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OTC Desk for US Merchant

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James2774

Active Member
Jan 26, 2020
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#1
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So my bank says they dont care about wiring money to BTC exchanges, Id still like to find a reliable OTC desk as a backup. Any you recommend? Volume of 10k-100k/month.
Ive emailed a few and not been replied to or they wont speak until I create an account and initiate a trade which seems, well, stupid.
OWNR wallet doesnt reply
Bitrue doesnt reply
Rockitcoin sent me a link to dign up but hte link just points to the phone number I just called.
Alterx posted here but doesnt serve US clients.
Not getting a lot of assurance so far lol.

I have all my papers, ID, and proof of funds form merchant accounts.
 
#2
Are you a sole proprietor/individual or do you have a company?
How long have you been in business?
Are you simply selling crypto by CC? -Watch for chargebacks lol
You may want to look at a more personal banking relationship with Morgan Stanley or Goldman- but your volumes might not be high enough.
 
Last edited:
#3
USSVS said:
Are you a sole proprietor/individual or do you have a company?
How long have you been in business?
Are you simply selling crypto by CC? -Watch for chargebacks lol
You may want to look at a more personal banking relationship with Morgan Stanley or Goldman- but your volumes might not be high enough.
Click to expand...
LLC.
No I’m not selling crypto, but paying suppliers and affiliates with it.
It’s not the bank that’s the issue, just looking for a reliable OTC trader.
Thank you
 
#4
Gotcha,
Reliability seems to be lacking in that space.
I know Goldman has a crypto desk- they could definitely facilitate large trades, I think MS has one too now.
They are banks and brokers, It is different than retail banking.
They might not be a good fit for what you are looking for, but if you are coming up blank it might be worth a phone call.
Best of luck!
 
#5
James2774 said:
LLC.
No I’m not selling crypto, but paying suppliers and affiliates with it.
It’s not the bank that’s the issue, just looking for a reliable OTC trader.
Thank you
Click to expand...
I use kraken to pay my agency freelancers.

I have mercury which I wire money from to kraken and then from kraken (after buying USDT) to whoever I want to pay.

Not sure if this helps

My volume is similar (60-90k/month)
 
#6
Novice said:
I use kraken to pay my agency freelancers.

I have mercury which I wire money from to kraken and then from kraken (after buying USDT) to whoever I want to pay.

Not sure if this helps

My volume is similar (60-90k/month)
Click to expand...
It could, kraken being another exchange I was loling just fo backups in OTC if an exchange gets fickle is all.
Nexo just asked me for proof of funds(which I sent) but I’m paranoid working in merchant services we all know you sometimes get shut down for no reason or explanation.

I was under the impression Mercury doesn’t allow wires to Btc exchanges?
On a sidenlte do you send the wire fire cr ly to kraken or do you wire it through their 3rd party service? I read that US accounts dont wire direct to them, not that it matters o suppose just knowledge to have thank you

What was the process/turnaround to get the kraken business account?
 
#7
James2774 said:
It could, kraken being another exchange I was loling just fo backups in OTC if an exchange gets fickle is all.
Nexo just asked me for proof of funds(which I sent) but I’m paranoid working in merchant services we all know you sometimes get shut down for no reason or explanation.

I was under the impression Mercury doesn’t allow wires to Btc exchanges?
On a sidenlte do you send the wire fire cr ly to kraken or do you wire it through their 3rd party service? I read that US accounts dont wire direct to them, not that it matters o suppose just knowledge to have thank you

What was the process/turnaround to get the kraken business account?
Click to expand...

Kraken and mercury were few of the friendliest companies and support I've been in touch with.

I talked to mercury support regarding sending wires to cryptocurrency exchanges to pay freelancers, and they were fine.

I've been directly depositing from mercury into kraken on daily basis.

Mercury have free domestic and international wire transfers (these were $5 and $20 respectively few weeks ago). I'm enjoying the experience right now.

I have a US LLC but I'm a foreigner. That might be different but I thought US citizens have faster ways to deposit funds using kraken.

Worthy exchanges to look into:
Ftx.us
Okcoin.com

Don't test with large amounts.
I repeat.
Don't test with large amounts.
 
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#8
Novice said:
Kraken and mercury were few of the friendliest companies and support I've been in touch with.

I talked to mercury support regarding sending wires to cryptocurrency exchanges to pay freelancers, and they were fine.

I've been directly depositing from mercury into kraken on daily basis.

Mercury have free domestic and international wire transfers (these were $5 and $20 respectively few weeks ago). I'm enjoying the experience right now.

I have a US LLC but I'm a foreigner. That might be different but I thought US citizens have faster ways to deposit funds using kraken.

Worthy exchanges to look into:
Ftx.us
Okcoin.com

Don't test with large amounts.
I repeat.
Don't test with large amounts.
Click to expand...
Just took a look and I can fund via online banking which is nice, they do not support prepaid accounts however.
On the other hand coinbase will support online banking from prepaid accounts, but its coinbase lol. Not sure how long thatll last as I feel they are the paypal of crypto.
Thank you, i have plenty of options now and Ill get going.
 
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#9
xmlgold.eu has SEPA and SWIFT EUR and Bank transfer USD (i'm assuming that's USA only ACH I haven't tried it myself) and those need verification for any swapping direction that involves them but they allow both individuals and companies to sign up with them and offer discounts the higher your volume is XmlGold
Disclosure: I haven't tried any of these directions I only tried crypto to crypto and EMI to crypto as they dont require verification for those but they were reliable each time.
Another disclosure: I'm not affiliated with them I just use it regularly because it's reliable and fits my needs.
 
#10
hapiswood said:
xmlgold.eu has SEPA and SWIFT EUR and Bank transfer USD (i'm assuming that's USA only ACH I haven't tried it myself) and those need verification for any swapping direction that involves them but they allow both individuals and companies to sign up with them and offer discounts the higher your volume is XmlGold
Disclosure: I haven't tried any of these directions I only tried crypto to crypto and EMI to crypto as they dont require verification for those but they were reliable each time.
Another disclosure: I'm not affiliated with them I just use it regularly because it's reliable and fits my needs.
Click to expand...
Fist from EMI to crypto doesn’t require kyc? What emi do you use?
 
#12
hapiswood said:
Disclosure: I haven't tried any of these directions I only tried crypto to crypto and EMI to crypto as they dont require verification for those but they were reliable each time.
Click to expand...
James2774 said:
Fist from EMI to crypto doesn’t require kyc? What emi do you use?
Click to expand...
please keep that inside mentor group gold - make more sense to not reveal it on a public forum.
 
#16
What is wrong with kraken after all? There must be many exchanges like changelly that can be used for this simply purpose.
 
#18
James2774 said:
So my bank says they dont care about wiring money to BTC exchanges, Id still like to find a reliable OTC desk as a backup. Any you recommend? Volume of 10k-100k/month.
Ive emailed a few and not been replied to or they wont speak until I create an account and initiate a trade which seems, well, stupid.
OWNR wallet doesnt reply
Bitrue doesnt reply
Rockitcoin sent me a link to dign up but hte link just points to the phone number I just called.
Alterx posted here but doesnt serve US clients.
Not getting a lot of assurance so far lol.

I have all my papers, ID, and proof of funds form merchant accounts.
Click to expand...
I have a way for you
 
#20
menzu said:
We got you covered - Fast settlement, support large orders (10k-3M) without affecting the market, and have fast onboarding for businesses.
Click to expand...
Is your trading fees 1% or am I mistaken?
 
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