Phemex Introduces OTC Crypto Buying Options

Phemex, a leading cryptocurrency exchange, has introduced a new Over The Counter (OTC) crypto buying platform that will allow investors to buy tokens directly with a wire transfer.

The exchange has teamed up with Legend Trading, a company that is a fully licensed Money Services Business (MSB) in the USA. Investors don’t have to worry about compliance issues when dealing with this service, as it is all handled by licensed professionals.

Buying crypto hasn’t always been easy, and the fiat-to-crypto trade can be difficult, depending on the country an investor lives in. Now, with the addition of this OTC service at Phemex, investors in many nations can buy cryptos directly with a wire transfer.

Phemex Making it Easier to Buy Crypto Directly

Buying cryptos with a wire transfer has never been easier. Phemex can now accept USD-denominated wire transfers in exchange for many of the major tokens in the crypto market.

As its partner, Legend Trading, is a fully licensed Money Services Business, investors will need to comply with basic KYC procedures.

Once the KYC is out of the way, investors will be able to buy the tokens of their choice directly from Phemex with a wire transfer in USD.

How it Works

According to Phemex, this is how a crypto investor can get started with its new OTC trading platform:

  1. Log in to and hover your mouse over the Buy Crypto option in the header of the page.
  2. From the drop-down menu, click on OTC Trading.
  3. In the OTC Trading page, click the slider button next to “OTC Account Status” on the left side of the page.
  4. After reviewing the disclaimer and the Terms and Conditions, check both boxes and click Continue.
  5. Click the button labeled Individual.
  6. Please fill in all the necessary Personal Information according to the form. Click Save and Continue.

That should be enough to get going – and start buying tokens with USD-denominated wire transfers.

For more information about how the buying and selling process works on the platform, you can click…

Read More