DEEX OTC desk

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    OTC (Over The Counter) trading desks are a popular alternative to the exchanges. There are different cases when traders might need them:

  1. Liquidity. Let’s say a trader needs to sell or buy large volumes at a certain price. On a crypto exchange it is sometimes hard to do, since a trade might affect the order book and the exchange rate.The same is true in case if a trader does not want to influence the asset price and drop it down by selling large volumes. OTC trades do not impact the exchange rates directly;
  2. Anonymity. If to compare with centralized exchanges, OTC trades let traders to sell large volumes staying anonymous and not providing any personal information to third parties.

There are a lot of popular OTC solutions on the market, to mention a few – LocalBitcoins, Coinmama, Bestchange, etc. Moreover some popular exchanges have their own OTC desks as an additional solution for the exchange clients.

DEEX does also have its own OTC desk

DEEX OTC desk

DEEX OTC desk helps its clients to find a counterparty to sell/buy Ether for fiat. Why Ether? The reason is simple. The main goal of DEEX Ecosystem is to create an environment of decentralized solutions. That is why the DEEX OTC is built on Ethereum smart contracts and do not involve middleman custody, making it a decentralized OTC working on the most popular blockchain protocol with smart contracts.

To start trading with DEEX OTC you need to have Metamask – an Ether wallet working as a browser plug-in. After you are logged in to Metamask, you ask the DEEX OTC to log you in the system.

To start trading with DEEX OTC you need to have Metamask - an Ether wallet working as a browser plug-in

Than you can either post your own offer or go to the “Marketplace” to look for the best offer. All the offers are ranged by the payment methods and by the locations, so you can pick up the one that is close to you or fits your payment method criteria. After the offer is picked, you send a deal request to the seller and negotiation starts. The seller accepts the offer and deposits ETH, than you make a payment and mark the order as paid. After the seller confirms your payment you get ETH from the contract.

Than you can either post your own offer or go to the “Marketplace” to look for the best offer

When you put your own offer, you just select the amount of ETH to sell and set the price and money transfer parameters. The price could be variable and connected to the price of ETH on one of the popular exchanges.

The price could be variable and connected to the price of ETH on one of the popular exchanges

After the offer is created, you just wait if any of the buyers pick it and start the negotiation. The following process replicates the “buy” scenario, though from an opposite angle.

How DEEX OTC is different from other solutions on the market?

    DEEX OTC has several advantages over other solutions on the market:
     

  • Reasonable fees. Using DEEX OTC is much cheaper than buying crypto with a credit card with a 5—10 % fee. We only charge 1 %, and you don’t pay extra in case of a dispute resolution.
  • Secure deals. Ether coins are transferred through smart contracts, or programmable vaults, not through direct payments to the counterparty. In case of a dispute, you can use our arbitration service.
  • Completely decentralized. The smart contracts that our service generates for you are signed with your private keys. You pay or get paid using your Metamask wallet. We never ask for the keys or store your funds.

So how this is different from the most popular market solutions?

So how this is different from the most popular market solutions

As you can see DEEX OTC trade is cost-effective and secure due to its decentralized nature.

Децентрализованная криптобиржа

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