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OTC Trading Becomes a Hit in Canada, Likewise to Happen in India

Bitcoin Trade | OTC Trading | Cananda | India | Cryptocurrency trade

After grossing its highest value in 2017, the Bitcoin price market soon had to face unfortunate circumstances leading to almost 1/3rd drop in its price. Despite this, the demand for Bitcoin trading is not slowing down by any means. OTC trading is quickly growing in popularity, especially in Canada. It isn’t unlikely a similar trend will emerge in India over the next few months.

Now there are a number of ways to buy, sell, and trade Bitcoin. Using centralized exchanges is one of them, which is by the way, also approved by most governments. People who prefer a peer-to-peer approach often turn to OTC trading platforms. LocalBitcoins is now one of the best-known platforms which offers centralized facility all around the world. Buyers and sellers connect with one another in a direct manner to complete trades.

OTC trading is quickly gaining popularity in Canada now.

  • Last week, the volume has shot  well beyond what is considered normal. It should be noted that a lot of people prefer not to deal with exchanges directly. OTC trading is considered viable, as it offers a solution to exchange value in a different matter. The trading platform can incorporate virtually any payment method buyers and sellers plan to use.
  • With governments cracking down on cryptocurrency trading, consumers automatically look for alternative solutions. In an over-the-counter market, regulation is a non-issue, for the time being. Governments tend to exert rules upon centralized platforms, which is a bit more difficult where these OTC platforms are concerned. It is a positive transitioning step toward the use of completely decentralized exchange protocols.

OTC Trading in India

In India, the government’s stance on cryptocurrency is quite ruthelss. The Reserve Bank of India made it clear banks are expected to end support for cryptocurrency companies. Exchanges and trading solutions may find different ways to counter this solution, like third parry solutions.

For Indian consumers, OTC trading is an option worth exploring as well. With the demand for Bitcoin never slowing down, these “new” trading solutions provide more liquidity. This would lead to more trades taking place as well and then eventually boosting overall Bitcoin trading in India.

Governments cannot curb Bitcoin trading in any effective manner whatsoever. If centralized exchanges are no longer a convenient option, people will switch to OTC trading. Thus, in the future decentralized exchanges will be the only tool tomorrow.

KryptoMoney.com publishes latest news and updates about Bitcoin, Blockchain Technology ,Cryptocurrencies and upcoming ICO’s.

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