Best Crypto OTC Trading Platform

When it comes to the best crypto OTC trading platforms, Kraken must be mentioned! That’s because it has been providing top-notch OTC trading services for years and it has built a reputation as a reliable and trustworthy trading platform. 

Kraken OTC trading is the go-to platform for high-net-worth crypto traders. It’s available in the US and can be used globally at any time of the day or week.  

What’s more, it’s a commission-free OTC desk! In other words, you can trade for free, which is not very common among OTC trading platforms, as most of them charge fees that usually range from 0.1% to 1%.

Besides that, one of the best attributes of Kraken OTC trading is its AutoRFQ feature. In case you are not familiar with this term, let me explain it to you: 

AutoRFQ stands for Automated Request for Quote and it enables traders to obtain quotes for large trades without having to manually request them from multiple liquidity providers.

By the way, a quote is a bid or an offer to purchase or sell a certain cryptocurrency at a given price. It shows the price at which a specific cryptocurrency is currently trading and it indicates the willingness of buyers and sellers to engage in a trade.

So, put simply, the AutoRFQ allows for instant OTC trades! Pretty nice, right? Not every OTC trading platform has this feature and this is one of the reasons why Kraken is included in this crypto OTC trading platform review.

However, Kraken has something quite common among OTC trading platforms: it has a minimum order size. In Kraken’s case, the minimum amount is $100,000, which is not the highest in the market - that's good news!

Now, besides that, the platform also stands out for its diversity of digital assets: it provides a wide array of crypto assets (200+) and fiat currencies (7+). This is definitely good news for traders and buyers interested in spreading their investments across different assets or sectors. Moreover, Kraken has deep liquidity pools, which are great to prevent slippage!

If you think that’s good enough for making Kraken a great option, would you believe it if I told you it actually gets better? Well, that’s because, on top of everything, the platform provides excellent customer service.

The customer service team is available 24/7 and you can contact them via email, live chat, or phone to have a 1-on-1 conversation. The team can answer any question you have about the platform and even provide valuable insights.

As a result of being a reliable and trustworthy platform that high-net-worth crypto traders can definitely count on, Kraken has received high praise in many crypto OTC trading platform reviews for its reliability and trustworthiness.

Coinbase is a cryptocurrency exchange that also has an OTC trading option, which offers a range of features to professional traders and institutions. Due to its OTC trading service, provided by Coinbase Prime - an integrated solution of Coinbase -, it’s widely regarded as one of the best crypto OTC trading platforms on the market.

With Coinbase Prime, traders have access to OTC block trading, which is a type of trading especially good for institutional investors, as it typically involves larger trade sizes, as well as faster execution times and more price privacy!

One key feature of Coinbase Prime is its diversified liquidity and smart order routing pool, which allows traders to gain access to a wider range of prices from the overall cryptocurrency market. In other words, the prices don’t depend solely on Coinbase’s exchange prices!

Moreover, Coinbase Prime offers margin trading, meaning that users can borrow funds from the platform to invest in digital assets, potentially generating higher returns than they would be able to achieve using only their own funds.

Coinbase Prime also provides thorough post-trade reporting analytics that users can access at any time. Put simply, this feature basically enables users to keep track of their trading activity, leading to better-informed investment decisions in the future.

Regardless if you are an experienced trader or a new one, this feature can certainly help you!

What’s more, Coinbase originally only supported Bitcoin, however, that has changed! Now, the platform provides a broader range of digital assets.

As good as it is, Coinbase’s benefits actually don’t end here: it has a mobile app, as well as 1-on-1 customer support that is available 24/7 to answer any question users may have.

And, of course, we can’t talk about Coinbase without mentioning its efforts to ensure the safety of the platform: when signing up, users have to go through KYC protocols, among other safety measures. There is also the cold storage policy to keep the customer’s funds safe in an offline secure location.

Hence, Coinbase is certainly a crypto OTC trading platform legit and trustworthy!

Having said all of that, Coinbase is one of the best OTC trading platforms for institutional investors looking for a highly secure OTC desk that grants users access to both real-time and historical analytics for cryptocurrency spot and derivatives markets.

Bitstamp was launched in 2011 as an exchange platform and just recently started offering an OTC trading service. Although it hasn’t been long since its start, it already granted Bitstamp a place among some of the best crypto OTC trading platforms in the market.

Bitstamp's OTC trading service is notable for its Automated Request-for-Quote feature. Put simply, through the OTC RFQ tool, traders give details of the trade they wish to make, such as the amount of cryptocurrency they want to buy or sell and the desired price range. Then, the platform sends the request to multiple market makers who can provide bids for the transactions.

With Bitstamp’s OTC trading service, you can trade swiftly and without any risk of slippage. Moreover, the platform has multiple OTC dealers, which results in deep liquidity and prevents the disruption of the regular spot market.

The users of Bitstamp also have access to an institutional-trade matching engine powered by NASDAQ technology, which ensures that the customers receive unparalleled uptime and non-stop availability. Bitstamp also makes sure to support the traders through the 24/7 premium live customer service!

Regarding the size of orders supported by Bitstamp, they can range from $50k to $500k per transaction - this minimum order size is actually quite competitive!

Now, if you want to know if this platform provides good diversity of currencies, rest assured because it definitely does. The available pairs include BTC/USD, BTC/EUR, and LTC/USD, among many others.

What’s more, Bitstamp guarantees privacy by intermediating the transactions - which means you can trade completely anonymously. However, it’s worth noting that, in order to create a Bitstamp account, you will need to provide some personal information as part of the KYC protocols.

