Satstreet Review: Is It A Legit OTC Crypto Service For Canadians?

Satstreet is a Canadian cryptocurrency exchange catering to private clients looking to trade Bitcoin and other cryptocurrencies with a minimum of $25,000. Having tested over 50 crypto exchanges since I started trading in 2016, I decided to take a closer look at Satstreet to determine whether it’s a platform worth considering for Canadians in 2025.

Satstreet Quick Summary

Satstreet is a great option for Canadians looking to buy or sell at least $25,000 worth of bitcoin or other cryptocurrencies. Whether you need a personal or business account, Satstreet offers both to suit your needs. Headquartered in Toronto, the company was founded by former OTC Directors at Coinsquare, one of Canada’s top crypto exchanges.

Satstreet’s team of experienced traders ensures you get the best price for your trade and provides guidance throughout the process. Since its launch in 2020, Satstreet has processed over $1 billion in transactions, and their 24/7 support team is always available to assist.

Satstreet Features

Satstreet is a dedicated trading service for private clients. Its main feature is its dedicated team of professionals who look to secure the best price for your trades. 

The team will guide you throughout the process and ensure your funds are handled securely. If you have any questions their support team is available 24/7. 

Does Satstreet have an OTC desk?

Satstreet is its own OTC Desk for Canadians. There is no trading platform that users can access themselves. Instead, a dedicated trader will complete the trade for you. Satstreet is only available for people wanting to purchase at least $25,000 worth of crypto. 

Does Satstreet Offer Staking and other features?

Satstreet does not offer additional features at this time. 

Registration And Verification with Satstreet

What You Need to Open an Account:

• Must be 18+
• A government-issued ID
• Proof of address

To sign up to Satstreet, first choose if you want to open a personal account or a business account. For personal accounts you must provide your name, date of birth, address, email and occupation.

Next, you must upload photos of a government-issued ID and a proof of address document. 

There are a couple of questions to check if you are an accredited investor and if you’re affiliated with members of the government. 

Satstreet will also ask for your phone number and your preferred method of instant messaging communication. They will add to either a WhatsApp, Telegram or Signal group in order to have direct and fast communication with you in order to lock in trades at best prices.

After you apply the team will review your application. They will give you a call and ask you employment and financial questions such as source of funds and nature of your employment. 

They thoroughly vet their clients since they are registered with FINTRAC as a money services business and must meet regulations. 

Satstreet Fees

Satstreet offers a fixed price for your trade with no slippage, providing peace of mind during large transactions. You can request a quote anytime from your dedicated representative. The trading fees are set at 1%, which is lower than some retail exchanges but higher than others, depending on the platform.

Currencies & Deposit Methods

Since Satstreet only deals with trades larger than $25,000, there are a few good options to make a fiat deposit. However, you can also deposit cryptocurrencies such as Bitcoin, Ethereum, and Litecoin. 

Spreads with Satstreet

A spread in trading is the difference between the highest price a buyer is willing to pay (bid price) and the lowest price a seller is willing to sell (ask price). The spread goes to the exchange as a profit. 

Satstreet acts as a broker between buyers and sellers and therefore charges a spread of 1%, which is lower than some other crypto exchanges we’ve seen.

How Long Do Deposits Take?

One thing I appreciate about Satstreet is its smaller client base compared to typical retail exchanges, which enables faster processing of deposits and withdrawals.

When I sent a wire transfer to Satstreet, the funds were ready for trading within an hour—a speed that’s hard to match. Depositing cryptocurrency is even quicker, making it ideal for those who want to start trading without delay.

How Long Does it Take to Withdraw Coins?

Satstreet can process your withdrawals as soon as you request it. 

Satstreet Liquidity

The less liquidity there is, the more expensive an asset will be. Since Satstreet has access to much larger liquidity pools than exchanges used by retail investors, you won’t overpay for your trades. 

A normal crypto exchange used by people buying small amounts will have their liquidity dry up when someone wants to make a large trade, for example, $25,000 or more. There might not even be enough liquidity to fill that trade. 

Satstreet has access to deep liquidity pools separate to pools used by retail investors. This means you can place trades as large as $100M without having to worry about liquidity affecting the price. 

