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

Fact Checked by Gary McFarlane

When it comes to jumping into the crypto space, choosing the best crypto exchange in Vietnam is the most appropriate place to begin. Choosing the correct exchange to purchase Bitcoin (BTC) will ensure you buy safely and utilise the perks of individual exchanges.

In this Best Crypto Exchange in Vietnam guide, we will journey through the specific exchanges available to all those interested in buying Bitcoin safely. Here we discuss the pros and cons of multiple exchanges and provide full in-depth reviews of what each offers interested investors.

#1 Crypto Exchange Vietnam – eToro

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  • 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

Best Crypto Exchange Vietnam – Top 5 List

Which is the best crypto exchange in Vietnam? We created a list of the most popular crypto exchanges that are available to crypto buyers and traders in Vietnam.

  • eToro – Overall Best Crypto Exchange Vietnam
  • Gate.io – Best Crypto Exchange for Coin Selection
  • Kraken – Best Exchange for Privacy in Vietnam
  • BitFinex – Best Vietnam Crypto Exchange for Advanced Features
  • OKEx – Best Exchange for Low Fees

Our carefully prepared review is based on rigorous online research and we hope that it will provide lots of useful tips for navigating the best cryptocurrency exchanges available in Vietnam today.

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

Best Crypto Exchanges in Vietnam

1. eToro – Overall Best Crypto Exchange in Vietnam

Etoro was founded in 2007 and has since been operating without fail in more than 140 countries including Vietnam. Etoro is incredibly reliable and secure. They have licenses and regulatory approvals from the central financial authorities of the US, Australia, Cyprus and the United Kingdom. Approval by the UK’s FCA particularly adds a lot of weight to eToro’s credibility as they have some of the strictest set of regulations.

To create an account and start trading on eToro, all you need is a minimum of 250$. They also offer digital wallet services (eToro wallet) to store your cryptocurrency offline. Furthermore, the availability of a mobile app for iOS and Android users makes it easy for you to keep tabs on your transactions even when you are away from your desk.

Trading fees charged by eToro vary for different cryptocurrencies, but most trades have a fee of 0.75%-2.9%. eToro charges trading fees through wider than usual spreads during both buying and selling orders, this is their way of charging trading fees. The best feature of eToro crypto exchange, however, is their innovative trading platform called CopyTrader.

As the name suggests, CopyTrader lets you copy the moves of different successful traders in the market. Hence, if you are a newbie in the cryptocurrency market, you can begin by mimicking the exact results of traders who are already crushing it on the platform with just a single click.

The CopyTrader platform also has an innovative community where tips and tricks are shared, so, you can also enhance your knowledge on the topic. If you are already successful, you could allow other profiles to mimic your moves and you can also take promising commissions for your shared information.

However, CopyTrader feature can be problematic if you copy other traders without doing your research. If you are a beginner trader, you might end up following the moves of traders who are just lucky at the moment and end up losing money in the long term, so be cautious when using the copy feature.

Conclusively, eToro is a true gem for trading enthusiasts. They let you start with small amounts of deposits and gain trading experience before moving to larger amounts.

Pros

  • Zero fees on deposits
  • Advanced trading and charting tools
  • Strongs mobile apps both for iOS and Android
  • 24/7 available customer service
  • Licenses from regulatory bodies

Cons

  • CopyTrader feature can be misleading if you don’t know what you are doing
  • Spreads can be wider than usual since there are no trading fees

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

2. Gate.io – Best Crypto Exchange for Coin Selection

Gate.io is also one of the experienced players on the crypto exchange scene, operating from China since 2013. They are famous for the availability of altcoins. You can trade 1950 crypto pairs and more than 900 different coins on Gate.io. If there is a trending cryptocurrency, you will likely find it on Gate.io.

Gate.io is branded as one of the top exchanges in terms of cyber security with multiple in-built security mechanisms like Two Factor Authentication, an additional password for withdrawal of funds and anti-phishing code.

