trading fees in the range of 1–2% for their services.

Understanding Over The Counter (OTC) trading

For the most part, OTC trading affords the user the following advantages over typical cryptocurrency exchange services

Price stability; most markets in crypto exchanges lack liquidity, and a large sell or buy will have a drastic effect on prices and may cause unfavorable movement of prices before your order is filled. OTC trades can allow the trader to make or access an offer at a fixed price,
Quicker settlement times; unless there is an issue that requires arbitrage, a successful trade usually takes a short time and the user gains immediate ownership of his digital assets.
Users can escape the 24 Hour trading limits imposed by most centralized exchanges

Shortcomings of OTC platforms include:

Usually, OTC transactions have higher fees compared to trades performed on exchanges
OTC transactions carry a higher settlement risk compared to trades made on exchanges
There is a need to find a trustworthy counterparty/broker

Huobi Global is a leading digital asset trading and investment service provider, which includes OTC cryptocurrency trading into its suite of services. Huobi OTC services have recently opened up to the Vietnam market. In terms of cryptocurrency and blockchain adoption, Vietnam ranks among the most active countries despite an official government ban on cryptocurrencies as a means of payment. However, most Vietnamese still use cryptocurrencies as an investment tool since the regulatory framework does not explicitly ban citizens from owning digital assets such as Etherium and Bitcoin. Huobi OTC platform will, therefore, serve as an onramp for this latent investment energy.

How to Use Huobi’s OTC

Using HUOBI’S OTC platform is quite straightforward;

Illustration 1:

You are holding digital assets (BTC/ETH/USDT) and you want to maximize your profit on the OTC platform through single currency trade.

Step 1: Create an advertisement and sell your BTC to local currency at a higher than market price.
Step 2: Create advertisement and buy back BTC using local currency at a lower than market price.
Step 3: Repeat step 1
Step 4: PROFIT!

Illustration 2:

You do not hold any digital assets (BTC/ETH/USDT) and you want to start making profit in OTC platform through single currency trade.

Step 1: Create advertisement and buy BTC using local currency at a lower than market price.
Step 2: Create advertisement and sell your BTC to local currency at a higher than market price.
Step 3: PROFIT!

Huobi’s OTC versus Available OTC platforms

Low Fees
Huobi’s OTC platform charges 0 fees for trading local currency into bitcoin, etherium and tether(USDT). For other trades, the fees are less than 1%

Integration with Huobi Global’s Exchange Services
There is a seamless integration of services between Huobi’s OTC and exchange services. OTC Users can easily transfer their funds in ot HUOBI PRO and Huobi Next and Huobi Margin in order to enjoy more trading options.
Excellent support services
Customer guidance; Huobi has incorporated a wealth of information sources and tutorials to guide clients on how to navigate the platform, set up and settle trades and go through dispute resolution. You can find more content to guide you in your trading using the following links
Video Guide
Blog Guide
Customer support; Traders enjoy 24/7 customer support services
Security
Huobi has in place measure to enhance the security of users funds. Firstly, sellers have to have funds in their accounts before posting any advertisements. Also, you can read on Huobi’s “Know-your-customer and Anti-Money Laundering Policies” here which forms the foundation of ensuring trust and compliance in trading. It is also noteworthy that due diligence on the clients part is a necessity.

Huobi OTC is a safe and reliable peer-to-peer digital assets exchange platform.

TAKE AWAY

For buyers and investors, the OTC platform offers trades that are devoid of slippage (price movements) since the offer prices are fixed. The key advantage of the Huobi Platform over other OTC platforms is the low trading fees, particularly USDT, BTC and Etherium which attract 0% trading fees. For the trader, this presents an excellent profit-making opportunity without worries of trading fees eating into his profits. Buyers also spend less on digital assets since the low trading fees are factored into trade orders.

Most importantly, Huobi’s provides users with a secure and convenient platform for OTC trades, with a firm focus on legal compliance and cryptocurrency trading best practices which mitigates the settlement risks associated with OTC trading. To begin trading on Huobi’s OTC platform, you can register on Huobi Global here.

Key words

HUOBI OTC moves into the Vietnam,
free cryptocurrency trading, free OTC trading, Trading,
Huobi Global, 0% trading fees

Disclaimer: This article is not intended as investment advice. It is for informational purposes. You should always do your own research.

HUOBI OTC moves into the Vietnam Market with 0% trading fees