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Cambodia has adopted strict cryptocurrency regulations, restricting any of its citizens or businesses from trading Bitcoin and other tokens without first obtaining a license.

The National Bank of Cambodia (NBC), along with a few other Cambodian branches of government, announced the regulation back in 2018. Under the law, anyone trading cryptocurrencies without a proper license will be "penalized following applicable laws."

In October of 2020, Cambodia launched its own digital currency, Bakong. It is reported that over 200,000 use the digital wallet and more than 1.4 million Bakong transactions were recorded in the first half of 2021.

Phnom Penh - the capital of Cambodia

All of these regulations don't mean its impossible to buy Bitcoin in Cambodia. One of the easiest ways is through the cryptocurrency exchanges outlined above. There are several exchanges offering Bitcoin in Cambodia, and you can easily select one based on your requirements and preferences using our guide. Different exchanges have different transaction fees, withdrawal limits, payment modes, and verification processes that need to be kept in mind before users select one.

Citizens of Cambodia can also use LocalBitcoins to facilitate exchanges with others on the network, both in Cambodia and abroad. LocalBitcoins is more private than other exchanges because it doesn't require you to infringe on your privacy. Be careful with LocalBitcoins, though, and follow their rules to make sure you're not scammed.

Additionally, Bitcoin buyers need to keep in mind the fact that certain exchanges might require them to get a wallet of their own before they are able to buy the digital currency. Also, it is recommended to have a wallet of your own for security reasons, preferably a hardware wallet. If you don’t have a wallet, refer to our guide on the Best Bitcoin and Cryptocurrency Wallets to choose one.

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There are three main types of Bitcoin wallet and all of them are supported in Cambodia:

• Software (desktop or mobile - iOS and Android wallets
• Hardware wallet
• Cold-storage (paper or steel wallets, the latter of which are used to backup your main wallet.

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Ethereum (ETH) has established itself as the second most popular digital currency, after Bitcoin. Its smart contract features allow unique apps to be built on top of its platform. Below you will find exchanges in Cambodia that allow you to buy ethereum. Once you buy, you should withdrawal your ETH directly to your own crypto wallet.

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Thanks to Tesla founder Elon Musk, Dogecoin (DOGE)—a coin that started as a meme about the shiba inu dog—has recently become a popular digital currency. Below you can find crypto exchanges in Canada that allow you purchase Dogecoin.

About Dogecoin: Dogecoin has become one of the most famous altcoin blockchains. Dogecoin was founded by Jackson Palmer and Billy Markus on December 6, 2013. Thanks to its popularity on Robinhood, it hit an all time high of $0.42 on April 20. Doge started the year at under $0.01 USD. It is an open source blockchain, meaning its code is publicly available for anyone to see.

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Litecoin (LTC) is one of largest cryptocurrencies by market cap. Below you can find a list of brokerages in Cambodia that allow you to buy litecoin and other crypto assets for good exchange rates.

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Plustoken

Plus Token was a Ponzi scheme that was marketed as a high-yield investing platform. The Plus Token ponzi was so successful that by the end its operators controlled more than 1% of the total circulating Bitcoin supply.

The Chinese Ministry of Public Security announced in August of 2020 that it had apprehended 109 key suspects and detained 27 of them. Among the suspects are several Cambodians who are beleived to have assisted in facilitating the scam on locals.

The scam was so large you would see QR codes in super markets to pay for you groceries with PlusToken.

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Most people opt to buy Bitcoin directly from an exchange or another peer on the network (and rightly so), although more tech-savvy individuals may opt to mine their Bitcoin instead.

Mining is performed by a tiny fraction of those on the network. It takes place mostly in countries like China, where electricity is cheap. The majority of Bitcoin's hash rate originates in China, where extensive mining farms operate at scale.

However, anyone can mine Bitcoin, including Cambodian citizens. Whether or not it's a good idea to mine Bitcoin, is another story.

One of the largest factors used to determine Bitcoin mining profitability is electricity cost. If you mine more Bitcoin than you pay in electricity, you're profitable. That's why keeping electricity costs as low as possible is crucial for mining profitability.

Citizens of Cambodia pay roughly 610 Cambodian Riels ($0.151) per kWh, which is a bit higher than the United States average electricity cost.

According to our profitability calculator, you'd lose several thousand US dollars per year, even with the best Bitcoin mining hardware. For those who want to acquire Bitcoin quickly and easily, buying it from an exchange that is available in Cambodia is your best bet.

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Does Coinbase work in Cambodia?

Coinbase does NOT support customers in Cambodia as of September of 2020.

Where Can I Find a Bitcoin ATM in Cambodia?

At this time, there are no Bitcoin ATMs in Cambodia.

You can use our Bitcoin ATM finder tool to check back in occasionally and see if one has opened.

What is the price of Bitcoin in Cambodia?

Bitcoin prices are changing every second.

The best way to find the most up-to-date price of Bitcoin is to check out our Bitcoin price page.

How do I cash out of Bitcoin in Cambodia?

Any exchange with a Cambodian riel trading pair will allow you to sell your Bitcoin for fiat currency. BitcoinCambodia.co has KHR trading pairs for many popular coins.

As of January of 2021, there are unfortunately no Bitcoin ATMs in Cambodia.

LocalBitcoins is another option. Here, you can buy and sell Bitcoin for a wide range of payment methods, from gift cards to bank transfers. LocalBitcoins is a peer-to-peer (P2P) exchange, where you buy and sell with another individual. This does introduce a degree of risk, though by ensuring that you conduct all business on the platform, make use of its escrow services, and only trade with users who have a good reputation, you'll minimize any potential problems.

You could also use a service like eGifter to sell your Bitcoin for gift cards.