Phemex Launches OTC Trading, Enables Crypto Purchase with Bank Transfers

Phemex, the fastest crypto exchange and futures trading platform has introduced OTC Trading service in partnership with Legend Trading — a Silicon Valley-based, regulatory-compliant OTC trading service. With this new addition, users on Phemex can now safely buy and sell cryptocurrencies through USD wire transfer as well as other options, including credit cards and supported payment gateways.

Listening to the Crypto Community’s Needs

As a user-friendly crypto trading platform, Phemex is always receptive to the crypto community’s needs and demands. The latest exercise to expand its offering to include OTC Trading is a result of such commitment. The platform received multiple requests from the community to include OTC Trading, which encouraged Phemex to forge a partnership with a licensed Money Services Business (MSB) to provide a safe and convenient solution.

Phemex

Now, users can start making use of the OTC Trading feature by completing few simple steps. They just have to log into their Phemex account, select OTC Trading under the “Buy Crypto” option, and provide some personal information to fulfill the KYC requirements. Once the provided information is reviewed and confirmed, Legend Trading will approve the account, following which, users are free to buy and sell cryptocurrencies in just two steps.

Even though two different entities are involved in providing OTC Trading services on Phemex, the whole process is streamlined to offer a seamless trading experience. The step-by-step guide to start using the OTC Trading feature is available on Phemex website.

OTC Trading Puts Phemex in the Lead

The OTC Trading service offered by Phemex enables users to conduct quick, high-volume crypto trades at good rates. The minimum order size on Phemex OTC Trading is just $500, making it accessible to both casual and professional traders alike.

Phemex is a FinCEN regulated entity that, combined with the newly launched OTC Trading service, makes it one of the few platforms eligible to cater to US investors’ demands. This opportunity puts the platform way ahead of many of its competitors like Bybit and others. Meanwhile, for Phemex, this is just the beginning as the trading platform will continue to develop and launch new products to keep up with the crypto community’s changing requirements.

Learn more about Phemex OTC Trading here