Top 7 OTC Bitcoin Brokers You Can Use in 2023

If you are looking to buy large amounts of bitcoin, you may consider engaging an OTC bitcoin broker to avoid moving the market by placing your orders on exchanges.

In this guide, we will explain what OTC bitcoin brokers are and list reputable bitcoin brokers you can use.

Who are OTC Bitcoin Brokers?

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

Buying large amounts of bitcoin needs a different approach than regular trading on crypto exchanges. The traditional ways of buying bitcoin through exchanges are not suitable for large volume purchases due to the relatively low liquidity of Bitcoin exchanges and the potential for price slippage.

OTC bitcoin brokers offer more discreet and secure channels for high net worth individuals, professional traders and institutional investors to buy and sell large amounts of bitcoin (BTC) at the best possible price. These brokers protect their clients from negatively affecting the execution price due to price drift, which would likely be the case if they were trading on a crypto exchange.

OTC bitcoin brokers leverage a network of counterparties (buyers and sellers) to execute trades and fulfill their clients’ trading needs.

Patrick Lowry, CEO of Cryptology AGtold Cryptonews.com:

“OTC brokers play an important role in the Bitcoin trading ecosystem because they enable professional and institutional investors to buy and sell the digital currency while reducing the trade’s impact on the execution price. For example, if you want to exchange 100 BTC, you can placing a handful of large orders on an exchange would move the market as it would signal that there is a major buy or sell in town.Using an OTC broker, you would likely be able to make that trade directly with another major counterparty in one or two transactions.”

Top 7 OTC Bitcoin Brokers

Now that you know what over-the-counter bitcoin brokers are, let’s go over some of the more popular bitcoin brokers in the space.

Bitcoin Reserve

Bitcoin Reserve is an Estonian-based over-the-counter (OTC) trading service that allows you to buy bitcoin (BTC) or bitcoin-related assets worth over USD 10,000 OR EUR. The bitcoin trading service was founded in 2018 by a team of global brokerage experts to provide a personalized OTC trading experience to bitcoin enthusiasts.

To start trading with Bitcoin Reserve, you need to register for an account. It takes up to 5 minutes to register for an individual account. It can take up to 48 hours to register for a business account. During registration, you must provide an ID document such as a passport, driving license or permanent residence card.

Although you can trade any amount you want, if you trade over 10,000 USD or EUR monthly, you can enjoy an additional range of services such as personalized communication options and 24/7 guard services.

The main features:

• Founded in 2018
• No minimum order size
• Gradual fee structure from (2.99%-0.65%)
• OTC trading for BTC, Liquid BTC, USDT and Liquid USDT
• Dedicated customer support
• Online version only

B2C2

B2C2 is a UK-based crypto OTC broker that aims to offer institutional investors access to crypto by providing reliable liquidity. Founded in 2015, the crypto trading platform uses its proprietary software and innovative OTC solutions, which include spot trading for the most liquid crypto and fiat currency pairs, institutional derivative products, structured loans and other products.

B2C2 is proud to be the crypto-liquidity partner of choice for countless institutions. To access B2C2 crypto OTC solutions, you need to submit a few details. This information includes your personal details, company name and the nature of the services you are seeking. Once you have submitted these details, you will be sent an onboarding starter pack. The package will outline the relevant KYC and compliance information required to complete the application.

B2C2 allows you to buy and sell anything from small amounts to over million dollar bitcoin blocks. B2C2 customers range from stock exchanges, brokerage houses, fund managers and banks. The platform does not serve any retail customers.

The main features:

• Founded in 2015
• Minimum order size of 0.0005 BTC
• A fixed fee of 2% pa on long and short positions
• OTC trading in all major cryptos including BTC, LTC, ETH, XRP, BCH, DOT, UST, USDC, LINK and more.
• Dedicated customer support
• Online version only

Cumberland

Cumberland is a Chicago-based crypto company that offers OTC bitcoin trading to investors and institutions to capitalize on new ventures. Launched in 2014 as a subsidiary of DRW, a decades-old diversified trading firm, Cumberland offers a unique trading experience with 24/7 access to client agents. In addition, Cumberland allows counterparties to access the electronic suite, which provides real-time, streaming and two-way pricing, as well as the API.

