Leading crypto exchange Binance continues to unveil new features to improve users’ experience on its platform.
The exchange announced Friday its Over-the-Counter (OTC) service dubbed “Binance trading” that allows customers to trade larger amounts of cryptocurrency – above 10 BTC – quickly and securely.
According to Binance, the OTC trading helps to mitigate the risks of suffering a price slippage since using an order book to trade larger sum affects the market price of the coin or token, which in turn impacts the execution level of the order.
Binance Trading offers not only seamless and faster transactions but also a personalized service that gives each user a unique block trade. Customers can discuss trades and the general market directly over chat with the Binance Team.
Other benefits of the block trading services include: access to over 150 cryptocurrencies on the platform, quick pricing process, a simple process that takes between 1 to 2 minutes, automated quoting service for “qualifying” users, and reduced counterparty risk as all transactions are made within the binance platform.
Interested users are expected to have a Binance account with a Level 2 verification or above and must have traded at least 10 BTC. Users should also have access to messaging apps like Telegram or Whatsapp for communication with the Binance team.
2019 has been an excellent year for Binance so far, as the exchange keeps unveiling new features. With plans to debut in South Korea and the US, Binance recently introduced its margin trading service that allows trading with borrowed money on the exchange which yields higher profit potential, however with greater risk.