An executive believes that OTC trading in cryptocurrencies will become more popular as a result of the flop of FTX.


As investors explore alternative crypto exchange methods due to their lack of confidence in cryptocurrencies, the FTX meltdown may increase demand for cryptocurrency OTC services.


Over-the-counter (OTC) trading was the preferred method for many cryptocurrency investors to buy or sell cryptocurrency before centralized exchanges (CEXs) began.


Due to the FTX crash, investors have less confidence in CEXs and may seek

explore alternatives for converting money between fiat and cryptocurrencies.


This could result in a greater demand for crypto OTC services. While Cointelegraph spoke with Best Change, a Russian aggregator of OTC crypto exchanges, about the present situation Nikita Zuborev, a chief analyst at Best Change, also stated that the impact of OTC is sometimes

overlooked amid the all-encompassing marketing of centralized exchanges.


The executive claims that OTCs are a gateway into cryptocurrency for most customers. Zuborev told Cointelegraph to announce that Best Change users commonly use OTC exchangers or portals that serve as fiat onramps to crypto to buy more cryptocurrency or sell their existing cryptocurrency.


There is no such option in Eastern Europe and Central Asia, and exchangers remain. It is the only practical way to work with cryptocurrencies, according to Zuborev. Imagine that convenient conducts of trustworthy replacement from a bank card are available for the nations of Central Europe and North America and that these conducts are currently targeted towards the countries of Eastern Europe and Central Asia. Then, he added, there are only so many of those possibilities.


The executive also noted that recent market developments might benefit the crypto OTC market.


 2023 may mark a turning point in the decentralization process and the rapid growth of decentralized applications.


BestChange, founded in 2007, provides crypto-to-fiat transactions using services like PayPal, Payoneer, Skrill, and others. As well as Visa and MasterCard credit and debit cards, BestChange intends to progressively relocate its corporate headquarters from the Russian Federation, where it currently operates, to Dubai.


The President emphasized that BestChange has intended to expand outside of Russia for some time; thus, the relocation has nothing to do with the country’s existing geopolitical challenges or other problems.


Zuborev also believes BestChange doesn’t expect sanctions-related pressure from the international community. He added that our business format does not require money management, and the UAE remains unbiased in geopolitical affairs. He said that OTC crypto exchangers listed on BestChange are situated in central or the Baltic regions and must adhere to regional laws.


What is an OTC Crypto Desk?


OTC or over-the-counter trading is a crypto trading system naturally reserved for organizations and high-volume traders. In traditional investing, OTC desks perform great trades for huge buyers who want essential liquidity.


In crypto, OTC platforms work also and typically contain a white-glove facility for high-net-worth customers and institutes such as banks, hedge capitals, and family workplaces. OTC platforms typically convey liquidity for huge trades constructed on agreed-upon terms and prices, and they also act as an escrow service for large transactions among parties.


How does OTC Trading Crypto Work?


Most OTC counters need consent to trade and implement trade minimums that jump in the 5-6 figure range. And these stages also have individual account representatives assigned to clients. Clients choose between trade, selling, borrowing, and keeping services for most platforms.


OTC desks often connect customers and traders for trades on a case-to-case basis. Many larger platforms, though, exclusively ones that also sustain a traditional exchange (such as Coinbase and Kraken), will also have an available pool of liquidity that can be used to complete immediate trades, much like a legitimate cryptocurrency exchange.


In the world of cryptocurrencies, OTC desks have become increasingly popular with those willing to sell large quantities of coins, such as miners or early cryptocurrency investors. On the other hand, many well-known investors are eager to purchase cryptocurrency outside the framework of significant exchanges.


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