What is OTC?
OTC is an acronym for “Over the Counter”, which refers to transactions taking place in unorganized markets, outside of exchange interfaces. Experienced users or companies use them to perform specific trades that would be difficult using the regular methods. If you have questions like what are Over-the-Counter Transactions and can companies open corporate accounts on BtcTurk then you will find answers in this article.
Can institutional firms apply to open accounts on BtcTurk?
Companies are able to open corporate accounts on BtcTurk. To do this, the company representative or person opening the account must contact the BtcTurk Support Team then fill out and share a Corporate Account Opening Request Form.
BtcTurk’s Compliance Unit will then review the company’s form and inform them if the request has been accepted.
Which information and documents are required from companies wanting to open a corporate account?
To open a corporate account BtcTurk require some standard documents. These include a Turkish Trade Registry Gazette, articles of association, documents showing the company’s partnership structure and signatures on the forms and documents provided by BtcTurk.
What transactions can companies with institutional accounts perform on BtcTurk?
Companies that have corporate accounts with BtcTurk and BtcTurk | PRO can perform cryptocurrency trading, deposits, and withdrawals like any other BtcTurk or BtcTurk | PRO user.
Can Turkish companies buy and sell Bitcoin despite there being no legal regulations for it yet?
Companies with corporate accounts on the BtcTurk platform can buy or sell cryptocurrencies in whatever quantity they want, whenever they want. Although there is currently no legislation regulating cryptocurrencies, there are institutional clients who trade on the BtcTurk platform. Institutional companies are free to invest in cryptocurrencies as they wish, but BtcTurk recommend they seek advice from their financial advisors or tax office.
Do BtcTurk provide consultancy services for corporate cryptocurrency trading transactions?
Companies that have a corporate account with BtcTurk can log into their corporate accounts with the company representitive’s email and phone number. Corporate accounts can buy, sell, deposit, and withdraw cryptocurrencies or Turkish Lira like any other BtcTurk user. Due to the absence of legislation regulating cryptocurrencies, BtcTurk cannot provide any trading or investment advice.