Buying and trading cryptocurrency is still a great way to make a profit. When that huge BTC price increase took place in December 2017, some people made millions of dollars. These were mainly the people who were willing to go all-in and invest in this Bitcoin heavily, which paid off when the price went up. That’s one of the reasons why some people with a generous bank account are looking for a way to buy huge amounts of cryptocurrencies.
However, they often stumble upon various limits. The first one is that many exchanges have a limited offer of cryptocurrencies you can trade. They usually offer just a couple of cryptos, and that’s something many investors don’t like as they often see opportunities to profit by buying less popular coins.
The other issue that almost every online crypto exchange presents is the limit. New users have limited trading, meaning there’s an upper cap to how much they can buy or sell. If you like to go big or go home, these limits can become an issue, so that’s something you should also pay attention to.
In fact, that’s actually the reason why we decided to help you out and discuss the concept of trading without limits. In this guide, we’ll talk about high-limit trades, OTC trading, and more. Finally, we’ll list some of the best crypto exchange platforms that will let you buy a large amount of crypto. Read on!
Should You Buy a Large Amount of Crypto?
First of all, we need to determine what does it mean to trade a “large amount of crypto.” How much is that? Although this might vary depending on your point of view and the size of your bank account, we’ve come to an agreement that everything that’s more than $10,000 should be considered a large trade. Therefore, most of the people who want to exchange large amount of crypto are probably willing to invest more than ten grand in this activity.
Now you’re probably wondering why should you buy so many cryptocurrencies at all? The answer to this question is pretty simple and straightforward — to make a profit.
Cryptocurrency traders are pretty much like forex traders. They watch for price fluctuations in the market to seize an opportunity and buy currencies when they drop. Once their value starts going up, traders usually wait for it to hit the ceiling and then sell it to make a profit. The same thing goes for cryptocurrency, but there’s one substantial difference between forex and crypto trading — cryptocurrencies are much more volatile.
For example, let’s say you buy a cryptocurrency that’s worth $100 on a crypto exchange. After a couple of days, you notice that the price of the crypto started increasing, so you start waiting until it’s doubled and then sell it. After you do that, will earn $200. This is the essence of how making a profit works when trading cryptocurrencies, but some people aren’t really interested in earning $100. In fact, they want to earn big time and are eager to invest a lot of money.
In other words, investing $10,000 and earning $20,000 is a much better idea than investing $100 and earning $200. Of course, these are not exact numbers, but we hope you’ve got the point. Moreover, cryptocurrencies can sometimes fluctuate so much that you can even achieve a much higher ROI than 100%. Therefore, if your budget can support this type of activity, you can make a huge profit. However, to do that, you must understand and master the art of crypto trading.
How to Exchange Large Amount of Crypto?
Crypto traders are currently presented with two popular options to buy cryptocurrencies on the web. One of them is using a cryptocurrency trading platform. The other one is using the services of an OTC broker.
Traditional crypto trading sites are pretty straightforward and usually aimed for those who are looking to invest smaller amounts of money. Some of such platforms have strict verification processes and require users to provide a source of income. In some cases, they are careful enough to set relatively low maximum trading limits. These exchanges are usually centralized and work as middlemen between two parties willing to trade.
These exchanges are usually easy to use and you can buy cryptocurrencies using your fiat money. After placing an order, just sit and wait for someone to match it.
The other option is using OTC brokers. Let’s see how OTC trading works.
What Is OTC Trading?
OTC stands for over-the-counter and crypto OTC brokers are either online services or individuals who offer to do the trades for you. Their job is similar to traditional brokers, except that they help you trade cryptocurrency.
OTC trading is a bit different from using a crypto exchange. For example, if you want to conduct a Bitcoin OTC trade, you need to contact brokers who specialize in this type of trade and ask for their help.
This type of trading can offer you a better value for the money you’re willing to invest, as the level of liquidity is somewhat higher compared to traditional cryptocurrency exchange platforms. Moreover, the trading works faster as brokers ensure that your trade requests are executed as soon as possible. Most importantly, OTC trading is often aimed at higher limits.
This type of trading also comes with a couple of downsides. First of all, it’s not as transparent as some exchanges, so you have to aim for a really reputable OTC broker. Moreover, cryptocurrency markets are not regulated, so using this type of crypto trading comes with a certain risk. Finally, many brokers have a huge minimum trade limit, meaning they don’t want to work with you unless you’re willing to trade at least $50,000 (some set this limit at $100,00). Although this article is directed to traders who’re looking to invest a lot of money, this can still be too much for some.
The Best Crypto Exchange Without Limits
Now that you understand the difference between crypto exchanges and OTC brokers, let’s check out some of the most popular platforms for high-rolling crypto traders. What you’ll see below is a mix of both OTC trading services and crypto exchanges without limits.
Genesis is a US-based OTC broker that currently works with several cryptocurrencies, including BTC, BCH, ETH, LTC, XRP, and ETC. The broker has been around since 2013 and has traded more than $600 million worth of BTC. Moreover, this platform is licensed and regulated by the SEC and FINRA.
- This platform is regulated
- Operating successfully since 2013
- Trusted by many traders
- Minimum trade amount is $75,000
- Accepts only a couple of popular cryptocurrencies
Coinjar is a great OTC trading platform that currently works with Bitcoin and Ethereum. It also added XRP, ZEC, and LTC to its list of available trades. This platform mainly works with Australian dollars as it is located in Australia and aimed at Australian traders.
- 24/7 customer support
- A lot of payment method
- Same day trading + same day quote
- Mainly focused on the Australian market
- Limited number of available cryptocurrencies
Coinbase is the most popular cryptocurrency trading option for US residents. If you’re looking to buy Bitcoin and you live in the States, this is perhaps the best possible option for you as it is regulated. On the other hand, Coinbase has a very limited offer of cryptos and the upper trading limit is $25,000 per day, but only if you’re a fully verified member.
- One of the most popular options for US residents
- Licensed and regulated
- A high daily limit for verified users
- Not enough cryptocurrencies offered
- 1% fee — an expensive online trading platform
- Upper trading limit of $25,000 isn’t available for all
Godex.io is one of the newer online cryptocurrency trading sites, and what makes it stand out from the crowd is the fact that you can trade without limits. Moreover, there are more than 200 cryptocurrencies available on this platform.
- 200+ cryptocurrencies available for trading
- No trading limits
- Trading can be conducted anonymously
- Relatively new to the industry
Cumberland is an OTC broker service that supports 30+ cryptocurrencies, as well as all the popular fiat currencies. The company offers 24/7 support and has offices in Chicago, Singapore, and London. The only downside to this platform is that the minimum trading amount is $100,000.
- More than 30 cryptocurrencies available
- All major fiat currencies available
- Company present all over the globe
- 24/7 customer support
- The minimum trading amount is $100,000
Cryptocurrency trading is still a relatively new activity, despite being around for more than a decade. Investors actually started learning how it all works after the first huge price increase that took place in December 2017/January 2018. Although it’s still uncertain whether such a significant spike would ever take place again, one thing is certain — prices of cryptocurrencies change a lot due to the volatile nature of this market.
That’s why investors use crypto exchanges and OTC brokers to buy cryptos and try to achieve the return on investment. If you want to take a risk and invest more money in digital currencies, you can choose to do that by using an OTC broker or cryptocurrency exchange with no limits. Both options come with certain advantages and disadvantages, so make sure to understand how they work before joining.