How to Buy Large Amounts of Bitcoin in 2024

What’s the Best Way to Buy a Large Amount of Bitcoin?

There are two main ways for you to buy a lot of Bitcoin:

1. Cryptocurrency exchanges with high liquidity and limits

2. Over-the-counter (OTC) brokers

Naturally, there are other options, but these two types of platforms are generally considered the best, which is why we advise you to stick to them.

What Is the Difference Between OTC Brokers and Exchanges?

The main difference between the OTC brokers and crypto exchanges is simple but completely changes how you do business on these platforms.

On traditional crypto exchanges, you’re trading directly with individuals on the platform, while on a typical OTC broker platform, the site is connecting you to people or companies willing to trade.

Crypto Exchanges

If you’ve already bought Bitcoin or any of the altcoins in the past, you have likely already used a cryptocurrency exchange as they are practically the default place for purchasing cryptocurrency for most people.

The central aspect of cryptocurrency exchanges is that they facilitate trades, meaning you will effectively trade with other individuals and companies. You can place a market or limit order up to the maximum size allowed by the platform. However, placing a large order on a spot exchange could affect the price of BTC, and you may need to wait a bit for the whole of your order to be filled.

Some crypto exchanges also provide an OTC desk to facilitate large trades off the order book so they won’t impact on the asset’s price.

OTC Brokerages

OTC broker platforms are mainly made for trading larger amounts as they connect you with other parties willing to do the same and ensure the whole transaction goes according to plan. However, this luxury comes at a price. Most OTC brokers charge premiums for the services they provide, effectively making every trade more expensive than on a typical cryptocurrency exchange.

This also means that the price of Bitcoin doesn’t necessarily have to be the market price — it can be anything you and the other party agree on.

What Are the Best Places to Buy Large Amounts of Bitcoin in 2024?

Now that you know most of what you need to know about buying larger amounts of Bitcoin, let’s take a closer look at the platforms you should be using.

eToro – Top Broker With High Deposit Limits

Fees: 1% per crypto trade

Deposit and withdrawal limits: Up to $40,000 per transaction for debit cards, up to $10,000 for PayPal and online banking, up to $1 million for wire transfer.

eToro is a popular platform for the range of traditional and crypto assets it offers, as well as its unique features such as smart portfolios and copy trading. In addition to the high deposit limits, users can withdraw up to $200,000 of crypto to the eToro Money wallet each day.

Coinbase — Popular Exchange With an OTC Desk For Prime Users

Fees: Up to 0.6% on Advanced Trade

Deposit and withdrawal limits: Varies based on region and payment method

Coinbase is one of the most popular exchanges you can use today. It offers incredibly high security, supports numerous payment methods (you can use a credit card, debit card, bank transfer, PayPal, and other methods to deposit funds), and the liquidity is quite high, so you won’t have to worry about not finding large enough offers.

There is no maximum trade size when placing post-only limit orders. Also, institutions can use Coinbase Prime, which is designed for trading and custodying large quantities of crypto.

• How to buy Bitcoin with zero fees

Kraken – Crypto Exchange with an OTC Desk

Fees: Up to 0.26% on Kraken Pro, personalized quote for OTC desk

Deposit and withdrawal limits: $10 million+ daily limit for Pro users

Kraken has a range of powerful trading tools on the Kraken Pro platform, as well as other useful features such as staking and margin trading. The OTC Desk is designed to provide private and personalized services for institutions and high net worth individuals, with single quotes for orders up to $1 million and beyond. In addtion, when it comes to comparing cryptocurrency exchanges, the debate often boils down to Kraken vs Gemini, each with their unique features and security measures, offering a range of options for crypto enthusiasts.

Binance – Advanced Exchange with OTC Block Trading

Fees: Up to 0.1% per trade, lower fees for higher volume. No fees for OTC trading

Deposit and withdrawal limits: Varies by currency and payment method

The main Binance spot trading platform will meet the needs of most users with its customizable charts, indicators, and trade sizes from 10 USDT to over 150 BTC. Binance also offers OTC Block trading to avoid slippage on larger trades. OTC trades must be at least $200,000, and there is no maximum trade size.

Bitstamp — The First Crypto Exchange

Fees: 0.50% per trade, lower fees for higher volume

Deposit and withdrawal limits: $2,500 per day and $20,000 per month, can vary based on region

Bitstamp is the OG crypto exchange, being founded way back in 2011. The platform is now well-established and popular throughout the world. You can easily make deposits with a debit card or credit card, as well as with a bank account.

The only real downsides to this platform are the lack of margin trading and relatively high fees.

What Is Considered a Large Amount of Bitcoin?

