Ask SN: which OTC did you tried? \ stacker news ~bitcoin

3449 sats \ 34 comments \ @DarthCoin 25 Mar bitcoin

I am asking for a friend that wants to do a large transaction to buy BTC, using an OTC.

Please, if you used in the past such services, post them here, including your experience (bad or good). If you do not want to reveal your SN nym, post it as "anon" please.

I am just gathering some info for my friend. Will zap each good answer.

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210 sats \ 3 replies \ @kristapsk 25 Mar

Hodlhodl.com and personal contacts, you can have both good and bad experience, depends on the counterparty. But hodlhodl.com adds some safety due to 2-of-3 multisig escrow during the contract.

10 sats \ 2 replies \ @DarthCoin OP 25 Mar

It have to be more private not in public market listing, due to large amounts.

300 sats \ 1 reply \ @cointastical 25 Mar

Almost none of the OTC brokers on the list below are KYC free, as most "OTC Desks" today are just normal exchanges, or miners, etc.

https://cointastical.medium.com/bitcoin-crypto-otc-trading-desks-7f77276c6dc

If you asking about KYC Free, then essentially find a seller on a KYC free P2P and in the chat negotiate for the larger amount, the seller can create a new offer that is hidden to all except you, with your terms (that you had negotiated).

https://cointastical.github.io/P2P-Trading-Exchanges/

Lots of scammers out there ... Caveat emptor.

100 sats \ 0 replies \ @DarthCoin OP 26 Mar

Thanks, is a good answer.

410 sats \ 1 reply \ @mo 25 Mar

deleted by author

0 sats \ 0 replies \ @DarthCoin OP 25 Mar

Very good! Thanks.

11 sats \ 4 replies \ @mango 25 Mar

Adding country would be helpful I guess. I know one in India!

100 sats \ 3 replies \ @DarthCoin OP 25 Mar

Yes, I forgot to mention that. The exchange must accept USD.

21 sats \ 2 replies \ @BlokchainB 25 Mar

Ahh yes need that fiat to make this exchange. I thought dollars were for pussies

30 sats \ 1 reply \ @anon 25 Mar

friends with pussies are ok

0 sats \ 0 replies \ @DarthCoin OP 25 Mar

10 sats \ 2 replies \ @expatriotic 26 Mar

I feel like at the moment, HodlHold is the best way to get large amounts of sats. I regularly use it to get my monthly stack after my fiat job pays me.

21 sats \ 1 reply \ @DarthCoin OP 26 Mar

We are talking about large amount of BTC not sats... like 20-50K BTC. Hodlhodl is good, but keep in mind some aspects:

who want to buy such large amount, do not want to influence the market price with several buy orders
on hodl there's not such large offer to sell

This type of txs must be done in private OTC (over the counter) with large providers, not just some plebs with few BTC.

0 sats \ 0 replies \ @expatriotic 26 Mar

Fair enough, I don't buy in the >1 BTC range.

10 sats \ 11 replies \ @WeAreAllSatoshi 25 Mar

I don’t have experience with any, but I am curious about the estimated size of the transaction. How much are we talking about? 10 BTC? 100? 1000?

45 sats \ 10 replies \ @DarthCoin OP 25 Mar

Let's say between 20-50k BTC It doesn't have to be all at once.

10 sats \ 5 replies \ @030e0dca83 25 Mar

Oh my... I wish about million sats while Darth is talking about thousands of Bitcoin. We're not the same

8 sats \ 4 replies \ @DarthCoin OP 25 Mar

hehehe not mine.

10 sats \ 3 replies \ @030e0dca83 25 Mar

Anyway. I'm amazed someone this days except Saylor can afford more than One Full Bitcoin

103 sats \ 2 replies \ @DarthCoin OP 25 Mar

LOL Saylor is just a small worm man... peanuts. You have no idea how many others have 10x more than Saylor, from long time ago. Saylor is late to the party, is just taking the crumbs,

131 sats \ 0 replies \ @anon 25 Mar

well there can't be more than 6 or 7 with 2m+

0 sats \ 0 replies \ @030e0dca83 25 Mar

Xactly. I'm late on this party that's why sometimes I don't believe eyes when read stackerNews

0 sats \ 0 replies \ @clownworld 26 Mar

deleted by author

0 sats \ 1 reply \ @badabing 25 Mar

Well done, Darth.

0 sats \ 0 replies \ @DarthCoin OP 25 Mar

I've done nothing. Just asking for a friend.

0 sats \ 0 replies \ @mango 25 Mar

👀

10 sats \ 4 replies \ @ch0k1 25 Mar

Does P2P services count as an OTC?

0 sats \ 3 replies \ @DarthCoin OP 25 Mar

OTC is kind of P2P, but are you able to handle a large transaction? This is not about 20 bucks, or 1BTC, is about LARGE amount.

0 sats \ 2 replies \ @ch0k1 25 Mar

Ok then I'm this case I guess P2P option will pose a big threat or at least uncertainty.

50 sats \ 1 reply \ @DarthCoin OP 25 Mar

These kind of large transactions you can't do them on a P2P exchange and you cannot do them in the street !

These are a serious thing and must be done in total privacy and also to not affect the market price. Usually are done with brokers or large miners.