Bitcoin trading volumes and interest, in general, continue to rise year on year in Thailand. If you’re looking to gain exposure to Bitcoin and other cryptocurrencies for the first time – this beginner’s guide is you for.
In this guide, we cover how to buy Bitcoin in Thailand – and which crypto exchanges to consider, whether you’re a Thai citizen or an expat in Bangkok, Phuket, Chiang Mai, and across the land of smiles.
Where to Buy Bitcoin in Thailand – Top Platforms
Many crypto exchanges in Thailand allow you to buy Bitcoin online. In choosing the right provider for you, consider what fees the exchange charges and what minimum deposit you will need to make to get started.
Other important metrics to explore include trading tools, wallet safety, regulation, and accepted payment methods. In the sections below, we cover where to buy Bitcoin in Thailand today in the best way possible.
1. Crypto.com – Top Crypto App to Buy Bitcoin and Earn Interest
Crypto.com offers one of the best crypto apps to buy Bitcoin in Thailand. At the click of a few buttons, you can invest in Bitcoin instantly via your Visa or MasterCard. Crypto.com will charge you 2.99% of the investment amount.
However, Crypto.com is still worth considering as the platform offers a wide variety of core benefits. First and foremost, the Crypto.com app is home to more than 250 different altcoins. This will suit those of you who are thinking about investing in digital currencies other than just Bitcoin.
Another benefit of using the Crypto.com app is that you can earn interest on your Bitcoin investments. The highest rate available on Bitcoin is 6% and this will require you to stake CRO tokens and lock your funds for three months. If you prefer more favorable lock-up terms with no CRO staking, flexible Bitcoin accounts on this platform pay 0.5%.
Either way, this is a great way to generate income on your Bitcoin tokens that would otherwise be sat idle in a private wallet. While we are on the discussion of storage, Crypto.com allows you to store your tokens within its web wallet. In choosing this option, the vast majority of your Bitcoin tokens will be kept offline at all times in cold storage.
Alternatively, if you want full control over both your Bitcoin and private keys, consider the Crypto.com DeFi Wallet. This is a decentralized wallet app that also gives you access to trading and interest-bearing services. Finally, Crypto.com offers an NFT marketplace and even a crypto credit card that is issued by Visa.
Cryptoassets are a highly volatile unregulated investment product.
2. Coinbase – High-Fee Bitcoin Exchange But Great for Beginners
Although Coinbase charges high fees, it is still one of the most popular crypto exchanges globally. Across more than 98 million customers, Coinbase offers more than 150 digital currencies that you can buy instantly with a debit or credit card. When buying Bitcoin in this manner, expect to pay nearly 4% in commission.
This means that you will lose almost 40 baht for every 1,000 baht worth of Bitcoin that you buy. Nonetheless, Coinbase is still worth considering if you are looking for a safe and easy way to buy Bitcoin in Thailand. 98% of your Bitcoin tokens will be kept offline at all times via cold storage wallets.
This is in addition to mandatory 2FA (two-factor authentication) and extra security controls when you log into your Coinbase account with a new IP address. You can also buy Bitcoin in Thailand via the Coinbase app. This is free to download on both iOS and Android – and the app doubles up as a wallet.
Coinbase also offers a decentralized mobile wallet that allows you to control your own private keys. Another popular feature at Coinbase is its newly launched NFT marketplace. This allows you to invest in up-and-coming NFT launches from the comfort of home – and you can pay for your chosen non-fungible token with a debit/credit card.
If you decide to use Coinbase to trade digital currencies, then do note that the standard commission amounts to 1.49%. Interestingly, if you elect to use the platform’s subsidiary exchange – Coinbase Pro, then the commission is reduced to 0.60%. However, Coinbase Pro – as the name suggests, is more suitable for professional Bitcoin traders.
Cryptoassets are a highly volatile unregulated investment product.
3. Binance – Top Exchange to Buy Bitcoin for Advanced Investors
Binance is very well known in the Thai crypto trading space. This exchange offers access to hundreds of digital currencies in addition to Bitcoin and you will find significant levels of liquidity. In terms of paying for your Bitcoin purchase, Binance offers a number of options.
Perhaps the easiest way to buy Bitcoin in Thailand via the Binance website is with your Visa or MasterCard. Binance builds its fees into the exchange rate that you are offered, albeit, we found this to average 2%. You might also consider the Binance P2P marketplace, which allows you to buy Bitcoin directly from local sellers.
You should, however, tread with caution – as you need to be certain that you are buying from a legitimate source. Another major benefit of using Binance is that once your account is funded, you can trade crypto at a commission of just 0.10%. This amounts to one of the lowest commissions in this space. Plus, if you own BNB – you will benefit from a 25% reduction in fees.
