Best Crypto Exchange in Thailand – Top 5 Bitcoin Exchanges in 2021

Bitcoin (BTC) popularity continues to eek forward as mainstream adoption of crypto becomes a reality. Bitcoin was bought about in 2008 by the anonymous individual/group known as “Satoshi Nakamoto” and is the father/origin of all cryptocurrencies. Great for beginners, discovering the best exchanges in Thailand will set you on your crypto journey safely.

This Best Crypto Exchange in Thailand guide details the steps needed to purchase Bitcoin and reviews which exchange is best to use. In this guide, you can find the advantages and disadvantages of buying Bitcoin and learn which exchanges are best to use to do so.

#1 Crypto Exchange Thailand – eToro

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Best Crypto Exchange Thailand – Top 5 List

Which is the best crypto exchange in Thailand? Here is of the most popular and recommended crypto exchanges.

  • eToro – Overall Best Crypto Exchange Thailand
  • Huobi – Best Bitcoin Site for Asset Diversity
  • Bittrex – Recommended Exchange for US tokens
  • FTX – Best Thailand Crypto Exchange for Low Fees
  • KuCoin – Best Beginner-friendly crypto exchange

We created full reviews for each cryptocurrency exchange to assist you with the decision-making process, you can see these options below.

67% of all retail investor accounts lose money when trading CFDs with this provider.

Best Crypto Exchanges in Thailand

1. eToro – Overall Best Crypto Exchange in Thailand

eToro has been a leading multi-asset platform for investors who prefer stocks, commodities, and even cryptocurrencies. Currently, more than 120+ cryptocurrencies are supported on the platform. Furthermore, it is a high-end platform that allows various experienced professionals to perform algorithmic trading.

Moreover, eToro enables institutional investors to perform their functions as well. The platform was launched in the year 2007, with 2013 being the advent year for Bitcoin exchanges. It allows users to start trading in Bitcoin without incurring annoying deposit fees.

Moreover, one can opt for PayPal and other payment methods to make deposit funds into their accounts. It allows investors to trade in global markets of crypto 24/7. Lately, in 2019, eToro started offering cryptocurrency trading and wallet custody to US customers as well in its interface. The millennials now refer to the exchange as more than just a shopping place for bitcoins and other stocks. It is now referred to as a social trading platform that allows the new users to copy each other’s trades through social trading.

To help you along the process of starting your crypto-trading journey, you’d need to sign up and complete the KYC-related norms and procedures. After which, you can deposit fiat funds. The minimum deposit amount is set to $200 and as we mentioned earlier, there are multiple methods to deposit the funds.

Voila, you can now start trading cryptocurrencies! Additionally, you can practice with the demo trading option before diving into the ocean of cryptocurrency to gain confidence.

Pros

  • Offers great learning materials which instils confidence and understanding.
  • No deposit fees are charged on transactions.
  • It has a mobile trading app, providing a platform for individuals to trade on the go.
  • Customer support facilities are available 24 hours on working days.
  • eToro is a regulated cryptocurrency platform.

Cons

  • A minimum deposit of $200 is required to start trading.
  • Although it is an established platform, new crypto features might be experimental as the industry is growing fast.

67% of all retail investor accounts lose money when trading CFDs with this provider.

2. Huobi – Crypto Exchange that Offers Most Asset Diversity

Huobi is an established multi-asset trading platform founded in the year 2008. Moreover, Huobi allows traders to trade nearly 400 crypto assets, greatly fulfilling asset diversity needs. Other than crypto; forex trading, spread betting, and tokenized stock trading are some of the other popular assets available on this platform.

Huobi is regulated by the FSA or Financial Services Agency of Japan and hence is globally recognized as a high reputation cryptocurrency exchange.

The Huobi HQ is in Singapore, and currently, the platform has 100,000+ daily active users. Huobi, as a trading platform, can be used across the globe, as it has a presence in over 194 countries including regions like Europe, Asia-Pacific, and Africa.

The minimum deposit is $1, and the withdrawal fees vary as per the payment method chosen. Moreover, the platform charges small deposit fees on the users’ trading. Huobi’s mobile application is present on the Google Play Store and can be secured via PIN or fingerprint technologies.

Pros

  • Excellent customer service across the regions and in many different languages. It offers live chat and email support to its users.
  • It is recognized as safe by the FSA.
  • It allows the users to get deposits and withdrawals within 2-3 days.
  • It allows the traders to use MT4 and MT5 as a trading platform, which provides advanced analytics and subsequent features.
  • The presence of the demo funds helps the users to feel acclimatized to the platform.

Cons

  • It has no phone support facilities available when and which a user faces a specific issue.
  • It charges deposit fees, unlike other trading platforms.

67% of all retail investor accounts lose money when trading CFDs with this provider.

