In the traditional financial system, buying Bitcoin can be a complicated and time-consuming process. First, you have to find a reputable exchange that supports your country of residence and offers the right payment method.

Then, you have to go through the process of verifying your identity and linking your bank account. And finally, you have to wait for the exchange to process your order and deposit the Bitcoin into your wallet.

The process is even more complicated if you want to buy a large amount of Bitcoin. Most exchanges have strict limits on how much you can buy per day or week.

And if you want to buy more than that, you often have to go through a lengthy and complicated process called “Know Your Customer” (KYC).

But what if there was a way to bypass all of these problems? What if you could simply walk into a store and purchase Bitcoin like you would any other product?

This is where Over-The-Counter (OTC) exchanges come in.

OTC exchanges are businesses that allow people to buy and sell Bitcoin without having to go through a traditional exchange. Instead, they match buyers and sellers directly and let them trade directly with each other.

This has a number of advantages:

It’s fast: OTC trades are usually processed much faster than trades on traditional exchanges.

It’s convenient: You can often buy or sell Bitcoin directly from the OTC exchange’s office or online platform. This is much easier than having to go through the process of setting up an account on a traditional exchange.

You can trade large amounts: OTC exchanges don’t have the same limits as traditional exchanges, so you can usually trade larger amounts of Bitcoin. This is ideal for people who want to buy large amounts of Bitcoin without going through KYC.

It’s private: OTC trades are often done in person or through an online platform that doesn’t require KYC. This means that your trade is private and doesn’t have to be reported to any government entity.

Despite these advantages, there are also some disadvantages to using an OTC exchange:

It’s expensive: OTC exchanges typically charge higher fees than traditional exchanges. This is because they offer a more convenient service and don’t have the same economies of scale as traditional exchanges.

It’s risky: OTC exchanges are not regulated like traditional exchanges. This means that there is no guarantee that you will receive your Bitcoin or that the price will be fair.

You should only use an OTC exchange if you are comfortable with this risk.