Security and safety

I like that Satstreet gives customers flexibility when it comes to securing their digital assets. By default, they use Coinbase Custody to protect your holdings, but you don’t have to rely on this service. Instead, you can take full custody of your Bitcoin and other assets purchased through Satstreet.

If you choose to let Satstreet manage your crypto, they’ll use Coinbase Custody for a fee starting at 0.5% per year. On the other hand, if you prefer to withdraw your assets and handle custody yourself, Satstreet goes the extra mile by confirming your request via video to ensure it’s genuinely you making the withdrawal.

Mobile and Desktop app

Satstreet offers a mobile app that allows clients to conveniently track their portfolios. What I like is the app’s exclusivity—it’s private and only accessible after you’ve been accepted as a client, adding an extra layer of security and personalization.

Customer support

Every Satstreet client is assigned a dedicated support representative, accessible by phone and email. I find it convenient that you can also reach out through instant messaging for quick assistance. Whenever you need help, Satstreet’s support team is ready to assist.

There are few reviews of Satstreet online, but the ones we saw were highly positive. 

Does Satstreet Restrict or Freeze Accounts?

Any crypto exchange has the ability to freeze your account if they suspect suspicious behaviour such as trading larger amounts, or more frequently, than usual. This is to protect you from fraud. 

Since Satstreet is a dedicated service to private clients it is unlikely they would freeze your account unless you were linked to criminal activity. Every client gets a dedicated account representative, so if anything suspicious arised, they have direct access to you to clear up anything alarming. 

Can Satstreet Track where you Receive and Send Crypto?

Since Satstreet requires proof of identity and proof of address when creating an account, they can link your identity to your trades. 

If you were to withdraw your crypto from Satstreet to a personal wallet and move the crypto in and out of that, it can still be linked to your identity.

Every transaction is recorded and public on the blockchain, so linking identities with transactions is only a matter of following the trail. 

Latest Updates on Satstreet For Canadians

Satstreet now offers portfolio tracking through a mobile app, allowing users to monitor their assets in real time. Additionally, API trading will soon be available for more streamlined trading experiences, and Satstreet provides full reporting for tax purposes, making it easier for users to manage their crypto investments.

Satstreet Alternatives

If you wish to use an OTC Desk of a crypto exchange instead, we recommend Bitbuy or NDAX as alternatives to Satstreet. 

Bitbuy is a Canadian exchange with excellent security, a beginner-friendly platform, and it is fully compliant in Canada including Ontario. 

NDAX is also a Canadian exchange with low trading fees, staking, and a wide range of cryptocurrencies.

An OTC Desk at a crypto exchange may be a better alternative to Satstreet if you intend on staking, using a crypto card, or want to access any additional features they might have, since Satstreet is only suitable for buying and selling. 

	Satstreet	Bitbuy	NDAX
Trading fees	Unknown	0% to 1.5%	0.2%
Cryptocurrencies	Any	40+	36+
Additional features	None	OTC Desk	Staking, OTC Desk
Customer Support	Excellent	Good	Poor
Security	Excellent	Excellent	Good

Common Crypto Exchange Scams

There are plenty of crypto exchange scams out there and the most common ones include sending phishing emails, setting up fake exchange websites and fake social media accounts. These often include the same branding as the real exchange in order to fool you into thinking it’s real. 

If someone claiming to be a representative of Satstreet reaches out to you and asks for personal information or a payment, reach out to your dedicated account representative to check if this is a real request.

It is better to be safe than sorry and since Satstreet gives you direct access to a team member, it’s best to reach out and check before falling victim to a scam. 

Conclusion

Satstreet offers an excellent white-glove service for those seeking a tailored trading experience. With a dedicated account representative, low fees, and competitive trade prices, it’s a cost-effective option for anyone looking to make large trades.

What sets Satstreet apart is its 24/7 support. After applying for an account, I appreciated that they called to answer all my questions, which demonstrated their commitment to providing a positive client experience.

The main downside is the lack of additional features. If you’re interested in staking your assets or using a crypto credit card, you’ll need to withdraw your funds and manage custody yourself.

For accredited investors or anyone looking to make a one-time trade of $25,000 or more, Satstreet is a solid choice.