In Thailand, the purchase of Bitcoin and other cryptocurrencies is well-regulated by the Thai SEC and Ministry of Finance, ensuring a secure environment for investors. Various methods, including local bank transfers and credit cards, allow users to deposit Thai Baht (THB) for crypto trading. Our evaluation considered compliance with the Thai SEC guidelines, digital currency variety, user-friendly interfaces, THB deposit options, and transaction costs. As a result, we proudly present a curated list of the top five platforms in Thailand, providing a comprehensive overview for investors in the country.
Evaluating the Top 5 Cryptocurrency Exchanges in Thailand
Assessing different cryptocurrency exchanges to curate a list of the top 5 platforms accessible in Thailand. Keep reading to discover essential details about the best cryptocurrency exchanges for Thai traders.
Discover the top crypto exchanges in Thailand:
- Bybit – Low fees, 100x leverage, 600+ tokens.
- BingX – No KYC, 500+ supported cryptos, low fees, stocks, forex, commodities.
- BitKub – Thai Exchange, Fully regulated by Thai SEC, Local payments.
- OKX – Robust security measures, KYC requirements, wide array of cryptocurrencies.
- MEXC – No KYC, Extensive Altcoin Selection, Lowest fees.
1. Bybit
Bybit emerges as a key player in Thailand’s cryptocurrency landscape, offering a wide range of deposit methods in THB for activities such as buying, selling, holding, and trading a portfolio of 770+ digital assets. Operating globally and supporting multiple languages, Bybit is recognized for its comprehensive cryptocurrency services, allowing users in Thailand to diversify their investment portfolios.
Notable features of Bybit include its user-friendly interface, strong security measures, and substantial liquidity. The platform distinguishes itself with advanced trading functionalities, including futures and leverage trading, providing opportunities for investors to maximize profits. Bybit’s commitment to customer support, available 24/7 through live chat and educational resources, reinforces its standing as a leading exchange. Transparency is a priority, evident in the public sharing of proof of reserves, ensuring a 1:1 backing of user funds. Additionally, Bybit maintains a significant $400 million security fund, enhancing protection against potential third-party attacks.
With a diverse selection of over 500 digital assets, advanced trading tools, competitive fees, and high leverage options (up to 125x), Bybit caters to both novice and experienced traders in Thailand. Its user-friendly interface accommodates users across various levels of trading expertise, and a remarkable trading volume of nearly 6.5 billion solidifies Bybit’s position as a formidable player in the global cryptocurrency exchange landscape.
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+
THB 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 | |
| ✅ Passive income products | |
| ✅ Over 400 cryptocurrencies | |
| ✅ Copy Trading | |
| ✅ Full Proof of reserves |
2. BingX
BingX emerges as a resilient cryptocurrency exchange and trading platform specifically designed for beginners seeking a user-friendly experience. With a user base surpassing 5 million, it stands out with competitive trading fees and a reputation for reliable operations. BingX introduces flexibility and a P2P market, catering to users in Thailand and supporting the use of local currency for peer-to-peer cryptocurrency transactions.
The platform offers a variety of trading options, including spot trading, futures, copy trading, and grid trading through bots, providing access to a diverse range of over 500 cryptocurrencies. While BingX lacks certain features such as staking and fiat transaction support, its variable trading fees, dependent on the cryptocurrency and trading format, contribute to its distinctiveness.
BingX boasts a sleek interface, new user incentives, and over 800 tradable assets, including cryptos, stocks, forex, and commodities. With a trading volume exceeding 4.2 billion, BingX has solidified its position as one of the most popular and widely used platforms in the region.
If you want to learn more about the platform, you can read our full BingX review.
Spot Fees: 0.1% maker/taker
Futures Fees: 0.02% maker, 0.05% taker
Supported Cryptos: 520+
THB Payments: Credit card mainly
Customer Support: 24/7 Support
BingX Pros and Cons
| 👍 BingX Pros | 👎 BingX Cons |
|---|---|
| ✅ Minimal & Friendly UI | ❌ Lacks Staking |
| ✅ New User Rewards | ❌ Needs Fiat Currency Support |
| ✅ Diverse Trading Instruments | |
| ✅ Copy Trading |
3. Bitkub
Bitkub proudly stands as Thailand’s foremost homegrown cryptocurrency exchange. Bolstered by legal recognition from the Thai SEC, Bitkub stands as a paragon of credibility, offering users an unmatched sense of security. Showcasing an unwavering commitment to user safety, Bitkub employs cutting-edge security measures, including robust wallet storage and Two-Factor Authentication, ensuring constant protection for user assets.
Distinguished for its expansive cryptocurrency portfolio, Bitkub dominates the Thai market with an impressive array of 70 digital assets available for trading. This diverse selection not only caters to seasoned traders but also establishes Bitkub as the go-to choice for newcomers venturing into the crypto realm. Rooted in local origins and characterized by its extensive offerings, Bitkub rightfully solidifies its position as the third-best cryptocurrency exchange in Thailand.
Spot Fees: 0.25%
Supported Cryptos: 70+
THB Payments: Bank transfer
Customer Support: Customer support 24/7
Bitkub Pros and Cons
| 👍 Bitkub Pros | 👎 Bitkub Cons |
|---|---|
| ✅ 24/7 local support | ❌ Withdrawal fees |
| ✅ Fully regulated in Thailand | ❌ Few cryptocurrencies to trade |
| ✅ Great Mobile app | |
| ✅ Referral Program with High Rewards |
4. OKX
OKX, headquartered in Hong Kong with a clientele surpassing 10 million users, stands out as a prominent cryptocurrency exchange catering to Thai investors. Offering a wide array of digital currencies for buying, selling, trading, and staking, complemented by competitive fees and tight spreads, OKX enhances its appeal. Beyond standard functionalities, OKX has carved a niche with advanced features like futures trading, options trading, and an enticing NFT market.
