1. Overview
The BIT OTC (Over-the-Counter) function provides users with large-scale digital asset trading services, with a minimum transaction amount of USD 50,000 per trade. This function supports both individual and institutional users.
This guide provides a detailed explanation of the OTC activation process for individual customer. For institutional customer, please refer to this article (https://helpcenter.matrixport.com/en/articles/14749787-how-to-complete-institutional-verification).
Both Mobile App and Website are available for OTC individual account opening.
For the mobile app process, please refer to chapter 2.
For the web process, please refer to chapter 3.
2. OTC individual account opening (Mobile App)
Step 1: Navigate to the OTC Activation Page
Open our APP and click the OTC icon.
Select [OTC] to proceed activation.
If the user has already passed our APP’s KYC verification, they will be directed to [OTC Activation Preparation].
If the user has not yet passed KYC verification, they should select [OTC - Individual], then tap [Activate].
Step 2: Prepare Required Documents
Before activating the OTC function, prepare the following:
Valid Passport or national ID Card: Clear front and back photos.
Proof of Address (within the last 3 months): Such as a bank statement or utility bill displaying your name and address.
Step 3: Fill in customer Information
Existing User
If you have previously completed KYC, you may be prompted to authorize data synchronization.
Please review and confirm the following:
- whether your identification document is still valid
- whether your proof of address was issued within 6 months
- whether your KYC information is up to date
If any information has changed, select “Update Information” to resubmit.
New User
First-time users are required to complete the KYC information, including document verification and possible facial recognition.
After submit, you can find the Identification Document is approved. Please fill in the identity information, including Nationality, Date of Birth, etc.
Step 4: Proof of residential address
When entering your address, please note below requirements.
Address Requirements:
- The address matches your proof of address exactly
- The address is provided in standard English format
Proof of Address Requirements:
- must be issued within 6 months
Common documents include:
- Bank statement
- Utility bill
- Credit card statement
- Government-issued document
Documents must include:
- Applicant’s name
- Residential address
Step 5: Wealth & Activity Info
Account Opening Purpose:
- select "OTC Trading"
Monthly trading estimate:
- estimated trading amount
- estimated number of trades
Source of funds:
- total net worth of funds
- wealth Sources
- Source of funds
**Net worth should be consistent with your declared source of wealth. Source of funds must align with your source of wealth.
Step 6: Complete Risk Awareness Questionnaire
Step 7: Review Agreements & Sign
Before submission, please ensure that you:
- Read all declarations
- Acknowledge risk disclosures
Step 8: Submit & Wait for review
After signing, click “Submit” to complete the application.
The review process typically takes 1–4 business days (excluding weekends and holidays), but may vary depending on individual circumstances.
If additional documents or information are required, you will be notified via the app or email.
3. OTC individual account opening (Website)
In addition to the mobile app, you can also activate the OTC function via our website. The web activation address is: https://www.bit.com
Step 1: Navigate to the OTC Activation Page
Log in or register your BIT account on the website.
Click [OTC] in the top navigation bar, then select [Apply Now], step to OTC page.
Click [Apply Now] to start the activation process.
Step 2: Choose individual Identification
If this is the first time to start verification, please indicate "Individual User" to proceed.
Under Individual User, please click [OTC Verification] - "Activate Now".
Get an overview of the process. Click "Apply Now".
Step 3: Prepare Required Documents
Before activating the OTC function, prepare the following:
Valid Passport or national ID Card: Clear front and back photos.
Proof of Address (within the last 3 months): Such as a bank statement or utility bill displaying your name and address.
Step 4: Fill in Customer Information
Existing User
If you have previously completed KYC, you may be prompted to authorize data synchronization.
Please review and confirm the following:
whether your identification document is still valid
whether your proof of address was issued within 6 months
whether your KYC information is up to date
If any information has changed, select "Update Information" to resubmit.
New User
First-time users are required to complete the KYC information, including document verification and possible facial recognition.
On the [Customer Information] page, click [Verify] next to ID / Passport to start identity verification.
Select your Issuing Country/Region and ID document type (ID Card or Passport), then click [Start Authentication].
Since identity verification requires a mobile device, the website will display a QR code. Please scan the QR code with your mobile phone to complete the document upload and facial recognition process.
After completing the verification on your mobile device, click [I have completed verification] on the website. The system will display "Identity Verification Under Review."
Click [Continue OTC Verification] to return to the Customer Information page. Once your Identification Document is approved, please fill in the remaining identity information, including Name on ID, Nationality, ID Type, Issuing Country/Region, ID Number, and Date of Birth.
Click [Next] to proceed.
Step 5: Proof of Residential Address
When entering your address, please note the following requirements:
Address Requirements:
- The address matches your proof of address exactly
- The address is provided in standard English format
Proof of Address Requirements:
- must be issued within 6 months
Common documents include:
- Bank statement
- Utility bill
- Credit card statement
- Government-issued document
Documents must include:
- Applicant's name
- Residential address
Fill in your Residential Address (country), Apartment/Suit/Unit/Building Name/Unit Number/Floor, City/Town, State/Province, and Postal Code, then upload the Latest Proof of Address. Click [Next] to continue.
Step 6: Wealth & Activity Info
Account Opening Purpose:
- select "OTC Trading"
Monthly trading estimate:
- estimated trading amount
- estimated number of trades
Source of funds:
- total net worth of funds
- Wealth Sources
- Source of Funds
You will also be asked:
Whether you have ever been involved in any criminal activity, associated with negative news, or identified as a Politically Exposed Person (PEP), or are close associates with a PEP.
Whether you have participated in any tax amnesty programme.
**Net worth should be consistent with your declared source of wealth. Source of funds must align with your source of wealth.
Click [Next] after completing all fields.
Step 7: Complete Risk Awareness Questionnaire
Answer the questions on the [Questionnaire] page truthfully based on your understanding of digital asset trading risks.
After submission, the system will display your final score. A passing score is required to proceed with the account opening.
Click [Next] to continue.
Step 8: Review Agreements & Sign
Before submission, please ensure that you:
Read all declarations
Acknowledge risk disclosures
On the [Agreements & Declarations] page, review and check each item, or click [Select All]. Click [Next] to proceed to the signature page.
On the [Signature] page, click [Tap to Sign] to provide your digital signature, then enter your First name and Last name as confirmation. The signing date will be filled in automatically.
Names can only contain English letters and spaces.
Step 9: Submit & Wait for Review
After signing, click [Submit] to complete the application.
The review process typically takes 1–4 business days (excluding weekends and holidays), but may vary depending on individual circumstances.
If additional documents or information are required, you will be notified via the app or email.
Once your application is approved, you will be notified via an in-app message and your registered email.
For any issues, please contact otc@bit.com.
