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The KuCoin exchange launches its OTC
The KuCoin exchange launches its OTC
Crypto

The KuCoin exchange launches its OTC

By Alfredo de Candia - 1 Jul 2019

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As revealed in the official announcement, the KuCoin exchange will shortly launch the OTC (Over the Counter) trading platform for trial transactions.

With this new support, they will meet the needs of users, who will then be able to use the platform to place orders of a certain level without affecting the market trend and thus creating a situation of panic among traders.

As can be read, the service will initially cover the OTC of the USDT/CNY pairing, then Tether and Chinese Yuan. In fact, users will be able to buy tokens and crypto using the fiats supported by the OTC desk. In addition, during initial trades, fiat-token trading will be temporarily closed for 8 hours each day, namely from 00:00:00 to 07:59:59 (UTC+8).

Through OTC trading it is possible to access greater liquidity and a private service useful in case one wishes to execute significant orders both with fiat and with tokens. Several exchanges already provide this possibility, such as Kraken or Binance, allowing it with various cryptocurrencies (over 80 in the case of Binance).

Recently, the Bithumb exchange also launched its own OTC trading desk, as well as Poloniex, Coinbase, Gemini, Bittrex and Circle, reflecting the hype of the over the counter platforms that are registering, according to a recent DIAR report, increasingly large volumes.

Alfredo de Candia
Alfredo de Candia

Android developer for over 8 years with a dozen of developed apps, Alfredo at age 21 has climbed Mount Fuji following the saying: "He who climbs Mount Fuji once in his life is a wise man, who climbs him twice is a Crazy". Among his app we find a Japanese database, a spam and virus database, the most complete database on Anime and Manga series birthdays and a shitcoin database. Sunday Miner, Alfredo has a passion for crypto and is a fan of EOS.

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