How We Do
How does the OTC Exchange work?
A user would sign up for an account on the OTC exchange, To begin the trade they would have to deposit fiat currency into the administrator's account. This process is manual and offline, Once the account is verified and approved, they can start deposit the money to the bank account mentioned on the deposit page, the user would then have to submit their proof of transaction with the transaction ID, so the administrator can track and validate the transaction. Only then the user can start trading with the amount available in their wallet.
How to Buy and Sell on the Over the Counter (OTC) exchange?
Before you purchase a Cryptocurrency on the Over the Counter (OTC) exchange, you would need to deposit fiat currency in the Fiat currency Wallet. Whenever an amount is deposited, it would be sent to the site's admin wallet and the amount will reflect in the user account's fiat wallet.
SELLING on OTC Exchange
When a user sells their cryptocurrency, they would get fiat currency for it in the OTC exchange. The price of it is determined through the Cryptocompare's API and as the admin, you have the option to add a percentage above it individually for Buying and Selling of these cryptocurrencies.