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Cryptocurrency exchange Bittrex announced today that it has opened an over-the-counter (OTC) desk for approved customers to quickly and conveniently trade digital assets supported by Bittrex, including nearly all 200 tokens on the platform. Customers may learn more about this offering here.
The new OTC desk will reduce customer price risk and offer rapid trade execution. It will also give customers the opportunity to buy or sell the extensive selection of digital assets supported on the Bittrex platform, including providing guaranteed pricing for large trades, which are typically $250,000 or greater.
“We’re excited to offer this new, game-changing trading option for our customers,” said Bittrex CEO Bill Shihara. “With one of the most extensive selections of digital assets of any OTC desk available, this offering will be another way for Bittrex to further advance adoption of blockchain technology worldwide, while also providing our customers with price certainty and a fast and easy way to trade large blocks of digital assets.”
The OTC desk will accept both digital asset deposits and USD wire transfers from qualified customers to buy or sell digital assets directly from Bittrex. Once the wire transfer or digital asset deposit has been received, Bittrex will send the purchased cryptocurrency or USD to the customer’s existing Bittrex account. More details on instructions and requirements for fiat trading and wire transfers can be found here.