How to buy bitcoin and trade cryptocurrencies: a step-by-step guide
Decide on the volume and the rate.
1. Decide on the volume and the rate.
The rate is set depending on the Bitcoin volume being traded as well as which side is paying for the escrow fee or the brokerage fee.
Buyer provides LoI and POF
2. Buyer provides LoI and POF
3. Seller provides proof of coin (video recording)
4. Buyer and Seller provides KYC
Contract & Proceed with escrow
5. A formal contract through the lawyer.
6. Seller sends 1 satoshi
7. Proceed with escrow (HSBC, Wells Fargo, Citibank, Bank of America ...etc)
These are the frequently asked questions for large volume BTC trades.
Large Volume Trading Price/Rate
Minimum amount that can be brokered is $10 million and BTC trading price is from 2% to 6% discount from the market standard.
The Whole Goal of The Broker
Not to disperse the coins into the market. It's to move it between one seller who has decided to sell, to ideally one buyer who would like to get in to hold.
Why choose Bitcoin ?7 Reasons Experts Say It's Not Too Late to Invest in Cryptocurrency.
Here are some industry insiders who say you should be investing in crypto and why. Read More
- 1. Regulation is coming and that’s a good thing.
- 2. Cryptocurrency is open 24/7.
- 3. Traditional investments are getting riskier.
- 4. The potential for growth is massive.
- 5. Diversify yourself.
- 6. It’s a bear market.
- 7. There's been tremendous institutional buy-in.