5 Best Crypto OTC Services In Canada (Jul 2022)

June 6, 2022
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Crypto OTC (over-the-counter) trades are private crypto purchase and sale transactions that lack a public order book and aren’t made in regular crypto exchanges. This comes with some benefits, such as an increase in privacy for both crypto buyers and sellers, and it also has a very low impact on cryptocurrency markets, meaning that you can worry less about the dreaded price slippage that would happen if you were to place large crypto orders on a regular exchange.

If you’re looking for a platform that will allow you to trade between $25,000 and $10+ million in Bitcoin (BTC) over the counter, you should be using Satstreet, a white-glove trading experience for high-volume investors. They take a highly personalized approach to crypto investing, focusing their efforts on offering excellent service to a small number of big accounts: with dedicated account managers available whenever you need them, Satstreet offers a level of customer service no other exchange can match, which is why we recommend opening an account on the platform today.

What Is The Best Crypto OTC Service?

#1 Satstreet

If you’re trading between $25,000 and $10+ million, you should be using Satstreet. Satstreet is not like the other exchanges on this list: it’s a white-glove trading experience for high-net-worth investors and corporations. They take a highly personalized approach to crypto investing, focusing their efforts on offering excellent service to a specific segment of the Canadian market.

Satstreet has extremely deep liquidity that allows it to offer fixed prices on large orders with zero slippage. Placing a $100,000 buy order is nearly impossible on most Canadian exchanges, but Satstreet handles orders that size (and much larger) every day. 

Satstreet clients can choose to take custody immediately after a transaction,  get access to an account with a qualified custodian, leverage their proprietary custody solution, or choose a multi-sig collaborative security setup involving multiple hardware wallets and co-signers. Satstreet also offers video verification on withdrawals and whitelisted wallet addresses, both of which ensure that only you can withdraw your funds. 

With dedicated account managers available whenever you need them, Satstreet offers a level of customer service no other exchange can match. If you’re ready to invest $25,000 or more, Satstreet is for you. 

Features

  • Very low fees on large order volumes.
  • Very deep liquidity to prevent price slippage.
  • Supports Bitcoin and Ethereum.
  • Allows access to the widest selection of digital assets for accredited investors in Canada.
  • Dedicated account managers provide top-notch support.
  • Deep security expertise & customized security setups.
  • Quick banking settlement (USD & CAD).

Pricing

  • Trading Fees: Around 1%.

Best For

Crypto investors looking for an OTC service with low fees and VIP treatment on large orders ($25,000 and up).

#2 Kraken

Kraken is a cryptocurrency exchange and bank originally founded in 2011. It’s located in the United States (specifically San Francisco), and it enables you to trade fiat currencies like CAD and USD for cryptocurrencies and vice-versa. It also allows you to trade one type of cryptocurrency for another.

The exchange provides price data for digital assets to the Bloomberg Terminal, and you can create an account through the exchange anywhere in the world except for Cuba, Iran, and North Korea, making it one of the more global exchanges today.

Features

  • Supports 100+ cryptocurrencies
  • Simple and intuitive user interface
  • Kraken Crypto Watch feature that allows you to keep track of the crypto market
  • A plethora of information and educational resources on crypto for its users
  • 24/7 customer support through a variety of methods

Pricing

  • Trading fees: Between 0% and 0.26% per trade
  • Crypto credit card purchases: 3.75% + €0.25
  • ACH crypto purchases: 1.5%

Best For

Cryptocurrency investors looking for an exchange with a wide array of supported altcoins and stablecoins.

#3 Binance

Binance is an international cryptocurrency exchange that currently serves as the world’s largest crypto trading platform by volume of daily trading. It began operations in 2017 and is now headquartered in the Cayman Islands.

Binance was founded in Hong Kong but later moved its headquarters overseas due to increased government intervention in cryptocurrencies. It has several notable characteristics, including powerful charting tools and access to the Binance Earn feature, as well as a Binance Visa Card.

