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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.
- Popular Exchanges to Buy Bitcoin in Thailand
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Coinmama- Works in almost all countries
- Highest limits for buying bitcoins with a credit card
- Reliable and trusted broker
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eToro- Supports Bitcoin, Ethereum & 15 other coins
- Start trading fast; high limits
- Your capital is at risk.
We do not promote, endorse, or earn commissions from the trading of securities of any kind, including CFDs, however, eToro requires that we provide you with the following disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 62% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.
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LocalBitcoins- Support for nearly every country
- Wide range of payment methods accepted
- Trusted exchange around since 2012
Coinmama Popular Buy Bitcoin Read Review
Coinmama allows customers in almost every country to buy bitcoin. They charge a 4.9%-5.9% (depends on volume) fee on each purchase.
Customers in Europe can also purchase bitcoins with SEPA transfer for a lower fee.
Want to buy using Coinmama? This step-by-step guide will show you how to use Coinmama.
We may receive compensation when you use Coinmama. Please visit Coinmama for its exact pricing terms.
- Works in almost all countries
- Highest limits for buying bitcoins with a credit card
- Reliable and trusted broker
- Some of the highest fees among credit/debit card bitcoin brokers
LocalBitcoins Popular Buy Bitcoin 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.
We may receive compensation when you use LocalBitcoins. Please visit LocalBitcoins for its exact pricing terms.
- Can be private, fast and easy
- In-person trades require no personal information
- Purchases of bitcoin can be made quickly via cash deposit
- Beware of scams; always follow the rules!
- Harder to buy large amounts of bitcoins compared to large exchanges
- Slightly to significantly higher prices than regular exchanges; premium for higher privacy
Kraken Buy Bitcoin Read Review
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.
- Very low 0.25% taker fee, falling to 0.1% with sufficient trading volume
- Very low maker fee, falling to 0% with sufficient trading volume
- Highly-rated for security and data protection
- Requires ID verification, so not private
coins.co.th Popular Buy Bitcoin
coins.co.th is a Bitcoin broker operating in Thailand. Customers can buy bitcoin via bank or cash deposit, bank transfer, mobile payments, or ATMs across the country. They also allow trading in numerous altcoins.
- Very easy to use for first-time buyers
- Great selection of payment methods, including mobile payments
- They allow you to top up your phone's airtime with bitcoin
- Support for many altcoins
- Don't store bitcoins in coins.co.th Bitcoin wallet
- Not a private way to buy since ID verification is required
bitcoin.co.th Popular Buy Bitcoin
Bitcoin.co.th is the easiest way to buy bitcoins in Thailand. You can fund your account with the exchange via cash deposit, bank transfer, or at any ATM.
- Super easy way to buy bitcoins in Thailand
- Many payment methods available
- They allow you to top up your phone's airtime with bitcoin
- Fees not displayed; fees included in buy price
Bitcoin ATMs Buy Bitcoin
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%.
- Our map makes it super easy to find a Bitcoin ATM near you
- Bitcoin ATMs often have 5-10% fees per purchase
Mycelium Local Trader Buy Bitcoin
Mycelium Local Trader helps you find local Bitcoin sellers. Once you locate a seller, you meet up in-person and conduct the trade. Mycelium charges absolutely no fees. While Mycelium Local Trader works great in highly-populated areas, users in low population areas will have trouble finding sellers.
- Easy and cheap way to buy bitcoins with cash
- Private way to buy bitcoins, no personal information required beyond cellphone number
- Users in sparsely populated areas will have trouble finding sellers
The State of Bitcoin in Thailand
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 last year. As it stands, seven cryptocurrencies, including Bitcoin, are legal in Thailand. Let’s take a closer look at the Bitcoin regulatory scenario in Thailand.
The Regulatory Environment
In June last year, Thailand’s Securities and Exchange Commission (SEC) officially announced regulations regarding cryptocurrencies and initial coin offerings (ICOs). The regulations required ICO issuers, brokers, dealers, and digital exchanges to register with the SEC within a period of three months from the date the regulations were enforced.
Additionally, cryptocurrency participants also need to take the Thai Finance Ministry’s approval if they wish to be in the digital assets business. The upfront license fee has been set at 5 million baht (approx. $156,194), with half of that meant for token distribution and the other half for carrying out cryptocurrency operations.
An annual fee of 0.002% of the total trading volumes has been set for cryptocurrency exchanges, while brokerage firms will have to pay 0.001% of their total trading volumes as annual fees. The minimum annual fee has been set at 500,000 baht for crypto exchanges while the maximum annual fee that could be charged is 20 million baht. Brokerages have a lower minimum annual fee of 250,000 baht and a maximum of 5 million baht.
In all, the charges aren’t prohibitive like in other countries such as Indonesia. The Thai Ministry of Finance has granted digital asset business licenses to four cryptocurrency firms in January 2019 based on the latest regulations, and rejected two applications who didn’t meet the required criteria related to security, KYC processes, and custody systems. As such, the two exchanges have been directed to return funds in custody back to their customers.
However, they can reapply for a license once they meet the approval criteria. This makes it clear that the Thai government is taking steps to protect investors from potential losses by ensuring that the cryptocurrency ecosystem in the country is in strong shape. As it turns out, this isn’t the only positive step undertaken by Thailand to boost adoption of the likes of Bitcoin.
In May last year, the Revenue Department of Thailand had announced that individual cryptocurrency investors won’t have to pay the 7% value-added tax. As such, the regulatory environment in Thailand seems favorable for cryptocurrencies such as Bitcoin, paving the way for greater adoption of the same.
Buying and Spending Bitcoin 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.
To make it easy, refer to our guide on Bitcoin Exchanges in 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.
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.