The most attractive features of Gate.io are their low fees and amazing loyalty discounts, such as an appealing 50% off on trading fees for a volume of 5000 units per month. They don’t charge any fees for deposits, a small 0.2% fee for margin and spot trading and a small percentage fee for withdrawals depending on the cryptocurrency being withdrawn.

Gate.io has a decent and reliable customer support system in place with 24/7 live chat available to all customers who would like to get in touch through web, or smartphone apps; iOS and Android.
We don’t recommend Gate.io to newbies that prefer a simple cryptocurrency exchange to navigate since fiat deposits can be tedious, massive coin selection can be confusing and clustered UI can be distracting.

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 and regulated by the FSA
  • It allows the users to make deposits and withdrawals
  • It allows the traders to use MetaTrader as a trading platform, which provides advanced analytics and trading features.
  • The presence of the demo funds helps the users to feel acclimated to the platform.

Cons

  • They have no phone support available
  • They charge deposit fees, unlike other trading platforms
  • It can be a confusing experience especially for beginners

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

3. Kraken – Best Exchange for Privacy in Vietnam

Kraken boasts the status of being the world’s largest and one of the oldest bitcoin exchanges. They came into existence in 2011, a couple of years after Bitcoin was invented in 2009. Kraken also offers a vast selection of cryptocurrencies.

The best feature of Kraken is the strong security protocols that make it difficult for the Vietnamese government or ISPs to sniff your trading activity for surveillance reasons. Kraken ranks first with a perfect score on CER, which is the most authentic cybersecurity and certification platform for cryptocurrencies. Kraken has never been hacked and encrypts all your sensitive contact information in its system. Think of it as the encrypted Signal IM app for your crypto exchange where only you and the recipient know about the activity.

Kraken has an easy verification process that can be completed in a few minutes. Tier-based verification processes in place allow more liberty on the platform and increased activity limits. Think of Kraken as an ideal mix of account security and accessibility option.

Like eToro, Kraken gives its users access to educational videos and podcasts on the topic of cryptocurrencies. The platform is proud of the global support it provides which is very nice.

Kraken charges are dependent on multiple factors such as:

  • Whether you are a maker or taker in the market
  • Currency pairs you are exchanging
  • Your trading volume for the past 30 days.

Pros

  • Excellent security with a perfect score on CER. Encryption of sensitive information
  • Easy verification process that can be completed in a few minutes
  • Global support including Vietnam
  • Access to educational videos and podcasts on cryptocurrencies for the members

Cons

  • Customer support can be lagging

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

4. BitFinex – Best Crypto Exchange for Advanced Features

Bitfinex offers some of the most liquid crypto order books in the world, which makes it an ideal platform for advanced traders with larger volumes.

They have a reasonable fee structure starting from 0.2% for takers and going to zero for makers with large OTC orders. Cryptocurrency deposits on Bitfinex are free except for bank wires which have a 0.1% deposit and withdrawal fee. Withdrawals are cheap depending on your currency but can climb up to 1% in special cases for example, if you need an expedited withdrawal.

Bitfinex’s platform interface is also advanced and customizable according to your needs. You get access to advanced charting functionalities and API access which make it more popular among seasoned traders.

Their peer-to-peer (P2P) margin trading platform allows you to borrow and trade with a leverage of 3.3x. The terms for borrowing such as amount, duration and interest rate can be determined automatically by Bitfinex or manually by the advanced traders themselves. As for lenders, it is quite easy to lend funds securely across a wide range of currencies and assets on the platform earn interest based on their values.

Bitfinex’s troubled hacking history goes against the many pros it has. Bitfinex has been hacked a total of 3 times since its inception. With the April 2016 hacking, a massive amount of 120,000 Bitcoins have vanished from accounts, proving this to be the second-largest Bitcoin theft in history. Not a good badge to wear!

