Typical example of Escrow OTC trade

WHAT IS AN OTC TRADE?

Our Over-The-Counter (OTC) This is designed for a face to face real world meeting.

As one of our OTC desk clients, you will have access to one of our experienced team of brokers who will be on hand to guide you through the process

If you are looking to purchase large amounts of coins at a discount, we will look to match you up with a suitable counter party and transact in a safe method, as demonstrated in the diagram.

Escrow

Verification

Escrow verifies the Proof of Funds and Proof of Coin from the 2 parties.

Contract

Contracts with the terms of the trade are drawn up and agreed.

Transfer of funds

Buyer sends the funds to the Escrow

Transfer of Bitcoin

Seller sends the Bitcoin to the buyer.

Payment

Once confirmed, Escrow releases the funds to the seller.

Simple and Secure

This is quick, simple and secure method of OTC trade.

Bank transfer MT103 – 202 / 72

  1. Seller requires an initial Letter of Intent from the Buyer.
  2. Proof of Funds / Proof of Coin are exchanged.
  3. KYC/AML Due diligence carried out by both parties.
  4. Irrevocable Master Fee Protection Agreement agreed and signed.
  5. Purchase Agreement agreed and signed.
  6. Buyer sends funds to Seller *with a 202/72 clause as per contract.
  7. Seller receives funds and releases Bitcoin to Buyer.

In both examples listed above, transactions are usually commenced by an initial test transaction followed by tranches of between 1,000 – 10,000 Bitcoins per day, as per the Purchase Agreement until the initial contract amount is exhausted.