We may receive advertising compensation when you click certain products. Before jumping into this page, an important disclosure.

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.

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Thailand is best known as one of the top holiday destinations globally, though at the same time, it is one of the leaders in cryptocurrency adoption as well. The likes of Singapore, Japan, and Hong Kong are some of the popular blockchain hubs in Asia, but Thailand is looking to catch up fast.

However, Thailand was not always a haven for cryptocurrencies such as Bitcoin. The country had originally banned cryptocurrencies in 2016 before changing its stance in 2019.

One of the easiest ways to buy Bitcoin in Thailand is through cryptocurrency exchanges. There are quite a few of these exchanges in the country where you can sign-up and buy Bitcoin, though choosing one will depend on various factors such as transaction fees, payment modes, verification requirements, reputation, and withdrawal limits, among others.

Coinmama supports 188 countries including Thailand

However, potential buyers should ideally get a wallet first to store the Bitcoin, as some exchanges might require them to do so. Additionally, having a separate wallet is advisable for security reasons. In case you don’t have a wallet already, refer to our guide on the Best Bitcoin and Cryptocurrency Wallets to choose one.

On the other hand, Bangkok residents can go to a Bitcoin ATM and purchase the cryptocurrency using cash. There are two Bitcoin ATMs in Bangkok and one in Chiang Mai. The advantage of buying Bitcoin through ATMs is that the purchase is instant and most of them usually don’t require identity verification, making the purchase anonymous. You can locate a Bitcoin ATM in Thailand using our Bitcoin ATM Map.

However, be prepared to pay higher transaction fees in the range of 5%-10% if you’re buying Bitcoin through the ATM in exchange for the privileges.

There are 6 known Bitcoin ATMs in Thailand

Another important thing to note is that there are quite a few places in Bangkok where you can spend your Bitcoin. From nightclubs and bars to accommodation and marijuana, Bitcoin is gradually turning into an alternative means of payment for many businesses in this tourist hotspot.

As such, Bitcoin seems to have a great future in Thailand thanks to the government’s positive approach toward cryptocurrencies, the acceptability of the currency, and its status as a famous holiday destination that could do with a variety of alternative payment options.

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Thailand 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 Thailand:

• 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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Thai SEC Warnings

In 2018, the Thai SEC issued warnings regarding 14 cryptocurrency exchange websites operating without licenses in Thailand.

Complaintants in Thailand had reported these sites after they had been solicited over social media to buy and sell cryptocurrencies via the social media platforms.

The listed sites to avoid:

• payniex.com
• misterchanger.com
• thaiexchanger.com
• egtexchange.com
• digicardshop.com
• superrichexchanger.com
• emoneythai.com
• i-exch.com
• exchangercoin.com
• gamershoppings.com
• ecurrencyplus.com
• ecurrencythailand.com
• lnwexchanger.com
• R Exchange’s Facebook page

If anyone from these sites or others offers you crypto buying and selling opportunities on twitter, facebook, or any other social media site, beware.

FX Trading Corporation Scam

In August of 2019, the Thai Securities and Exchange Commision issued warning to the public regarding cryptocurrency exchange FX Trading Corporation as well as other similar "exchanges" operating in a similar scammy fashion.

According to the Bangkok Post:

In one review of the company, it is said they have promised 2.5% ROI per day, which is an impossible ROI to guarantee without running a ponzi scheme.

FX Trading Corp's Homepage.

Cryptocurrency Wizard Fraud

In September of 2019, Mana Jumuang (known as the 'Cryptocurrency Wizard') was arrested in Bangkok

Thai and Vietnamese investors gave Mr. Jumuang money to invest in cryptocurrencies, thinking he was an expert, but in reality, he was merely embezzling his customers' money.

Thai police arresting Mana Jumuang (right) at a football field in Huai Khwang district, Bangkok.

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Does Coinbase work in Thailand?

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

Where Can I Find a Bitcoin ATM in Thailand?

There are 6 Bitcoin ATMs in Thailand. One in Pattaya, four in Bangkok, and one in Chiang Mai - all very touristy places that you might be likely to visit or live in.

What is the price of Bitcoin in Thailand?

The current price of Bitcoin in Thailand is €9,353.49, however this amount changes every minute, so always check the value on your local exchange.

Which businesses in Thailand accept Bitcoin?

Many establishments and service providers accross the country now accept Bitcoin as payment.

Some of these goods and services are listed below:

Legal services through Pugnatorius LTD.

Travel and tourism services through Smiling Albino and Four Wheel Travel LTD.

Movies through Major Cineplex Theaters.

and many more!

How do i cash out of bitcoin in Thailand?

Any exchange with a Thai Baht trading pair will allow you to sell your Bitcoin for fiat currency. Cex.io has THB trading pairs for many popular coins.

Another way to buy Bitcoins in Thailand is through automated teller machines (ATMs). These ATMs allow users to instantly purchase and sell cryptocurrency using cash, however most of them require at least a phone number, so they aren't totally private.

Local Bitcoins is another option. Here, you can buy and sell Bitcoin for a wide range of payment methods, from gift cards to bank transfers. Local Bitcoins 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.