The OTC Trading Desk can arrange the purchase or sale of large blocks of digital assets. In order to trade through the OTC Desk, accounts must have the USD or digital asset in their account to settle the trade. The OTC Desk is active from 9 am to 5 pm EST and 9 am to 5 pm SGT on business days.
The OTC trading process is relatively simple. Contact the OTC Desk with orders via Skype/Telegram/WeChat or email. The OTC Desk will request quotes from other participants in the OTC marketplace. We will respond to you with the best bid or offer from the group. From there, the OTC Desk will negotiate with both sides to attempt to agree on the price. If the parties agree on the price, the trade is complete and Paxos will send a confirmation with settlement instructions. Most trades settle the same day.
How to Trade:
Trade negotiation and execution are done via Skype, Telegram, Wechat, or email. Trades are settled through Paxos wallet accounts. To begin trading OTC with Paxos, you will need to complete the following four steps:
- Open a Paxos Wallet Account: You can open a trading account with us online at www.paxos.com.
- Fund Your Account: Make an initial deposit into your trading account. This can be in the form of USD or a digital asset depending on if you are the buyer or seller.
- Contact our OTC Trading Professionals: Please contact our trading desk via email at OTC@itbit.com to schedule an introductory meeting and establish a Skype chat or other channel for sharing quotes and orders on an ongoing basis.
OTC Desk supported assets can be found below:
- Bitcoin (BTC)
- Ethereum (ETH)
- Bitcoin Cash (BCH)
- Litecoin (LTC)
- Stellar Lumens (XLM)
If you have any other general questions about the OTC process, please submit a ticket here.