What are some strategies to minimize OTC fees when selling altcoins?

3 answers

• Dec 15, 2021 · 3 years ago
  One strategy to minimize OTC fees when selling altcoins is to find a reputable OTC desk that offers competitive rates. By comparing the fees charged by different OTC desks, you can choose the one that offers the lowest fees. Additionally, negotiating the fees with the OTC desk can also help in reducing the overall cost of the transaction. It's important to do thorough research and choose a reliable OTC desk to ensure a smooth and cost-effective transaction.
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• Dec 15, 2021 · 3 years ago
  Another strategy to minimize OTC fees is to consider using decentralized exchanges (DEXs) instead. DEXs allow for peer-to-peer trading without the need for intermediaries, which can significantly reduce fees. However, it's important to note that liquidity and trading volume may be lower on DEXs compared to traditional exchanges, so this strategy may not be suitable for large trades. Additionally, be cautious of the potential risks associated with DEXs and ensure you understand how to use them securely.
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• Dec 15, 2021 · 3 years ago
  At BYDFi, we recommend using limit orders on traditional exchanges to minimize OTC fees. By placing a limit order, you can specify the price at which you want to sell your altcoins. This allows you to avoid the fees associated with OTC transactions and take advantage of the liquidity provided by the exchange. However, keep in mind that there may still be some fees involved, such as trading fees and withdrawal fees. It's important to consider all the costs involved and compare them with OTC fees to make an informed decision.
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