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An introduction to the Bitfinex OTC service

Over-the-counter (OTC) cryptocurrency trading has grown in popularity as confidence in the market has grown and more institutions are buying Bitcoin. While the exact volume cannot be verified due to the specifics of this market, Bloomberg reported in April 2018 that the daily global OTC market volume was somewhere between $ 250 million and $ 30 billion.

Bitfinex’s OTC trading services

In response to the growing interest of traders in cryptocurrency OTC trading, Bitfinex has been offering OTC trading services since December 2016.

For traders looking for easy and instant settlement for large trades, Bitfinex OTC trading desk is probably one of the best options. This service allows traders to execute large orders without having to go through the public order books and without additional fees or exchange commissions. Moreover, these transactions do not affect the market price of the cryptos in question. A wide variety of trading pairs are available on Bitfinex’s OTC desk, for greater trader convenience.

How do you open an OTC transaction?

Getting started is easy, you have to visit and select the OTC tab on the main platform page Account information‘and create your OTC nickname. Once completed, you can revisit the OTC tab access to our OTC trader Bill Brindise contact details. Now you can select your agreed price and discuss how you would want the command to be executed.

Once accepted, the transaction is immediately credited to the customer’s account. If a trader wanted to clear trade with another Bitfinex user, they just enter the OTC nickname of the counterparties and trade detail in the OTC order form, click request trade and wait for the opposing party to accept it.

While there is no minimum size limit, OTC trading is generally over US $ 100,000 and we have OTC trades up to US $ 50,000,000. Our usual clients are hedge funds, institutions and high net worth individuals, but anyone who passes Bitfinex’s eligibility test can use the OTC markets and trade with other Bitfinex users.

We recently upgraded the OTC platform and with the launch of Bitfinex Pulse, you can now post markets for other users to see! Stay tuned for more upgrades in the near future!

Why choose Bitfinex?

As one of the longest-running exchanges in the cryptocurrency exchange industry, Bitfinex has an impeccable track record of providing reliable services to our users and to the cryptocurrency community in general. Compared to the other major exchanges, recent research conducted by CryptoCompare suggests Bitfinex is the most liquid spot exchange based on order book depth.

The research found that when Bitcoin prices collapsed within hours on March 12, 2020, Bitfinex was the one to account for most of the trading volume at the highest levels. In addition, within the first hour of the crash, Bitfinex generated the most volume of the other major exchanges, which was about $ 11.8 million in transactions per minute, while remaining fully operational and stable.

With such persistence, Bitfinex, even during the market crash, has attracted big investors to take the leap of faith into the crypto market. One of our milestones in the first quarter of the year was when we successfully added Fulgur Alpha, a US $ 280 million Bahamas-based cryptohedge fund, to our platform last March. This milestone cemented Bitfinex’s position as the go-to location for major crypto funds, market makers and arbitrageurs.



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