Since 2017 in, the Chinese government has banned using direct purchase digital currency of the trading platform services, but personal digital currency trading and investment is belongs to the gray area, in this environment many otc trading platform for demand, brokered transactions between individual and individual, implementation to buy currency and can sell for cash money extraction process.
Major trading platforms such as ZB, Huobi, OKEX and Binance all offer OTC services, which are channels for investing in digital currencies. Recently, CyberBank released an incentive policy for OTC merchants. All certified OTC merchants enjoy THE VIP4 treatment with zero fees for legal tender transactions.
If you want to become an OTC merchant, please pay attention to our information below.
What is an OTC merchant and how does an OTC merchant make money
OTC merchants provide liquidity to CyberBank's fiat currency trading zone. When a platform user wants to buy digital currency, an OTC merchant ACTS as a seller. When a platform user wants to sell a digital currency, an OTC merchant ACTS as a buyer. An OTC dealer makes a profit on the difference in price between an offer and an offer.
For example, if a user wants to make gold (cash), the price of the stability currency USDT is 7.01CNY. After OTC merchants buy USDT at this price, they sell it to the user who wants to complete the gold (coin) entry process. The price is 7.03CNY.
The global mainstream trading platform trades more than 3 billion RMB per day. Although OTC transactions cannot be directly calculated based on this, it can be imagined that even 1USDT generates 0.02 profit, the total plate profit is not small.
Conditions for becoming a CyberBank OTC merchant
There are two types of CyberBank OTC merchants: regular merchants and certified merchants.
Requirements for becoming an ORDINARY OTC merchant:
- You need to register as a member
- Passed advanced real-name authentication
- Complete the mobile phone number authentication and email authentication
- Apply to become an OTC merchant
- Prepare the information and video of application for becoming an OTC certified merchant, and send to the designated email: info@cyberbank.co
- Funds shall be transferred to the legal tender account
- Lock 5000USDT as the merchant's deposit
Apply for link：https://otc.cyberbank.co/el_GR/companyApplication
Conditions for becoming an OTC super merchant
- Apply to become an OTC merchant first
- Lock 10000 USDT as the merchant's deposit
- Become a super business after all the reviews are passed
* Merchants only support PC applications!