In Bangladesh, the prevalent approach to acquiring and trading Bitcoin, as well as other cryptocurrencies, involves utilizing digital asset exchanges that comply with Bangladeshi regulations. Investors have the option to deposit Bangladeshi Taka (BDT) through bank transfers, credit cards, or other suitable payment methods, facilitating the lawful acquisition, possession, and trading of cryptocurrencies in accordance with local legal frameworks. While the use of cryptocurrencies is permissible in Bangladesh, it is essential to navigate within the confines of existing restrictions and regulations. The Central Bank of Bangladesh has issued cautionary statements regarding the utilization of cryptocurrencies, expressing concerns related to potential illicit activities such as money laundering and terrorism financing. Despite these cautionary notes, there are still operational exchanges and platforms enabling users to engage in the legal buying, selling, and trading of cryptocurrencies within Bangladesh.
Evaluating the Top 5 Cryptocurrency Exchanges in Bangladesh
We have assessed various crypto exchanges to compile a list of the top 5 crypto platforms accessible in Bangladesh. Continue reading to explore crucial details about the best crypto exchanges for Bangladeshi traders.
Discover the top crypto exchanges in Bangladesh:
- Bitget – Low fees, diverse assets, copy trading.
- MEXC – Diverse Altcoin Range, Peer-to-Peer Trading, Worldwide Accessibility.
- Kraken – Transparency and security, 24/7 platform surveillance
- Bybit – No KYC needed, 100x leverage, 400+ tokens.
- Gate.io – 1700+ tokens, Altcoin focus, innovative periodic trading function.
1. Bitget
Bitget stands out as a versatile cryptocurrency exchange in Bangladesh. Operating with licenses in 180 countries, BitGet ensures full KYC verification to align with AML regulations, providing a user-friendly platform suitable for traders of all experience levels.
One of BitGet’s notable features is its strong commitment to user security, evident in its $400 million security fund and transparent proof of reserves. Boasting an extensive selection of over 500 digital assets, advanced trading functionalities, and competitive fees, BitGet caters to the needs of both active traders and beginners.
Withdrawals come with a modest fixed fee of 0.5€. Additionally, BitGet provides various options for direct cryptocurrency purchases, including Credit/Debit Cards, Google Pay, Apple Pay, and third-party providers.
If you want to learn more about the platform, you can read our full BitGet review.
Spot Fees: 0.1% maker / 0.1% taker
Futures Fees: 0.02% maker / 0.06% taker
Supported Cryptos: 500+
Futures Contracts: 240+
BDT Payments: Crypto purchases via Credit/Debit card, Google Pay, Apple Pay, and more
Customer Support: 24/7 live chat support
Bitget Pros and Cons
| 👍 Bitget Pros | 👎 Bitget Cons |
|---|---|
| ✅ Low trading fees | ❌ Highly advanced for beginners |
| ✅ User-friendly interface | ❌ Not available in the United States |
| ✅ Passive income products | |
| ✅ Over 500 cryptocurrencies | |
| ✅ Copy Trading | |
| ✅ Full Proof of reserves |
2. MEXC
MEXC positions itself as an exceptionally versatile cryptocurrency exchange in Bangladesh, granting users access to a broad spectrum of cryptocurrencies. Noteworthy for its minimal trading fees and an extensive selection of over 2000 trading pairs, MEXC emerges as the preferred choice for those keen on exploring the diverse landscape of altcoins.
A distinctive feature of MEXC is its non-facilitation of fiat exchange or withdrawals. This implies that traders are confined to acquiring coins exclusively with Bangladeshi Taka, and for cashing out, they might need to explore the use of a P2P network.
Despite this constraint, MEXC compensates by offering a comprehensive suite of services, encompassing margin trading, EFT indices, and a futures market, ensuring a diverse trading experience. Furthermore, the exchange extends beyond traditional offerings by supporting various fan tokens and regularly organizing engaging sports betting campaigns, adding an extra layer of excitement for its user base. With nearly 7 million users from 200 different countries and a trading volume of 2.7 billion, MEXC stands out as one of the most favored exchanges in Bangladesh.
