6 Reasons To Consider Buying and Selling Crypto With an Over-the-Counter Trade Desk
With so many different options for buying and selling cryptocurrencies, choosing which method will be the best for you can be tricky. If the long onboarding processes of exchanges aren’t your thing and you have no interest in converting cash to cryptocurrency at a Bitcoin ATM, then using an over-the-counter (OTC) crypto trade desk might be the choice for you.
Below, find six reasons why you should consider buying and selling crypto with an OTC trade desk.
Suggested reading: What Is Over-the-Counter (OTC) Crypto Trading and How Does It Work?
1. You are a crypto beginner
Using an over-the-counter crypto trade desk is an excellent option for crypto beginners to enter the crypto market. The peer-to-peer nature of using a cryptocurrency trade desk offers personalized support that cannot be found through using a cryptocurrency exchange.
Among the most beginner-friendly over-the-counter crypto services currently available is CoinFlip Trade Desk. With this service, CoinFlip pairs you with an industry expert account manager, ready to answer any questions you may have on your crypto buying journey.
Suggested reading: CoinFlip Beginner’s Guide to Cryptocurrency Series
2. You enjoy low, transparent fees
Let’s face it. No one actually enjoys paying fees, but it is a necessary evil when it comes to exchanging fiat currencies for crypto. What is not a necessary evil, however, is charging hidden fees! Did you know that many exchanges often charge hidden fees on crypto transactions through the use of spreads? It’s true. They sell you crypto at prices higher than market value and pocket the difference.
CoinFlip’s Trade Desk, on the other hand, promises low, transparent fees always. Fees can be as low as 0.5% based on the amount of your transaction with CoinFlip Trade Desk. Fees increase for smaller transactions. Trade Desk never uses spreads and always makes trades at market value.
Suggested reading: Beware the Hidden Fees
3. You want instant ownership of your crypto
Over-the-counter crypto trading means that all transactions are made directly from peer-to-peer. Once the OTC desk has received the funds during a trade, your crypto is immediately sent to your personal wallet, giving you immediate ownership of your coins or tokens.
However, when purchasing through an exchange, your crypto is typically sent to a wallet hosted by that exchange. You have to transfer the funds to your personal crypto wallet manually. For the duration of time that your crypto sits in an exchange-hosted wallet, those assets are technically in the custody of the exchange as you do not own the keys to that wallet; the exchange does. If that platform is hacked or compromised in some way, you could lose your crypto.
Suggested reading: Why The Crypto World Is Turning to Self-Custodial Wallets and Services
4. You are looking to diversify your portfolio
Modern portfolio theory recommends investing in multiple types of assets to help reduce risk. This includes investing in traditional investments such as stocks, bonds, and real estate, in addition to investing in digital assets like cryptocurrencies. The same principle applies to cryptocurrency portfolios; investing in more than one crypto asset can help to mitigate the impacts of market volatility.
With CoinFlip Trade Desk, you can choose from more than 20 different cryptocurrencies to buy and sell -- that is more than twice as many that are available on our ATMs. Trade Desk makes it easy to diversify your overall investment portfolio and your crypto portfolio.
Suggested reading: Diversifying Your Portfolio With Crypto (And Diversifying Your Crypto)
5. You want to trade from the comfort of your home
Despite being referred to as an over-the-counter trade desk, OTC trades are not actually made at a physical location like a counter or a desk. Transfers are made to and from your bank account and crypto wallet totally online. This means you can buy and sell cryptocurrency from wherever you are, including the comfort of your couch.
Suggested reading: 3 Reasons You Should Avoid PayPal and Robinhood When Buying Crypto
6. You prefer no limits
Unlike using an exchange or ATM, there is no limit to the amount of cryptocurrency you can purchase through a trading desk. Furthermore, some OTC services require minimum trades of 20 BTC or higher to start trading; CoinFlip Trade Desk has no minimums or maximums to the amount you can trade, allowing investors at all levels to enjoy the benefits of OTC crypto trading.
Suggested reading: 5 People Who Made Millions off Bitcoin
What is CoinFlip Trade Desk?
Trade Desk is CoinFlip’s OTC trading experience that pairs you with a personal account manager to help you through the onboarding process and answer any questions. Our account managers ensure that you are always getting competitive prices and avoiding the unnecessary fees charged by our competitors.
In addition to a personalized account manager, Trade Desk clients have access to CoinFlip’s award-winning 24/7 customer support.
Unlike other crypto OTC services that require minimum trades of 20 BTC or higher to start trading, CoinFlip Trade Desk has no limits to the amount you can trade, allowing investors at all levels to enjoy the benefits of OTC crypto trading.
Register for Trade Desk today to start making OTC trades with one of the leading names in the crypto space.
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