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Questions tagged [otc]

The tag has no usage guidance.

0
votes
1answer
55 views

How does crypto exchange got supply of bitcoins? [closed]

Let's take an example of Coinbase or Luno, who are their suppliers of bitcoins to be distributed to the buyers?
0
votes
2answers
561 views

Exchange-based vs over-the-counter (OTC)

I read an article about China ban on exchange, which mentions that ... the ban on exchange-based cryptocurrency trades will not extend to over-the-counter (OTC) transactions. I am confused over ...
2
votes
1answer
292 views

How are Bitcoin ATMs secured against double-spends?

Some bitcoin ATMs allow the exchange from bitcoins to paper money. Since waiting in front of an ATM for a confirmation is not feasible, they must defend themselves in another way against double-spends....
0
votes
1answer
469 views

Is it illegal to trade Bitcoin OTC in the United States [duplicate]

I am considering selling Bitcoin OTC. As far as the legalities go, is it legal to anonymously trade Bitcoin for cash without taking KYC information and registering with FinCEN? I know all the "big ...
7
votes
3answers
7k views

How do I buy Bitcoins safely face-to-face?

I've made a contact via LocalBitcoins.com and am going to buy some coins with cash. The seller is not verified, but as we will meet, it sounds ok: I show him the cash. He transfers the Bitcoins. We ...
10
votes
1answer
3k views

Legal issues / banking issues selling Bitcoins to people OTC?

I'm wondering what the practical / legal limits are on selling Bitcoin as an individual using Craigslist and LocalBitcoins. Will I run into legal issues / frozen bank accounts as I scale this? Right ...
3
votes
1answer
161 views

Is it acceptable / encouraged to ask for ID and keep a photocopy for OTC Bitcoin transactions?

Suppose a business wants to get into the OTC Bitcoin business. It will need to comply with AML laws. It is acceptable / encouraged for such a business to ask for photo ID and keep a photocopy? Does ...
0
votes
2answers
2k views

Best way for anonymous purchases (for small amounts only) with credit card or Paypal if you have Bitcoins to spend? Bitcoin-OTC? No name credit card?

Obviously if you are American or you live somewhere where you have the opportunity to just buy a Visa (or Mastercard) gift card in a store for cash: you can't go better than that. But I don't have ...
3
votes
1answer
340 views

What Income Could I Expect as an OTC BitCoin Trader

How long is a piece of string? Given "typical" UK market conditions, if I wanted to trade BitCoins as an OTC trader (via LocalBitCoins, IRC etc) - what income could I expect? £10/day? £100/day? £1000/...
3
votes
1answer
189 views

Can OTC help lessen the cost of slippage and exchange rate risk?

Obviously one can transact currency via buying BTCs on an exchange transacting them to another person which itself sells the BTCs received on an exchange - this would limit the possibilities of ...
4
votes
1answer
118 views

What stops someone from faking a rating on OTC web of trust?

What mechanisms does OTC web of trust have against someone creating several accounts and trading between with themselves over a period of time, giving each other perfect ratings.
11
votes
9answers
2k views

Is there a forum-like exchange for trading Bitcoins person-to-person?

I was to trade Bitcoins for PayPal quite frequently and I know that PayPal doesn't allow Bitcoin exchanges to accept PayPal payments. But there should exist a person-to-person trading site that works ...
8
votes
1answer
3k views

How does one use Bitcoin OTC?

I've heard of Bitcoin OTC and P2P exchanges, but never used one. How does one start? What does the ranking/rating system mean? How are exchanges done / reported? Why can't I see any user rating when ...