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OTCBTC

2 from 1 vote
Taiwan

Fees

Taker fee

0.1%

Maker fee

0.1%

Withdrawal fee

0.001

Funding methods

Wire transfer

Credit card

Other crypto

US investors permitted


OTCBTC Review

A trading cryptocurrency guide must provide reviews of all of the top crypto exchanges out there, so that you can find the best cryptocurrency exchange site for you. This review of OTCBTC consists of four parts: general information, fees, deposit methods and security.

General Information

OTCBTC is the only Taiwanese cryptocurrency exchange that we have listed in our Cryptocurrency Exchange List. We believe that this will only be the case for a very limited period of time, as the Taiwanese government has expressed a positive attitude towards cryptocurrency and cryptocurrency companies. As early as in 2017, the Taiwan legislator Jason Hsu stated that Taiwan’s position on ICOs could be summarized as the three “no-policies”:

  • The Taiwan government does not encourage ICOs;
  • The Taiwan government does not prohibit ICOs; and
  • The Taiwan government does not take responsibility for ICOs.

Moreover, rumour has it that the Taiwan government will soon issue an even more positive attitude towards ICOs and cryptocurrencies in general, with the purpose of establishing Taiwan as an Asian crypto-hub country. We’ll have to wait and see what happens, but we don’t think that OTCBTC will be the only Taiwanese cryptocurrency exchange in our Cryptocurrency Exchange List for much longer.

To our knowledge, US-investors are permitted to trade at OTCBTC.

OTCBTC Fees

OTCBTC Trading fees

This Taiwanese cryptocurrency exchange doesn’t charge different fees between takers and makers. Their fee model is instead a “flat fee model”. Their flat fee model is 0.10% which is below the global industry average. As we can’t compare the fee to any domestic counterparts, 0.10% also constitutes the domestic industry average.

OTCBTC Withdrawal fees

At this exchange, they charge their users a withdrawal fee amounting to 0.001 BTC when you withdraw BTC. This fee is in line with global industry average.

Deposit Methods

OTCBTC does not accept any deposits of fiat currency. This means that new cryptocurrency investors (i.e., investors without any previous holdings of cryptocurrencies) can’t trade here. In order to purchase your first cryptocurrencies, you need a so called entry-level exchange, which is an exchange accepting deposits of fiat currency. Find one by using our Exchange Finder!

Security

OTCBTC’s has a “good but not great” security score. We run all exchange-websites in Mozilla’s Observatory-test (https://observatory.mozilla.org/), and OTCBTC received a C-score. This is decent, but there is also room for improvement.

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Finally, if you have concluded that this is the exchange for you, congratulations! Go for it. But if not, find the best cryptocurrency exchange site for you by using our revolutionary matching tool.

Good luck!

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