In a cryptocurrency exchange
the platform, a Bitcoin broker is the main market player. The broker is also the main interface to the Buyers and Sellers. If you are looking
out to be a Bitcoin broker, you can start by using an OTC (Over the
Counter) Mobile Application.
As
a broker, you will be the one who would be servicing the Buy/Sell
requests generated by Buyers and Sellers mapped under you through the
OTC Mobile Application. For which you could receive 50% of the transaction fees generated over the OTC Application. Another advantage of such OTC apps is that you can get more and more profits per trade.
Brokers
perform as multiplayer in an exchange which includes the verification
of documents and registration of Buyer/Seller (KYC), accept and verify
deposit and withdrawal requests through registered banking channel, buy
or sell assets on behalf of the Buyer/Seller and such other services
within the limits of approval, etc.
There
is also a Peer to Peer trading facility for the brokers. It is based on a web platform where all the licensed brokers can connect and trade with each other. The trading environment would be suitable for high-frequency traders only. Each broker would be executing the trades on his proprietary account and will not be opening any client accounts and/or sub-broker accounts in this interface.
Content Credit: This content has been taken from https://medium.com/@simonemickey10/how-can-i-become-a-bitcoin-broker-17d698f934b1 and originally posted on https://medium.com/@simonemickey10/how-can-i-become-a-bitcoin-broker-17d698f934b1
Content Credit: This content has been taken from https://medium.com/@simonemickey10/how-can-i-become-a-bitcoin-broker-17d698f934b1 and originally posted on https://medium.com/@simonemickey10/how-can-i-become-a-bitcoin-broker-17d698f934b1
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