What is Over-The-Counter Trading for Bitcoin (What Does OTC Bitcoin Mean)?
What is over-the-counter trading for Bitcoin? What is over-the-counter trading
What is over-the-counter trading for Bitcoin? What is over-the-counter trading for Bitcoin?
In 2017, many people in the cryptocurrency industry started using Bitcoin for over-the-counter (OTC) trading, which typically involves buying, selling, or exchanging a virtual token. However, due to the lack of traditional exchanges and custodial institutions, some investors consider it a speculative investment method as they hope to generate cash flows and make profits from it. As a result, over time, this situation has changed: Bitcoin prices surged to over $10,000; traders moved funds to other platforms at lower prices to avoid hefty fines. (Cointelegraph)
What does OTC Bitcoin mean?
Within the blockchain industry, OTC Bitcoin refers to “a virtual currency that is paid by a specific country, certain regions, or any individual through the internet.” It is often described as a specific economic entity or a new organizational form that promotes economic activity and financial transactions to attract other users’ participation. For encrypted digital assets, “the country’s legal population must exceed 21 million,” which means there are about 2 billion people in the world without bank accounts, but only a few households have enough money to use them.
The definition of OTC Bitcoin can be simply understood as: “a company/entity (such as Facebook/Google, etc.) announces that it will accept Bitcoin as a payment method, or they believe that Bitcoin can acquire another identity, such as the U.S. government or central bank.”
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