It’s tough to answer this question as it will depend on many factors. The price of BTC is one of those factors. For example, when BTC was valued only at $100, it was hard to claim that 10 Bitcoins was a large amount. But when the price is well above $50,000, that same amount is considered substantial for most people.

Additionally, the price has always been very volatile, so defining a considerable amount in the future might be different.

What’s more, the answer to this question is different for different people. The answer will easily depend on your wealth, location, background, and more. Regular people and seasoned investors will easily have different definitions for what a large amount of BTC is.

In general, many would agree that a large amount of BTC is valued at $10,000 or more. This stands regardless of how much each BTC is worth at the moment. Some would go further by saying that a significant amount is anything above $100,000.

However, it’s much better to use percentages in this case, i.e., what percentage of your total investment capital should belong to Bitcoin. It’s usually advised that BTC comprises up to 5% to 20% of your entire investment capital. In other words, 5% would be pretty safe, while 20% is risky.

Naturally, these numbers can go up and down depending on how experienced and ready you are to accept risk and potentially lose money.

All in all, you don’t need to have a specific number in mind to determine what a large amount of Bitcoin is. Instead, it would be best to consider how much you are willing to invest and how long you intend to keep investing.

Is There a Limit to How Much Bitcoin I Can Buy?

There is no limit to how many BTC you can purchase, both legally and technically. The amount you can buy entirely depends on how much you can and are willing to invest.

However, you should know that the maximum amount you can buy in a single transaction or a specific period usually depends on where you are buying BTC.

Bitcoin exchanges, brokers, and other platforms tend to place limits on users depending on a wide range of factors, including what type of account you have on the platform. However, most large exchanges won’t place a trading limit, but they will set a limit to how much you can deposit and withdraw in a day or a month.

Before you decide which platform to start using for investments, make sure to check the limits.

Naturally, if you decide to make deals with other investors and buy Bitcoin directly from them, as long as you both agree, you can do it without a set limit. The limits only exist on specific platforms that mediate trading.

Of course, the theoretical limit coincides with the final amount of BTC in the world — 21 million coins. This is the total amount of Bitcoin that will be mined, and once we reach that number, no additional Bitcoins can be created. Every 10 minutes or so, a new BTC comes onto the scene. The current estimates say that we’ll mine the final BTC in 2140.

What to Consider When Buying Large Amounts of Bitcoin?

It would be best to consider several things when buying Bitcoin, and there is even more to consider when purchasing large amounts. Let’s take a look:

A Highly Secure Hardware Wallet is a Must: You should always use a secure Bitcoin wallet in the world of cryptocurrency. However, once you start trading higher amounts, you should invest in a secure hardware wallet to keep offline so it’s safe from hackers. The best ones on the market are Ledger Nano X and Trezor T.

Be Aware of Slippage: With higher amounts of Bitcoin, it’s not uncommon for the price to change before all the coins have been bought. This can often result in the amount you get being lower than expected. By using an OTC desk, however, you can generally get a quote for the full order in advance and avoid slippage.

Fees and Limits: Fees and limits are incredibly important when purchasing larger amounts of Bitcoin, so you always need to check them in advance. For fees, you can run into trading fees, deposit/withdrawal fees, and even blockchain fees. Be wary of the payment method you use to deposit funds to buy large amounts of Bitcoin. Some deposit methods such as credit cards will come with higher fees and risks as opposed to a debit card or a bank transfer. As for limits, you need to check that they are high enough so you can easily trade higher amounts.

Pros & Cons of Buying Large Amounts of Bitcoin

Should I Buy Bitcoin with Another Cryptocurrency or Fiat Currency?

The answer to this question depends on what you prefer and what would be better for you at any given moment.

People generally purchase Bitcoin with fiat currency as that’s the currency most people have. It’s also better as price fluctuations are not as common with fiat currency as with other cryptos.

However, if you own another cryptocurrency and it’s currently worthwhile to exchange it for Bitcoin, you should do that instead.

Alternative Ways to Buy Bitcoin

Besides the Bitcoin exchanges and Bitcoin broker platforms you can use, there is always an alternative if these do not suit your needs. You can buy and sell Bitcoin using these options:

• Directly from someone with cash

• On DeFi platforms (as WBTC)

• Using Bitcoin apps

• By getting paid at your job in cryptocurrency

• Through airdrops and promotions

Final Thoughts on Buying Large Amounts of Bitcoin

You can buy large amounts of Bitcoins on a wide range of exchanges and OTC broker platforms. You are only limited by how much you are willing to invest and what’s enough for you, but as you’ve seen, buying large amounts of BTC is not something you should take lightly.

Make sure you are ready to do so, and start with smaller investments if you are not an experienced investor. Once you are prepared, you can choose one or more of the platforms below and get started in no time.

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