Top OTC Crypto Exchanges in the World

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The over-the-counter or OTC crypto exchanges have rapidly increased since their inception. Several big sharks, and institutional investors worldwide are captivated by its potential. One of the important factors that attracts investors is its ability to solve multiple issues of crypto traders when they use conventional crypto exchanges. 

In the last few years, many crypto traders have switched their focus from conventional exchange-traded products to more specialized virtual assets via OTC trading. Among other trading strategies, your choice of platform can greatly impact your outcomes as an OTC trader. OTC exchanges offer several advantages in attracting entrepreneurs worldwide. However, trading on an OTC crypto exchange requires knowledge. 

In the next segment, we will discuss the over-the-counter crypto exchange and how it works. 

What is an OTC Crypto Exchange?

For novice traders, it might be very difficult to understand the difference between conventional crypto exchanges, and OTC crypto exchanges. 

What is an over-the-counter crypto exchange, and how does it work? OTC crypto trading is a platform for traders to directly trade among themselves. They can trade both crypto to fiat and crypto to crypto transactions. An OTC platform acts as a mediator to connect sellers and buyers of cryptocurrencies. The cost of OTC traders is entirely determined by the two parties and is not influenced by the broader crypto market. 

If two parties are planning to conduct large traders, OTC platforms are their best option. This is because when large traders take place in conventional crypto exchanges, the price can change significantly, and have a large impact on the crypto market. On the contrary, with the OTC crypto exchange, the market remains undisturbed. Since the trades are not conducted in public, they provide privacy to both parties, and it is not reported publicly. 

Now that we know what OTC crypto exchanges are, let’s see how it works. 

  • Firstly, the users are required to register on the platform. Thereafter add their bank accounts to the wallets. 
  • Next, the traders need to provide all the necessary documents to complete the KYC verification process. 
  • The admin thereafter reviews the user’s documents to ensure the transaction’s eligibility. 
  • Thereafter, the users need to transfer the specified funds to the bank account. The details are available on the deposit page. 
  • The users can trade their virtual assets through the OTC desk.
  • The exchange admin thereafter sets the price for selling and buying the crypto assets.
  • The users can choose their order volume, and price, and place the order.
  • After the confirmation, the exchange admin transfers crypto to the user’s wallet address. 

Here’s how an OTC crypto exchange works. If you are a crypto trader, and planning to shift your trading from conventional crypto exchanges to OTC desk, this article is for you. We have the list of top OTC crypto exchanges in the world. Let’s dive into the details. 

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Top OTC Crypto Exchanges

TechResearcho has listed the top OTC crypto exchanges in the world. Let’s understand what OTC trading means. In the crypto trading industry, the intermediaries in OTC trading are known as the OTC desk. The most common of them are OTC brokers. The OTC desks act as market makers. They hold an inventory of virtual assets and offer to sell or buy those at a quoted price. 

The OTC crypto exchange platforms not only act as intermediaries. They also offer services such as risk management, market analysis, and asset custody. There are several OTC exchanges available in the world. Some of the popular platforms such as Coinbase and Kraken are the top two in our list. However, it is crucial to note that not all of these platforms offer broker services. 

As mentioned before, some platforms only offer a platform for buyers and sellers to conduct direct trades. One such platform is KuCoin, as it offers a Peer-to-peer OTC trading market. The best part of OTC trading is that the two parties can conduct anonymous trading without revealing their identities. Now that we have covered the fun facts of OTC trading, let us check out the list of top OTC crypto exchanges in the world. 

1. Coinbase

coinbase logo

Founded in 2012, Coinbase is one of the largest crypto exchanges in the USA. It offers crypto users access to real-time market data. They also allow users to place orders via REST/FIX APIs and WebSocket feeds. 

The company has one goal, ‘to make crypto accessible to everyone.’ With a user-friendly and reliable platform, Coinbase is a popular crypto platform that offers OTC trading: Coinbase Prime. 

The platform not only inherits the stellar reputation of Coinbase, but it has up its game to the standards. The trading services are available for large traders and institutions as well. 

Features of Coinbase: 

  • Users can access liquidity from supported exchanges outside of Coinbase
  • Allows users to secure offline cold storage for custodial assets
  • Offers application with multiple features for OTC traders 
  • Insurance coverage of $320million
  • Offers API for auto trading

Like every platform, Coinbase has its own set of pros and cons. These are:

Pros: 

  • Offers NFT custody
  • Supports over 300 assets for trading
  • Provides governance and OTC staking

Cons:

  • Unclear trading minimums and account
  • The platform is under strict regulatory scrutiny
  • Charges higher fees

The platform is built for hedge funds, VCs, assets managers, private wealth managers, endowments, sovereign wealth funds, and private equity. 

