The WX.Network users have the ability to exchange cryptocurrency on the Spot market. Sometimes, the execution of the order is not instant and takes a substantial amount of time, for example, if the sell or buy orders at a particular price are thin. The exchange timing is of the utmost importance for arbitrage or users who want to take advantage of our investment products immediately. That is why WX.Network provides the OTC service which allows any user to swap USDT/USDC to XTN and vice versa via OTC without waiting for order execution. The minimal USDT/USDC-to-XTN’s swap amount is 10 000 USD, and the minimal XTN-to-USDT/USDC’s swap amount is 10,000 as well but not more than was previously swapped to XTN. Find more details on all OTC terms in the special section of this article. And let’s take a closer look at the OTC swap now.
How to swap
To make a USDT/USDC<> XTN swap it is mandatory to have USDT, XTN or USDC tokens on the account balance. You can deposit it from another exchange/wallet or buy it on the WX.Network Spot market. When the tokens are on your account balance, log in to your WX.Network account, hover over the Trading item in the upper main menu and use the OTC button.
On the OTC page, choose the swap direction: USDT/USDC > XTN or XTN > USDT/USDC, and enter the amount of the token that you want to swap. After that, received amount of USDC/USDT/XTN, will appear in the I Receive field. The OTC fee is already deducate from this amount. Carefully read the terms of the OTC swap in the yellow frame and if you agree with the terms, click on the "Swap --- to --- via Smart Contract".
You will receive (USDT/USDC or XTN) within 1 minute if you made a direct swap (USDT/USDC to XTN) or after 30 minutes (30 blocks) if you made a reverse swap (XTN to USDT/USDC). If you made a reverse swap, then after 30 minutes (30 blocks) you will need to click the Get USDT/USDC button in the Waiting List field.
- The swap of USDT/USDC to XTN takes place with a zero service fee, and the reverse swap includes a commission of 2% and takes no more than 30 (30 blocks). To avoid market destabilization, your funds will be locked in a smart contract during this period.
- The reverse swap (namely, XTN to USDT/USDC) can be done only if previously a direct swap (namely, USDT/USDC to XTN) was done.
- In the reverse direction, it is possible to swap an amount not exceeding the amount of the USDT/USDC to XTN swap and not less than 10 000 USD.
If you have any questions related to WX.Network, feel free to contact us.
tags*: otc exchange swap XTN usdc usdt stablecoin