Connect to Binance OTC
Budget: €3,000 – €5,000 EUR
When I trade high amounts of (€) in coins that have low volume or liquidity issues, high or drastic wicks usually appear and that means that the exchange is not buying the coin at market price but higher (the exchange I use is Binance).
For example, if the market price for GTCBUSD (Gitcoin) is $1.50 but you buy high amounts, the average price the exchange will pay is (for instance) $1.70. As you can see, this reduces the ROI and makes it more difficult to make net gains. With the bot I work with (Wundertrading), there is no solution for this, nor with any other bot on the market.
After checking that, I did some research online and found out that Binance offers a series of products related to Convert and OTC Portal (see Making a Big Trade? Try Our Convert & OTC Portal). What this means is that instead of Binance making the purchases over the usual portal, it will make all the purchases through Binance's OTC Portal and all of them will be made at market price, thus eliminating those drastic wicks and improving ROI.
Please check the following link for more info: https://www.binance.com/en/blog/otc/making-a-big-trade-try-our-convert--otc-portal-421499824684900491
Binance's Liquidity team explained to me that OTC has been enabled on my account via API but I need to amend my strategy code so that all orders will go through the last portal. Please also find attached all the documentation that Binance's liquidity team sent me.
Do you think you could work on this project to connect TradingView > Wundertrading > Binance OTC? If so, please let me know.
Kind regards,
Emma
For example, if the market price for GTCBUSD (Gitcoin) is $1.50 but you buy high amounts, the average price the exchange will pay is (for instance) $1.70. As you can see, this reduces the ROI and makes it more difficult to make net gains. With the bot I work with (Wundertrading), there is no solution for this, nor with any other bot on the market.
After checking that, I did some research online and found out that Binance offers a series of products related to Convert and OTC Portal (see Making a Big Trade? Try Our Convert & OTC Portal). What this means is that instead of Binance making the purchases over the usual portal, it will make all the purchases through Binance's OTC Portal and all of them will be made at market price, thus eliminating those drastic wicks and improving ROI.
Please check the following link for more info: https://www.binance.com/en/blog/otc/making-a-big-trade-try-our-convert--otc-portal-421499824684900491
Binance's Liquidity team explained to me that OTC has been enabled on my account via API but I need to amend my strategy code so that all orders will go through the last portal. Please also find attached all the documentation that Binance's liquidity team sent me.
Do you think you could work on this project to connect TradingView > Wundertrading > Binance OTC? If so, please let me know.
Kind regards,
Emma