Furthermore, in 2017, Bitfinex operations were frozen by Wells Fargo, their correspondent bank in the US. BitFinex is still among the best and pulls gigantic crypto trading volumes each and every day. Yet, its history as an exchange isn’t so clean.

Pros

  • High liquidity
  • Favourably low deposit and withdrawal fees
  • Bitfinex’s trading platform interface is advanced and customizable, ideal for sophisticated traders
  • Borrowing limits up to 3.3x leverage through the site’s P2P margin trading platform

Cons

  • History with security issues and hacking incidents
  • Features and navigation can be confusing for newbies

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

5. OKEx – Best Crypto Exchange for Low Fees

OKEx is one of the largest international cryptocurrency exchanges in the world as stated on CoinMarketCap. Situated in Hong Kong since 2014, they have a longstanding history of cryptocurrency exchange operations and a daily turnover of a staggering $1.5 billion from Bitcoin futures trading only.

The biggest feather in OKEx’s cap is their low trading fees. The fees are based on percentiles based on your last 30-day trading volume average. Even on the higher ends, fees do not exceed 0.15% for makers and 0.2% for takers. For bulk transactions, this drops all the way to 0.02% and 0.05% for makers and takers respectively. This feature can make OKEx attractive to institutional clients.

OKEx’s security precautions seem decent and distributed server clusters and cold storage with multi-signature wallets suggest advanced security measures are in place for investors dealing on OKEx.

Pros

  • Rock bottom trading fees and low exchange rates in the cryptocurrency markets
  • Decent security measures in place
  • Quality mobile app for Android and iOS
  • Focus on Asian markets can be beneficial for Vietnamese traders

Cons

  • Customer support can be on the slow side

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

How to Find Crypto Exchanges Vietnam

When you’re looking for the best exchange in Vietnam, it’s a good idea to focus your research on the important topics both from cryptocurrency and trading aspects. Here are the major areas we believe a great cryptocurrency exchange platform should successfully cover:

Safety and Trust

Regardless of your location, blockchain technology encrypts your digital funds in a way that no hacker has been able to tamper to date. While public ledger is visible to the whole world any bad actor needs to have the password or keys to be able to make transactions through your funds. As long as you’re careful not to share your password or recovery key with anyone and keep your computer secure your funds should be safe on the blockchain.

Additionally, the law in Vietnam doesn’t ban the purchase of crypto but bans its usage as a currency in the exchange of goods and services. In addition, as part of a broader economic upheaval, the new law is expected to tax Bitcoin assets in Vietnam, and you must pay what you are owed.

Payment Options: Bitcoin and other cryptocurrencies are also available to purchase in Vietnam via online exchanges, peer-to-peer (P2P) exchanges, and Bitcoin ATMs. Each option comes with its list of pros and cons, and first-time cryptocurrency buyers must decide on how to engage with the Bitcoin community. Although P2P exchanges have some global popularity, crypto exchanges provide a very convenient and efficient experience when it comes to trading crypto.

As per Coin ATM Radar, there are eight Bitcoin ATMs that can be used throughout the country of Vietnam. All of them are in Ho Chi Minh City, a flourishing entrepreneurial city. The key characteristics are the same for these bitcoin ATMs, but it can be essential to research the cryptocurrencies they support and the fees they charge as well as the hours of operation before visiting these ATMs.

Fees: Investors can make many transactions through a cryptocurrency exchange, every one of these exchanges has its own fee structure. The prices for crypto transactions vary, but most cryptocurrency exchanges cost between 0.1% to 0.5% for each transaction. It means that if your order of $1,000 gets filled, you might have to pay between $1 to $5 on trading fees.

Market: Learning how to find suitable cryptocurrency exchanges for your strategy can be critical to your success as a trader. Most of the time, the problem is that most investors don’t understand where to begin their search. Among the different factors listed here, “composition of the market” is a very important one. There are significant factors to consider when selecting an exchange from a market perspective, these are liquidity and coin selection.

