Slow Crypto Swap: Is OTC with Full KYC the Faster Alternative?

[DeepDrilling]

Due to the post below, I just tried making a $1,250 transaction from LTC to DAI, as suggested in this and other threads. So far, it's taken 15 minutes to exchange via a SWAP, so it doesn't seem like such a great idea after all.

Why is it taking so long?
Is an OTC with full KYC really the only alternative if speed is a priority?
Is there a risk that the exchange won't go through, and everything just gets sent back?

[COLOR=#8c9eff] C [/COLOR]

Question Post in thread '700 EUR to exchange USDT to BTC or ETH !! CHOCK!!'​

Oct 24, 2024

SoNewToAllShit said:
How do you go about 150K you want to trade with instantly. Would it be secure to send them to Kraken or Binance or is the risk they will freeze the amount and ask for additional KYC etc too high ?

If so, how to trade such amounts ?
Click to expand...

https://thorswap.finance/

• Clank

 

[JohnnyDoe]

Ltc dai is a cross, there is no native liquidity on the pair. It's normal it takes some time and fees to swap.

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@JohnnyDoe ”“ Your #1 Source for Guidance in Different Offshore Fields​

 

[DeepDrilling]

sorry, can‍ you explain this a little better what does it mean exactly ?😵

 

[EliasIT]

Would you say that it is faster to exchange to BTC first and then do‌ with them whatever you want to do ?

 

[DeepDrilling]

Finally after 1 hour and 10 minutes it went through. That's too much time.
So you think this will be faster to exchange it to BTC or‍ OKX right ?

 

[Freetrade]

LTC to DAI︄ is not a simple swap for a DEX since they are two completely different blockchains.︅ Trading on a CEX will be much faster.

Try Exch.cx if you don't want to︆ use a CEX. Use Tor browser if you want http://hszyoqwrcp7cxlxnqmovp6vjvmnwj33g4wviuxqzq47emieaxjaperyd.onion/
Before you trade check their︇ reserves on the main page to make sure they have enough. Right now they are︈ out of DAI with only $300 left so you can't trade now.

Your title is︉ a bit confusing. OTC is for very large trades that don't go through the normal︊ orderbook on an exchange.
It should be "Is CEX with full KYC the faster alternative?".︋

And the answer is yes.

 

[DeepDrilling]

But would there be a better coind to exchange to from LTC ? I mean‌ say BTC or ETH or other?

I would like to avoid binance and other exchanges‍ since I right now have 700K euro in LTC which I want quickly turned in⁠ a stable coin once it is time to cash out. Transferring this amount to binance⁤ or kraken would be risky I guess, even I have a fully verified account which⁣ is 5 years old. But average amounts going through there is 50K.

So this thorswap⁢ came handy.

 

[Freetrade]

Better in what way? Not sure I understand⁢ what you are asking.

For a DEX trade (uniswap etc) the fastest and easiest swap︀ would be ETH to DAI/USDT/USDC That would be completed in seconds with minimal slippage and︁ fee.

LTC to ETH/DAI/USDT/USDC and BTC will be slower as you are dealing with different︂ blockchains.

Converting your LTC to BTC will open up more options to swap to stables︃ when the time comes.
Then you could use chainflip for example and pay extra for︄ a fast swap (looks like more than 6 BTC will take 40 minutes though)



Also Debridge just tweeted︇ they are adding BTC swaps soon so that will be another option for BTC to︈ Stables.