Crypto giant Binance has launched its Over-the-Counter (OTC) service, Block Trading. The service will allow customers to trade larger amounts of cryptocurrency above 10 BTC quickly and securely.
OTC trading helps reduce the risks of suffering a price slippage. This is because using an order book for trading a larger sum will affect the market price of the coin or token. That, in turn, impacts the execution level of the order. The block trading will offer seamless and faster transactions and a personalized service giving each user a unique block trade. The customers can discuss trades and the general market directly over chat with the Binance Team. Additional features include access to over 150 cryptocurrencies on the platform, quick pricing process, automated quoting service for “qualifying” users. The service also reduces counterparty risk as all transactions are made within the Binance platform.
Binance continues to unveil new features to improve users’ experience on its platform with the launch of block trading. Recently, Binance introduced its margin trading service. It allows trading with borrowed money on the exchange.