If you want to learn more about the platform, you can read our full MEXC review.
Spot Fees: 0.1% flat
Futures Fees: 0% maker / 0.02% taker
Supported Cryptos: 1600+
Futures Contracts: 400+
BDT Payments: Bank transfer, P2P
Customer Support: Multi-language customer support 24/7
MEXC Pros and Cons
| 👍 MEXC Pros | 👎 MEXC Cons |
|---|---|
| ✅ 1700+ Cryptos | ❌ No NFT Market |
| ✅ Copy Trading | ❌ Lacks passive income products |
| ✅ Up to 200x Leverage | ❌ No Fiat Deposits/Withdrawals |
| ✅ Very User Friendly |
3. Kraken
Kraken is globally renowned for its unwavering commitment to transparency and security. The exchange employs robust security protocols, including two-factor authentication, adherence to regulations across more than 190 countries, withdrawal whitelist functionality, and continuous 24/7 platform monitoring, establishing a high level of trust among users. Kraken’s dedication to transparency is evident in its fee structures and regular audits, earning accolades from its user community. The platform consistently presents audited proof of reserves, ensuring customers that their assets are consistently held at a 1:1 ratio on the platform. This emphasis on transparency and security is designed to instill confidence and peace of mind among Kraken’s clientele.
Kraken positions itself as a versatile and budget-friendly platform, catering to a diverse range of cryptocurrency traders in Bangladesh, from beginners to seasoned experts. Its standout feature is its competitive pricing, notably visible on Kraken Pro and in the futures markets. However, it’s essential to note that the interface complexity of Kraken Pro might pose a learning curve for newcomers. For those prioritizing simplicity, exploring alternative options becomes essential. With support in over 190 countries, a user base exceeding 10 million, and a quarterly trading volume surpassing 207 billion, Kraken distinguishes itself for its versatility, accommodating both small and large-scale investors in Bangladesh.
If you want to learn more about the platform, you can read our full Kraken review.
Spot Fees: 0.16% maker, 0.26% taker
Futures Fees: 0.02% maker, 0.05% taker
Supported Cryptos: 190+
Futures Contracts: 500+
BDT Payments: apple or google pay, Wire transfer, credit card
Customer Support: 24/7 Support
Kraken Pros and Cons
| 👍 Kraken Pros | 👎 Kraken Cons |
|---|---|
| ✅ User-friendly interface | ❌ Slow account funding process |
| ✅ Offers advanced trading features | ❌ Costly hacks with limited support |
| ✅ Low fees for advanced traders | ❌ Higher transaction fees on the main platform compared to Kraken Pro |
4. Bybit
Bybit stands as a leading cryptocurrency exchange, placing a strong emphasis on derivatives trading. With its legal operations spanning across 180 countries, Bybit enforces comprehensive KYC verification to ensure compliance with anti-money laundering (AML) regulations. The registration and KYC process have been streamlined, ensuring accessibility for traders of all experience levels, whether they are newcomers or seasoned professionals.
One of Bybit’s key priorities is transparency, demonstrated by the public disclosure of its proof of reserves, providing users with the assurance of a 1:1 backing of all their funds. Additionally, the platform boasts a substantial $400 million security fund, enhancing user protection against potential third-party attacks.
Offering an extensive array of over 500 digital assets, advanced trading features, competitive fees, and high leverage options reaching up to 125x, Bybit effectively caters to the diverse needs of active traders. The user-friendly interface further contributes to its broad appeal, accommodating both beginners and experienced traders in Bangladesh.
If you want to learn more about the platform, you can read our full Bybit review.