In a similar nature to Crypto.com, Binance also offers several ways that you can earn a yield on your Bitcoin investment. The platform offers an APY of 5% on flexible terms. However, this is capped at just 0.01 BTC. Anything above this – and below 0.5 BTC, is paid at just 0.8%.
With that said, if you decide to buy a less popular coin on Binance – you should be able to generate a significantly higher APY. Nonetheless, in terms of storing your Bitcoin tokens, Binance offers a decentralized app called Trust Wallet. Not only does this give you access to your private keys but you can access third-party exchanges like Pancakeswap.
Cryptoassets are a highly volatile unregulated investment product. No UK or EU investor protection.
4. Bitkub – Largest Bitcoin Exchange in Thailand
Bitkub is the largest exchange based in Thailand. The platform gives you access to a considerable number of cryptocurrencies in addition to Bitcoin – so you can diversify with ease. When it comes to funding your account, Bitkub accepts baht deposits via a bank transfer.
You should receive the funds in your Bitkub account within 24 hours and no deposit fees are charged. There is no support for debit/credit cards or e-wallets on the Bitkub platform. Trading commissions are charged at 0.25% per slide – and no discounts are offered for higher volumes.
One of the main drawbacks of Bitkub is that it doesn’t offer much in the way of investment features for beginners. For instance, you will find real-time pricing charts and analysis tools – but these are more suited for advanced traders. Moreover, there are no interest accounts and copy trading tools – so do bear this in mind.
Nonetheless, we like that Bitkub utilizes cold storage on customer digital assets, albeit a specific percentage is not given. As an additional layer of security on your account, Bitkub also offers two-factor authentication. Finally, when it comes to customer support, Bitkub offers a live chat facility.
5. Zipmex – Popular Bitcoin Trading Platform Serving South East Asia
Zipmex is a Bitcoin trading platform that is based in Singapore, albeit, it also serves Thai clients. The platform prides itself in offering low trading fees – with commissions starting at 0.20% per slide. With that said, the platform offers lower commissions as you increase your VIP level.
In order to do this, you will need to buy and lock ZMT tokens – which are native to Zipmex. The lowest commission on offer is 0.10% per slide and this will require you to lock 20,000 ZMT. In terms of trading tools, the Zipmex exchange comes with a charting area and order book.
You can also deploy charting drawing tools and technical indicators. Additionally, you can set up custom orders. In addition to Bitcoin, Zipmex offers dozens of altcoins. However, the main drawback here is that the vast majority of pairs contain either the Singapore or US dollar. As such, there are no trading pairs denominated in baht.
Should I Buy Bitcoin?
Now that you have read our Bitcoin exchange reviews, the next step is to do some research. By this, we mean understanding the upside potential with Bitcoin – and even more importantly, the risks involved.
If you do decide to invest in Bitcoin in Thailand, you should also consider what strategy to take.
- For instance, some people will buy Bitcoin in Thailand and look to keep their tokens in a private wallet long-term.
- On the other hand, some investors look for quick profits by buying and selling Bitcoin on a shorter-term basis.
Either way, the most important thing to remember about Bitcoin is that this asset class can be very volatile.
Sure, early investors in Bitcoin are now potentially looking at huge gains. But, Bitcoin has many times in the past lost a huge chunk of its value in a short period of time. This is why you should never invest more than you can afford to lose.
Nonetheless, just because Bitcoin is volatile and speculative, this isn’t to say that it doesn’t represent a viable investment for your portfolio.
For instance, even though Bitcoin and the broader markets have been bearish since the turn of 2022, on a rolling 5-year basis, the digital asset is up nearly 1,000%.
Benefits of Buying Bitcoin
In order to make an informed decision on whether or not Bitcoin is worth buying – you should consider both the benefits and risks.
In this section, we’ll discuss the former.
One of the first benefits to consider when you buy Bitcoin in Thailand is that you are investing in a decentralized asset. This means that once you buy Bitcoin and add the tokens to a private wallet, you have 100% of your funds.
This isn’t the case when you keep Thai baht in a bank account. On the contrary, the bank or financial institution in question always retains full control over your wealth.
In comparison, as soon as you are using a non-custodial wallet, nobody will be able to access your Bitcoin.
The decentralization of Bitcoin also extends to payments. This is because you can send Bitcoin from one person to another without needing to go through a third party
Store of Value
Another benefit to consider is that Bitcoin is arguably a store of value. This means that over the course of time, Bitcoin has every potential to increase its price indefinitely.