Features

  • Supports 300+ cryptocurrencies.
  • Supports 50+ fiat currencies.
  • Binance Earn feature.
  • Binance Visa Card.
  • Advanced charting tools
  • Earn lower fees by using the exchange’s native currency (Binance Coin).

Pricing

  • Crypto deposit fees: Free.
  • Fiat deposit fees: From 0% to 3.5%.
  • Crypto withdrawal fees: From 0% to 2,5%.
  • Taker fees: From 0.04 to 0.1%.
  • Maker fees: From 0.02 to 0.1%.
  • Futures trading maker fees: 0.02%.
  • Futures trading taker fees: 0.04%.
  • Instant buy/sell trade fees: 0.5%.
  • Debit/credit card purchases: 4.5%.

Best For

Crypto investors who are interested in investing in relatively unknown altcoins.

#4 CoinJar

Founded in 2013, CoinJar began as an Australia-only exchange but has since expanded to include worldwide support. Additionally, it supports 40 of the largest cryptocurrencies, and offers access to the CoinJar Bundles; baskets of diversified crypto that add diversity to your portfolio.

CoinJar is a very unusual exchange in that it offers a card, the CoinJar Card. You can use it to withdraw money from ATMs and make purchases in-store and online, and earn CoinJar Points for every purchase, similar to a cashback system.

CoinJar uses 2FA authentication and data encryption to protect your assets, and new users will receive a welcome bonus of 500 CoinJar Points, which you can use to waive the conversion fees when you’re exchanging between cryptocurrencies.

Features

  • Very secure platform.
  • CoinJar Bundles feature that allows you to invest in a diversified basket of cryptocurrencies.
  • CoinJar Card.
  • Withdraw money from ATMs.
  • Make purchases in-store and online.
  • Over-the-counter crypto trades.
  • Supports 40+ cryptocurrencies.

Pricing

  • Deposit Fees: Free.
  • BlueShyft Cash Deposits: 1.5%.
  • Instant Buys (Visa and Mastercard): 2%.
  • Fiat-to-Crypto Conversion Fee: 1%.
  • Bank Wire Withdrawal: 0.5%.

Best For

Investors looking for a secure crypto exchange that offers a physical card that supports online purchases and has a strong reward points system.

#5 Coinbase

coinbase canada review

Coinbase is an American cryptocurrency exchange that was originally founded in 2012. It’s based in San Francisco and it’s one of the oldest cryptocurrency exchanges in the world. It’s also the second-largest crypto exchange in the world, the first being Binance.

It was designed to be one of the easiest places to buy, sell, and trade cryptocurrency, and it serves retail investors, businesses, and institutions alike. Originally, it only supported Bitcoin, but it now supports a wider array of digital assets.

Features

  • Supports 100+ cryptocurrencies.
  • Coinbase Pro, the platform’s premium service.
  • Coinbase Earn, a bundle of learning resources and tools ideal for beginners.
  • Coinbase Wallet app that allows you to store your cryptocurrencies safely.
  • 98% cold storage policy to keep your funds secure.
  • Insurance for hacked funds.

Pricing

  • Bank account fee: 1.49%
  • Debit or credit card fee: 3.99%
  • Coinbase USD Wallet fee: 1.49%
  • Credit transaction fee: 2%
  • ACH transfer fee: Free
  • Bid-ask spread: 0.5% (Can vary)

Best For

Crypto investors looking for learning resources on crypto and a wide array of supported cryptocurrencies.

What Is Crypto OTC Service?

Cryptocurrency OTC (over-the-counter) trading consists of private crypto purchase and sale transactions. They are private mainly because they lack a public order book and because these transactions aren’t made in regular crypto exchanges, which increases privacy for both parties involved. One additional benefit of crypto OTC trading is that it has a very low impact on markets.

Cryptocurrency OTC has been designed to cater to specific cryptocurrency traders that are interested in either buying on selling very large amounts of cryptocurrency: if these users were to do a large crypto transaction on a regular crypto exchange, their transaction would be affected by slippage, which is when you have to pay a progressively higher price the more crypto you buy because your order is so large that it removes liquidity from the market.