2. Kraken

Kraken crypto exchange

Kraken was founded in 2011 and has since been at the forefront of blockchain and innovation. The exchange is well known for its large markets and multiple features. Their primary goal is to promote crypto acceptance worldwide. Thereafter, it enables the world to achieve financial inclusion and independence. 

The top-notch technology, and high-end security, Kraken is the best platform for both experienced and novice traders in the crypto industry. Kraken OTC is an institutional trading platform. The platform supports trading across all coins supported by the conventional Kraken crypto exchange. It uses a Request-for-quote system that allows traders to enter the price, date, and timings of their trades. Thereafter they get matched with a party to execute the trade. The platform provides 24/7 support to the traders. Moreover, offer a one-on-one service to their client. 

Features of Kraken OTC Crypto Exchange: 

  • 1 on 1 service
  • Chat support for traders
  • Access to AutoRFQ system for self-place traders
  • Flexible settlement options. 

Pros:

  • Execute instant trades with the RFQ system
  • Request for live quotes
  • Supports a wide range of assets 
  • The platform offers auto prices and all fees
  • Kraken offers OTC trading for institutions of all sizes. 

Cons:

  • Features beyond trading are unclear
  • Not available for people residing in Japan
  • The application form is lengthy. 

3. Crypto.Com

crypto.com logo

Crypto.com was recognized with the 2023 Finder Award for being the Best Exchange for Altcoin Trading. They offer a wide range of assets that includes over 250 cryptocurrencies for selling and buying with high liquidity. The platform uses the Request-for-quote system to auto-match parties. Thereafter conducting the swift flow of transactions. While other OTC platforms rely on manual liquidity matching, crypto.com uses RFQ system features. 

The RFQ system of crypto.com processes transactions instantly. Thereafter, it is an added advantage for traders since other OTC platforms use manual matching. Here are some of the features of the platform that make it on our list of top OTC crypto exchange platforms worldwide. 

Key Features:

  • Among other pairs, traders can choose BTC/USFT, ADA/USDC, ETH/USFT, etc. 
  • Even on large trades, the process takes seconds. 
  • Users only need to pay trading fees for transactions
  • Offers a robust quote history, and trading history features. 

Pros: 

  • Offers comparatively low trade size
  • Unlike OTC desks, the trades are executed within seconds. 
  • Offers a complete suite of products that includes credit cards, tokens, and an NFT marketplace. 

Cons:

  • It only offers trading products with zero support for borrowing, lending, or custody. 
  • The maximum amount for an order is $5,000,000.
  • Like OTC desks, the service here is not 1 on 1. 

The platform offers wallets, an NFT marketplace, and platform tokens with OTC offerings for large traders. However, it is available only for VIP clients, and selected institutions.

4. Binance

Binance logo

Binance is one of the largest crypto exchanges in the world since 2018. Valued at $ 1.3 billion the exchange has maintained its reputation in the industry for long. The exchange offers users to pay using BNB. They have also launched their stablecoin BinanceUSD (BUSD). As the name suggests it is tied up with US dollars. There are several trading options available in the exchange including spot, P2P, and margin trading.

Key Features of Binance OTC Platform:

  • Users can trade crypto directly without intermediaries
  • Supports several payment methods such as wallets, bank transfers, and third-party payment processors.
  • The platform offers secret escrow services.
  • Traders can review and rate each other’s.
  • The platform offers 24/7 customer support.
  • Offers over 500 cryptocurrencies

Pros of Binance OTC Crypto Exchange:

  • Direct trading among users
  • Supports multiple payment methods
  • Charges low fees in comparison to conventional exchanges

Cons of Binance OTC Crypto Exchange:

  • Takes time to resolve disputes among traders
  • Trading depends on finding the best counterparties
  • The P2P exchange may face regulatory challenges in some jurisdictions

5. Bitfinex

Bitfinex logo

Bitfinex is one of the first crypto exchanges established in 2012 by a group of blockchain and crypto enthusiasts. The team has a decade of experience in finance and technology. It has listed over 200 cryptos, 60 perpetual futures contracts and more than 400 spot trading pairs.

