Prime 7 OTC Bitcoin Brokers You Can Use in 2023

Are you seeking to purchase massive volumes of bitcoin, you would possibly take into account participating an OTC bitcoin dealer to keep away from shifting the market by putting your orders in exchanges. 

On this information, we’ll clarify what OTC bitcoin brokers are and checklist respected bitcoin brokers you need to use. 

Who Are OTC Bitcoin Brokers?

OTC (over-the-counter) bitcoin brokers facilitate massive bitcoin transactions between buying and selling counterparties in a direct and personal method. 

Buying massive quantities of bitcoin wants a distinct strategy than common buying and selling on crypto exchanges. The normal methods of shopping for bitcoin by exchanges aren’t appropriate for high-volume purchases as a result of comparatively low liquidity on Bitcoin exchanges and the potential for worth slippage. 

OTC bitcoin brokers present extra discrete and safe channels for high-net-worth people, skilled merchants, and institutional traders to purchase and promote massive portions of bitcoin (BTC) at the absolute best worth. These brokers shield their clients from negatively impacting their execution worth on account of worth slippage, which might probably be the case in the event that they traded on a crypto trade. 

OTC bitcoin brokers leverage a community of counterparties (consumers and sellers) to execute trades and fulfill their purchasers’ buying and selling wants. 

Patrick Lowry, CEO of Cryptology AG, instructed Cryptonews.com: 

“OTC brokers play a necessary function within the Bitcoin buying and selling ecosystem as a result of they permit skilled and institutional traders to purchase and promote the digital forex whereas lowering their trades’ influence on the execution worth. In case you are seeking to shift 100 BTC, for instance, putting a handful of huge orders on an trade would transfer the market as it might sign that there is a bigger purchase or vendor on the town. Utilizing an OTC dealer, you’d most likely have the ability to make that commerce immediately with one other massive counterparty in a single or a two transactions.”  

Prime 7 OTC Bitcoin Brokers

Now that you recognize what over-the-counter bitcoin brokers are, let’s go over among the extra common bitcoin brokers within the area. 

Bitcoin Reserve

Bitcoin Reserve is an Estonian-based over-the-counter (OTC) buying and selling service that lets you buy bitcoin (BTC) or bitcoin-related property value over 10,000 USD OR EUR. The bitcoin buying and selling service was based in 2018 by a crew of world brokerage specialists to supply a customized OTC buying and selling expertise to bitcoin lovers.

To begin buying and selling with Bitcoin Reserve, you must register for an account. Signing up for a person account takes as much as 5 minutes. Signing up for a company account can take as much as 48 hours. Through the registration, you’ll have to present an ID doc like a passport, a driver’s license, or a everlasting residence card. 

When you can commerce any quantity you want, if you happen to transact over 10,000 USD or EUR month-to-month, you’ll be able to get pleasure from an additional vary of providers like personalised communication choices and 24/7 on-call providers.

Important options:

• Based in 2018
• No minimal order measurement 
• Tiered charge construction starting from (2.99%-0.65%)
• OTC buying and selling for BTC, Liquid BTC, USDT & Liquid USDT
• Devoted buyer help
• Internet-version solely

B2C2

B2C2 is a UK-based crypto OTC dealer that goals to supply institutional traders entry to crypto by offering dependable liquidity. Based in 2015, the crypto buying and selling platform makes use of its proprietary software program and revolutionary OTC options, which embrace spot buying and selling for probably the most liquid crypto and fiat forex pairs, institutional-grade spinoff merchandise, structured loans, and different merchandise. 

B2C2 prides itself because the crypto liquidity associate of alternative for myriad establishments. To entry B2C2 crypto OTC options, you should submit a couple of particulars. This info consists of your private particulars, firm title, and the character of the providers you search. Upon getting submitted these particulars, you’ll be despatched an onboarding starter pack. The pack will define the related KYC and compliance info wanted to finish the appliance.

B2C2 lets you purchase and promote something from small quantities to over million-dollar bitcoin blocks. B2C2 purchasers vary from exchanges, brokerages, fund managers, and banks. The platform doesn’t serve any retail purchasers. 

Important options:

• Based in 2015
• Minimal order measurement of 0.0005 BTC
• A flat charge of two% p.a. on lengthy and brief positions
• OTC buying and selling in all main crypto, together with BTC, LTC, ETH, XRP, BCH, DOT, UST, USDC, LINK, and extra. 
• Devoted buyer help
• Internet-version solely

Cumberland

Cumberland is a Chicago-based crypto firm that gives OTC bitcoin buying and selling to traders and establishments to capitalize on new ventures. Launched in 2014 as a  subsidiary of DRW, a decades-old diversified buying and selling agency, Cumberland presents a singular buying and selling expertise with 24/7 entry to buyer brokers. Furthermore, Cumberland lets counterparties entry its digital suite, which offers real-time, streaming, and two-way pricing, in addition to its API. 

