Bitcoin OTC Desks Explained: Where Big Buyers Actually Get Their Coin
How Bitcoin over-the-counter desks work, who uses them, what they charge, and at what dollar amount it actually starts to make sense over a regular exchange.
Sending Bitcoin sounds technical, but it is closer to sending an email than to wiring money. The catch: there is no ‘undo’ button. Here is how to do it correctly the first time.
The first time most people send Bitcoin, their hands shake a little. That is normal — and it is also the right instinct. Bitcoin transactions cannot be reversed, cannot be charged back, and cannot be cancelled by a customer service phone call. The good news is that the actual mechanics of sending are simple. The whole process — from opening your wallet to seeing the transaction confirmed on the blockchain — takes less than five minutes once you have done it once.
This article walks through exactly what to click, in what order, and what to double-check before you press ‘Send.’ It assumes you already have some Bitcoin in a wallet. If you do not yet, start with our How to Buy Bitcoin in 2026 guide first.
Before you click anything, it helps to understand what is actually happening behind the scenes. When you “send Bitcoin,” you are not transmitting a file or pushing money through a payment processor. You are signing a message that says, in effect: “I, the holder of the private key for this address, hereby authorize moving X Bitcoin to address Y.” Your wallet broadcasts that signed message to the Bitcoin network. Within about ten minutes, a miner includes your transaction in the next block. Within about an hour, the transaction is settled with practically irreversible finality.
This matters for three practical reasons. First, you do not need the recipient’s permission, account number, or login. You only need their Bitcoin address. Second, the Bitcoin network does not know or care who the recipient is — it only verifies that the signature is mathematically valid. And third, once your transaction is broadcast, you cannot take it back. Even if you accidentally added a zero. Even if the recipient address belonged to a scammer. Even if you typed it yourself by hand and got one character wrong.
This is why every serious Bitcoin user develops the same habit: triple-check the address before sending, and start every new recipient with a small test transaction.
A Bitcoin address is a string of 26–62 characters that starts with one of three letters: 1, 3, or bc1. For example: bc1qar0srrr7xfkvy5l643lydnw9re59gtzzwf5mdq. The recipient generates this address inside their own wallet by tapping ‘Receive’ — it takes them about two seconds.
You should always get the address directly from the recipient through a channel you trust. The four common ways:
One important note about address types: a single wallet often supports multiple address formats. Sending Bitcoin to any of them works the same way — the recipient’s wallet will see and spend it regardless. If you are curious about the differences (Legacy, SegWit, Taproot), see our deep dive on Bitcoin address types.
Every Bitcoin wallet — whether on your phone, your laptop, or a hardware device — has the same two buttons: Send and Receive. Tap Send.
You will see three input fields, more or less universally:
Paste the address. Type the amount. Then we get to the fee, which deserves its own section.
Every Bitcoin transaction includes a fee paid to whichever miner includes it in a block. The fee does not depend on how much money you are sending — it depends on how much data your transaction occupies. Sending $5 and sending $5 million can cost the exact same fee.
Most modern wallets show three fee options: low (will confirm in a few hours), medium (about an hour), and high (the next block, ~10 minutes). For non-urgent sends, the medium option is the right default. For urgent sends — you are paying for something now and the recipient needs the confirmation — pick high.
In normal network conditions in 2026, fees range from $0.50 to $5 per transaction. During brief periods of network congestion (typically right after major news events), the high-priority fee can spike to $20+. If you are sending less than $50 of Bitcoin during a fee spike and it is not urgent, just wait an hour. The fee market always cools off.
Two pitfalls to avoid here. First, the ‘low’ option can occasionally leave your transaction stuck in the mempool for days. If you really need it cheap, use it — but understand the tradeoff. Second, do not manually set a fee of zero or a few cents thinking you are being clever. The transaction will simply never confirm.
For a deeper dive into how fees work and how to fix a stuck transaction, see Bitcoin network fees explained and how to fix a stuck Bitcoin transaction.
Your wallet will show you a confirmation screen. This is the most important moment in the entire process. Pause for ten seconds and check three things, in this order:
Once you tap ‘Confirm,’ your wallet broadcasts the signed transaction to the Bitcoin network. Within seconds, dozens of nodes around the world will have a copy. Within about ten minutes, a miner will include it in a block. After that block, you have your first “confirmation.” After six confirmations (about an hour), the transaction is considered fully settled by virtually any merchant or exchange in the world.
You can watch all of this happen on a public block explorer like mempool.space. Paste your transaction ID (your wallet shows it after sending), and you will see the transaction sitting in the mempool, then included in a block, then confirmed again and again as new blocks are mined on top.
For a primer on what those numbers actually mean, see our block explorer beginner’s guide.
If your wallet shows a balance of 0.001 BTC and you type ‘0.001’ into the amount field, your wallet will tell you there is not enough Bitcoin to also pay the fee. The fix: every wallet has a ‘Send Max’ or ‘Use entire balance’ button that automatically subtracts the fee. Use that button.
Clipboard hijackers are a real and unglamorous form of malware. They sit on your computer, do nothing visible, and silently watch for anything that looks like a Bitcoin address being copied. When they see one, they replace it with the attacker’s address. The defense: always verify the first and last few characters of the address against the source. If they do not match, your computer is compromised — do not send.
This applies mostly to other cryptocurrencies, not Bitcoin — but enough beginners get confused that it is worth saying. Bitcoin does not use memos or destination tags. If a website asks you to include one when sending Bitcoin, you are probably on a phishing site or sending the wrong asset.
The roughly 10 minutes between ‘broadcast’ and ‘first confirmation’ can feel very long. Resist the urge to send a second transaction. Resist the urge to contact support. Just open the block explorer, watch your transaction sit in the mempool, and wait. It will confirm.
If you are sending Bitcoin to your own hardware wallet (a Trezor, Ledger, ColdCard, etc.) for the first time, the process is identical with one extra step: the hardware wallet shows you the receiving address on its small screen. Compare that address — the one shown on the device itself, not the one shown on your computer screen — against the address you are about to send to. This catches the rare case where malware on your computer has swapped the address shown in the wallet’s software interface.
For the full hardware wallet onboarding sequence, see our hardware wallet setup guide.
For very small payments — less than $50 or so — the Lightning Network offers near-instant settlement and fees of a few cents. Lightning addresses look different (they often start with lnbc and are far longer) and require a Lightning-capable wallet. The user experience is similar but faster: paste, confirm, done.
If you have never used Lightning, see our Lightning Network for beginners primer.
That is it. After your first one or two sends, the entire workflow takes less than two minutes. The hardest part is learning to slow down on the verification step — but once it becomes a habit, sending Bitcoin feels routine. Just remember: the network does not have a customer service line. You are your own bank, which is exactly what makes Bitcoin worth using in the first place.