HO CHI MINH, Vietnam, Aug. 21, 2018 /PRNewswire/ — Huobi OTC (https://otc.huobi.com/vi-vi) marked its foray into the Vietnamese market by supporting peer-to-peer (P2P) transactions denominated in Vietnamese Dong (VND). OTC, which stands for “over-the-counter“, will help onboard new users who are looking to invest in digital assets by offering a P2P fiat-to-coin marketplace.
Aside from offering a platform for users to freely exchange their VND for digital assets such as USDT, BTC, ETH, and HT, Huobi helps to reduce counterparty risk by requiring merchants to place security deposits with the exchange. These deposits will be released to users if the merchant is unable to release the purchased coins in a timely fashion.
As part of its initial efforts to carve a niche in the Vietnam market, Huobi OTC exchange is offering a zero transaction fee as opposed to the average transaction fee at other exchanges, which are about 1%. In addition, by leveraging its sister trading platform, Huobi Global, Huobi OTC is able to cut out fees such as OTC deposit fees and withdrawal fees.
For example, on Huobi OTC, a user can purchase 1 BTC for about VND151.255m. The BTC can then be transferred to the Huobi Global exchange platform for free and the user can commence coin-to-coin trading. Whereas, if the BTC was purchased on a rival platform, the user would have to bear additional fees of up to VND1.6m before starting to trade.
Besides Vietnam, Huobi OTC supports 17 countries and/or regions, including: Singapore, India, Vietnam, Canada, Australia, Korea, Switzerland, Netherlands, Taiwan, Russia, United Kingdom, Hong Kong, Nigeria, Indonesia, Philippines, Cambodia, and Mainland China.
Aside from being cheaper and relatively hassle free, Huobi OTC also provides the same support that Huobi is known for, namely, its trusted branding and 5-year security and reliability track record, as well as its 24/7 customer support.