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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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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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.
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.
COMPARISON
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.
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Thailand has access to many large Bitcoin and cryptocurrency exchanges.
Have a look at our favorites below:
This ad promotes virtual cryptocurrency investing within the EU (by eToro Europe Ltd. and eToro UK Ltd.) & USA (by eToro USA LLC); which is highly volatile, unregulated in most EU countries, no EU protections & not supervised by the EU regulatory framework. Investments are subject to market risk, including the loss of principal.
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There are three main types of Bitcoin wallet and all of them are supported in Thailand:
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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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:
If anyone from these sites or others offers you crypto buying and selling opportunities on twitter, facebook, or any other social media site, beware.
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:
Most claim to be foreign companies operating outside Thailand offering services via their online portals. It is not known how much they have ripped off from an unsuspecting public.
King-oua Laohong Bangkok PostIn 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.
In September of 2019, Mana Jumuang (known as the 'Cryptocurrency Wizard') was arrested in Bangkok
Mr Mana is accused of being part of a Thai-Vietnamese gang that conned thousands of people in at least 10 Asian nations, including South Korea and Vietnam. The gang comprised three Thais and four Vietnamese....Their victims reported losses totalling about 500 million baht (or $16,008,195).
Wassayos Ngamkham Bangkok PostThai 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.
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Coinbase does NOT support customers in Thailand as of September of 2020.
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.
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.
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!
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.
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.
