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Over the Counter (OTC) Bitcoin

July 6, 2020

What is Over the Counter Bitcoin?

Over-the-Counter (OTC) Bitcoin refers to a traditional OTC trading desk where high net worth and institutional investors can buy large sums of Bitcoin or other cryptocurrency securely and quickly (generally over $100,000). 

There are many Over-the-counter (OTC) trading desks globally that offer private and more personalised services for large investors to fill orders that might be too disruptive if placed on an open market exchange. Whether it is $100,000, $1,000,000 or $10,000,000 - Bitcoin OTC desks will provide you with fast execution and settlement services that are secure and competitive in pricing.

Over-the-counter or ‘OTC’ trading is commonly referred to as off-exchange trading and is not specific to crypto. OTC deals can involve a broad range of assets from commodities to financial instruments such as stocks and derivatives. Generally, OTC markets and deals are done via dealer networks where an agent or broker brings buyers and sellers together. This differs from exchange trading where buyers and sellers trade peer to peer by posting their own price levels on an open order book.

OTC Desks visualised

How it Works:

Generally speaking, to onboard as an OTC client on an exchange requires a similar verification process to what you would go through when signing up as a normal client. Some exchanges may put you through stricter verification processes due to the high stakes involved in over-the-counter Bitcoin trading.

1. Pick a desk and sign up

Get started by simply clicking one of the OTC desk’s below and signing up for their services. You can then email their support team requesting that you want to buy or sell a larger amount of Bitcoin or digital assets over-the-counter.


2. Onboard with the desk

To onboard as an OTC client, you will be put through the highest level of verification to enable large scale transactions. All OTC clients are required to provide documentation such as Government ID, Proof of Residence and Proof of Income. 


3. Communicate the trade

Once you are onboarded, the OTC desk will open up a line of communication via chat, text or call and speak with you about your desired trade. The communication can be as simple as: 

You: “ I would like to buy 100 Bitcoin.”

OTC Trader: "I can sell you 100 BTC at a price of $9,000 USD per Bitcoin"


4. Confirm your trade

You can choose whether or not to accept the price offered by the OTC trader. If you want to proceed, you can say something like “Done, I buy” and the trade will be confirmed. The trader will ask for a deposit address where they can then send the purchased Bitcoin or digital asset.

After confirmation of the trade, you will then get an email confirming the transaction. In the email, you will find instructions to pay the OTC bank account.


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