BTSE, a bitcoin and cryptocurrency exchange company, today announced a new tool that makes the access to OTC trading easier with the BTSE OTC RFQ (Request for Quote).
This new tool will allow traders to obtain a quote on a fixed and agreed-upon price before purchase, enabling movement through larger orders without drastic price changes. Traders are often impacted by price ‘slippage’ when executed prices differ from expected prices.
Users can leverage BTSE’s multi-currency support of crypto and fiat to easily buy and sell cryptocurrencies via OTC. BTSE also allows businesses to leverage their APIs as a liquidity provider for ease of use and higher speed.
“BTSE’s OTC RFQ is a useful tool for investors, traders, business partners, and commercial players who want to leverage BTSE’s services as a liquidity provider. It’s currently difficult to confirm prices before actioning trade activity, but with an instant RFQ, users can determine the price before they make a purchase,” said Jonathan Leong, CEO of BTSE.
The new tool makes OTC orders more accessible and easier to navigate than ever before, with BTSE users now able to buy and sell order requests and receive quotes directly through their dashboard.
A highlight of this new feature is the low minimum order value of USD $1 and a high limit of USD $100,000. Other exchanges have limits as low as $2,000 and as high as $20,000, making BTSE’s OTC RFQ more accessible than conventional OTC services.