OTC (Over-The-Counter) trading refers to the direct exchange of cryptocurrencies between two parties — usually individuals or institutions — without going through a public exchange. Instead, these transactions are arranged privately through brokers or messaging platforms such as Telegram or WhatsApp.
Unlike centralized exchanges where prices and processes are standardized, OTC trading allows both parties to freely negotiate the price, payment methods, and transaction volume. This flexibility makes OTC a popular choice among large investors, high-net-worth individuals, and “whales” who prefer to avoid market slippage or drawing attention to their trades.
Advantages of OTC Trading
1. Flexible Pricing
OTC traders are not restricted by publicly listed market prices. Both sides can negotiate optimal rates, which is especially useful during times of high market volatility or when local demand differs from global pricing.
2. Potential for Better Deals
For large trades, direct negotiation can significantly reduce spreads and transaction fees — offering better financial outcomes than using public exchanges.
3. Suitable for High-Volume Transactions
Public exchanges may not have enough liquidity to handle large orders without affecting the market price. OTC trading solves this by allowing large trades to be executed discreetly and efficiently.
Disadvantages of OTC Trading
1. High Risk of Fraud
Without a trusted intermediary or escrow service, OTC deals can be prone to scams such as fake receipts, payment reversals, or non-delivery of assets after payment.
2. No Built-in Protection
Unlike P2P platforms or centralized exchanges that provide dispute resolution mechanisms, OTC trades are informal and unprotected. If something goes wrong, there are limited options for recovery.
3. Trust Is Everything
Finding a reputable and trustworthy counterparty is crucial in OTC trading. This often requires strong industry connections, careful background checks, or personal referrals — all of which can be barriers for newcomers.
OTC Too Much Work? Azasend Has a Smarter Solution
While OTC trading offers flexibility, it also brings along plenty of headaches — delayed payments, frozen bank accounts, unresponsive counterparties, and constant risk of disputes.
Azasend removes all that hassle.
Instead of waiting for a seller to reply or risking a bad trade, Azasend allows you to buy, sell, and convert crypto directly to your bank account — instantly and securely.
What Makes Azasend Better Than OTC?
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Instant NGN withdrawals — typically processed in under 5 minutes
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No risk of disputes, scams, or frozen accounts
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No need for P2P negotiation or price matching
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Simple KYC process — no full ID required
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Fully automated and available 24/7
If you’re tired of the delays, uncertainty, and effort required in OTC trading, Azasend is the faster, safer, and more convenient way to move between crypto and fiat — especially in Nigeria.
How to Buy / Sell / Convert Crypto with Azasend
Sign Up
Sign up or log in to your account on the Azasend website/app.
Buy / Sell / Convert
Choose your crypto and fiat pair, enter the amount, and confirm the transaction.
Choose a Payment Method
- Bank Transfer: Send or receive fiat directly through your bank account. (Upload receipt for purchases / Confirm receipt for sales.)
- Azasend Wallet: Enjoy ultra-fast transactions using your Azasend Wallet — just tap to confirm, no receipt needed. Your funds stay securely in your wallet, ready for quick reinvestment whenever you need.
Frequently Asked Questions (FAQ)
1. What is OTC crypto trading?
OTC trading is a private, direct exchange of crypto between two parties without using a public exchange. Prices and terms are negotiated manually.
2. Who typically uses OTC trading?
Large investors, institutions, and crypto “whales” often use OTC to avoid slippage and keep trades discreet.
3. What are the risks of OTC trading?
OTC trades lack built-in protection and are prone to fraud, fake payments, and trust issues without an escrow or third party.
4. How is Azasend safer than OTC?
Azasend automates the entire process, offers verified transactions, and protects users from disputes, scams, and frozen accounts.
5. Can I use Azasend for large crypto-to-fiat conversions?
Yes. Azasend supports high-volume trades with instant NGN withdrawals — no manual negotiation or delay required.
