The Top 7 OTC Bitcoin Brokers That You Can Use in 2023

If you are looking to purchase large quantities of bitcoin, an OTC broker might be a good option. This will allow you to not move the market by placing orders on exchanges.

This guide will provide information about OTC bitcoin brokers and a list of reputable bitcoin brokers that you can use.

Who are OTC Bitcoin Brokers

OTC (over the counter) bitcoin brokers facilitate large transactions between trading counterparties in bitcoin in a private and direct manner.

Large amounts of bitcoin must be purchased using a different method than regular trading on cryptocurrency exchanges. Due to the low liquidity and potential price slippage, traditional methods of purchasing bitcoin via exchanges are not suitable for large-volume purchases.

OTC bitcoin brokers offer more discreet and secure channels for professional traders and institutional investors to purchase and sell large amounts of bitcoin (BTC). They protect their customers against price slippage that could negatively impact their execution price. This would be likely if they traded on crypto exchanges.

OTC bitcoin brokers use a network (buyers and sellers), to execute trades and meet their clients’ trading requirements.

Patrick Lowry, CEO Cryptology AG, said Cryptonews.com

OTC brokers are essential to the Bitcoin trading system because they allow professional and institutional investors to trade the digital currency and reduce the impact of their trades on the execution price. For example, if you want to move 100 BTC, placing large orders on an exchange would cause the market to move as it would indicate that there is a bigger buyer or seller. An OTC broker would allow you to trade with another large counterparty directly in just one or two transactions.

Top 7 OTC Bitcoin Brokers

Let’s now look at some of the most popular bitcoin brokers.

Bitcoin Reserve

Bitcoin Reserve Estonian-based OTC trading platform that allows you to buy bitcoin (BTC), or bitcoin-related assets, in excess of 10,000 USD OR EUR. A team of international brokerage professionals founded the bitcoin trading service in 2018 to provide a customized OTC trading experience for bitcoin enthusiasts.

Register for an account to start trading with Bitcoin Reserve. Registering for an individual account can take less than 5 minutes. It can take up 48 hours to sign up for a corporate account. You will need to present an identification document such as a passport, driver’s licence, or permanent residence card during registration.

You can trade any amount, but if you make more than 10,000 USD or EUR per month, you will be able to access additional services such as personalized communication options and 24/7 support.

Main features:

• In 2018 it was founded
• No minimum order size
• Tiered fees structure available from 2.99% to 0.65%
• OTC trading for BTC, Liquid BTC, USDT & Liquid USDT
• Support for customers 24/7
• Only available in web-version

B2C2

B2C2 The UK-based OTC broker for crypto OTC, which aims to provide institutional investors with access to crypto through reliable liquidity. The crypto trading platform was founded in 2015. It uses its proprietary software and innovative OTC options, including spot trading for the most liquid fiat and crypto currencies, institutional-grade derivatives products, structured loans and other products.

B2C2 is the preferred partner for crypto liquidity in many institutions. You will need to provide a few details in order to access B2C2’s crypto OTC solutions. These details include your name, company name, and what services you are looking for. After you submit these details, an onboarding starter package will be sent to you. This pack will contain all the KYC and compliance information required to complete your application.

You can buy and sell any amount, from very small amounts up to bitcoin blocks worth millions of dollars. Clients of B2C2 include banks, brokers, fund managers, fund managers, and exchanges. The platform is not available to retail clients.

Main features:

• In 2015, the company was founded
• Minimum order amount of 0.0005 BTC
• Flat fee of 2% per annum Both long and short-term positions are subject to a flat fee of 2% p.a.
• OTC trading is available in all major cryptos, including LTC, ETH and XRP.
• Support for customers 24/7
• Only available in web-version

Cumberland

Cumberland OTC bitcoin trading is offered by a Chicago-based cryptocurrency company. Cumberland was established in 2014 as a subsidiary to DRW, a long-standing, diversified trading company. It offers a unique trading experience and 24/7 access to customer representatives. Cumberland also allows counterparties to access its electronic suite which offers real-time streaming and two-way pricing as well as an API.

