What is OTC in crypto trading?

When we discuss OTC trading in crypto, we refer to large transactions conducted directly between two parties, with no public order book and no visible bids. Think of it like a private negotiation, but for digital assets. You use an OTC trading platform or even a specialised OTC trading app to get matched with a buyer or seller, agree on a price, and settle without spooking the market.

How to buy crypto OTC?

If you're buying through OTC trading, the first step is to pick a trusted OTC trading platform or OTC trading app that's registered and well-reviewed. You'll undergo a quick KYC check, then inform the desk of your purchase preferences including price, quantity, time of proposed trade and any other relevant information. They'll share a quote which is usually valid for a short time, and once you agree, you transfer funds and the trade is settled at that locked price.

Is OTC trading legal in India?

Yes. There is no prohibition on OTC trading in India when it’s done through an FIU registered OTC trading platform and follows full KYC and AML procedures. The safest route is to trade only with desks that meet these standards and can show proof of registration.

How does OTC trading work?

With OTC trading, large crypto deals are arranged directly between buyer and seller, usually through an OTC trading platform or desk. The two sides agree on the rate beforehand, the trade is executed away from public order books, and settlement is handled quickly to avoid price movement. CoinSwitchX is merely acting as an intermediary to facilitate OTC trades.

Is OTC trading safe?

Yes, when done with a reputable OTC trading platform or OTC trading app that uses strong compliance checks, secure channels, and guaranteed settlement terms.

How to deposit in INR?

On an OTC trading platform, deposit INR via supported banking channels after KYC verification. Most OTC trading apps offer NEFT, RTGS, or IMPS options.

How to withdraw in INR/Crypto?

Withdraw INR/Crypto from an OTC trading app or OTC trading platform to your verified bank account in your name. Processing times are usually instant or within a few hours.

Are there any trading fees?

Every OTC trading platform prices trades a little differently. Many build their fee into the quoted rate, while others add a clear service charge on top. Before you confirm a deal on your OTC trading app, look closely at the final quote — that's where you'll see the all-in cost.

Is TDS applicable on sell orders?

Yes, under Indian tax laws, every sale of VDA attracts 1% TDS. Since OTC trades involve selling of VDA, CoinSwitchX will deduct 1% TDS.

What are the compliance checks taken by CoinSwitch?

Parties involved in a trade must warrant that they are not sanctioned, have no history of fraud or corruption, and have not been suspended, debarred, or deemed ineligible for procurement programs. All funds used for the trade must belong solely to the user and not be solicited from any third party. For registered entities, they should undertake trading activities in accordance with its constitutional documents (if applicable) and/ or its income-tax returns.

Where can I find the complete Terms of Service?

The complete Terms and Conditions will be shared in a separate agreement provided by CoinSwitch.