Selling tt/od意思
"Selling tt/od" is a term used in online trading, particularly in the context of cryptocurrencies, where "tt" stands for "telegraphic transfer" and "od" stands for "open deposit." It is a method of exchanging cryptocurrencies for fiat currencies (e.g., dollars, euros, etc.) or vice versa.
Here's how it typically works:
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Buyer and Seller Agreement: A buyer and a seller agree on a price for a certain amount of cryptocurrency or fiat currency.
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TT (Telegraphic Transfer): The buyer arranges for a bank transfer to the seller's bank account using a telegraphic transfer. This is an electronic method of transferring funds from one bank account to another in a more or less instant manner.
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OD (Open Deposit): The seller, upon receiving the funds through the telegraphic transfer, confirms the receipt and then opens a deposit for the agreed-upon cryptocurrency or fiat currency, depending on what is being bought or sold.
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Transfer of Crypto or Fiat: The seller releases the cryptocurrency or fiat currency to the buyer's wallet or bank account, respectively.
This process is often used when dealing with large sums of money, as it provides a level of security for both parties involved in the transaction. The buyer can verify that the funds have been sent correctly, and the seller can confirm that the funds have been received before releasing the cryptocurrency or fiat currency.
It's important to note that when dealing with cryptocurrencies and large sums of money, it's crucial to be cautious and only deal with reputable parties. Scams can occur, especially in peer-to-peer transactions, so it's advisable to use established and trusted platforms for such transactions.