Full Guide - Guild OTC

Content:

What is OTC?📈🤝

OTC - Over The Counter - This term is used to refer to transactions that are conducted directly between parties, bypassing traditional exchanges. OTC trading usually deals with assets such as cryptocurrencies, where participants can negotiate the terms of the deals on an individual basis.

A distinctive feature of the OTC market is the absence of strict regulation:

Ads can be placed by all comers, and the moderation of the bulletin board is not as strict as on official trading platforms.

This creates opportunities for free trading, but also increases risks for all participants.

Unlike exchanges, where security is provided by the system, caution and awareness come to the fore in the OTC market.

This market is especially dangerous for beginners, but even experienced traders can fall victim to scammers.

What is escrow?🔒💵

Escrow - Is the person through which the seller will get the money and the buyer will get the goods.

Escrow temporarily holds funds or assets during a deals between two parties.

Escrow ensures that money or assets are only transferred after the terms of the agreement have been fulfilled.

If disputes arise, escrow can help resolve them by providing security and confidence in the deal process.

Since group members are random people, deals without an intermediary pose a significant risk.

I strongly recommend not to trust those who offer to work directly, even if you insist on having a escrow.

In 99% of cases, the result of such deals without a middleman is just wasted time and money. And if you think that fraud is possible only for large sums, it is not.

How do start a deal?📝🤔

To start a deal, you need to contact any escrow agent in the Guild OTC and let them know that you have someone you are willing to do a deal with.

The escrow will set up a group to discuss the deal and then you can discuss the terms in more detail.

It is advisable to have the discussion in the presence of escrow so that they are aware of all the details and do not miss anything.

The contract is approved by all parties to the deal.

The escrow ensures the fulfillment of the terms and conditions of the agreement and the safety of funds throughout the deal.

Its main task is to help the participants to successfully complete the deal.

How does the deal?🔄✅

Creating a group: Escrow agent creates a group on Telegram and adds the seller and buyer there.
Discussing terms: In the group, all participants discuss the terms of the deal: price, subject of the deal, terms and other important details.
Confirming the terms: After the terms are agreed upon, all participants should confirm them by writing to the group
Transfer of funds: The buyer transfers the money to the escrow. The escrow confirms receipt of funds and informs the participants about the start of the deal.
Fulfillment of terms: The seller sends the goods or provides the service, and the escrow ensures that the terms of the deal are fulfilled.
Completion of the deal: After confirming receipt of the goods or service, the buyer informs the escrow, which transfers the funds to the seller.
Feedback: After the deal is finalized, all participants can leave feedback on each other and the escrow.

Escrow fees.💰📋

The network fees is paid by the parties to the deal, as well as fees for additional transfers if required.

If you want to exchange cryptocurrency, our escrows can help with this by charging a 5% fee on the amount exchanged.

Deal: 2% of the total amount (minimum fee $10)

Escrow: @quluni | @dojiman_eth | @leeungi