Despite all that, Bitstamp is great not only for OTC trading. It's a good crypto trading platform overall. Why? Mainly due to the fact that it's surely an established and turstworthy platform as it has been in the crypto industry since 2011, and it still is considered to be one of the best choices for many traders.

Besides that, it has low trading fees, strong security, a variety of payment methods, a convenient mobile app, and so much more!

In short, Bitstamp offers one of the best crypto OTC trading platforms in the market, with an Automated Request-for-Quote feature and a wide range of currencies with competitive order sizes and institutional-grade technology.

Huobi has a special service called Huobi Desk for those customers interested in OTC trading. This desk offers ultra-competitive quotations and optimizes capital efficiency while reducing the risk of market slippage. For this reason, Huobi surely fits into our “best crypto OTC trading platforms” list.

The Huobi OTC desk offers peer-to-peer (P2P) trading services to institutional investors, acting as a mediator between buyers and sellers. Moreover, it has multiple currency options for clients, as it supports trading pairs of major stablecoins and currencies, including USD, GBP, and HKD, as well as USDT and USDC.

Moreover, the Huobi OTC Desk also provides settlement flexibility, allowing clients to lock in their desired price and settle trades to their Huobi account, bank account, or external wallet of their preference.

Fee-wise, Huobi OTC Desk is completely free! What’s more, when it comes to security, this platform doesn’t disappoint either, as Huobi is a service provider compliant with a strict regulatory framework.

Some of the safety protocols followed by it include rigorous KYC and verification of documentation such as proof of income, and so on.

This, of course, is only done to ensure the system is not disrupted by scammers and rule-breakers! This level of precaution is definitely outstanding, that's why this platform consistently earns good points in crypto OTC trading platform reviews.

Though note that, Huobi is a great cryptocurrency trading platform overall with a good reputation in the industry. For one, it has high liquidity and a variety of supported cryptocurrencies. Besides that, it's great for both beginners and advanced users as it has a user-friendly interface and a responsive customer support.

Hence, Huobi Desk is an excellent choice for institutional investors looking for a safe and efficient trading experience.

Uphold is a digital money platform that allows users to buy, sell, and trade a wide range of assets, including cryptocurrencies, fiat currencies, and even some precious metals. Founded in 2013 by Halsey Minor, Uphold aims to make financial services more accessible and transparent.

The platform supports more than 300 different cryptocurrencies, including popular ones like Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP), as well as many lesser-known altcoins.

One of its key features is the ability to trade directly between different asset classes in a single step. For example, you can easily exchange Bitcoin (BTC) for gold or US dollars for euros without multiple transactions or conversions.

In terms of crypto investment, Uphold also offers staking, allowing you to lock up your assets and receive rewards of up to 17.6% APY. As of now, Uphold supports 19 digital assets on its staking platform.

Uphold is known for its transparency, publishing its assets and liabilities every 30 seconds for anyone to see. This "100%+ reserve" model aims to assure users that their funds are safe and available. The platform also has SOC 2 Type 2 and ISO 27001 certifications, which further enhances its credibility and demonstrates its commitment to secure and reliable operations.

Disclaimer: don’t invest unless you’re prepared to lose all the money you invest.

Crypto.com is a prominent player in the cryptocurrency world, offering a comprehensive suite of financial services centered around digital assets. Founded in 2016, the platform has grown rapidly, boasting a user base of over 100 million by mid-2024.

Crypto.com provides a user-friendly app for buying, selling, and trading around 400 cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), and many altcoins. Beyond its exchange services, Crypto.com offers a non-custodial DeFi wallet, an NFT marketplace, and even a direct payment service for cryptocurrency transactions.

One of Crypto.com's most recognizable features is its Visa card, which allows users to earn cashback in CRO, the platform's native token, on their everyday spending. The card comes in various tiers, each offering different levels of rewards and perks, such as rebates on streaming subscriptions and airport lounge access.

Crypto.com also takes security seriously. It holds all customer assets deposited on our platform in institutional-grade reserve accounts on a 1:1 basis. Users’ accounts are protected by the latest security advancements, including Passkeys, HSMs, and FIDO2, as well as MFA methods like passwords, biometrics, and authenticator codes.

It also runs an active bug bounty program on Hacker One, where people can disclose security vulnerabilities on the platform and get rewards.

BYDFi is a cryptocurrency exchange platform that aims to provide a user-friendly experience for both novice and experienced traders. While relatively newer compared to some established giants, BYDFi has focused on offering a diverse range of trading options. Some of BYDFi’s key features include:

• Spot Trading: Buy and sell cryptocurrencies at current market prices.
• Derivatives Trading: Trade cryptocurrency futures and options contracts.
• Copy Trading: Automatically replicate the trades of experienced traders.
• Mobile App: Trade on iOS and Android devices.
• Educational Resources: Guides and tutorials for learning about crypto trading.
• Trading Bots: Use automated tools to trade cryptocurrencies like a pro.

The platform supports more than 400 cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), and Litecoin (LTC). BYDFi also aims to provide competitive trading fees by offering a flat maker/taker rate of 0.1% on its spot trading platform.

When it comes to security, BYDFi implements essential measures to ensure users' data and funds safety. It uses Amazon Web Services, multi-factor authentication and hardware verification, as well as SHA512 with 512-bit encryption to protect the system. Users can also use two-factor authentication (2FA) using Google Authenticator and SMS to protect their accounts.