Main Features:

  • This platform offers custom services for high net worth individuals and institutional investors
  • Customers can access liquidity through the OTC desk or trade directly with their counterpart
  • 24//7 customer support available for investors
  • Bitfinex uses industry standard security and they use dedicated bare-metal servers
  • 200+ tokens, 60 futures contracts listed
  • This platform supports over 400 spot trading pares

Pros:

  • Supports all major cryptocurrencies
  • Industry standard fees
  • Bitfinex paid to all customers who losses in 2016 hack
  • Provide high liquidity

Cons:

  • This platform not accepts United States clients
  • Can add more altcoins

6. HTX

Huobi logo

HTX, formerly Huobi, was founded in 2013. The mission was to accelerate the digital economy through the blockchain and cryptocurrencies. HTX is registered and licensed in various locations across the globe, like Lithuania, Gibraltar, Dubai, Australia, BVI, and South America. This platform supports all leading digital assets.

Main features:

  • Industry standard security features available
  • Supports voice trading for trading equivalent of $100,000 or above
  • Industry standard transaction settlement time
  • Direct access to global liquidity pool
  • Institutional investors or high net worth individuals can buy/sell assets in real time at the OTC desk

Pros:

  • Traders have the ability to engage in leveraged trading, with leverage of up to 5x, across more than 80 tokens within spot markets
  • Traders from 130 can trade on the exchange
  • Supported more than 600 alt token
  • Multi Language supported exchange
  • Personalized services for institutional investors

Cons:

  • Limited fiat currency supported
  • Withdrawal fees are relatively high
  • Complicated verification process

7. Kucoin

Kucoin

KuCoin is a well-known crypto exchange and is a competitor of major players in the industry. Offering over 600 cryptocurrencies, both experienced and novice traders can make trades. The multiple advanced features of the platform set it apart from the competitors in the market. It also charges comparatively low fees among other exchanges.

Key Features of KuCoin OTC Crypto Exchange:

  • Offers direct trading opportunities among traders
  • Supports multiple payment methods
  • Secure escrow service
  • Charges low fees

Pros of KuCoin OTC Crypto Exchange:

  • Secure escrow service
  • Low fees
  • Global accessibility

Cons of KuCoin OTC Crypto Exchange:

  • Limited crypto selection
  • Market volatility risks
  • Complex platform for beginners

8. TD Ameritrade

TD ameritrade logo

TD Ameritrade is one of the oldest Stockbrokers and Electronic trading platforms. TD Ameritrade was established in 1971 by Joe Ricketts in Omaha, United States. This company offers trading including stocks, futures contracts, exchange-traded funds (ETF), OTC crypto trading, forex, options. It also offered mutual funds, fixed income investments, margin lending, and cash management services.

On this platform, investors can execute over-the-counter (OTC) crypto transactions similar to closed-end funds. They do not need to possess a cryptocurrency wallet to initiate direct trades on the blockchain network.

Key Features of TD Ameritrade OTC Exchange:

  • Personalized Support for Institutional investors
  • 24/7 live support from trade desk
  • Modern platform with all the trading options available
  • Award winning educational program for traders & investors

Looking Forward

In the world of crypto trading, OTC crypto exchanges are the key players. With popular exchanges worldwide, professional investors can always have places to invest in cryptocurrencies. In conclusion, these exchanges offer a realm of opportunities, where anonymity becomes efficient. With OTC trading platforms, the world of finance will be at your fingertips.

Frequently Asked Questions

1. What is an OTC Desk?

OTC or over-the-counter trading is a trading method best suited for high-volume traders and institutions. In conventional trading, the OTC desks are used to conduct large traders for huge buyers who require liquidity. In crypto, the OTC crypto exchanges work the same. They include a white glove service for institutions and high-net-worth clients such as family offices, banks, and hedge funds. The benefit of the OTC desk is that it protects the client’s privacy and keeps the volume figures hidden.

2. How Does OTC Trading Crypto Work?

The majority of the OTC desks need approval to enforce trade minimums that begin in the five/six figures. These platforms also offer individual account representatives for their clients. The majority of the platforms allow the users to choose between selling, lending, buying, borrowing, and custody services.

Often, the OTC desks connect sellers, and buyers to conduct trades based on cases. Several large platforms also maintain their own conventional crypto exchanges. These platforms also have their own liquidity pools to conduct instant trades, similar to traditional crypto exchanges.

3. Can I Buy Crypto OTC?

The Crypto OTC desk is mainly for large investors such as high-net-worth individuals, early adopters, and institutional investors. Mostly, to sell and buy large amounts of digital assets. All the transactions are made in private, thereafter keeping the market conditions unaltered.

4. Is OTC Crypto Trading Legal?

The OTC crypto exchanges are not forma exchanges. However, these platforms are regulated under the SEC. An investor can trade bonds, stocks, foreign exchange currency, and derivatives on the OTC marketplace.

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