Spot Fees: 0.1% maker / 0.1% taker
Futures Fees: 0.02% maker / 0.055% taker
Supported Cryptos: 430+
Futures Contracts: 240+
BDT Payments: P2P mainly, credit card
Customer Support: 24/7 live chat support
Bybit Pros and Cons
| 👍 Bybit Pros | 👎 Bybit Cons |
|---|---|
| ✅ Low trading fees | ❌ Highly advanced for beginners |
| ✅ Many options to fund the account | ❌ Fiat withdrawals only via P2P |
| ✅ User-friendly interface | |
| ✅ Over 400 cryptocurrencies | |
| ✅ Copy Trading | |
| ✅ Full Proof of reserves |
5. Gate.io
Gate.io emerges as a premier platform for altcoin trading, distinguished by its extensive offering of over 1700 cryptocurrencies. This vast selection positions it as a top choice for digital asset diversity, encompassing the trading of the top thousand tokens. Gate.io is recognized for its spot trading and futures trading services, along with an innovative periodic trading function.
The exchange goes beyond traditional offerings by providing a wide range of DeFi products, a robust IEO platform, and yield farming capabilities. These features empower users to diversify their investment portfolios effectively. Gate.io’s comprehensive suite of tools and functionalities has garnered significant attention from Bangladeshi traders, particularly those eager to explore the dynamic altcoin market.
If you want to learn more about the platform, you can read our full Gate.io review.
Spot Fees: 0 deposit fees and 0.1% for spot trading.
Futures Fees: 0.015% for makers and 0.05% for takers
Supported Cryptos: 1700+
Futures Contracts: 400+
BDT Payments: P2P mainly
Customer Support: 24/7 support
Gate.io Pros and Cons
| 👍 Gate.io Pros | 👎 Gate.io Cons |
|---|---|
| ✅ Over 1700 cryptos to trade | ❌ No FIAT withdrawals |
| ✅ Low trading fees | ❌ KYC required |
| ✅ Great trading interface | |
| ✅ Dedicated spot and futures market |
Is Crypto Legal in Bangladesh?
Bangladesh Bank maintains its stance of not recognizing cryptocurrency as legal tender, affirming that ownership or transaction of digital currencies is not deemed criminal. The central bank’s position, outlined in response to a CID inquiry, acknowledges the lack of official recognition for cryptocurrency but emphasizes that it is not considered illegal. While Bangladesh Bank has not allowed transactions or reserves in private currencies, transactions involving virtual currencies could be treated as crimes under specific acts. Despite ongoing arrests related to cryptocurrency, the regulatory landscape in Bangladesh is cautious, emphasizing potential legal consequences for virtual currency transactions.
How to Buy Crypto in Bangladesh
For Bangladeshi investors aiming to venture into the crypto market using Bangladeshi Taka (BDT), follow these steps:
- Choose a reputable exchange: Opt for platforms that adhere to Bangladeshi regulations and have a credible reputation in the cryptocurrency sphere
- Set up and authenticate your account: Register using your email, create a password, and complete the KYC (Know Your Customer) process by submitting identification and proof of address documents.
- Deposit funds in BDT or USD: Fund your account with BDT or USD through bank transfers or other authorized payment methods like P2P.
- Acquire cryptocurrency: Choose the cryptocurrency you want to purchase, specify the amount, and confirm the transaction.
- Safeguard your investments: Enhance the security of your cryptocurrencies by transferring them to a personal wallet.
Final Thoughts
In Bangladesh, cryptocurrency is not recognized as legal currency by the central bank, but ownership or transactions involving digital currency are not considered criminal activities. The Foreign Exchange Policy Department of the central bank clarified that while cryptocurrency transactions are not officially recognized, they are not deemed illegal. However, such transactions could potentially be classified as crimes in accordance with existing laws.
For Bangladeshi investors, Bitget stands out as a well-rounded cryptocurrency exchange operating legally in 180 countries. With a straightforward registration process and full KYC verification, Bitget prioritizes user security and transparency. The platform offers a diverse selection of over 500 digital assets, advanced trading features, and competitive fees.
