Private & Descreet Crypto OTC Procedures
Starting With A Few Smaller Test Transactions:
NEW RELATIONSHIPS ARE ADVISED TO DO A FEW TEST TRANSACTIONS
In the begining of a new relationship to establish transaction history, transparency, and trust, OCM encourages all new OTC customers to start out with a small transaction amount and work their way up.
Example would be once customer is boarded then they would start with 5 BTC and then we agree to increase that amount every day for 5 days depending on the total amount the buyer/seller is looking for. Again we only recommend this to get the customer comfortable if they are hesitant
PROCEDURES & STEPS TO TRANSACT
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Step 1:
Legacy Wealth Planning (100% Optional)
Its super important that all potential US based clients understand that if you are looking at selling or buying Bitcoin that its best to put a Wealth & Tax plan in place to help you pay as little as 0% in taxes, protect your assets and generate several additional passive income streams.
You can put Millions back into your pockets with the proper plan. We are one of the few who do this and as an OTC the ONLY ONE who does this. We know Wealth Management and IRS laws (our other company Obsidian Wealth Management would handle this) which allows us to better position you with the right type of protection and drastically reduce liabilities. With the IRS cracking down and obtaining a cash injection of over $80Billion dollars in stimulus money, they will be doing lots of audits. Should you choose to not obtain a Legacy Wealth Plan, then we encourage customers to get setup with a Wyoming corp entity or Trust. WY has no state taxes on crypto or income and so that we remain compliant with our licensing ect. If they do not comply with this then we are not able to work with them on the OTC side. Our other services we can but not via OTC.
WY is the best cryptocurrency state in the country with respect to no state crypto taxation, no state income tax, no gross receipts tax, no franchise tax, low annual report costs, high respect for property and asset rights as well as protections, excellent charging order protection and much more. Its to our customers benefits to get setup with a entity and home base there. If you need help setting this up which is very worth it in the long run and streamlines doing business wit us, then our sister company does estate planning and corporate entity setups very quickly (1-2 days) and for a low cost. Wyoming has many benefits and our sister company Obsidian Wealth Management helps set those up very inexpensively and based on how many BTC you are selling or buying we can provide a Savings Benefit Analysis.
Step 2:
Register Online & Complete Onboarding
2. Here is where you will complete the onboarding process. This is uploading all the documents required and finishing KYC/AML getting full approval. As a regulated entity we are licensed to work in WY and MT.
If you are international then that is great as long as its in approved countries such as Canada, Mexico, UK, Japan, Dubai, Chili, Denmark, Switzerland to name a few.
Step 3 & 4:
Verification & Liquidiation
3. After obtaining all the documents in step 2 above and getting an approval via KYC, we then setup a group chat on Signal and the buyer/seller will tell us how many coins they want to sell or buy.
Then, they send us the amount of coins to their dedicated Obsidian OTC wallet or if buying they send us a bank wire for the exact total. Our Service Fee will come out of that total. Any additional fees or commissions paid to Mandates or Intemediaries must be disclosed in advanced and validated via a buyer/seller contract that discloses the compensation and how its to be compensated.
4. Once received, we liquidate coins (if working with a seller) we show them spot it was sold for along with invoice, and then we move to settle. If buyer we obtain funds, then acquire the BTC and transfer the coins to the Buyers Wallet after doing a satoshi test to make sure there are no errors with delivery of digital assets.
*For larger deals (as an example 150 BTC per day for 40 business days) will require an agreement for esignature that will be sent out during this step. Spot price would be quoted daily as the trades begin but at least one weeks worth of trades must be sent to OCM via coins or USD.
Step 5:
Confirm-Close
After step 4 is completed (and any agreements for longer daily trades are signed,) the spot price trade amount has been communicated, funds or coins are in OCM custody, then we will then close by sending you your coins directly to your wallet of choice (this can also include USDT or USDC) or bank wire funds directly to your bank. If all digital then all transactions shall be completed within several hours as the size of each transaction will have its own delays. If bank wire, then bank wire will happen same day and will arrive either same day or next business day with a full wire confirmation provided.
*Settlement: This usually happens same day (or within hours if selling and receiving in USDT/C) and you will receive a receipt of the transaction.
OCM'S AVAILABLE CRPYTOCURRENCY OPTIONS
Aave (AAVE)
Basic Attention Token (BAT)
Bitcoin Cash (BCH)
Bitcoin SV (BSV)
Bitcoin (BTC)
Binance USD (BUSD)
Cardano (ADA)
Chainlink (LINK)
Compound (COMP)
DAI Stablecoin (DAI)
Dogecoin (DOGE)
Ethereum Classic (ETC)
Ethereum (ETH)
Filecoin (FIL)
Litecoin (LTC)
Maker (MKR)
Paxos Standard (PAX)
PAX Gold (PAXG)
Polkadot (DOT)
Polygon (MATIC)
Ravencoin (RVN)
Stellar (XLM)
Sushiswap (SUSHI)
Tether (USDT)
Uniswap (UNI)
USD Coin (USDC)
Wrapped Bitcoin (WBTC)
0X (ZRX)
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What it takes...
Terms and Eligibility
1. Minimum order size is $75,000 or more.
2. Buyer/Seller must follow our regulated OTC Procedures.
3. Eligibility for OTC transactions and other services are subject to KYC/AML and other requirements.
4. Service Fee is tiered based on the volume amounts
MANDATES/ ATTORNEYS/ INTERMEDIARIES
Mandates
When it comes to working with Mandates, many times we see they want to control everything and tell us as a regulated OTC how we should transact. We do NOT vere off from our proven and compliant way of closing transactions.
We can work with Mandates as long as they are willing to follow our procedures and actually get us in direct contact with their seller/buyer. As a regulated entity we can't work with anyone who hasnt been fully vetted. You can see our disclosures below by clicking the Disclosures & Disclaimers link at bottom of this page.
We always do NCNDA's and communicate with both buyer/seller and its mandate via signal app. We can act as paymaster for their commission if they choose. If Mandate is being paid by the seller/buyer directly then we will need to see a Agreement of sort that outlines how Mandate is to be compensated.
Attorneys
If a buyer or seller has legal representation and the Attorney is holding the assets of the buyer or seller (crypto or USD) then the attorney/lawfirm must sign a NDA, then pass KYC/AML and provide all required documents which are the following but not limited to:
A signed NDA, Notarized Legal Power of Attorney, A Client Engagement Letter or some proof they are legally representing the client and have completed verification on behalf of that client. We will still need the WalletID the coins are coming from (if Attorney, then it must be the Attorneys custody wallet.)
When working with OCM, an Attorney will not be providing any sort of "Escrow" service. We as a regulated OTC already act as escrow as we are a liquidator/supplier and buy or sell those coins through our liquidity providers and settle out the transaction for each client. We can pay attorney their fee or commission or they can get it directly from the seller/buyer.
Intermediaries
We work directly with customers and do not do daisy chains. If an intermediary comes to us and wants to bring us a seller or buyer, but they have 2 other people to get through before they are direct to the buyer/seller or its Mandate, we will only work with the Mandate and the customer directly. Its on the intermediaries to ensure they have their end covered.
OCM can act as paymaster if need be for 20% of the total commissions being sent out to each individual. Otherwise if we are not designated as paymaster, then we pay the Mandate directly if not being paid out directly by Buyer/Seller and the Mandate pays the intermediaries.
ENQUIRY
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