A distinctive trait for Thai investors is the alluring APY of stablecoins, reaching up to 5%, providing a splendid avenue for enhanced profitability in Thailand. Backed by top-tier sports entities like Manchester City and McLaren Formula 1, OKX has solidified its status as a credible and renowned name in the crypto sphere. It remains a favorite and has risen to become the second-best cryptocurrency exchange in Thailand.
If you want to learn more about the platform, you can read our full OKX review.
Spot Fees: Flat 0.1% fee for instant spot trading
Futures Fees: 0.02% for makers and 0.05% for takers
Supported Cryptos: 300+
THB Payments: Bank Transfers Mainly, credit card
Customer Support: 24/7 help center and Mail
OKX Pros and Cons
| 👍 OKX Pros | 👎 OKX Cons |
|---|---|
| ✅ Wide Cryptocurrency Range | ❌ KYC Needed |
| ✅ Robust Security | ❌ Variable Regulatory Compliance |
| ✅ High Liquidity | |
| ✅ OKX provides advanced trading features |
5. MEXC
MEXC, founded in 2018 and based in Victoria, Seychelles, is a cryptocurrency exchange platform that prioritizes safety, reliability, and user-friendliness. Operating in over 170 countries, MEXC Global aims to provide a secure trading experience for users worldwide, offering a diverse range of cryptocurrencies, including Bitcoin and Ethereum.
The platform caters to various needs within the cryptocurrency community, providing spot trading, margin trading, futures, staking, and other services. MEXC Global has gained popularity for its extensive cryptocurrency options and advanced trading features. With over 1600 supported cryptocurrencies, multiple deposit methods, and a focus on security and regulatory compliance, MEXC serves users from diverse backgrounds.
In the context of Thailand, MEXC establishes itself as a prominent cryptocurrency exchange, offering a wide range of digital assets. With competitive fees and support for over 1600 cryptocurrencies, MEXC becomes the preferred choice for those interested in exploring the world of altcoins. Notable features include a restriction on fiat exchange or withdrawals, pushing traders to acquire coins exclusively with US dollars, and additional services like margin trading, EFT indices, and a futures market. MEXC’s support for fan tokens and engaging sports betting campaigns adds an extra layer of excitement for its user base in Thailand. Boasting nearly 7 million users globally and a trading volume of 2.7 billion, MEXC emerges as a highly favored exchange in the Thai cryptocurrency landscape.
If you want to learn more about the platform, you can read our full MEXC review.
Spot Fees: 0%
Futures Fees: 0% maker / 0.01% taker
Supported Cryptos: 1600+
THB 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 |
Is Crypto Legal in Thailand?
Crypto trading is fully legal in Thailand, with the government actively regulating the market through the Securities and Exchange Commission (SEC). The SEC has established stringent regulations, mandating digital asset exchanges to obtain licenses for legal operations. Compliance involves adherence to strict guidelines, focusing on customer safety and market stability. Anti-money laundering and anti-terrorism financing measures are integral, requiring exchanges to report any suspicious activities to authorities. Thailand imposes taxes on cryptocurrencies, with specific laws dictating tax obligations for traders. Generally, gains from buying and selling digital assets are considered capital gains, subject to personal income tax. Additional taxes, such as value-added tax (VAT) or business tax, may also apply. Thai cryptocurrency investors must be well-versed in applicable tax laws to ensure compliance.
How to Buy Crypto in Thailand
For those new to crypto and looking to invest in digital assets in Thailand, here’s a straightforward guide to ensure safe and legal transactions in line with the Thai Securities and Exchange Commission (SEC):
- Choose a reputable exchange: Opt for a platform that aligns with Thai regulatory standards, as outlined in our comprehensive guide.
- Register: Sign up using your email, set a strong password, and complete KYC procedures if required.
- Deposit THB: Load funds into your account through local bank transfers, debit/credit cards, or e-wallets.
- Purchase crypto: Select your desired coin or token, specify the amount, and confirm the purchase.
- Secure your assets: Enhance the security of your digital assets by transferring them to a crypto wallet.
By following these steps and selecting a trustworthy exchange, you can confidently and securely acquire cryptocurrencies in Thailand.
Final Thoughts
Participating in cryptocurrency trading and investment in Thailand is not only legally sanctioned but also subject to systematic regulation, providing assurance for both inexperienced and seasoned traders navigating the crypto landscape. Oversight by the Thai SEC and Ministry of Finance plays a pivotal role in maintaining the integrity of the crypto ecosystem.
For those venturing into this dynamic market, Bybit stands out prominently in 2023 as the most reliable and user-friendly platform. Prioritizing Bybit ensures adherence to Thai regulatory standards, and its distinguished features make it a preferred choice for traders seeking a secure and robust environment for cryptocurrency endeavors.
It is imperative to maintain a keen awareness of the pertinent tax implications associated with crypto trading in Thailand. Whether you’re an experienced trader or just embarking on your crypto journey, Thailand offers a secure and resilient environment for your cryptocurrency endeavors, particularly with the distinctive strengths and attributes offered by Bybit.
