5 crypto exchange sites Thais should consider
Local businesses in many countries including Thailand have started to embrace cryptocurrencies to give people a safer alternative to fiat money. Before you can start spending cryptocurrencies, you have to exchange your Thai baht (THB) to a digital asset you prefer.
Thais may consider any of these 5 reliable crypto exchange sites
Owning cryptocurrencies in Thailand could pose a challenge as the country’s Securities and Exchange Commission (SEC) recently cautioned the public about unregistered crypto businesses, which refer to companies that use initial coin offering (ICO) to raise funds for a crypto project. To avoid this, individuals should only buy cryptocurrencies that are already listed in well-known exchange sites.
Some traders prefer to use local money when buying cryptos instead of international fiat money like USD and EU because it allows them to buy cryptos at a lower price. Newbie crypto traders may consider any of these reliable exchange sites that supporting THB:
1. Bx.in.th—is a spot trading-only, Thailand-based crypto exchange site that uses two-factor authentication (2FA) and withdrawal limitation options for security. People can pair THB to a variety of listed cryptocurrencies. For every trade, Bx.in.th charges a standard fee of 0.25%. Some reviews, however, say that the platform is often down for maintenance.
2. LocalBitcoins.com—is a crypto exchange site that supports fiat money from more than 200 countries including the Thailand Baht. Traders often prefer this platform because the price of the cryptos they sell are very close to the standard price. The platform protects traders through an escrow system. Beginning traders, however, might be turned off by its costly fees.
3. COINBX—is a new Bitcoin-only crypto exchange site. This platform claims to offer fast BTC transfers and cheap transaction fees. It can handle only 50,000 THB transactions daily and doesn’t have a full function trading board that’s similar to that of other trading sites.
4. REMITANO—is a platform that allows people to trade their THB with either Bitcoin or Ethereum. Although REMITANO allows people to buy cryptos using THB, it doesn’t offer trading features offered by other crypto trading sites.
5. coins.co.th—is one of the popular local crypto exchange sites that offer faster transaction procedures using a Bitcoin wallet. The downside of this platform is that it only allows traders to buy a maximum of 10 BTC. (Some traders may find it cumbersome to submit documents for verification purposes.)
A recent report revealed that tourists in Thailand prefer to use Bitcoins in making purchases instead of credit cards because of fraud.
In Bangkok alone, some business establishments like nightclubs and burger houses are now accepting cryptocurrencies. As Thailand embraces the cryptocurrency technology, many reliable crypto trading platforms are considering supporting the THB.