Post
Topic
Board Currency exchange
Re: How to buy and sell Bitcoin ?
by
DigitalMonk
on 19/08/2022, 11:41:31 UTC

My platform is fully competent with legal transaction criteria. Therefore it protect the sellers and buyers from get scammed. Always buy or sell Bitcoin to known person is better. But in corporate level you need a solicitor to conduct the commercial transaction. Even though there is transaction fees as well as legal fees but it is secured.


I was enjoying reading the above points since they are legit suggestion until I come up to this part of the content which I didn’t except since I thought this will be just a tip thread.

Why people need 3rd party like your platform to be a middleman on transaction while they can use huge exchange like Binance to buy and sell without experiencing hassle on finding a person to deal with. Binance offers OTC trading which provides deeper liquidity for huge investment.

https://www.binance.com/en/blog/all/otc-basics-by-binance-trading-337068226927206400

Binance or all other exchanges are third party, where you have fully trust and send your coins in their disposal. It is very same like Mt.Gox. Bitcoin was designed to make P2P transaction but for secure fiat payment for purchasing btc need a competent legal intermediatory for corporate bitcoin transaction.

OTC is good way to make transaction but customers or big investors need full information and complete satisfaction for their trade. Therefore a proper intermediation is require for that transaction where the sellers  ot buyers  do not need to send their funds to an exchange like that of Mt Gox to get scammed. Therefore a better option is better than the Binance. You have no clues of the future of Binance.

I am a digital Monk, and I do have complete knowledge about everything Bitcoin and Cryptocurrency.

If I want to buy Bitcoin it is better for me to buy from friends or known person. If I want sell my Bitcoin, it is better for me to sell it from my own wallet to some one who want buy it, instead transferring my btc to exchanges to get scammed.