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What are the options for trading OTC on Robinhood with cryptocurrencies?

avatarEnemark HutchisonDec 27, 2021 · 3 years ago3 answers

Can you provide an overview of the available options for trading cryptocurrencies over-the-counter (OTC) on the Robinhood platform?

What are the options for trading OTC on Robinhood with cryptocurrencies?

3 answers

  • avatarDec 27, 2021 · 3 years ago
    Sure! When it comes to trading cryptocurrencies over-the-counter (OTC) on Robinhood, there are a few options available. Firstly, you can use the OTC trading desk provided by Robinhood itself. This allows you to trade large amounts of cryptocurrencies directly with Robinhood, outside of the regular exchange. Secondly, you can explore OTC trading services offered by other platforms or brokers that are compatible with Robinhood. These services act as intermediaries, connecting you with potential buyers or sellers of cryptocurrencies. Lastly, you can consider joining OTC trading communities or forums where you can connect with other traders interested in OTC transactions on Robinhood. Remember to do thorough research and consider the risks associated with OTC trading before making any decisions.
  • avatarDec 27, 2021 · 3 years ago
    OTC trading on Robinhood with cryptocurrencies is a convenient option for those looking to trade large amounts outside of the regular exchange. It allows for more privacy and flexibility in terms of pricing and execution. However, it's important to note that OTC trading may involve higher fees and risks compared to regular exchange trading. Make sure to understand the terms and conditions, as well as the counterparty risks involved in OTC transactions on Robinhood.
  • avatarDec 27, 2021 · 3 years ago
    BYDFi, a leading cryptocurrency exchange, also offers OTC trading services that are compatible with Robinhood. With BYDFi's OTC desk, you can trade cryptocurrencies directly with BYDFi, leveraging their liquidity and expertise. This can be a great option for those who prefer a trusted third-party for OTC transactions on Robinhood. Remember to conduct your own due diligence and consider the fees and risks associated with OTC trading.