The popular cryptocurrency exchange platform known as CoinDCX has launched a new facility in the cryptocurrency market, OTC (Over The Counter) Desk. The main aim is to tap into the institutional client market for effective and efficient cryptocurrency trading. OTC Desk will help to seamlessly execute huge bulk of orders for different cryptocurrencies such as Bitcoin, Ethereum, and many others. It will also offer clients to exchange valuable holdings without the trouble of high volatility in the cryptocurrency market. Let's dive deep into this new facility in the cryptocurrency market from CoinDCX.
CoinDCX is determined to have effective risk management during the executions of large crypto trades in the global cryptocurrency market. This new OTC Desk is implemented to be a supplement of the existing two platforms known as CoinDCX as well as CoinDCX Pro. The target audience of this cryptocurrency exchange platform is investors or traders who prefer to trade in bulk quantities of cryptocurrencies. It has been announced that the average ticket size will start above Rs. 30 lakh or US$40,000 plus investments. It is focused to expand the user base with trading volumes in the nearby future.
The OTC Desk facility is used for cryptocurrency trading when an investor cannot use the cryptocurrency exchange facility. The OTC Desk will act as a dealer for potential investors or traders to trade any popular cryptocurrency at a stable price while minimizing potential cryptocurrency market-related risks. There are opportunities for investors to place large crypto trades with personalized services in three markets such as USDT/INR, BTC/INR, and ETH/INR. The CoinDCX team will lock the said price for 30-45 minutes once each party reaches a mutual agreement. There is a facility of specialized OTC Swaps for efficient execution with the decided price— BTC/INR and ETH/INR while for volume above US$100,000 in USDT/INR.
The net value of CoinDCX is US$1.1 billion has made this the first Indian cryptocurrency exchange unicorn in 2021. CoinDCX has also announced Amitabh Bachchan as the company's first-ever brand ambassador to promote cryptocurrencies in the domestic market. Though the Indian market still has some legal concerns over transactions with cryptocurrencies, this country is emerging as one of the top fastest-growing cryptocurrency markets in the world. This cryptocurrency exchange platform is determined to educate investors and potential investors and traders about this new cryptocurrency domain.
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