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You'll need a Bitcoin wallet before you buy since some exchanges require one.
Don't have a wallet? Read our guide on the best Bitcoin & cryptocurrency wallets.
Kraken Buy Now Founded mid-2011, Kraken is the one of the world's largest cryptocurrency exchanges, and the largest in Europe based on daily average trading volume. It is available in almost all countries.
Deposits can be made via bank wire, SEPA, ACH and SWIFT. Users can buy bitcoin, ethereum, dogecoin and dozens of other coins.
LocalBitcoins Buy Now Read Review LocalBitcoins is an escrow service which also helps to match bitcoin buyers and sellers. Users may advertise trades for whichever payment method they prefer.
Buying bitcoins via an in-person meeting, secured and facilitated by LocalBitcoins, may be one of the fastest and most private ways to buy bitcoins in any country, including the United States, Europe (besides Germany), UK, Singapore, Canada, Australia and many more.
BitcoinCambodia.co BitcoinCambodia.co is a broker that uses LocalBitcoins. They make buying and selling bitcoins in Cambodia easy and secure. You can pay with cash in Phnom Penh, or online via MoneyGram, PayGo Wallet, WING Cash Xpress, or ABA Bank Transfer.
Bitcoin Cambodia Buy Now Bitcoin Cambodia was the first Bitcoin exchange established in Cambodia. You can create an account and buy in person with USD, via WING Cash Xpress.
Bitcoin ATMs Buy Now You can use our Bitcoin ATM map to buy bitcoins with cash. Bitcoin ATMs can be a quick and easy way to buy bitcoins and they're also private. That convenience and privacy, however, comes with a price; most ATMs have fees of 5-10%.
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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 2019, Cambodia announced the issuing its own digital currency. The money transfer platform for the Cambodian digital currency would be named “Bakong” and supported by 11 banks.
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.
COMPARISON
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Cambodia has access to many large Bitcoin and cryptocurrency exchanges.
Have a look at our favorites below:
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There are three main types of Bitcoin wallet and all of them are supported in Cambodia:
The Ledger Nano X is the newest crypto hardware wallet, and is very easy to use. It connects to iOS, Android & desktop computers.
ZenGo is an easy-to-use iOS and Android Bitcoin & crypto wallet. Start within 20 seconds.
Electrum is a Bitcoin-only wallet that has been around since 2011. It's easy to use, but has advanced features.
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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.
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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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Coinbase does NOT support customers in Cambodia as of September of 2020.
At this time, there are no Bitcoin ATMs in Cambodia.
The current price of Bitcoin in Cambodia is KHR148,165,437.87, however this amount changes every minute, so always check the value on your local exchange.
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.
Jordan Tuwiner is the founder of BuyBitcoinWorldwide.com. His work has been featured in The Guardian, International Business Times, Forbes, VentureBeat, CoinDesk and many other top Bitcoin media outlets. His articles are read by millions of people each year looking for the best way to buy Bitcoin and crypto in their country.
He has also written extensively about the history, technology, and business of the crypto world. Jordan is also the creator of some of the internet's most famous Bitcoin pages, including The Quotable Satoshi and Bitcoin Obituaries.
To learn more about Jordan, see his full bio.
