Binance.US OTC trading allows you to place buy and sell orders with values of $10,000 USD and greater. OTC trading is beneficial for placing large orders where a market or limit order could impact liquidity and cause price slippage.
OTC stands for over-the-counter. An OTC desk seeks to help you obtain a single fixed price with which you can buy or sell a particular asset. OTC trades are negotiated directly between the buyer and the seller. OTC does not provide a public order book listing all of the trades. This enables large sums to be traded without disrupting markets.
Traders with large amounts of currencies or assets may worry that the transparency provided by public exchange order books, as well as possible liquidity issues, could make it difficult to trade large amounts quickly without moving markets and impacting prices. OTC trading is designed to help overcome these issues by arranging a more customized transaction conducted directly between two counter parties without using an exchange order book.
OTC trading typically unlocks a deeper liquidity pool than what is immediately available on an exchange order book. It can provide a relatively large source of liquidity for altcoins compared to what you generally see on the exchange order book at any given time.
In summary, trading cryptocurrency or assets through OTC markets may cut down on price slippage by offering opportunities to transact larger amounts while reducing certain market risks.
Try Binance.US OTC Trading today!
What is the minimum trade amount for Binance.US OTC?
The minimum trade amount is an equivalent value of $10,000 USD.
What are the fees for using OTC?
We do not charge any direct fees for OTC trades.
How do I make deposits and withdrawals for OTC trades?
There are no separate wallets for OTC trades on Binance.US. Simply make deposits and withdrawals to your account’s spot wallet before you trade OTC.
Where can I check my OTC trade history?
Log into your account and go to: https://www.binance.us/en/usercenter/wallet/otc-history
I received an “insufficient funds” error. What does this mean?
To complete an OTC trade on Binance.US, you must have the required amount of currency / assets in your account at the time you initiate the OTC trade.
Can I use either an individual (personal) KYC verified account or a corporate (entity) KYC verified account?
Yes, both individual and corporate KYC verified accounts can trade.
What level of KYC do I need to use the OTC portal and to withdraw?
You must pass basic account verification to use the Binance.US OTC desk.
What if I want to trade less than $10,000?
To buy and sell crypto in amounts below $10,000, please use the Buy Crypto Portal for convenient recurring purchases and one-click trades. Or, use our more advanced trading portal to place market and limit orders.
What currencies / assets are available for OTC trading on Binance.US?
This material has been prepared for general informational purposes only and should NOT be: (1) considered an individualized recommendation or advice; and (2) relied upon for any investment activities. All information is provided on an as-is basis and is subject to change without notice, we make no representation or warranty of any kind, express or implied, regarding the accuracy, validity, reliability, availability or completeness of any such information. Binance.US does NOT provide investment, legal, or tax advice in any manner or form. The ownership of any investment decision(s) exclusively vests with you after analyzing all possible risk factors and by exercising your own independent discretion. Binance.US shall not be liable for any consequences thereof.