If you are a serious crypto investor about to put a large chunk of money into Bitcoin, you are probably wondering about the safest way to buy. Maybe your crypto has made you big profits and you want to sell a large amount. Either way, you want the cheapest and safest route, so you do not lose money to fees or slippage.
This is where Over-The-Counter (OTC) trading comes in. It is meant for large trades, and it is offered by some exchanges and by dedicated OTC brokers who quote you a fixed price and settle the trade off the public order book.
Several OTC desks serve Canadians. I checked each desk's own pages for this update, and several minimums have changed since the last edition, so the numbers below replace the old ones.
To buy or cash out a large amount of crypto in Canada, skip the public order book and use an OTC desk or a high-limit wire: you get a fixed quote, avoid slippage and settle in CAD by wire. The best OTC crypto desk in Canada for most Bitcoin buyers is Bull Bitcoin Prime, which quotes a live price, settles by same-day wire and sends Bitcoin straight to your own wallet. For trades of $50,000 and up across more coins, look at Satstreet or NDAX's OTC desk, which starts at CAD 25,000. Minimums run from roughly $10,000 to $50,000 depending on the desk, so confirm the current figure before you book a call.
Two desks I no longer list as picks. Newton's OTC desk used to appear here with a $30,000 minimum, but Newton's current pages say nothing about an OTC desk, and its separate Newton OTC Inc. FINTRAC registration ceased on Jul 30, 2026. Ask Newton directly before counting on it. Bitbuy's OTC desk (Bitbuy Alpha) still lists a $50k minimum for BTC and ETH and $20k for other coins, but Bitbuy's owner WonderFi was acquired by Robinhood on Jun 1, 2026, so I do not recommend opening new accounts there.
Best for: large Bitcoin buys and sells with phone support
MinimumAimed at clients transacting more than $25,000 (the old $10,000 figure is no longer on its page)
AssetsBitcoin only
SettlementSame-day wire transfers, per Bull Bitcoin's Prime page
CostNo processing fee, the cost is the spread, about 2% each side in the Oct 1, 2026 quote, with discounts for Prime users over $100,000 in volume
StatusFINTRAC MSB (Satoshi Portal Inc.); not on the CSA list
Our take
Bull Bitcoin Prime is a popular place to trade large amounts of Bitcoin, and it is what I use.
What is great is that you do not have to talk to anyone to find out the price of Bitcoin when buying. The price is shown live on the website and in the app. If you feel you need personalized one-on-one service, Prime offers that too, with phone support and a direct line to management.
If you are planning to spend $1,000,000 on Bitcoin, you can buy it all at once or spread out your purchases over time to possibly get a better price. Bull Bitcoin can buy for you automatically on a schedule you set. Selling a lot of Bitcoin works the same way.
Bull Bitcoin does not charge extra fees directly. It makes its money the way a currency exchange does, by selling Bitcoin for a bit more than it buys it, and its page promises no slippage or extra fees. Its terms require full identity verification before you use the service, and it is non-custodial, so Bitcoin goes to your own wallet.
Pros
Unlimited transaction volume on Prime
Same-day wires
No slippage or extra fees, per its page
Phone support
Cons
Bitcoin only
About a 2% spread each side before volume discounts
2. Bitcoin Well Infinite: Lowest Minimum Among The Desks
6.4/10
Best for: Bitcoin buyers who want an advisor and a lower starting point
Minimum$10,000 for dollar-cost averaging; the service targets clients transacting $50,000+ per year
AssetsBitcoin only
PricingSpread varies with order size; no onboarding fees or withdrawal fees
SettlementNon-custodial by default, sent directly to your own wallet
StatusFINTRAC MSB M19811620 and FinCEN registered, per its page
Our take
Bitcoin Well runs its large-trade service under the name Infinite. You get an Executive Bitcoin Advisor who walks you through setup and settlement, a clear quote before any transaction and delivery to your own wallet, whichever wallet you use. After an introductory call, onboarding takes a day or two according to the company, depending on your jurisdiction and transaction requirements.
The retail 1.5% and 2.0% rates on its portal do not apply to OTC, and the OTC spread is not published, so ask for a quote and compare it with Bull Bitcoin's.
Best for: investors who want many coins and a regulated Canadian dealer
MinimumStarting from CAD 25,000 (the old $200,000 figure is no longer on NDAX's page)
Assets65+ cryptocurrencies, including BTC, ETH, SOL, ADA, XRP and DOT, per its OTC page
FundingInterac e-Transfer, EFT, wire transfer and cryptocurrency
StatusCIRO investment dealer and CSA-recognized platform
FeesNot disclosed on the OTC page; ask for a quote
Our take
NDAX is a trusted Canadian crypto exchange, and its retail platform charges a flat 0.20% on every buy and sell. For a large trade through its OTC desk, you book a consultation with an account manager, who explains the process and finds you a price. NDAX describes the desk as personalized and secure trading with access to deep liquidity.
