Greyscale Brings Altcoins to Over-the-Counter Trading
Greyscale is an investment company, it has announced on 17th August 2020 that their firm’s bitcoin cash trust will be accessible on, over the counter system, or generally known as the OTC market under the BCHG ticketer.
What is over the counter trading?
Over the counter or OTC is a way of trading securities for companies that aren’t listed on any formal exchanges. Over the top means, the securities are traded via a dealer network, which is the opposite of the centralized exchange system. This helps to maintain the current market place while you can have transparency and liquidity of the stock exchange. OTC is very thin traded and that is known as “penny stocks”. It can be traded at low as $1, which makes it more preferable for investors. Grayscale has achieved a state where they have robust security to provide optimum protection to the investors so that they can trade easily and risk-free.
What’s the news?
Grayscale investment offers digital-currency investment stock, which can be traded by individual investors on their Demat accounts. The company debuted in the financial field on 25th September 2013 as a bitcoin investment trust. Storing cryptocurrency is very problematic and greyscale is doing it in a very mature way. They announced that they have a robust system for securing the cryptocurrencies that actually uses the leading techniques of security standards for protecting digital currency.
Grayscale Investments is an asset management company that is the world’s largest bitcoin trust also, it has announced that bitcoin cash trust, and bitcoin trust, both are eligible for deposits at the “Depository Trust Company”(DTC). This company is based in NY(New York) and is commonly known as DTC, it was founded in 1973.
DTC holds $54.2 trillion in securities. Grayscale also happens to meet the requirement of being eligible to be listed as a major stock exchange like the very well known “New York Stock Exchange”. The most amazing news would be knowing Grayscale has already cleared the Nasdaq NYSE requirement list for becoming eligible. They have successfully entered the stock exchange market and will hopefully rule it very soon.
What are Altcoins?
These are basically the alternative of bitcoins. They came into the market after bitcoins were a huge success. Altcoins specifically denote all the cryptocurrencies that accept bitcoins. Some of the altcoins are, Ethereum (ETH), Chainlink (LINK), Basic attention token (BAT), Komodo (KMD), Bitpanda Eco System Token (BEST), etc.