3. Bittrex – Recommended Exchange for US Specific Tokens

Bittrex was founded in 2014, shortly after cryptocurrencies started gaining mass-market recognition. Moreover, the trading platform was launched by three senior Amazon managers who previously worked in Microsoft as well. Due to their past experiences, Bittrex is one of the most recognized trading platforms in the USA.

Bittrex employs the regulation model known as “The Blockchain Act.” Accordingly, the users interested in trading on this platform will have to undergo KYC checks. The company has lately revamped its trading platform and the subsequent engine under the hood, allowing users to experience a 20x faster experience than before.

Users are free to buy cryptocurrency using fiat currencies, which wasn’t possible before 2021. The transaction feed for trading is limited to 0.25%, which makes it favorable for both seasoned professionals and for beginners alike. It has an active user base of 500,000 people with a trading volume that goes as high as $200 million daily.

The advent of data leaks and cyber hacks have trembled the cryptocurrency across the world on a few incidents. However, Bittrex crypto trading platform has a top-notch cybersecurity measure due to its founders being ex-Microsoft employees and having 50 years of cybersecurity experience combined.

Pros

  • Excellent security framework, and chances of exploits are minimal.
  • A vast array of cryptocurrencies is available on the Bittrex platform.
  • It has a competitive withdrawal fee structure.
  • The customer service is top-notch, and available 24/7.
  • It can cater to 200+ countries and is available via a mobile app as well.

Cons

  • Bittrex doesn’t offer a demo trading account to practice with.
  • It has deposit fees in place.
  • Leverage is limited to 1:1.

67% of all retail investor accounts lose money when trading CFDs with this provider.

4. FTX – Best Crypto Exchange for Low Fees

FTX exchange launched its operations in May of 2019 and established itself as one of the most major global crypto exchange out there.

In addition to cryptocurrency trading on the spot market, FTX is currently offering its clients various advanced trading options such as futures, and binary options. FTX is currently the fourth largest crypto exchange with a volume of over $1.7 billion as recorded on the 25th of September in 2021.

What makes FTX one of the best exchanges in Thailand? It would be the low fees. FTX is currently offering low rates compared to other crypto exchanges currently in operation. A user is required to pay 0.07% whereas most others will charge 0.10% on average.

Another reason for which FTX is considered as the best is the option to trade both crypto currencies and tokenized S&P500 stocks such as TESLA and GOOGLE on FTX exchange. The option to trade both crypto and tokenized stocks on one platform attracts many crypto investors and is a truly innovative feature.

Also, traders in Thailand are not required to submit KYC documents currently to open an account or to trade on FTX. FTX offers multiple advantages to crypto traders which is why they have become so popular in a few years.

Pros

  • Low fees
  • Easy payment options
  • No need of KYC (Limits and restrictions may apply depending on your jurisdiction)
  • Innovative features such as leveraged trading instruments and tokenized stocks

Cons

  • Relatively new platform
  • Some US specific tokens can be missing

67% of all retail investor accounts lose money when trading CFDs with this provider.

5. KuCoin – Best Beginner-friendly Crypto Exchange

 

KuCoin, also known as “the people’s exchange,” was officially launched on September 15, 2017. KuCoin was established to provide a simple and user-friendly crypto exchange to its users. KuCoin is ranked as the fifth biggest crypto exchange because of its trading volume of over $1.3 billion as reported on September 26, 2021. KuCoin is called “The People’s Exchange” mainly since it has a very user-friendly UI and is considered the best for crypto beginners. It is simple and easy to create an account and start trading crypto immediately.

Another major advantage of using KuCoin is that they offer anonymous trading. This means you don’t need to provide your identity or follow KYC procedures to create an account. This is an important advantage as some traders prefer to stay anonymous. Keep in mind though, you will only have transfer limits up to a certain level and you must always comply with your local jurisdiction.

Most investors look for an exchange that has the best security features to ensure the security of their funds. KuCoin exchange has one of the best security features which is evident from the fact that there has been zero incident of hacking reported to this date related to KuCoin.

Therefore, KuCoin is not only a strong crypto exchange candidate for beginners but also it is widely approved among experienced traders with large portfolios due to its attractive features such as strong security and leveraged trading (Mainly 10X margin trading and 100X futures trading). KuCoin also supports approx. 459 cryptos which means you will be able to find most commonly traded crypto assets here.

The only major disadvantage of using KuCoin exchange is due to the high number of users around the world, there may be congestions in the system and the users may face difficulties operating the crypto exchange during high traffic periods.

Pros

  • User friendly, easy to use UI
  • Excellent security features
  • Anonymous trading
  • High number of supported cryptos

Cons

  • Potential difficulties during high traffic periods
  • Issues with liquidity of small cap tokens

67% of all retail investor accounts lose money when trading CFDs with this provider.