You can trade Bitcoin and many altcoins, and you agree on a quote before the trade runs. NDAX's page does not publish a fee schedule for OTC, so get the all-in number in writing and compare it with the 0.20% you would pay on the exchange itself, because for some sizes the order book may still be the cheaper route.
4. Satstreet: Best For Very Large Trades And Custody Choices
Best for: $50,000 and up, with a choice of custody
Minimum$50k to $100M+ per its homepage (the old $25,000 minimum is gone)
AssetsMultiple coins and stablecoins such as USDT
CustodyInstitutional custody, self-custody or native multi-sig
StatusFINTRAC MSB M20453804, Toronto; registration expires May 9, 2027
ExtrasTrade reporting for tax and accounting, portfolio tracking app
Our take
Satstreet is a dedicated OTC service that I have used for the past 2 years. The level of expertise, speed of work and service have been outstanding. It does not run a regular crypto exchange. It offers deep liquidity for people making large trades, and I find that the major advantage of Satstreet as an OTC crypto broker.
Once you are onboarded, you get a dedicated account manager to help you find the best price for your trade. You can trade a wide range of cryptocurrencies, and big amounts of stablecoins too, such as USDT. It offers self-custody of assets so you never have to hand over your crypto, or institutional custody if you would like Satstreet to hold it, and it can help with a multi-signature setup.
Satstreet makes money on the spread between the buy and sell price, and you receive exactly what you agreed to. Its site lists trade reporting for tax and accounting. I removed my old statement that it has no downsides: the minimum has doubled, and its homepage does not state a CSA registration, only the FINTRAC listing I found in the public registry.
These are headline fees or spreads for standard retail trading, before slippage. A very large order on a public order book can cost more than the fee suggests, which is the reason OTC desks exist. OTC desks do not publish their spread, so ask each for an all-in quote on your size.
The Bull Bitcoin figure is derived from its live quote on Oct 1, 2026, not a published rate, and Prime users over $100,000 in volume get discounted rates. The Bitcoin Well rate is for its portal and does not apply to OTC.
How Do You Cash Out Large Amounts Of Crypto In Canada?
Sell through a desk or exchange that settles by wire, not by Interac e-Transfer. e-Transfer limits are small: Kraken and Bull Bitcoin cap e-Transfer withdrawals at CAD 10,000 per transaction, and NDAX caps them at CAD 10,000 too. Wires are where the big numbers live. Expect KYC and a source-of-funds question on any large trade, and keep your records, because CRA treats a sale as either a capital gain or business income depending on the circumstances.
Large CAD Transfer Limits At Registered Platforms
Platform
Wire Or EFT
e-Transfer Withdrawal
NDAX
EFT CAD 4.99 fee, no minimum or maximum
CAD 1.50 fee, CAD 10,000 per transaction
Bull Bitcoin
Wire, no fee, no maximum stated
No fee, CAD 10 to CAD 10,000
Newton
Wire up to CAD 1,000,000
CAD 10,000 per transaction, CAD 50,000 weekly
Kraken
Domestic EFT exists, limits not retrieved
CAD 10 fee, CAD 10,000 per transaction
Limits change, so confirm them on the platform before you plan a large sale. If you are moving six figures or more, call the desk first.
What Is An OTC Crypto Desk?
An OTC desk is a service for individuals or institutions to make large crypto trades at a fixed price, agreed before the trade runs.
What Are The Benefits Of OTC Crypto Brokers In Canada?
The benefits of using an OTC desk rather than placing the order yourself include:
A fixed price you agree to before you trade
Personalized service from an account manager
Less price impact on the market
A business you can name if your bank asks about the transfer
On an exchange, most platforms charge trading fees or run wide spreads. A desk finds a buyer or seller for your trade, so the deal is one-to-one, and an off-market trade will not move the public price. You normally get a quote, lock it in and the trade executes. The other side could be an individual or an institution.
OTC brokers also give you a person to deal with. Your account manager finds the price, then runs the trade once you agree on the price and the time.
A large transfer to a crypto business may be flagged by your bank, whether it goes to an exchange or a desk. A desk that is registered in Canada and onboards you properly gives you a counterparty you can name when your bank asks, and its paperwork helps you show where the money came from.
How Is OTC Trading Different From Regular Exchange Trading?
If you make a large trade on an exchange, say $20,000 of Bitcoin, you are unlikely to find one person selling that much. Your order eats through several smaller sell orders at rising prices, which causes slippage, meaning you get less crypto than the headline price implied. An OTC desk finds one counterparty for the whole amount and quotes you a price, so you receive exactly what you agreed to.
What Does An OTC Crypto Trade Look Like?
Here is an illustrative example with round numbers. It is not a real quote. After onboarding, your account manager quotes you a price, say $100,000 for 1 BTC. You agree, and they find someone selling 1 BTC for slightly less, say $99,000. On the agreed date you send your $100,000 by bank transfer to the broker. They send 1 BTC to the wallet of your choice and pay the seller $99,000, keeping $1,000 as profit. That $1,000 is the spread.
