Buying Bitcoin remains a major struggle for consumers all over the world. Unlike what people may think, not everyone looks forward to register and exchange account, and verify their identity. Not because they have something to hide per se, but rather due to the fact this process can take several days. It is apparent there is a huge need for over-the-counter purchasing options.
OTC Markets Can Really Thrive in Europe
Consumers who want quick and convenient access to Bitcoin will not use and exchange platform unless they have to. Rather than using Bitcoin exchanges, they prefer to stick to OTC markets. Not only can these platforms provide sufficient liquidity, but newcomers will receive their Bitcoins a lot faster compared to using and exchange.
This is also part of the reason why platforms such as LocalBitcoins are very popular in Europe since it makes the whole process a lot smoother for all parties involved. Unfortunately, LocalBitcoins can not necessarily provide the required liquidity to accommodate large trades. Investors who want to invest a few hundred thousand Euro into Bitcoin will have issues doing so.