For institutions, corporate treasuries, and High-Net-Worth Individuals (HNIs) dealing with large volumes of cryptocurrency, transacting on a public exchange can be risky due to price disruption and slippage. The Over-the-Counter (OTC Trade) Desk offers a private, efficient solution.
SunCrypto’s OTC Desk provides a bespoke service, allowing clients to buy or sell massive amounts of crypto (typically ₹10 Lakhs or more) directly off the public order book, ensuring price certainty and compliance.
Phase 1: Preparation and Qualification
The OTC trade desk is a premium service with qualification requirements distinct from regular retail trading.
1. Meet the Volume Requirement
- Minimum Threshold: SunCrypto officially requires a minimum transaction size of typically ₹10 Lakhs or more to utilize the OTC Desk. This ensures the service is reserved for transactions that genuinely require off-market execution.
- No Maximum Limit: There is generally no fixed maximum limit, allowing for trades worth crores of rupees.
2. Complete Enhanced Verification
- Full KYC: You must have a fully verified SunCrypto account with complete KYC (Know Your Customer) documentation. For corporate accounts, this process is often more rigorous and involves providing documentation for the business entity.
- Fund Allocation: Ensure the necessary funds (INR or cryptocurrency) are ready and available in your SunCrypto wallet or linked bank account, as required by the desk.
Phase 2: Initiating the OTC Trade
The OTC process begins with direct communication, bypassing the automated app interface.
1. Contact the OTC Desk
- Initiation: You can initiate the process by reaching out to the SunCrypto team via their dedicated OTC request form (usually found on their website) or by emailing their support team (e.g., help@suncrypto.in).
- Dedicated Manager: Upon contact, you will be assigned a dedicated OTC manager. This manager acts as your single point of contact, guiding you through the entire transaction with personalized service.
2. Request a Quote
- Provide Details: Clearly state the asset you wish to buy or sell (e.g., ₹50 Lakhs worth of BTC, or 100 ETH for INR) and the desired settlement currency (INR or crypto).
- Receive Fixed Quote: The OTC manager will tap into their deep liquidity network and provide you with a single, fixed, all-inclusive price for the entire transaction volume. This price is guaranteed for a short window (typically a few seconds to minutes).
3. Agree on Terms
- Price Lock: If you accept the quote within the given timeframe, the price is officially “locked in.” This eliminates the risk of slippage, ensuring you get the exact price you agreed upon.
- Final Verification: You and the OTC manager will confirm all transfer instructions, including the amount, price, fees, and destination wallets/bank accounts.
Phase 3: Execution and Settlement
The execution of an OTC trade is designed to be fast, secure, and fully compliant with Indian regulations.
1. Execution of the Trade
- The trade is executed privately, off the public order book. This is the key advantage, as the large transaction does not affect the visible market price on the main exchange.
- The OTC manager coordinates the immediate matching of your order with the counterparty (a private seller or the OTC desk’s liquidity pool).
2. Fund and Asset Transfer
- For Buying Crypto (INR to Crypto): You transfer the agreed-upon INR amount to the designated SunCrypto bank account (or fund the INR wallet). Once confirmed, the OTC Desk instantly credits the cryptocurrency to your SunCrypto wallet.
- For Selling Crypto (Crypto to INR): You transfer the cryptocurrency to the designated SunCrypto wallet. Once confirmed on the blockchain, the OTC Desk initiates the INR transfer to your verified bank account.
3. Settlement and Confirmation
- Speed: Most OTC trades are settled very quickly—often within minutes once the price is locked and funds/crypto are transferred.
- Fees and Compliance:
- Fees: The OTC Desk charges a minimal service fee, which is fully disclosed in the initial quote. There are no hidden charges.
- TDS: All crypto sales (crypto-to-fiat or crypto-to-crypto) are subject to the mandatory 1% TDS deduction as per Indian tax law, which SunCrypto handles automatically.
By using the SunCrypto OTC Desk, high-volume traders gain the certainty of fixed pricing and the discretion of private execution, making it the superior choice for moving significant capital into the crypto ecosystem.
Disclaimer: Crypto products & NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions.