Cryptos OTC (COTPS) has been gaining momentum for the last couple of months as more new users are joining the platform to take advantage of the automated arbitrage system that it offers. But are the transactions themselves that we see taking place actually legit? Are there real people on the other end buying and exchanging Crypto currency? or is this all just a ponzi scheme that spits out fictitious numbers on the screen for us to think that arbritage is occurring? I myself wanted to really know the answer to these questions.
I went to a p2p network to see what I could find. A p2p stands for peer-to-peer. It’s a marketplace where people trade Crypto currency directly with each other instead of using a third party intermediary exchange. Since COTPS is an “over the counter” trading platform, record of any transactions would be on a p2p site. One of the most popular peer-to-peer sites is Binance p2p. If I could find any validity of the transactions taking place it would reassure myself that this all wasn’t a big farce that is happening, as so many people on social media claim it is.
I took a screen shot of one of my transactions and I noted the Region, in this case it’s the United States, and the “Transaction Price” as well as the “Certified Service Supplier” (the Buyer)
Then headed over to Binance p2p. Once there I clicked on the filter tab
Enter in the amount of the transaction
Scrolled down to Fiat and selected USD and clicked confirm
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