OTC Bitcoin trading has a reputation for being somewhat unsafe, due in no small part to the fact that cryptocurrencies don’t enjoy the same protections that traditional investment products do. People who buy stocks over the counter are often concerned that they could lose a substantial portion of their investment if they don’t get out from under their purchases fast enough. Those who buy virtual currency in this manner are in an even tougher position.
Representatives of the Blockchain Institute in Chicago, however, have begun to promote a potential solution to the problems experienced by individuals who’ve entered into OTC Bitcoin trading contracts. They’ve publicly demonstrated the use of freestanding kiosks to trade cryptocurrency tokens in a safe manner even when individuals aren’t able to reach their PCs.
These machines greatly simplify the OTC Bitcoin trading process by identifying users with nothing more than their wallet codes. This is a secure method of authenticating an individual consumer without collecting any more information than would otherwise be necessary to see who they are.
While it doesn’t necessarily make blockchain-based investments safer as far as the market goes, it does help to drastically reduce the risk of someone stealing credentials and therefore draining an account. In turn, this should help to improve investor confidence since individuals who want to convert their cryptocurrency tokens into physical money won’t have to worry about fraud when using a Bitcoin ATM to purchase needed goods and services in person.
For more information about these OTC Bitcoin services, visit RockItCoin.