To start trading with Cumberland, you must go through an onboarding process. Both individual and institutional onboarding processes require you to provide personal information, KYC documents, payment information and more. Once the process is complete, Cumberland will review the details and, if satisfied, set up your trading account. The minimum size of an instrument you can trade on Cumberland is $100,000.

The main features:

• Founded in 2014
• Minimum order size is $100,000
• No percentage fee charged when trading
• OTC trading in BTC and 150+ digital assets
• Customer service
• Online version only

FalconX

FalconX is a Malta-based OTC trading service that relies on data science to provide the best trade execution for clients. Founded in 2018, the company operates as a crypto broker and trading platform for digital assets. The platform is designed for institutional investors such as hedge funds, payment providers, crypto miners, proprietary traders and more. FalconX has a diverse team with finance and technology backgrounds and has offices in the US and Asia.

FalconX offers efficient trade execution for OTC transactions through its platform. Customers can enjoy almost 100% uptime and the most extensive aggregated liquidity. FalconX electronic system can be configured to trade multiple crypto pairs. The crypto broker also offers credit and financial management, market making and other services.

To get started with Falcon X, you’ll need to submit your details, specify your device type and select a range of your estimated monthly trading volume. You must also explain your interest in FalconX.

The main features:

• Founded in 2018
• Customer service
• Online version only

Skip trading

Skip trading is a Chicago-based proprietary trading firm that serves as an institutional brokerage. Founded in 1999, the company remains at the forefront of algorithmic trading to drive research and quantitative trading approach. In 2018, the company developed an electronic crypto trading platform known as Jump Liquidity. Jump Liquidity allows Jump Trading to offer enhanced access to liquidity on a customizable basis to its counterparties.

Jump Trading offers premium computational capabilities that guide data analysis of OTC crypto trades. Jump acts as a master trading partner working with multiple counterparties through its electronic trading platform or superstreaming API. Crypto Jump, a division of Jump Trading, to provide liquidity and technical expertise to emerging crypto projects and platforms.

To get started with Jump Trading, contact them directly via the contact email on the page. Alternatively, you can contact their global sales team at the email provided at Jump Liquidity the website.

The main features:

• Founded in 1999
• Customer service
• Online version only

Sat tree

Sat tree is a Canadian-based crypto exchange working to make bitcoin accessible to the masses. The company was launched in 2020 and aims to bridge the gap between traditional finance and cryptocurrency. Sattree relies on industry-leading APIs, with smart order routing, and uses local banks for near-instant settlement. Satstreet’s OTC desk allows you to trade a wide range of cryptocurrencies, including bitcoin (BTC) and ether (ETH).

To get started on Satstreet, you must register for a personal or business bank account. Depending on the type of account, you will need to provide KYC and compliance details. Once you have submitted the relevant data, the platform will take up to 24 hours to set up your account.

You can request a quote from the private customer trading desk and even secure a price once you have deposited money into your account. Sattree can facilitate bitcoin trades from $25,000 – $100,000 for customers in the US and Canada.

The main features:

• Founded in 2020
• Minimum order size of $25,000
• Competitive trading fees of 1%
• OTC trading in BTC, ETH and other digital assets.
• Dedicated customer service
• Mobile support

sFOX

sFOX is a San Francisco-based crypto-prime dealer for institutional investors that provides the liquidity and infrastructure needed to execute large trades. Founded in 2014, sFOX was created to integrate the crypto ecosystem through a single access point, thereby making it more efficient and pooling liquidity from various sources. The platform was developed in-house as a scalable solution for institutional crypto trading.

You must create an account to start trading with sFox. Like other crypto OTC brokers, you can choose between a personal or corporate account. Enter the required details and once the account is verified, you can access the OTC desk.

sFOX allows you to use your account to trade on a centralized order book of the world’s top crypto exchanges. The platform has built-in proprietary execution algorithms and order types necessary for customizable trading. In addition, you can take advantage of intelligent order routing, dark pool and sFOX as a standard prime dealer to hide your large trades from market participants.

sFOX provides lines of credit to qualified OTC traders to enable them to execute and complete trades.

The main features:

• Founded in 2014
• Minimum order size of 100 BTC
• Dedicated customer agent
• Android and iOS compatibility

In addition to the specialized OTC cryptocurrency brokers on this list, many major digital asset exchanges, such as Binance, itBit and Kraken, also offer OTC brokerage services to their clients.