A digital asset which works as a medium of exchanges and it is controlled by cryptography is known as a cryptocurrency. Cryptocurrency is secured, verified and created by the use of cryptography. Bitcoin, Litecoin and Etereum are the common cryptocurrencies. This article is exclusively on Bitcoin trading. Those who have large sums of bitcoins prefer using the Bitcoin OTC trading. The bitcoin over-the-counter trading is the use of brokers in buying and selling bitcoins directly between two individuals other than using exchanges. Trading large amounts using the Bitcoin OTC brokers does not alter the prices on exchanges. Below are attributes of the competent bitcoin OTC brokers.
A good bitcoin OTC broker is supposed to have a permit. A permit will act as a go-ahead for the Bitcoin OTC broker to offer Bitcoin trading services. An incompetent bitcoin OTC broker is not supposed to be issued with a permit. A bitcoin OTC broker should have a valid permit. You may lose your bitcoins by using an unauthorized bitcoin OTC broker.
Before you choose a bitcoin OTC broker, you need to ensure he/she offer outstanding support. The bitcoin OTC trading involves large sums of bitcoins, therefore, the broker should be available to offer support to the traders. The bitcoin OTC broker should have an always working telephone line. The best bitcoin OTC brokers have customer care departments. Nowadays, the best bitcoin OTC brokers also use online methods in offering support.
An online presence is another feature of a good bitcoin OTC broker. A bitcoin OTC broker with an online presence will enable you to trade virtually and also get online support. A good bitcoin OTC broker should have a well-designed website.
A good bitcoin OTC broker should have cheaper transaction fees. There is a fee for every transaction which is facilitated by the Bitcoin OTC broker. The transaction fees deducted from the traders goes into financing the activities of the Bitcoin OTC broker. A good bitcoin OTC broker should have a cheaper fee. Since the number of bitcoin OTC brokers is high, you are supposed to look at their prices before you pick one.
The same-day settlement is another feature of a good bitcoin OTC broker. The amount of bitcoins you make as profit goes to your account. Same-day settlement means that the Bitcoin OTC brokers will deposit your profit to your account on the same day.
A good bitcoin OTC broker should have a top rating. The rating of a bitcoin OTC broker depends on the services he/she provides. The reviews have details about the top-rated bitcoin OTC brokers.