Bitdorado isn’t yet open the way other crypto exchanges are, but parts of it are already opening, and OTC (Over-The-Counter) Trading is now available.

What this OTC in Crypto World, and specifically in Bitdorados case means is that you can send an offer to buy or sell some crypto coins, and bitdorado will send you an offer about what price they are willing to do the trade for.

Idea is that normally when we are talking of, especially, low volume coins, if you try to buy a bigger amount the problem is that the price goes up because there aren’t many coins on sale, or if you want to sell many at once, then the price goes down since likewise, there aren’t that many sellers either.

By doing Over-The-Counter trade you are doing the trade outside of any exchange and you will be doing the deal directly with Bitdorado. Hence your deal won’t affect the price since either the coins you are buying are not available through any exchange, but they are given directly by bitdorado from their big bag of savings not visible to anyone, or likewise, bitdorado will pay you euros directly from their pocket, in which case none of the sale orders available in exchanges are being filled, since once again, your coins will end up directly to bitdorados big bag of coins.

However, do notice that currently Bitdorado demands that OTC deals need to be valued at a minimum of 5 000 Euros to do them.

Notice also that if you are a Premium Member of Bitdorado, which should be available for 400 000 Telos now that the cheaper 200 000 Telos memberships to my understanding are already gone, then instead of asking an offer from Bitdorado, you can make the deal based upon Coingeckos current price.

And do notice, if you have one of the eligible bitdorado edition items, like bluebox bitdorado edition, you are not eligible for this membership OTC offer, since the bluebox you own is the member, not you yourself.

Bitdorados OTC-trading offer is available to both Buying and Selling, although the form shows only Buying as an option. But it doesn’t really make a difference since to sell for example TELOS against BTC, You just choose the “Buy BTC”-option and Buy them with TELOS, making it the same as selling your TELOS against BTC.

Available currencies to trade currently are:
TELOS, XBTX, AML, LEDLY, VEND, BTC.

FIAT currencies are planned to come to the mix in the already near future, but I guess that will depend upon getting licenses to do so first.