You must complete an onboarding process in order to trade with Cumberland. Individual and institutional onboarding will require personal information, KYC documents and payment information. After the process is completed, Cumberland will review your details and, if satisfied with the information, open your trading account. Cumberland allows you to trade instruments up to $100,000 in size.

Main features:

• In 2014, the company was founded
• Minimum order size is $100,000.
• Trading is free of any percentage fees
• OTC trading with BTC and 150 digital assets
• Customer support
• Only available in web-version

FalconX

FalconX OTC Trading Service is based in Malta. It uses data science to provide clients with the best trade execution. The company was founded in 2018 and acts as a digital asset trading platform and crypto broker. This platform is for institutional investors, such as hedge funds and payment providers. It also supports proprietary traders. FalconX is home to a diverse team of finance and tech professionals and has offices in Asia and the US.

FalconX’s platform allows for efficient trade execution of OTC transactions. Clients have access to almost 100% uptime as well as the largest aggregate liquidity. Multiple crypto pairs can be traded with FalconX electronic system. The broker can also offer market making, credit and treasury management and other services.

You will need to fill out the following information: your name, type, and a range for your expected trading volume monthly. Also, you will need to express your interest in FalconX.

Main features:

• In 2018 it was founded
• Customer support
• Only available in web-version

Jump trading

Jump trading The Chicago-based proprietary trading company acts as an institution brokerage. The company was founded in 1999 and is at the forefront of algorithmic trading to drive the company’s research and quantitative trading approach. Jump Liquidity, an electronic cryptocurrency trading platform was developed by the company in 2018. Jump Trading can now offer its counterparties better access to liquidity via Jump Liquidity.

Jump Trading provides top-quality computational capabilities to guide data analysis for OTC crypto trades. Jump is a principal trading partner and works with many counterparties via its electronic trading platform or super streaming API. Jump Trading’s Crypto Jump division provides technical and liquidity support to emerging crypto platforms and projects.

Jump Trading can be reached directly via the contact email provided on the website. You can also reach their Global Sales team via the email address on the site. Jump Liquidity site.

Main features:

• In 1999, the company was founded.
• Customer support
• Only available in web-version

Satstreet

Satstreet Canadian-based cryptocurrency exchange, which works to make Bitcoin accessible to all. The company was founded in 2020 and aims to bridge traditional finance with cryptocurrency. Satstreet uses industry-leading APIs with smart order routing and local banks to provide fast settlements. Satstreet’s OTC desk lets you trade many cryptocurrencies including bitcoin (BTC), and ether (ETH).

You will need to open a bank account for either a personal or commercial bank account in order to get started with Satstreet. You will need to complete KYC and other compliance information depending on which type of account you have. After you submit the required data, it may take up to 24 hours to set up your account.

Request a quote at the private client trading desk. You can even get a price after you have funded your account. Satstreet can facilitate bitcoin transactions for clients located in the US or Canada.

Main features:

• In 2020, the company was founded
• Minimum order size $25,000
• Competitive trading fees of 1%
• OTC trading of BTC, ETH and other digital assets
• Customer service specialists
• Mobile Support

sFOX

sFOX The San Francisco-based crypto prime broker for institutional investors, sFOX, provides liquidity and the infrastructure necessary to execute large trades. Founded in 2014, sFOX aims to bring together the crypto ecosystem via a single point-of-access. This will make it more efficient and aggregate liquidity from different sources. As a scalable platform for institutional crypto trading, the platform was created internally.

To trade with sFox, you must create an account. You can choose between a business or individual account, just like other OTC brokers. Once your account has been verified, you will be able to access the OTC desk.

Using sFOX, you can trade on the centralized orderbook of top crypto exchanges around the globe using your account. It has the necessary order types and proprietary execution algorithms to allow for customized trading. You can also take advantage intelligent order routing, dark pools, and sFOX, a standard prime broker, to conceal large trades from the market.

sFOX provides lines of credit to OTC traders who are qualified to execute and close trades.

Main features:

• In 2014, the company was founded
• Minimum order size is 100 BTC
• A dedicated customer agent
• Android and iOS compatibility

This list includes OTC cryptocurrency brokers, but many large digital asset exchanges such as Binance and itBit also offer OTC brokerage services for their clients.