Cryptocurrencies have skyrocketed in popularity over the past decade. As of Jan 2025, the cryptocurrency market had a market capitalization of over $3 trillion. However, cryptocurrency popularity isn’t the main issue. Most people interested in investing in cryptos have difficulty getting a simple and secure way of entering the market.

The popularity of cryptocurrencies has attracted many unscrupulous crypto players. So, how do you start buying crypto in Canada in a simple and secure way? Well, below we will look at everything there is to know about buying crypto with cash in physical locations in Canada. Let’s get started with a definition.

What is Cryptocurrency OTC (Over the counter)?

Crypto OTC resembles traditional over-the-counter transactions, such as buying goods in a store using cash, and it is particularly advantageous to beginner crypto traders. There are many advantages of buying cryptocurrencies this way, let's take a closer look at the most relevant.

Top Benefits of OTC Cryptocurrency Trading

1. Physical Location. Trustworthy Familiar Approach

Buying cryptocurrency over-the-counter simply means you are buying from a physical store with an actual location. Unlike purely online cryptocurrency transactions, physical access points give crypto buyers the confidence to know they are dealing with an actual existing business. Most importantly, it’s the same as a simple traditional purchasing experience where you walk in and out of a local store.

Wondering where you can find physical locations in Canada where you can buy Bitcoin and other cryptocurrency majors with cash? BitMachina has been operating Bitcoin ATMs and Bitcoin counters in multiple locations in Canada since 2019.

2. Perfect for Large Transaction

When buying cryptocurrency purely online, there are usually limitations to the amount you can transact. With OTC cryptocurrency trading, you get to enjoy much larger transaction limits. Renowned Canadian OTC cryptocurrency buying platforms actually offer special services to OTC clients.

For instance, bitMachina has a new VIP service for clients who wish to buy/sell crypto over-the-counter. The VIP service allows you to execute very large transactions when buying or selling Bitcoin (BTC) with cash. You can also buy/sell other cryptocurrencies like Litecoin (LTC), Ethereum (ETH) and Bitcoin Cash (BCH).

Visit bitMachina's OTC VIP service location in Ottawa (Google Maps) and in Montreal (Google Maps). Transact $90,000 daily as a verified user. Fees are as low as 4% for large transactions.

Make an inquiry about high volume trades, trade facilitation/trade execution, liquidity constraints, current market conditions, exchange rates and more.

To book an appointment as an institutional user or retail user, email info@bitmachina.ca or call: 343-308-6313. This service is available all business days (9am – 5pm ) and 10am to 4pm on weekends.

3. Customized Trades and Enhanced Privacy

OTC cryptocurrency transactions also offer other benefits like custom trades. OTC desks can facilitate highly personalised services which include competitive pricing and settlement terms, a perk that wouldn’t be available in a purely virtual transaction.

In fact, OTC crypto trading is a great way to reduce problems like market price slippage, common when executing large crypto trades conventionally. What’s more, trade details aren’t publicly broadcasted, offering greater privacy. You can also get a dedicated account manager.

In summary, crypto over the counter trading is a perfect avenue for buying/selling larger amounts of crypto discreetly and efficiently (at competitive rates) without disrupting the crypto market.

The Crypto OTC (over-the-counter) Trading Process: How it Works

For both individual and institutional traders ready to buy cryptocurrency over-the-counter in Canada, there are two main approaches to consider.

a. Buying with Cash/Sell for Cash

To make crypto purchases, you simply need to visit an in-person Bitcoin counter in Canada with fiat currencies (like Canadian dollars). With a minimum transaction limit of $10, you can initiate a face-to-face transaction with a cashier. As mentioned, companies like bitMachina have multiple Bitcoin counters in Canada where you can simply walk into a physical counter with cash and buy Bitcoin, Litecoin, Ethereum, and Bitcoin Cash.

Become a VIP user and buy/sell crypto worth $10,000 to $90,000 per day using bitMachina’s VIP service.

b. Buying with a Bank Transfer

You can also buy/sell crypto via an OTC desk service. This service allows you to use a wire transfer/bank transfer instead of cash. The process has three main steps:

• Step one: Fill out a form specifying that you want to place an OTC trade. You'll also need to specify the crypto you want to buy, trade size, and other details, taking into account transaction prices.
• Step two: Execute the bank transfer. Companies like bitMachina contact their clients and guide them on everything, including reaching and executing trades at an agreed-upon price.
• Step three: The trade will be settled by a dedicated OTC desk team member.

This OTC crypto method is perfect for trading limits of $25,000 and more. Find out more about bitMachina's OTC desk service, crypto trading ecosystem and more including benefits for high-net-worth crypto traders.

Final Thoughts

If you want to buy/sell crypto, it is very common to find traditional exchanges with a purely online presence. Despite the traditional crypto exchanges can present some market risks like fraud. The process can also be complex. Other options like P2P may be convenient with escrow services but still come with counterparty risks.

Crypto OTC experiences simplify the process and make it safer, guaranteeing a pleasant trading experience for beginners. When armed with cash, you can buy/sell crypto assets in a familiar way (like you would buy goods in a grocery store). However, you need a reputable crypto trading platform like bitMachina that meets all regulatory compliance needs (including anti-money laundering).

Your ideal crypto OTC platform also needs a trustworthy local presence with access to strategically located in-store counters in Canada. Trustworthy platforms like bitMachina also offer added advantages like large transaction limits/high-volume transactions, a simple OTC process with cash or bank wire transfer, efficient execution with minimum slippage and an overall seamless experience.

BitMachina’s crypto over-the-counter (OTC) service provides a secure, private, and efficient way to trade large amounts of cryptocurrency. Whether you're an individual or an institutional trader, our VIP service in Ottawa and Montreal ensures competitive rates, personalized support, and a seamless transaction process. With high daily limits, minimal slippage, and a fully regulated environment, bitMachina is the trusted choice for OTC crypto transactions in Canada. Book your appointment today to experience a better way to trade cryptocurrency.