To begin buying and selling with Cumberland, you must endure an onboarding course of. Each particular person and institutional onboarding processes would require you to supply private info, KYC paperwork, fee info, and extra. As soon as the method is full, Cumberland will evaluation the main points and, if happy, arrange your buying and selling account. The minimal measurement of an instrument you’ll be able to commerce on Cumberland is $100,000.

Important options:

• Based in 2014
• The minimal order measurement is $100,000
• No proportion charge charged when buying and selling
• OTC buying and selling in BTC and 150+ digital property
• Buyer help
• Internet-version solely

FalconX

FalconX is a Malta-based OTC buying and selling service that depends on knowledge science to supply the very best commerce execution for purchasers. Based in 2018, the corporate acts as a crypto dealer and digital asset buying and selling platform. The platform is designed for institutional traders akin to hedge funds, fee suppliers, crypto miners, proprietary merchants, and extra. FalconX has a various crew with finance and tech backgrounds and has places of work within the US and Asia. 

FalconX presents environment friendly commerce execution for OTC transactions by its platform. Purchasers can get pleasure from virtually 100% uptime and probably the most intensive aggregated liquidity. FalconX digital system may be configured to commerce a number of crypto pairs. The crypto dealer additionally presents credit score and treasury administration, market making, and different providers.

To get began with Falcon X, you’ll have to submit your particulars, specify the kind of entity, and choose a variety of your estimated buying and selling month-to-month quantity. Additionally, you will have to clarify your curiosity in FalconX. 

Important options:

• Based in 2018
• Buyer help
• Internet-version solely

Soar Buying and selling

Soar Buying and selling is a Chicago-based proprietary buying and selling agency that acts as an institutional brokerage. Based in 1999, the corporate stays on the reducing fringe of algorithmic buying and selling to drive its analysis and quantitative buying and selling strategy. In 2018 the corporate developed an digital crypto buying and selling platform referred to as Soar Liquidity. Soar Liquidity permits Soar Buying and selling to supply improved entry to liquidity on a customizable foundation to its counterparties. 

Soar Buying and selling presents top-grade computational capabilities that information knowledge evaluation of OTC crypto trades. Soar acts as a principal buying and selling associate working with a number of counterparties by its digital buying and selling platform or its tremendous streaming API. Crypto Soar, a division at Soar Buying and selling, in offering liquidity and technical experience to nascent crypto tasks and platforms. 

To get began with Soar Buying and selling, you attain out to them immediately on the contact e mail on the positioning. Alternatively, you’ll be able to attain out to their International Gross sales crew on the e-mail supplied on the Soar Liquidity web site. 

Important options:

• Based in 1999
• Buyer help 
• Internet-version solely

Satstreet 

Satstreet is a Canadian-based crypto trade that works to make bitcoin accessible to the lots. Launched in 2020, the corporate goals to bridge the hole between conventional finance and cryptocurrency. Satstreet depends on industry-leading APIs, with good order routing, and makes use of native banks for nearly prompt settlements. Satstreet’s OTC desk lets you commerce a variety of cryptocurrencies, together with bitcoin (BTC) and ether (ETH). 

To get began on Satstreet, you must register for a private or enterprise checking account. Relying on the kind of account, you’ll have to present KYC and compliance particulars. Upon getting submitted the related knowledge, the platform will take as much as 24 hrs to arrange your account. 

You may request a quote from the non-public consumer buying and selling desk and even safe a worth when you fund your account. Satstreet can facilitate bitcoin trades starting from $25,000 – $100,000 for purchasers within the US and Canada. 

Important options:

• Based in 2020
• Minimal order measurement of $25,000
• Aggressive buying and selling charges of 1%
• OTC buying and selling in BTC, ETH, and different digital property. 
• Devoted customer support
• Cellular Help

sFOX

sFOX is a San Francisco-based crypto prime vendor for institutional traders that gives the liquidity and the infrastructure wanted to execute massive trades. Based in 2014, sFOX was created to combine the crypto ecosystem by a single level of entry, thereby making it extra environment friendly and aggregating liquidity from numerous sources. The platform was developed internally as a scalable answer for institutional crypto buying and selling. 

It’s a must to create an account to begin buying and selling with sFox. Just like different crypto OTC brokers, you’ll be able to select between a person or enterprise account. Present the mandatory particulars, and as soon as the account is verified, you’ll be able to entry the OTC desk.

sFOX lets you use your account to commerce on a centralized orderbook of the world’s high crypto exchanges. The platform has in-built proprietary execution algorithms and order sorts obligatory for customizable buying and selling. As well as, you’ll be able to benefit from clever order routing, darkish pool, and sFOX being a regular prime vendor to cover your massive trades from market gamers. 

sFOX extends strains of credit score to certified OTC merchants enabling them to execute and full trades.

Important options:

• Based in 2014
• The minimal order measurement of 100 BTC
• Devoted buyer agent
• Android and iOS compatibility

Along with the specialised OTC cryptocurrency brokers on this checklist, quite a few massive digital asset exchanges, akin to Binance, itBit, and Kraken, additionally present OTC brokerage providers to their purchasers.