How to Find Crypto Exchanges Thailand

Traders and investors in search of the best Bitcoin exchange in Thailand can look for these qualities to find the optimal platform for their needs:

Safety and Trust

Most exchanges today should have state of the art security features which helps to build trust in the processes involved. A trader should look for an exchange that has the optimum security features such as 2FA (Two Factor Authentication) as it will mitigate the risk of losing funds through security or network breach. Detailed research on exchanges and their security features and history of security or network breaches can be helpful to traders.

Payment Options

A trader should also look for an exchange that offers easy payment options as it will reduce the time and effort needed to deposit money into an exchange. Let’s say the trader has chosen an exchange that does not support payments through debit or credit card additional time needed to set up a bank transfer and related waits might result in a lost opportunity.

Fees

After the security features, one of the most common factors most traders usually consider is an exchange’s fee structure. There are numerous exchanges currently operating in Thailand, it is important to look out for an exchange that offers acceptable fee rates for its services. This can be done by researching the top 5 exchanges in Thailand and then comparing their fee structures.

Market

Traders are also encouraged to look for an exchange that has a larger market presence. An exchange with a big market presence usually offers options to trade in a variety of different cryptocurrencies, tokens and even tokenized stocks. If we compare KuCoin with FTX, KuCoin has a larger market since it’s offering approx. 459 coins to trade whereas FTX only supports trading of 261 coins.

Beginner Friendly

Before selecting an exchange, novice crypto traders should look for an exchange that is beginner friendly. It’s a good idea to always check whether both the desktop and mobile apps are available and if they are easy to use.

Customer Service

Adequate customer service is considered crucial for exchange by traders. As multiple issues can arrive during crypto trading as well as during depositing or withdrawing of funds. If a proper and timely response to the issues is not provided by an exchange, it results in a loss of trust and confidence. The feedback on the customer’s service of any exchange in Thailand can be obtained by reading the public reviews or by getting expert opinions from experienced traders.

How to Get Started with the Best Crypto Exchange in Thailand

After you decided on which exchange to proceed with, you can simply open an account in a few minutes and start trading crypto. When KYC is involved, this might add additional couple of minutes to the process but that’s all.

Here is a rundown of the typical process from a fresh start all the way to trading crypto:

Step 1: Open a Crypto Exchange Account

After selecting an exchange in Thailand, the first step is to open an account on that exchange. And for doing that, a few details will be required by the exchange, namely, the trader’s name and email address details. Once these details have been provided and an email is verified, your account will be open and ready to use.

Step 2: Complete KYC

Some exchanges such as Kucoin does not necessarily require traders to submit KYC in Thailand. But it’s a good practice to comply with the laws and also have fewer restrictions when transferring funds. KYC is easy, just provide a government issued ID and a selfie to the automated KYC system and you’ll be done in minutes.

Step 3: Make fiat deposit with USD, GBP, THAI BAHT etc.

After opening an account and completing the KYC process you’ll need to make a fiat deposit using fiat money such as USD, GBP, THAI BAHT etc. Let’s say a trader is holding an account in Thailand’s local bank, he/she can use their credit or debit card to make a deposit into an exchange which will be transferred to the trader’s exchange account.

Step 4: Choose Crypto Trading / Spot Market Options to start trading

After successfully depositing fiat money into an exchange account, the next step is to navigate to the crypto trading, exchange or spot market pages to start trading on an exchange. Wording may differ based on the platform.

Step 5: Buy Crypto in Thailand

Let’s say you deposited THB 50,000 into the exchange, you can then use this money to buy a stable coin such as USDT, or if the exchange allows it, you can directly start trading crypto with Thai Baht. Another common option is of course to convert the funds to BTC.

Conclusion

Since Thailand is considered a crypto-friendly country, it is relatively easy to buy crypto in Thailand. Thailand was among one of the few countries which issued licenses to the cryptocurrency exchanges to promote cryptocurrency trading in the country.

Before selecting an exchange, traders in Thailand are recommended to consider which exchange suits their priorities the best. (Refer this article for some guidance).

From eToro to Kucoin, exchange options are abundant today and traders can easily start trading cryptocurrencies and start taking advantage of this decentralized technology in Thailand. Blockchain technologies are very promising and cryptocurrency trading allows investing in the future of many exciting projects. Since Thailand has realized this early, you won’t have many difficulties trading in this crypto friendly country using global options available as listed in this article.

1
$50Exclusive promotion
Our score10
  • Invest in a wide range of cryptocurrencies
  • Ability to copy more experienced investors and their decisions
  • eToro crypto wallet included which makes it beginner-friendly
0% Commissionstart TradingOur score 10

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About Umut Sagir PRO INVESTOR

Finance and Tech professional. Founder of HolyPython.com. In recent years, Umut helped reputable clients such as MasterCard New York HQ, Deutsche Bank, FluidAI, Danske Commodities, EvoShave and others with cutting-edge technology implementations and financial research.