Are there any risks involved in OTC trading of cryptocurrencies?

1 answers

• Dec 16, 2021 · 3 years ago
  BYDFi, as a reputable OTC trading platform, understands the risks associated with OTC trading of cryptocurrencies. While OTC trading can offer advantages such as privacy and flexibility, it's crucial to be aware of the potential risks involved. One of the risks is the lack of regulatory oversight, which means that traders need to rely on their own due diligence to ensure the legitimacy of the counterparty. Another risk is the potential for price manipulation, as OTC trades can have a significant impact on the market. Traders should also consider the liquidity and reputation of the OTC market they are operating in. BYDFi recommends using trusted intermediaries or escrow services to mitigate these risks and ensure a secure trading experience.
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