Liquid markets mean you won’t have difficulty instantly buying and selling and there will usually be a fair price for your asset. A rich coin selection means you will be able to participate in the trading of a variety of coins and tokens including the newcomers to the market. These new coins can be risky but sometimes they also offer the best opportunities.

Beginner Friendly: The prices of cryptocurrencies can be volatile. This makes them excellent speculation opportunities for investors to earn money from trading activities. The disadvantage of trading cryptocurrency for some investors can be the learning curve and the tech terminology required. By going with the popular exchange options included in this article you will ensure having a smooth onboarding experience.

When purchasing crypto from an exchange, you have a range of choices available in Vietnam. For example, there are specific crypto exchanges, such as VBTC, that are locally specialized in orders with Vietnam Dong and there are also various global platforms like eToro, Kraken or Coinbase that can be used.

Customer Service: If you’re looking at various options before joining an online trading platform, you may consider eToro that focuses on trading cryptocurrencies. Since eToro is an established brokerage firm with strong customer support and resources to help people make their first bitcoin purchases, we believe this platform is a great option for beginners and traders seeking more sophisticated strategies alike.

How to Get Started with the Best Crypto Exchange in Vietnam

Once you have chosen the crypto exchange that best suits your needs, the next step will be to sign up with a new account and getting started with that account. Procedures are very simple these days. Here are the key steps before you can start trading crypto:

Step 1: Open an Account on the Cryptocurrency Exchange

This step is very simple. It’s just like the sign-up process for any web service. You will be required to register your account with your email and password and verify the mail which you will receive.

Step 2: Complete KYC

KYC (Know Your Customer) is the name given to customers’ verification process to verify their identity and then link it to the cryptocurrency wallet. The earlier you finish the KYC, the faster you’ll be able to complete transactions and withdrawals in cryptocurrency.

When you open an account on a cryptocurrency exchange, usually, you’ll be required to complete the know-your-customer (KYC) procedure. It’s a standard form of identity verification that will ask you for a selfie, a government issue ID and sometimes a utility bill that comes to your registered address.

Step 3: Make fiat deposit with USD, EUR or Vietnam Dong

To make a fiat deposit, you need to visit the exchange and select ‘deposit’. Often you can choose global currencies such as ‘USD’, ‘AUD’, ‘GBP’, SGD, ‘HKD’ and ‘CAD’ or any local fiat currency such as Vietnam Dong. This selection mostly depends on the currency you use with your bank account.

You will be provided with all of the instructions on the platform regarding different options. If you’re mandated by the directions to use a memo, you must use the memo, or you might have problems such as lost funds or delayed transfers. Common fiat deposit options are direct bank transfers, Paypal payments and debit/credit card transactions.

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

Once you have fiat currency in your crypto account, you can simply click on the appropriate section on the exchange website to start trading crypto. Commonly this section will be named: “Trading”, “Buy Crypto”, “Crypto Spot Market” or “Crypto Exchange”.

Step 5: Buy Crypto in Vietnam

After depositing fiat to your account, you will usually be a couple of clicks away from purchasing cryptocurrencies. For example, if you deposit 25 million Vietnamese Dongs this amount equals approximately $1,000. You can directly buy 0.025 BTC using these funds in September 2021.

Conclusion

In this article, we took a look at the best crypto exchanges in Vietnam and focused on each of their pros and cons. We also learned various processes regarding purchasing cryptocurrencies and answered questions such as “How to open a crypto exchange account”, “How to complete the KYC process”, “How to buy cryptocurrencies in Vietnam”.

Since Vietnam adopted a more friendly approach to blockchain technology back in 2019, an enormous amount of individual and institutional users started showing interest in the acquisition of new cryptocurrencies. Whether it’s the new tokens or the old blue-chip crypto assets such as BTC and ETH, you can conveniently refer to this guidance and start placing your crypto orders on the best cryptocurrency exchanges in Vietnam.

#1 Crypto Exchange Vietnam – eToro

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.