Bitcoin’s popularity and value have skyrocketed this year. Because it has become a really attractive option for investors who see it as a way to make quick money and be part of a truly exciting movement.
Asia is one place where Bitcoin is really making a mark, much like the rest of South East Asia, cryptocurrencies and blockchain technology are slowly but surely growing and Thailand is no exception.
At the frontline of this is a craving for local residents to get their hands on Bitcoin. However, regulation is still in its infancy in the country. Unlike many other Asian countries in Thailand, the regulations around Cryptocurrencies are quite relaxed. Making it an excellent place to start buying Bitcoin safely.
It was in May 2019, that the Thai Securities and Exchange Commission (SEC) announced its approval for cryptocurrencies in likes of – Bitcoin, Ethereum, Ripple, and Stellar. After it banks attempted to ban cryptocurrencies in 2013. These coins were approved by the SEC because of their decentralized infrastructures in particular.
If you live in Thailand and want to invest or buy bitcoins with a Thai bank account, then this post is for you.
Regulated online brokers, cryptocurrency exchanges, and even a couple of Bitcoin ATMs are the many options you can choose from. This includes. In this article, We will cover everything you need to know about how to buy Bitcoin with a credit card and other bank payment options.
While these platforms allow you to buy Bitcoin with a bank account, one of the easiest ways is to buy Bitcoin is through cryptocurrency exchanges in Thailand.
There are many different exchanges which you can use to buy and sell Bitcoin or indeed any other cryptocurrency in Thailand.
With some exchanges being better than others, some charge higher fees than others and some have a better reputation than others.
Not all exchanges are equal and because the world of cryptocurrencies is almost entirely unregulated, it will be wise for you to do some research on a particular exchange before jumping in with both feet.
Below is a guide on how you can buy Bitcoin with your Thai Bank, using Crypto exchanges in Thailand.
1. Bx.in.th
Bx.in.th permits deposits from many Thai banks like The Bangkok Bank, The Siam Commercial Bank, TMB Bank, Krungthai Bank, Kasikornbank, and Krungsi Bank.
Bx.in.th is operated by Bitcoin Co. Ltd., a Thai registered company since 2013. The corporate charges 0.25% as a fee per trade. Besides Bitcoin-Thai Baht exchanges, Bx.in.th also trades various altcoins such as Litecoin, Dogecoin, Stellar and so on. At one point, bx.in.th held a high trading volume for Stellar after Justcoin proclaimed their shutdown.
Bx.in.th provides proof of funds controlled by the exchange by listing all the addresses that have unspent inputs. Users might request the exchange operator to sign a message for every address to proof that the addresses are indeed within the exchange’s management.
2. Coins.co.th
For folks living in Thailand, the good news about Coins is that you can simply purchase Bitcoins through a bank deposit, online transfer, CTM or ATM via most of the banks in Thailand.
This corporate was found in 2014 by Silicon Valley entrepreneurs Ron Hose and Runar Petursson, Coins is perhaps the most effective cryptocurrency exchange known in Thailand.
When it comes to selling, you can also easily send the money directly into your bank account, so says Coins on its website.
They stand out as they have a convenient Bitcoin-to-fiat-currency choice. This can be done with the assistance of Krungthai Bank’s ATMs that have a feature of withdrawing funds without owning even a bank card. All you need is
just a Thai mobile phone number to receive references for the authentication procedure.
3. Coinmama
Coinmama is a leading cryptocurrency exchange that enables you to purchase and sell bitcoin and other different cryptocurrencies with a credit card or bank transfers. Since its origination in 2013, it has fully grown to serve over two million customers across several countries and today has over 40 employees. Coinmama is a really straightforward exchange, that makes a perfect platform for safe, secure and fast transactions.
4. Bitkub
Bitkub allows THB deposit and cashes out through bank transfer at Kasikorn bank (KBANK), Siam Commercial Bank (SCB), Bangkok Bank (BBL), and Krungsri Bank (BAY). This exchange does not allow you to buy Bitcoin with a credit card or e-wallet, so you’ll need to opt for a bank transfer.
Bitkub is one of Thailand’s leading cryptocurrency exchange. It had been established in February 2018 and emcompasses a paid-up capital of 50 million Thai Baht ( over 1.5 million dollars). It is controlled by the Bitkub Capital Group Holdings out of Bangkok.
Bitkub trades ten coins with Thai Bonetary unit (THB) pairings and is rapidly adding more. It charges 0.25% fees on all trades. It has a charge of 20 THB withdrawal for K-Bank and 20-200 THB withdrawal charges for other banks.
Conclusion
Although cryptocurrencies and blockchain technology are still in their infancy, the industry is getting more and more popular in Thailand. Well, there are several ways you can buy Bitcoin with your Thai bank. Firstly, the country is home to two Bitcoin ATMs, located in Pattaya and Chang Mai. This obviously won’t be of any use if you do not leave within distance.
Nevertheless, there are a number of ways you can buy Bitcoin in Thailand.
As we have discussed throughout this article, the easiest, cheapest, and most convenient way of doing this is by the use of local Bitcoin exchanges where you can sign up and link your Thai bank accounts then buy Bitcoin.
