What Is OTCBTC Token (OTB)?
Cryptocurrency has been a growing industry over the past decade. This has led to the emergence of many cryptocurrency exchanges that allow users to trade their assets for cryptocurrency.
This usually involves using fiat currency, which has a lot of drawbacks for those that are privacy minded or live in countries that ban cryptocurrency (ie. China). Some exchanges, however, are not connected to the banking system and allow users to purchase cryptocurrency with other cryptocurrency. The lack of connection to the banking system allows users to anonymously purchase cryptocurrency, and that has a lot of benefits.
Anyway, one of these exchanges is called OTCBTC. It has a normal exchange for smaller purchases and also allows users to purchase cryptocurrency in bulk over the counter (OTC). This article will offer a comprehensive review of OTCBTC.
What Exactly Is OTCBTC?
OTCBTC is a centralized cryptocurrency exchange that allows trading and OTC purchases. It also has a native cryptocurrency called OTB (ERC-20).
The native currency, OTC, was used in the initial coin offering (ICO) to fund the project back in 2017. It raised approximately $40 million USD during the ICO. The token has performed terribly since then and the current OTCBTC website does not have any information about the token.
As for the exchange, they make the bold claim that they are the fastest growing cryptocurrency exchange in Asia – the exchange is based in Taiwan. However, the official Twitter account and Medium account have not been active since 2019.
That is certainly not the behavior of the “fastest growing exchange in Asia.”
Is OTCBTC Token (OTB) and Exchange Dead?
Yes, it appears that OTB is a dead project. It did receive a little pump at the end of 2021, but the token does not appear to have any utility. The fact that the website makes no mention of the token leads us to believe that the token has no use at the moment.
As for the exchange, the Twitter account and Medium account have not been active for 2.5 years. The website is still up and running, though.
Personally, we would not use the exchange nor invest in the token because of the lack of activity. There are so many other places to purchase cryptocurrency in 2022 that using a seemingly dead exchange based in Taiwan seems like an unnecessary risk.
To summarize, OTCBTC Token is a remnant from the ICO frenzy in 2017. It still exists on the internet, but it likely has very few active users and appears abandoned by the developers.
It’s certainly not a project that we would deem a suitable investment. There are far better cryptocurrencies and exchanges for those interested in trading cryptocurrency.