Benefits Of Crypto OTC Services

There are a few major benefits of using a Crypto OTC Service: 

  • Increases privacy: Using crypto OTC platforms increase privacy between buyers and sellers because there isn’t a public order book. Because of this lack of an order book, users can conduct large crypto trades anonymously.
  • Prevents price slippage: Because crypto OTC platforms only cater to a select number of investors, large crypto transactions don’t affect the platform’s liquidity as much. This means that crypto investors using these platforms won’t have to worry much about price slippage eating away at their returns.
  • Better customer support: Considering crypto OTC services have a smaller userbase, these platforms can allow themselves to increase the quality of their customer support. In fact, they might even offer personalized customer support that will vary depending on the user, which is something that regular exchanges can only dream of doing.
  • Robust security: You can also expect a solid set of security features from crypto OTC services, as is industry-standard in regular crypto exchanges. Some crypto OTC services might even offer higher security to regular crypto exchanges, mainly because the higher volumes of crypto that are being traded on these platforms need solid protection against hacking and/or theft.

In Summary

Crypto OTC (over-the-counter) trades are private crypto purchase and sale transactions that lack a public order book and aren’t made in regular crypto exchanges. This comes with some benefits, such as an increase in privacy for both crypto buyers and sellers, and it also has a very low impact on cryptocurrency markets, meaning that you can worry less about the dreaded price slippage that would happen if you were to place large crypto orders on a regular exchange.

If you’re looking for a platform that will allow you to trade between $25,000 and $10+ million in Bitcoin (BTC) over the counter, you should be using Satstreet, a white-glove trading experience for high-volume investors. They take a highly personalized approach to crypto investing, focusing their efforts on offering excellent service to a small number of big accounts: with dedicated account managers available whenever you need them, Satstreet offers a level of customer service no other exchange can match, which is why we recommend opening an account on the platform today.

Best Crypto OTC Service Canada FAQs

How Much Does A Crypto OTC Service Cost?

A Crypto OTC Service costs anywhere between 1% to 5% in fees depending on what crypto OTC platform you use. If you’d like to pay less in fees, we recommend you use Satstreet, as it has the lowest fees of any crypto OTC platform in Canada.

What Is The Cheapest Crypto OTC Service?

The cheapest Crypto OTC Service is Satstreet, considering it has a 1% trading fee and doesn’t charge any other fees for using its plethora of services.

What Is The Best Free Crypto OTC Service?

Currently, there isn’t a free Crypto OTC Service available. However, the one with the lowest fees would have to be Satstreet, mainly because you only have to worry about a 1% trading fee.

Is A Crypto OTC Service Worth It?

Yes, a Crypto OTC Service is worth it because it will allow you to trade very large amounts of cryptocurrency while avoiding price slippage and with considerably low fees. For this purpose, we recommend that you use Satstreet, as it’s the crypto OTC service with the lowest fees in Canada.

Are Crypto OTC Services Safe?

Yes, a Crypto OTC Service is safe because they have standard security measures to protect your funds, just like regular crypto exchanges. Some of these features include 2-factor authentication (2FA), cold storage, and regular security audits to test and strengthen security measures already present on the platform.

Are Crypto OTC Services Legit? 

Yes, a Crypto OTC Service is legit because it doesn’t differ much from crypto trading in regular cryptocurrency exchanges. Crypto OTC platforms also take security just as seriously as regular exchanges do.

The Best Crypto Exchanges In Canada

Best Overall

Trading fees: 0.1%
Security: 99% cold storage
Signup bonus: $50

Serving over 400,000 Canadians

★★★★★

Rated 4.9/5

$50 Signup Bonus

Trading fees: 0.2%
Security: 95% cold storage
Signup bonus: $50

Trusted by 200,000+ Canadians.

★★★★★

Rated 4.8/5

Best For Altcoins

Spreads: ~0.5%
Security: 95% cold storage
Signup bonus: $30

Low spreads, great platform.

★★★★

Rated 4.5/5