If you feel limited by our standard trade limit of 1 BTC per order, you may be interested in making trades through our OTC desk. We can accommodate trades through our OTC desk of much higher amounts. We also offer lower processing fees per order through our OTC desk. Contact Client Support Services to get in touch and apply.
Upon approval, you will see a new menu tab in your account labeled "OTC Order". You may work directly with our representatives and use the OTC Order tab to place orders of greater than $100,000.
OTC Order Transaction Fees
|Avg. Fees for orders over $100,000||1%|
|Avg. Fees for orders over $500,000||0.5%|
|Avg. Fees for orders over $1,000,000||0.25%|
|Avg. Fees for orders over $10,000,000||0.15%|
OTC Order Process
The process is detailed as follows:
- Deposit USD or BTC into your account with our Custodian, Prime Trust. Deposits can take time:
- 2-5 days for an ACH deposit, plus a 6-10 day hold before funds are cleared for use.
- 1-48 hours for a wire transfer. Upon receipt, wired funds are immediately cleared and available for use.
- 1-24 hours for a bitcoin deposit. 4 block confirmations required.
- Contact the OTC desk to verify your identity and place an order
- The OTC desk will set up an encrypted chat or video call with you
- Ask for a quote for however much bitcoin you'd like to either buy or sell
- The OTC desk will make you an offer, which includes the trade details, our OTC fee, and the timeframe for the trade.
- You may accept or deny the offer.
- If you are placing a OTC Buy Order, have a bitcoin address prepared, for which you will be receiving bitcoin. You are required to add your bitcoin receiving address within the OTC order page. You may click "Add Bitcoin Wallet" to add a new bitcoin receiving address.
- While on the call with your OTC desk representative, use the OTC Order tab to send the quoted amount of USD or BTC to Cloud Nalu.
- Upon receipt of the correct amount of BTC or USD, Cloud Nalu will execute the trade within our internal system of liquidity and liquidity providers.
- After the trade is executed, your OTC desk representative will manually send the BTC or USD to your bitcoin receiving address, or your USD account with Prime Trust, respectively.
- If the order is not executed, the funds will be transferred back to your custodial account immediately