Tokenomica, a Malta-based bitcoin and cryptocurrency exchange, today has announced the launch of a new OTC trading desk which includes a BTC-to-Euro trading market.
The new OTC desk provides an opportunity to trade larger amounts directly with Tokenomica without having to go through public order books in compliance with crypto regulation in Malta. Accepted transaction volume is between 5 to 50 BTC with a 0.75% fee.
All other crypto-assets available on Tokenomica are also available for OTC trading. Deposits and withdrawals can be completed using SEPA and SWIFT payment systems and go directly to and from the customer’s bank account. Additionally, Tokenomica includes a deal confirmation for each trade which can serve for tax, compliance, or other regulatory requirements.
How it Works
The whole process of completing the trade consists of 5 steps. See below an example of trade using the BTC-Euro market.
Step 1. Apply for the Trade
During the first step, the client will be asked to identify the desired trading pair and amount to be traded with us. After that, Tokenomica’s representative will contact a client back in order to confirm the possibility of the deal.
Step 2. Sign a contract
After the completion of the first step, a client will be asked to sign a contract with Tokenomica indicating key details of the trade. The whole process might take up to 1 business day.
Step 3. Chain analysis of your wallet
After the contract is signed, the Tokenomica team will perform the chain analysis of the customer’s wallet. The process will take about 15 minutes.
Step 4. Negotiate the trade using Telegram chat
As the fourth step, Tokenomica’s representative will create a Telegram chat in order to negotiate the last details of the deal. As soon as the final terms are negotiated, Tokenomica will start the completion of the trade.
Step 5. Settlement
The last step depends on the chosen asset pair. As we have stated before, we will showcase the process for the BTC – Euro pair as an example. The settlement consists of two steps:
Transaction of BTC to Tokenomica’s wallet address.
The settlement time is based on the transaction speed in the Bitcoin blockchain.
Transaction of the Euro to the client’s bank account.
- The settlement time will depend on the chosen payment system.
- T+1 for payments using the SEPA system, T+2 for payments using the SWIFT system.
