Uphold - Digital Asset Platform
- Buy, sell and trade 273 cryptos.
- Trade directly across crypto and traditional currencies.
- Instant deposits and withdrawals.
Uphold - Digital Asset Platform
But if you’ve got a big bank balance and fancy yourself as something of a crypto “whale,” it’s important to be aware that the traditional method of buying digital currency through an exchange may not offer the best value for your money.
Disclaimer: This page is not financial advice or an endorsement of digital assets, providers or services. Digital assets are volatile and risky, and past performance is no guarantee of future results. Potential regulations or policies can affect their availability and services provided. Talk with a financial professional before making a decision. Finder or the author may own cryptocurrency discussed on this page.
Before going any further, it’s important to consider what actually constitutes a large amount of bitcoin. Of course, the definition of “large” will be different for everyone. A sizable trade for you will vary depending on factors like your income, net wealth, experience with digital currency and overall level of risk tolerance.
However, for the purposes of this guide, we’re talking about individual trades worth anywhere north of $10,000 and potentially into hundreds of thousands or even millions of dollars.
The two main options when buying a lot of bitcoin are to either purchase through a traditional cryptocurrency exchange or to use an over-the-counter (OTC) exchange. Each type of platform has its pros and cons, so let’s take a closer look at which one might be right for you.
Traditional exchanges offer a simple and straightforward way for their customers to buy bitcoin and other crypto coins. These centralized platforms allow buyers and sellers to trade cryptocurrencies based on current market prices, with the exchange acting as an intermediary between the two parties. Examples of such exchanges include Coinbase.
You register for an account, deposit fiat or cryptocurrency to your trading balance, and then place an order to buy your desired number of coins. All buy and sell offers are listed in a publicly available order book.
Which traditional cryptocurrency exchanges are well set up to support large trading amounts? Check out the brief reviews below for more details on the transaction and withdrawal limits that apply on a selection of popular exchanges, as well as the steps you’ll need to complete to access those limits. All figures quoted are accurate at the time of this writing (4/27/18).
Coinbase
Coinbase is one of the best-known exchanges operating out of America, having dealt in cryptocurrencies since 2011. It has now expanded its offerings to include OTC trading, which makes it an ideal candidate for buying large amounts of BTC. Coinbase accepts a wide range of fiat currencies and calculates unique purchase limits for each user, which you can increase by submitting photo ID.
Kraken
Founded in 2011, Kraken is a digital currency exchange designed to suit serious traders. Its deposit and withdrawal limits vary depending on the level of verification you achieve. It supports a range of fiat currencies like US dollars (USD), Canadian dollars (CAD), euros (EUR) and Japanese yen (JPY).
Account tier | Daily limits | Monthly limits | Requirements |
---|---|---|---|
Tier 0 | N/A (deposits and withdrawals not available) | N/A (deposits and withdrawals not available) | Account signup |
Tier 1 |
|
|
|
Tier 2 |
|
|
|
Tier 3 |
|
|
|
Tier 4 |
|
|
|
Huobi
Huobi is a crypto-to-crypto exchange platform that allows its users to trade more than 190 currency pairs. It imposes limits on the maximum amount you can buy and sell per transaction, and those limits vary depending on the currency pair you choose. For example, the following limits apply if trading ETH/BTC:
There’s also a currency-specific limit on the maximum amount you can withdraw on your account per transaction. If your account is verified, you can withdraw a maximum of 200 BTC, 2,000 ETH or 5,000 LTC.
OTC trading refers to any cryptocurrency trading that takes place away from conventional crypto exchanges. While trades can be arranged peer-to-peer using online chat rooms like bitcoin-otc, recent years have seen the emergence of an increasing number of OTC brokers. These brokers specialize in helping large-volume traders buy and sell substantial amounts of cryptocurrency and in avoiding slippage.
There’s been a recent upsurge in the number of OTC cryptocurrency brokers in recent times, but you’ll need to make sure you’ll be able to exceed their minimum transaction limits before you sign up. Let’s take a look at the limits of a few popular OTC services below.
itBit
Launched in 2013 and based in New York, itBit has access to a network of clients in more than 100 countries. Its OTC trading desk specializes in handling crypto purchases of 25 BTC or more.
Cumberland Mining
A subsidiary of principal trading firm DRW, Cumberland is an OTC trader and liquidity provider that primarily trades bitcoin, Ether, Zcash, Bitcoin Cash, Ethereum Classic and Monero, but also trades other digital currencies. Markets can be priced in USD or BTC, and the minimum trade size is $100,000.
Genesis Global Trading
Based in New York, Genesis Global Trading offers OTC digital currency trading for institutional buyers and sellers. A minimum limit of $75,000 per transaction applies.
There’s no “one size fits all” answer to this question, so consider your unique trading needs before choosing a platform to buy a large amount of bitcoin. Ask yourself the following questions:
By thoroughly researching any exchange or broker you’re considering using, including taking a closer look at the fees or commissions charged, you’ll be well-positioned to decide on the best way to purchase a large amount of BTC or another cryptocurrency.
At the time of this writing, the author holds IOTA and XLM.
Whether products shown are available to you is subject to individual provider sole approval and discretion in accordance with the eligibility criteria and T&Cs on the provider website.
Are you visiting from outside the US?
Bitcoin tokens are set to become one of the biggest cryptocurrency trends of 2024 – here’s how to get started investing in them.
Financial literacy is important, and you can set yourself up for success when buying Bitcoin, even as a beginner. Here are 4 things to make sure you don’t overlook when buying Bitcoin as a beginner.
Venmo offers a quick and easy way to buy Bitcoin (BTC) and other major cryptocurrencies.
Learn about what cryptocurrency regulation looks like around the world in 2023.
Is Bitcoin mining still a profitable venture? In this article we explain the basics, outline the steps involved and discuss the costs to consider.
Here are a 12 legitimate ways to earn free Bitcoin. See which methods interest you, find out how to get started and grow your digital wallet.
Want to buy bitcoin or any other cryptocurrency with PayPal but don’t know how? Find all the information you need in this handy guide.
Buying Bitcoin and other cryptos with a credit card can be done, but it’s generally not a good idea.
A round-up of the most common crypto scams and how to detect and avoid them.
Learn how to buy Bitcoin in the US with our simple step-by-step guide and tips on what to know before you get started.