How to use the Binance.US OTC Portal – Binance.US

Step 1: Go to the Binance.US OTC Trading Portal and log-in to your account.

Step 2: Choose whether you want to buy or sell:

Step 3: Choose the coins you would like to trade:

Enter one of the two amount boxes and press “Get Quote” to receive a quote.

Step 4: A quoted price will show, which you can either choose to accept or reject.

Once the quote expires, you can request another quote.

Step 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?

There will initially be 12 coins available for trading on the portal (plus USD), with plans to add more in the future. If you’d like to trade coins that are not on the portal (must be listed on Binance.US), 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 coins or USD in your account. For example, if you want to buy 10 BTC with USD and the price per BTC is $10,000, then you must have at least $100,000 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. Note: to withdraw USD, users will need to have passed Level 3 USD Verification.

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.

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.

Happy Trading!

Binance.US Team

5/11/2020

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