OTC, known as Over-The-Counter, is where cryptocurrency is traded through a dealer peer to peer network rather than through a centralized, formal exchanges such as, Coinbase, Gemini, Huobi, Binance; or even decentralised exchanges such as Waves, Tidex and CryptoBridge. OTC trading has no physical location and all trading is done electronically.
SwapFox offers the services of an Over The Counter (OTC) Trading Desk for open source cryptocurrency and encryption coin, EOT. Through the SwapFox trading desk, traders and investors will be able to access digital currency liquidity without affecting the exchange market price. For more information, visit their website – SwapFox.me
The cryptocurrency market could be controlled by big investors called “whales” and as a result, many of the large buys of cryptocurrency are bought via OTC trading desks. Many traders wish to make larger trades directly with a counterparty without having to go through the public order books. OTC trading provides the liquidity to accommodate the needs of these larger buys or cryptocurrency “whales”.
EOT is one of the few cryptocurrencies that have a strong use case. Cryptography as a payment system, and to encrypt and validate data.
EOT, Encryption of Things, was developed specifically for the encryption of devices and things connected to the internet, IoT. Gartner predicts that more than 30 Billion “Internet of Things” devices will be connected to the internet by 2020 and that 95% of all new products will contain IoT. All internet connected devices and things will need security as cybercrime is trending upwards. A cybersecurity solution for IoT is to use cryptography for encryption, namely EOT, and the blockchain. As the saying goes… “IoT needs EOT“.
More about EOT enabled products:-
EOT, for encryption and storage, has already been introduced into various products such as the world’s first blockchain phone, BitVault®; secure hardware wallet device, Swiss Bank in Your Pocket; and the most secure cryptocurrency software wallet, Embedded Vault. The Embedded Messenger is planned for release in April 2018. No doubt the list of EOT enabled products is set to increase.
Source and OTC Trading Desk: SwapFox.me
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