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

-

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.

In July 2021, The Bank of Thailand (BoT) stated "that it would coordinate with Thailand’s Securities and Exchange Commission to mitigate associated risks to the country’s financial system should crypto payments become widespread."

Still, purchasing Bitcoin is not illegal in Thailand. 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. Use the guide provided above to determine the exchange that is right for you.

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 ID below a certain dollar amount. They will however require a phone number that you can access so they aren't perfectly private by any means. You can use our Bitcoin ATM finder tool to locate one near you.

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.

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.

-

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.

-

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 Thailand that allow you to buy ethereum. Once you buy, you should withdrawal your ETH directly to your own crypto wallet.

-

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.

-

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

-

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.

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.

Jumuang was eventually arrested, as seen in the picture below.

-

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.

You can use our Bitcoin ATM finder tool to find the one nearest you.

What is the price of Bitcoin in Thailand?

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.

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.

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.