The reason for this is that Bitcoin has a fixed token supply that cannot be manipulated. Instead, the supply of Bitcoin is based on code that is ingrained into the underlying blockchain protocol.
More specifically, every time a new Bitcoin block is validated – which happens every 10 minutes, new tokens are automatically added to the supply.
Once again, this is in contrast to traditional money – which is controlled and manipulated by central banks. This has the undesired result of creating inflation – which ultimately, devalues your money as time goes by.
Gain Exposure Without Risking Large Amounts
You can buy Bitcoin in Thailand without needing to risk large sums of money. Depending on your chosen exchange, you should be able to invest in BTC tokens with just a few hundred baht.
In comparison, when you invest in other stores of value – such as real estate or gold, you often need to have a large amount of money at your disposal.
Top-Performing Investment Class
When you compare the performance of Bitcoin against traditional assets, you will quickly see why so many people in Thailand are looking to gain exposure to this asset class.
- For instance, let’s suppose that you invested in Bitcoin in early 2017 when it was worth $1,000.
- Had you held on until late 2021 – when Bitcoin last hit an all-time high of $69,000 – you would be looking at gains of 6,800%.
- This means that with an investment of 1,000 baht – your capital would have been worth 68,000 baht at its peak.
- Since hitting $69,000 – Bitcoin has hit lows of under $30,000.
- However, even at this price, you would be looking at gains of 3,000% when compared to its 2017 valuation of $1,000.
Crucially, over the prior five years, the S&P 500 – which tracks the largest 500 stocks in the US, has grown by just 70%. You then have gold – which over the past five years of writing has increased in value by just over 50%.
Earn Interest on Long-Term Tokens
If, like many people in Thailand, you are looking to buy Bitcoin as a long-term addition to your portfolio, you might also consider depositing your tokens into a savings account.
As we briefly mentioned earlier, platforms like Crypto.com and Binance allow you to earn interest on the tokens that you deposit. This means that irrespective of whether Bitcoin is in an upward or downward trend – you will continue to generate income.
And, perhaps even more importantly, the interest rates available on Bitcoin deposits are often much higher than what you can earn with a traditional bank account.
Risks of Buying Bitcoin
The main risks that you need to consider before you buy Bitcoin in Thailand are discussed in the sections below:
Bitcoin is Speculative
Although Bitcoin and its underlying blockchain protocol offer many benefits – including but not limited to secure transactions, decentralization, and transparency, it is important to remember that many people invest because of speculative reasons.
In other words, instead of viewing Bitcoin as a long-term store of value that has the potential to grow indefinitely, many investors hope to make quick gains.
This makes Bitcoin speculative – which in turn, leads to high levels of volatility.
Leading on from the above section, an even bigger risk to consider before you buy Bitcoin in Thailand is that its value is very volatile.
- As we mentioned earlier, Bitcoin was worth $69,000 in late 2021.
- However, by the end of January 2022, Bitcoin had already collapsed to $35,000.
- This represents a decline of almost 50% in less than two months of trading.
- Bitcoin has since hit 52-week lows of $26,000. From its all-time high in November 2021, this represents a decline of more than 60%.
However, many proponents of Bitcoin will equally argue that this represents a fantastic entry point – as you can buy Bitcoin in Thailand at a major discount when compared to its previous peak.
Ways of Buying Bitcoin
Ever wondered what the best Bitcoin casinos in Thailand is in 2023? If you have researched both the potential upside and risks of Bitcoin, the next thing to think about is the best way to invest.
Below, we discuss the different ways that you can buy Bitcoin in Thailand from the comfort of home.
Buy Bitcoin With Credit Card or Debit Card
Many people in Thailand now have access to a Visa or MasterCard issued by their banking institution. This offers the most convenient way to buy Bitcoin in Thailand.
This is because you can open an account with a popular exchange and then instantly invest in Bitcoin with your debit/credit card. In doing so, the Bitcoin tokens will be added to your brokerage portfolio web wallet within a matter of seconds.
Buy Bitcoin with PayPal
Another option you have is to buy Bitcoin with PayPal. As long as your PayPal account has been verified, you shouldn’t have any issues using your e-wallet.
Many investors in Thailand are comfortable buying and selling Bitcoin in US dollars – as this is the benchmark currency used to analyze its price. This is why leading exchanges like Coinbase and Binance all operate in USD.
Nonetheless, when assessing the price of Bitcoin, it is important to remember that market sentiment will drive demand and supply. This means that when the broader markets are feeling positive about Bitcoin, then this often results in buyers outweighing sellers.
