Skype is becoming an alternative to crypto exchanges

Major players in the crypto market use the capabilities of the Skype messenger for over-the-counter trading. The amounts that pass through such an alternative channel of communication between buyers and sellers are becoming more and more impressive every year.

A small group of traders and investors have exceeded the monthly trading volume of crypto assets by billions of dollars. Having abandoned the use of online exchangers and crypto-exchanges, participants are closing large transactions by simply talking on Skype in a group chat or video conference, transferring cryptocurrency through bank transfers and crypto-wallets.

According to Reuters analysts, volumes have increased by an order of magnitude compared to the previous year, over-the-counter traders are closing transactions worth hundreds of millions of dollars every day, and this market, according to experts, is growing steadily. 

Over-the-counter trading allows traders not to go through the seven circles of hell of an independent audit. And also bypass potential problems, call recordings, obtaining permits, compliance with KYC standards. Participants are increasingly using online messaging and the video platform Skype for this purpose. This is a global and inexpensive tool that meets all the requirements of such trading.

Trading outside of existing crypto platforms today can be classified as risk management. Cyber ​​attacks, fraudulent ICOs and regulatory bans have increased significantly over the past few months. This has led to increased safety requirements.  Crypto investors use over-the-counter trading as an alternative method of protection from hacker attacks, high exchange commissions and the intrusive attention of fiscal authorities.