[2017-06-19]Chinese Explore Future of OTC Trading at Bitcoin Meetup

[nanay777]

In a recent meeting in Chengdu, China, traders explored how over-the-counter (OTC) exchanges will function in the future. The meeting was arranged by BitKan in order to allow bitcoin investors and professionals to come together to build shared trust and understanding.

The meeting is a result of the fact Chinese Explore Future of OTC Trading at Bitcoin Meetupthat Chinese online exchanges again have resumed withdrawals. Kevin Helms, writing for bitcoin.com covered the issue, saying, “Chinese bitcoin exchanges have reportedly resumed bitcoin withdrawals. Customers of BTCC, Huobi, and Okcoin can now withdraw their coins up to certain daily limits.” He continued, “Following the inspections by the People’s Bank of China (PBOC), BTCC, Huobi, and Okcoin halted coin withdrawals in February. Almost four months later, on Wednesday May 31, at least two of them reportedly lifted their cryptocurrency withdrawal suspensions.”

Chinese Bitcoin Ecosystem Talks OTC’s and Exchanges

It appears that since the withdrawals started, OTC exchanges have declined…but Chinese traders and business people do not want OTC trades to stop. This was one of the important facets of the meeting. The event page on Bitkan’s Facebook noted the event and mentioned what topics they would focus on. Aspects of the talk included:

1.What are the risks in OTC trading? How to avoid them?
2.Under the Chinese government’s policy regulation, what’s the prospect of OTC trading?
3.What are the differences between exchanges and OTC? What are the respective advantages?
4.What’s the situation of OTC trading outside of China?
read more:https://news.bitcoin.com/chinese-explore-explore-future-of-otc-trading-at-bitcoin-meetup/

[1Referee]

Bitcoin as a whole has been growing nicely, but what has been lacking severely, is the overall orderbook liquidity that regular exchanges provide. That's why wealthy entities head over to OTC to settle multi million transactions. Seriously, in order to liquidate 4000BTC at once through Bitstamp, you have to dump the price down to around $1900 to do the job. Plus you leave the exchange behind with a massive handicap, since you have taken away millions in liquidity... ItBit is doing well lately in regards to OTC - they offer you the opportunity to buy/sell a considerable number of coins at just one fixed price, that also corresponds with the latest market rates. Another advantage, they only charge 0.1% in fees. It's a massive win for any larger trader/investor.