The OTC (over-the-counter) Trading Portal allows buyers and sellers to trade directly without the use of a public order book. This article will show you how to place an OTC trade, and answer some of the most frequently asked questions about OTC trading.
Please note: OTC trading is currently only supported on the website (and not in the mobile app). We currently only provide OTC crypto-to-crypto trades (not involving USD). There is also a limit of $10,000 (in USD equivalent) of value per trade.
Instructions to Place an OTC Order
How to Place an OTC Order
How to Place an OTC Order
1. Log into your Binance.US account via the website
2. Scroll over Trade in the header bar at the top of your screen, then click OTC from the drop-down menu
3. Select the two assets you would like to trade between and enter the amount you would like to trade in the top From field.
If you would like to switch the To and From assets you can click the two-arrow icon between both fields. Once ready, click Preview Quote
4. A trading quote will be presented to you. If you are satisfied with this offer, click Accept Quote to execute the trade
5. Once you accept the quote, you will see a trade confirmation screen, and our team will settle your trade as quickly as we can directly into your Binance.US account
Frequently Asked Questions
What does OTC Trading mean?
What does OTC Trading mean?
OTC stands for over-the-counter meaning the trade is negotiated directly between the buyer and the seller and does not provide a public order book listing all the trades. This allows large sums to be moved quietly without the potential to disrupt markets.
Is there a minimum trade amount?
Is there a minimum trade amount?
Cryptocurrencies have different minimum trading amounts. If you would like to trade a considerable amount of cryptocurrency, please reach out to [email protected].
What are the fees?
What are the fees?
We do not charge any fees for OTC trades. However, there will be a spread (if you are buying, our prices will be above the market price. If you are selling, our price will be below the market price).
How many coins are available for trading?
How many coins are available for trading?
Binance.US supports a long and growing list of assets for OTC trades. The easiest way to check if your asset is supported is by visiting the OTC Trading Portal and searching for it in one of the drop-down menus. If you’d like to trade assets that are not on the Binance.US OTC portal that are listed on Binance.US’s exchange platform, please email [email protected].
How do I make deposits and withdrawals for OTC trades?
How do I make deposits and withdrawals for OTC trades?
There is no separate wallet for OTC trades. Simply make deposits and withdrawals to your account’s spot wallet before you trade OTC.
Where can I check my OTC trade history?
Where can I check my OTC trade history?
Log into your account and go to https://www.binance.us/en/usercenter/wallet/otc-history.
I received an “insufficient funds” error?
I received an “insufficient funds” error?
To confirm an OTC trade, you must have the required amount of crypto in your account. For example, if you want to buy 1 BTC with USDT and the price per BTC is $10,000, then you must have at least $10,000 worth of USDT in your account to confirm the trade.
Can I use either an individual (personal) KYC verified account or a corporate (entity) KYC verified account?
Can I use either an individual (personal) KYC verified account or a corporate (entity) KYC verified account?
Yes, both individual and corporate KYC verified accounts are able to trade.
What level of KYC do I need to use the Portal and to withdraw?
What level of KYC do I need to use the Portal and to withdraw?
Level 1 KYC users are able to use the OTC desk.
What if I want to buy crypto in smaller amounts?
What if I want to buy crypto in smaller amounts?
OTC trading is beneficial for placing large orders where a market or limit order could impact liquidity and cause price slippage. To buy or sell crypto directly in smaller amounts, please use the Buy Crypto Portal on the app or homepage. You may also execute at market orders or leave limit orders when you Trade Crypto - in basic or advanced mode.
Can I make an OTC trade on the mobile app?
Can I make an OTC trade on the mobile app?
Unfortunately, OTC trading is only available on the website at this time.
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Legal disclaimer: This material has been prepared for general informational purposes only and should NOT be: (1) considered an individualized recommendation or advice; or (2) relied upon for any investment activities. All information is provided on an as-is basis and is subject to change without notice. We make no representation or warranty of any kind, express or implied, regarding the accuracy, validity, reliability, availability, or completeness of any such information. Binance.US does NOT provide investment, legal, or tax advice in any manner or form. The ownership of any investment decision(s) exclusively vests with you after analyzing all possible risk factors and by exercising your own independent discretion. Binance.US shall not be liable for any consequences thereof.
Risk warning: Buying, selling, and holding cryptocurrencies are activities that are subject to high market risk. The volatile and unpredictable nature of the price of cryptocurrencies may result in a significant loss. Binance.US is not responsible for any loss that you may incur from price fluctuations when you buy, sell, or hold cryptocurrencies. Please refer to our Terms of Use for more information.
Binance.US reserves the right in its sole discretion to amend or change or cancel this announcement at any time and for any reasons without prior notice.