Question 1

What is Spot OTC trading?

Accepted Answer

Spot OTC trading is an over-the-counter (OTC) trading model that allows direct peer-to-peer transactions between buyers and sellers, conducted at a price set by the user who posts the order.

Question 2

What are the advantages of Bitget Spot OTC trading?

Accepted Answer

While on-chain trading can be expensive, complex, and less user-friendly for certain coins, Bitget Spot OTC trading eliminates these issues. For instance, when trading BRC-20 assets, there's no need to worry about inscription packaging, high miner fees, or waiting for block confirmations.

Question 3

If I want to sell my coins through the Spot OTC market, what steps should I take?

Accepted Answer

As a seller, the process involves initially depositing your coins on-chain to Bitget. Then, you can list your coins in the market at your desired price by placing an order. Alternatively, you can directly find a buy order in the market and sell your coins at the buyer's designated price. Upon partial or full fulfillment of your order, the USDT revenue, net of fees, will be credited to your spot account.

Question 4

If I want to buy my coins through the Spot OTC market, what steps should I take?

Accepted Answer

As a buyer, you need to start by ensuring you have some USDT in your spot account. When placing an order, set the quantity you wish to buy at your preferred price and list the maker order in the order market. Bitget will then lock the funds for the purchase and cover any fees. Alternatively, you can directly find a sell order in the marketplace and buy the coins directly at the seller's designated price. Upon successful purchase, the corresponding amount of coins will be credited to your spot account.

Question 5

Do I have to fill the whole sell/buy order at once?

Accepted Answer

No, Bitget allows you to trade any quantity of coins as long as it meets the minimum transaction limit.

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