Localethereum: OTC Trading Notes

The so-called over-the-counter transaction refers to the trading activities conducted by investors other than through exchanges. It is essentially a transaction between users, that is, a point-to-point transaction. Transactions (buying or selling) with digital currencies such as RMB and USD must be conducted through over-the-counter transactions.

In Europe and the United States, some traders connect with their trading needs on platforms like Telegram and then conduct offline transactions, but small over-the-counter transactions are basically completed online.

Cryptocurrency speculation is actually very similar to stock speculation, both of which are a way to buy at a low price and sell at a high price to earn a profit difference.

The general model of OTC transactions on Localethereum is as follows:

1. The buyer selects a seller with a lower price on localethereum and checks its reputation rate. Try to choose a seller with a high reputation. After a conversation, the transaction is reached. The buyer directly transfers the money to the other party's bank card or Alipay account. However, the disadvantage of this is that if the seller is not online when the buyer pays, the release time will be delayed. In addition, if the seller does not confirm the payment after the payment, you should file a complaint on localethereum in time to protect your rights and interests.

2. The buyer posts the amount and price of ether he wants to buy on localethereum. If the seller sees this and thinks the price is right, he will contact the buyer through the platform and complete the transaction. Here, localethereum plays the role of distributing supply and demand information. Both buyers and sellers can choose their preferred trading partners based on the information. In addition, the platform will verify the identities of both buyers and sellers, and the transaction security is relatively reliable. In case of disputes in the sale, the platform can also be consulted for arbitration.

However, it should be noted that although localethereum will authenticate both buyers and sellers, do not easily trust sellers who mark prices too low, because buyers who are greedy for small bargains often get defrauded of their money. In addition, do not give your private key to anyone, even if he claims to be a platform manager. More importantly, do not trust the screenshots of transfers. It is better to wait for the system prompts than to release ETH in advance because of a screenshot of a transfer transaction that may be P.

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This article is for commercial promotion only and does not represent the position of Wabi.com. Cryptocurrency is a high-risk industry. Please invest with caution. We are not responsible for any losses!