itBit Introduces OTC Agency Trading Desk for Orders Over 100 BTC

Bitcoin exchange itbit is opening an over-the-counter (OTC) trading desk, specializing in large transactions of over 100 bitcoins (currently equal to $27,600).

The exchange is looking to Leverage Leverage In financial trading, leverage is a loan supplied by a broker, which facilitates a trader in being able to control a relatively large amount of money with a significantly lesser initial investment. Leverage therefore allows traders to make a much greater return on investment compared to trading without any leverage. Traders seek to make a profit from movements in financial markets, such as stocks and currencies.Trading without any leverage would greatly diminish the potential rewards, so traders In financial trading, leverage is a loan supplied by a broker, which facilitates a trader in being able to control a relatively large amount of money with a significantly lesser initial investment. Leverage therefore allows traders to make a much greater return on investment compared to trading without any leverage. Traders seek to make a profit from movements in financial markets, such as stocks and currencies.Trading without any leverage would greatly diminish the potential rewards, so traders Read this Term its becoming the first bitcoin business to obtain a trust company charter from the New York Department of Financial Services (NYDFS), granting it permission to operate in all 50 states as a fully regulated financial services entity. With the boost to its reputation, it is now looking to woo large investors with a service paralleling that of regulated institutional OTC trading desks.

itBit says it will access the deep Liquidity Liquidity The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent Read this Term through its marketplace, enabling clients to get the best prices possible. It will also charge no fees, which normally range between 0.35% and 0.50% for market takers removing liquidity from the marketplace. It also says it will offer same-day settlement and a personalized, private trading experience.

As a promotion for the launch, the exchange is offering $50 in bitcoin to clients making their first OTC trade.

itBit currently ranks 6th among bitcoin exchanges in USD-based 30-day trading volume, according to figures from bitcoinity.org, and 10th globally in total volume (it also supports SGD and EUR trading). During the past 24 hours, 6,173 BTC ($1.7 million) have been traded, making up 3.4% of global volume.