Japanese Cryptocurrency Platform Coincheck Launches OTC Trading Service

Japanese cryptocurrency exchange Coincheck announced on Monday the launch of its new OTC trading service. According to Coindesk, the new service will be for large-scale customers and is a service that allows users to buy and sell virtual currencies at an “attractive” price. It also allows the ability to quickly trade large amounts of virtual currency at once.

Coindesk also reported that large-scale OTC trading will take place on weekdays from 10 a.m. to 3 p.m. and will be conducted on Coincheck service (WEB). It was then noted that the platform will consider the handling of other virtual currency from time to time. All listed times are in Japan time and prices are the time of the transaction is not disclosed. Coindesk then stated:

“Virtual currency is different from legal currency, and its value is not guaranteed by countries. The virtual currency may lose its value due to the failure of the transfer record system. Because the price of the virtual currency fluctuates, losses may occur. If the company goes bankrupt, it may not be possible to return the deposited money and virtual currency. When dealings, please fully understand the contents of the transaction and do it at your own risk. Please check the ‘Coincheck Virtual Currency Trading Manual’ and “Coincheck Terms of Use” for other important matters and transaction details.”

Founded in 2014, Coincheck claims to be one of the largest bitcoin and cryptocurrency exchange/payment processors in the world. The platform currently has more than $40 billion bitcoin transaction volume per month and has 99% market shares in Japan as a bitcoin payment processor.

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