Alternatively, a broker may give you 1 BTC instantly from its own liquidity and charge a service fee instead of a spread.
How Do OTC Desks Make Money?
In two ways. They can profit from the spread, which is the difference between the price they buy and sell at, or they charge a service fee inside the quoted price. Hidden fees are rare on OTC desks, but ask for the all-in number before you commit.
What Are The Advantages Of Bitcoin OTC Trading?
The main advantage is that you can buy or sell large amounts of Bitcoin in a single transaction. A dedicated account manager finds the counterparty and runs the trade. If you are buying, you send funds by bank transfer. If you are selling, you send the crypto to the wallet the desk gives you. You also receive exactly what was quoted, rather than seeing 0.99 BTC arrive when you expected 1 BTC.
What Are The Disadvantages Of Bitcoin OTC Trading?
Spreads or fees can be higher than on a crypto exchange for small sizes, and you will usually have fewer coins to choose from. Minimums also change, so confirm them before you plan around a desk. Expect a full onboarding with identity checks and, at these sizes, questions about where the money came from.
What Changed For OTC Crypto Desks In October 2026?
: Newton OTC Inc.'s FINTRAC registration ceased. Newton Crypto Ltd. is unaffected.
: Robinhood completed its WonderFi acquisition, which includes Bitbuy and Coinsquare.
: Newton was admitted to CIRO membership as an investment dealer.
: NDAX received its CSA decision and CIRO membership terms as an investment dealer.
Which OTC Desk Fits You?
Bitcoin only, $25,000 or more: Bull Bitcoin Prime.
Smaller start, recurring buys: Bitcoin Well Infinite from $10,000.
Altcoins in a regulated Canadian dealer: NDAX OTC Desk.
Our website uses referral links to some of the platforms mentioned in this article as a means of monetization. Our ratings are not influenced by these referral programs. All write-ups and articles are for information only and are not financial or legal advice. Consult a professional before making financial and legal decisions.
Frequently Asked Questions
What Is An OTC Crypto Desk?
An OTC desk lets individuals and institutions make large crypto trades at a fixed, pre-agreed price, usually with a dedicated account manager, instead of placing the order on a public exchange.
What Is The Minimum For OTC Crypto Trading In Canada?
It depends on the desk. Bitcoin Well Infinite starts at $10,000 for dollar-cost averaging, NDAX's OTC desk starts at CAD 25,000, Bull Bitcoin Prime targets clients moving more than $25,000, and Satstreet lists $50k to $100M+. Confirm the current figure before you book.
Are OTC Desks Cheaper Than Exchanges?
Not always. For a very large order, an OTC desk can beat the slippage you would take on a public order book. For smaller sizes, a retail exchange fee such as NDAX's flat 0.20% can be lower. Ask each desk for an all-in quote on your size.
How Do OTC Desks Make Money?
Mostly through the spread between the price they buy and sell at, or through a service fee built into the quote. Bull Bitcoin, for example, says it does not charge extra fees and earns through the spread.
Are OTC Crypto Brokers Legal In Canada?
Choose a desk that is registered. NDAX is a CIRO investment dealer and CSA-recognized platform, and Bull Bitcoin, Bitcoin Well and Satstreet are listed as FINTRAC money services businesses. FINTRAC registration is an anti-money-laundering registration, not investor protection.
Which OTC Crypto Broker Is Best For Bitcoin In Canada?
Bull Bitcoin Prime is our top pick for Bitcoin: a live price, same-day wire transfers, phone support and delivery to your own wallet. Bitcoin Well Infinite is the alternative if you want a lower starting point.
What Are The Disadvantages Of OTC Crypto Trading?
Spreads can be higher than on an exchange for smaller trades, there are fewer coins, minimums are high, and you must complete full identity and source-of-funds checks before the first trade.
How Do I Cash Out A Large Amount Of Crypto In Canada?
Sell on a registered platform or OTC desk and withdraw by wire or EFT, since Interac e-Transfer withdrawals are capped near CAD 10,000 per transaction at NDAX, Kraken and Bull Bitcoin. Expect identity and source-of-funds checks, and keep records for your tax return.
Author
Oleg Galeev
Cryptocurrency Specialist
Oleg is a Canadian citizen & crypto expert who has been trading since 2016. He started out with Coinbase, Kraken and Peer-to-Peer exchanges. After some time, centralized exchanges started charging crazy fees to their users.
He decided to review different crypto exchanges that operate in Canada and start a Youtube channel in order to educate Canadians on what kinds of things are going inside each one while giving them unbiased advice. On top of that, Oleg also has experience with NFT, airdrops, and crypto staking and he is constantly checking on new crypto assets.
His writing has been featured in popular Canadian media sources such as Toronto Sun and Ottawa Citizen.
Discover Your Perfect Canadian Crypto Exchange!
Answered 0 of 10
Please assign a score to each question. This ensures we understand your priorities and can recommend the best crypto exchange for your needs.