And in turn, a wave of buyers will result in Bitcoin increasing in value. The opposite will happen when market sentiment is bearish – meaning that the price of Bitcoin will decline.
External factors can have a say on the price of Bitcoin too. For example, Russia’s invasion of Ukraine, ongoing supply chain issues, and ever-increasing inflation have arguably resulted in a major Bitcoin sell-off.
Bitcoin Price Prediction
Sell-side analyst ratings on Bitcoin vary considerably. That is to say, there is no general consensus.
- On the one hand, there are Bitcoin price predictions that target a medium-term upside back to the $69,000-ish level, before continuing on towards $100,000.
- However, there are also analysts who argue the 2022 bottom is yet to be reached. More specifically, some analysts believe that Bitcoin could retest the $20,000 level.
However, focusing on Bitcoin price predictions made by other people isn’t advised. After all, nobody truly knows what Bitcoin will do in the short or medium term.
Ultimately, if you believe in the long-term potential of Bitcoin, then price predictions should be ignored.
How to Buy Bitcoin Safely
Although Bitcoin has since surpassed a valuation of $1 trillion, this digital asset is still favored by cyber-criminals for its anonymous and remote characteristics.
Therefore, before you buy Bitcoin in Thailand – it’s important that you understand how to stay safe.
Never Invest Too Much Money
The first thing to consider before you invest in Bitcoin in Thailand is the size of your purchase. While you might be tempted to invest large sums with the hope of making a sizable amount of money, there is no guarantee that this will be the case.
As such, you should consider being conservative with your stakes. In fact, many investment circles will advise keeping your Bitcoin exposure to no more than 5% of your portfolio value.
Buy From a Legitimate Source
Once you have decided on an amount to invest, the next thing you can do to ensure you buy Bitcoin in Thailand safely is to research your chosen crypto exchange before proceeding.
This means that you can be confident about using your debit/credit card, e-wallet, or bank account to buy Bitcoin. However, even though Bitcoin has now been a tradable instrument since 2009, the vast majority of exchanges are still unregulated.
Keep Your Bitcoin Tokens in a Secure Location
After you have bought Bitcoin, you then need to ensure that your tokens are stored in a safe location.
If you decide to withdraw your Bitcoin to a non-custodial wallet – this means that you will need to take full responsibility for its safety.
While this can be achieved by learning how wallet security works – if somebody hacks you remotely, you will likely have your Bitcoin stolen.
How to Buy Bitcoin in Thailand – Tutorial
If you are looking to buy Bitcoin in Thailand for the first time – the guide below will walk you through the investment process with one of the leading exchanges.
You can usually pay for your Bitcoin purchase with a debit/credit card, e-wallet, or bank account transfer.
Step 1: Open a Crypto Account
You will initially need to create a crypto brokerage account that has been verified. From start to finish, you can usually do this in a matter of minutes.
After choosing a username and password, enter your email address and click to create an account
Next, you will need to enter some basic personal information – such as your name and nationality.
Step 2: Upload ID
The KYC process at most brokers will require you to provide some ID. Passports and driver’s licenses are normally accepted, albeit, the former is processed faster.
You will also need to provide an official document that verifies your stated home address. This usually can be a bank statement, for example, but many other documents are accepted. Just make sure that the document was issued within the prior three months.
Step 3: Deposit Funds
The deposit process at most good brokers is also fast and straightforward. First, type in the amount of money that you would like to deposit. This needs to be stated in US dollars usually, albeit, your chosen payment method can still be denominated in Thai baht.
Foreign exchange and/or commission fees may also be payable.
Step 4: Search for Bitcoin
If you have successfully deposited funds, you can now buy Bitcoin. The easiest way to do this is to search for ‘Bitcoin’ by typing in the name of the digital asset.
As you begin typing, you should see Bitcoin appear below the search box – click the option to trade or buy to proceed.
Step 5: Buy Bitcoin
Now you will need to fill out the order form that will appear on your screen.
This will require you to specify your investment stake – which needs to be at least the site’s minimum purchase. Follow the on-screen steps to complete your Bitcoin purchase.
How to Sell Bitcoin
After you have bought Bitcoin on the broker’s website, the tokens will be deposited into your wallet – which is managed on your behalf.
If at any point you want to cash out your Bitcoin investment, you can do this via your broker’s portfolio. After confirming the sale, the cash will be added to your balance.
If you wish, you can then withdraw the cash out of the site and back into your bank account, e-wallet, or debit/credit card.
In summary, you can now buy Bitcoin in Thailand or other Asian cryptocurrencies with ease – not least because plenty of exchanges accept convenient payment methods like debit/credit cards and bank account transfers.