A Bitcoin OTC trade is a BTC transaction arranged directly with a desk under agreed quoted terms. Start with whether you want to buy or sell, the quantity or budget, your quote currency and settlement requirements. Confirm that the provider supports the proposed trade.

Should you describe a BTC quantity or a cash amount?

State which amount is fixed. Buying a specified quantity of BTC differs from spending a specified cash budget. For a cash budget, ask whether it includes all costs. For a fixed BTC quantity, ask for the full amount payable or receivable in the agreed currency.

Give the desk your preferred timing and clarify whether a quote is only indicative or ready to accept. A first enquiry does not fix the BTC price.

What belongs in the Bitcoin quote?

  • The exact BTC quantity and trade direction.
  • The settlement currency and total amount.
  • Any costs not already included in the quoted price.
  • Quote expiry and the acceptance process.
  • Funding and asset delivery arrangements.

Compare equivalent transactions. A price for a different amount, currency or delivery arrangement may not describe the same trade. The quote comparison tool can help check arithmetic using your figures.

What should you confirm about the destination?

Confirm whether delivery is to an account or an external wallet. Verify the asset and network in the agreed instructions. Do not assume a wrapped token or another network’s BTC representation is interchangeable with the agreed asset.

For a sale, confirm the approved funding destination before sending. For a purchase, check the receiving address and the provider’s confirmation process. Keep private keys and seed phrases private.

Does a Bitcoin transfer complete immediately?

No fixed timing should be assumed. Confirmation requirements and network conditions affect the transfer, and an account credit can differ from delivery to an external wallet. Agree the settlement standard with the desk rather than treating the broadcast of a transaction as completion.

Bitcoin’s price can also change substantially. OTC execution does not remove price, counterparty or transfer risk.

How do you discuss BTC with Lumora?

Prepare an enquiry with your proposed quantity or budget, direction, currency and timing. Our team must confirm BTC availability, eligibility and the terms of the proposed transaction. This educational guide is not a listing guarantee.

Read the settlement guide before transferring funds or assets.

Bitcoin reference

Bitcoin.org: things you need to know covers volatility, transfer security and confirmations.