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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.
How to Place an OTC Trade
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 Trading' 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
Other Frequently Asked Questions:
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?
Cryptocurrencies have different minimum trading amounts. If you would like to trade a considerable amount of cryptocurrency, please reach out to OTC@Binance.US.
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?
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 OTC@Binance.US.
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?
Log into your account and go to https://www.binance.us/en/usercenter/wallet/otc-history.
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?
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?
Level 1 KYC users are able to use the OTC desk.
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?
Unfortunately, OTC trading is only available on the website at this time.
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.
Access your crypto anytime with the Binance.US mobile trading app:
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