How to buy large amounts of Bitcoin online in 2022

By:

Max Adams

Max was the Editor of Education for Invezz from 2019-2021, overseeing the wider investment educational strategy. He has written… read more.

Updated: Aug 16, 2022

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As cryptocurrency has grown to become a feature of modern finance, many investors are putting a significant amount of money into Bitcoin. This beginner-friendly guide takes you through the best exchanges to use, the fees involved, and all other factors involved in large Bitcoin transactions.

Compare the best places to buy large amounts of Bitcoin

If you want to buy your coins right away, then these are the best platforms to use for large amounts of Bitcoin. Simply use the table to compare your options and then follow the link to be directed to your chosen exchange. Alternatively, if you want to learn more before making a purchase, scroll down and keep reading.

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What is a large amount of Bitcoin?

The answer to this question depends a little on your financial situation, but generally, a “large amount” in this instance means £10,000 worth or more. Due to fluctuations in the market, this figure usually represents somewhere between a quarter and half of a Bitcoin.

What’s the best way to buy a lot of Bitcoin?

Typically, the two main options you have when making a large Bitcoin purchase are regular cryptocurrency exchanges with high limits and OTC (Over The Counter) exchanges. Both of these approaches come with their pros and cons, and we’ve broken them down for you to help you decide what works best for you.

Cryptocurrency exchanges vs OTC exchanges

The main difference between ‘normal’ Bitcoin exchanges and OTC exchanges is who you’re doing business with. On traditional exchanges you’re trading coins directly with other users of the exchange, whereas OTC services work a bit more like brokerages: you communicate with someone who gets the number of coins you want and transfers them to you. 

Here’s a quick run-through of what to consider before choosing either option.

Traditional crypto exchanges

Exchanges are the most common way to buy cryptocurrencies, and unless you’re making your first Bitcoin purchase it’s likely you’re already familiar with at least one of them. On these platforms, there is a constantly updating order book, with coins being bought and sold between users at the best available price.

When it comes to buying large amounts on these platforms, the concept of ‘best available price’ becomes hard to pin down, however. Each seller will only have a certain amount of Bitcoin available to trade, and therefore you might need to fill multiple orders if buying a significant amount. This can mean that the amount you pay for each coin will vary as your continued purchases drive up the price.

OTC exchanges

These services specialise in catering to clients who want to make large trades. Whereas with an exchange you have to complete every transaction yourself, with OTC exchanges you agree to a set price in advance and a broker or dealer acquires the Bitcoin and sends it to you for that amount.

This means you don’t have to worry about the variable price of coins as you do when making large purchases on an exchange, but it does also mean you’re likely to pay a premium price overall for the service provided by the OTC exchange.

Other options

Depending on what “large” means to you in terms of a transaction, you might find you can comfortably get as many coins as you’re looking for on a regular broker or exchange. For instance, if you want to invest £1,000 in Bitcoin then familiar services such as Coinbase or Binance can help you do this with no problem.

You can also find services that allow for anonymous ways to make purchases, or to pay for Bitcoin with cash – but be careful if going down this route as there’s little help if things go wrong. Overall, the best place to look is our guide to buying Bitcoin which will take you through all the options available.

Things to look out for

There are a few factors you need to consider when buying large amounts of Bitcoin, from the fees involved to the security of your coins. Here’s what to bear in mind to make sure everything goes smoothly.

Slippage

This is a common problem when placing a large order, and refers to market movements happening before your order is complete. This often results in the amount of Bitcoin you receive being less than expected, as the price of each coin could increase before all the coins have been bought.

This can happen because you may have to fill multiple orders from the exchange order book when making a large purchase, or it can simply be the result of the market fluctuating quickly while your order is still open.

Trading volume

When making large transactions, you want to make sure you’re using an exchange with high liquidity. An active exchange with a high volume of trades will be less vulnerable to slippage when large orders are placed, meaning you’re most likely to receive the amount of Bitcoin you’re expecting.

Fees

As with any online trading, check the amount you’ll have to pay in fees before parting with a large amount of money. To give some examples, you could encounter deposit/withdrawal fees, trading fees for each order placed, charges for using your chosen method of payment, or blockchain fees which could impact the amount of BTC you receive. Check out our reviews of each platform to make sure you don’t get burnt.

Trading limits

It almost goes without saying that if wanting to make a large crypto purchase, you need to choose an exchange that has high trading limits. Minimum trade limits aren’t likely to be an issue (unless you also want to make other smaller purchases), but some platforms have restrictive upper trading limits. It can be easy to neglect this aspect of each platform and focus on the fees, so take time to ensure a platform can support your trades before registering.

Security

Especially when spending a large amount of money, you should only use a platform you can trust to keep your funds secure. Most prominent exchanges have a strong track record of holding their users’ funds; be sure to look into the protection provided by an exchange before trusting it with handling large transactions.

Quick answers to key questions

Is there a limit to how much Bitcoin I can buy?

In general, no: the only restriction on the amount of Bitcoin you can purchase is the amount you can afford. Technically the answer would be 21,000,000 as this is the maximum about of Bitcoins that will ever exist – but in reality, the only restrictions on your transactions will be daily or monthly limits set by the exchange you’re using.

Can I buy Bitcoin with another cryptocurrency?

Yes. In fact, the majority of trades made on exchanges are by people swapping one crypto for another. If you already hold a large amount of another cryptocurrency – for example, Ethereum or Dogecoin – then you can convert these into Bitcoin at the current ETH/BTC or DOGE/BTC price.

Will I have to pay extra fees for a big transaction?

It depends on the way you choose to buy your coins. If using an OTC exchange, then any fees will be included in the price you’re quoted, which will be higher than the current market price of Bitcoin. If, on the other hand, you complete your purchase on a regular exchange then you could encounter small fees for each transaction, withdrawal fees, and risk losing some of your money to slippage in the market.

Can I use more than one exchange?

There’s no reason you need to buy all your coins with one exchange, so if you want to you can complete transactions across multiple exchanges instead of one large purchase. It will be hard to execute all these orders at the exact same time, however, so you might find the chances of falling victim to slippage in the market increase as you’re trading over a longer time frame.

Where should I store my coins?

When buying a large amount of any crypto, it’s a good idea to store them securely in a private wallet. The ideal choice would be a hardware wallet, as these keep your coins in ‘cold storage.’ This means your private keys are stored offline and out of reach from hackers. Two of the best options when it comes to hardware wallets are the Ledger Nano S and the Trezor One.

What should I do now?

If you’re ready to buy, then head to the table at the top of this page and head to one of our trusted partners. Otherwise, you can find out more about investing in Bitcoin here, or – if you’re still not 100% confident with how Bitcoin works – you can head to our beginner-friendly Bitcoin 101 course which will take you through everything you need to know. To find out what is happening with Bitcoin right now, here is the most recent analysis from our team of experts.