Summary
Cryptocurrency is legal in Thailand, with the country adopting a progressive stance towards digital assets. Popular payment methods include bank transfers and credit cards. The Thai Baht (THB) is widely supported on major exchanges. Key regulatory bodies include the Securities and Exchange Commission (SEC) and the Bank of Thailand (BOT). The Digital Asset Business Decree of 2018 governs crypto activities in the country. Here are the best crypto exchanges for Thailand:
Best Crypto Exchanges in Thailand
When it comes to trading cryptocurrencies in Thailand, selecting the right exchange is crucial. This article explores the top crypto exchanges available to Thai residents, focusing on factors such as supported cryptocurrencies, trading fees, deposit methods, and KYC requirements. We’ll pay special attention to platforms that support the Thai Baht (THB) and offer convenient payment methods for local users.
For Thai traders, bank transfers and credit card payments are often the most accessible options. However, it’s essential to compare the fees and processing times associated with each method. Let’s examine the key features of the leading crypto exchanges serving the Thai market:
1. MEXC
Users:
15m
Free Demo:
Mobile App:
Bonus
$20,000
Cryptos:
2400+
Leverage:
200x
Spot Fees:
0.02%
Futures Fees:
0%/0.02%
Pros
- Lowest Trading Fees
- 2000+ supported crypto assets
- 200x leverage and deep liquidity
- 24/7 customer support
- Best for altcoin and leverage trading
Cons
- Not available in the US
- Newly launched coins pose high risk
- May request KYC in the future
Overview
MEXC is known as the crypto exchange with the lowest fees. What makes MEXC stand out is its 0% maker fee offer, meaning you can trade without any fees. However, the spot and futures taker fees start at 0.02%. No crypto exchange can compete with the MEXC fee structure.
If you are a day trader seeking high leverage, MEXC may be one of your best options. With 200x leverage over 400 futures contracts and by far the lowest fees, MEXC is truly a day trading heaven.
Even if you are not interested in leverage trading, MEXC has you covered with over 2000 supported cryptocurrencies on the spot market. While MEXC offers tons of new altcoins, we recommend being cautious as the legitimacy of newly listed projects may be questionable.
All in all, MEXC is arguably the best option for high-frequency traders seeking low fees to get the best value for money.
2. Binance
Users:
200m
Free Demo:
Mobile App:
Bonus:
$100
Cryptos:
400+
Leverage:
125x
Spot Fees:
0.1%
Futures Fees:
0.02%/0.05%
Pros
- Most comprehensive crypto exchange
- Most advanced features and products
- 24/7 customer support
- 400+ cryptocurrencies
- Reputable with over 200 million users
- Best liquidity
Cons
- Not beginner friendly
- Restricted in many regions due to regulations
- EU traders must use BNFCR for futures trading
Overview
Reaching over 200 million registered users in 2024, Binance is by far the largest crypto exchange in the world. The platform is incredibly comprehensive, offering crypto traders all the tools they need to make a profit in the crypto market.
With over 400 cryptocurrencies to trade, leverage of up to 125x, directly integrated charts from TradingView with tons of technical analysis tools, and many more features, Binance has secured its spot as one of the best crypto exchanges.
Binance offers a wide variety of products, including spot, margin, futures, and options trading, staking, lending, P2P, automated bot trading, copy trading, and even an NFT marketplace. It is safe to say that crypto geeks will find everything they are looking for on Binance.
The trading fees on Binance are very affordable. Binance charges 0.1% trading fees on the spot market (makers and takers alike), which is the industry standard. Where Binance excels is the futures market with fees of only 0.02% for makers and 0.05% for takers.
3. Bitget
Users:
23m
Free Demo:
Mobile App:
Bonus
$6,200
Cryptos:
840+
Leverage:
125x
Spot Fees:
0.1%
Futures Fees:
0.02%/0.06%
Pros
- Over 800 cryptos
- Fair trading fees
- Great for EUR SEPA transfers
- 24/7 customer support
- Very beginner friendly
Cons
- Not available in the US
- No TWAP order supported
- Mandatory KYC for new accounts
Overview
Bitget is a true powerhouse for crypto traders from over 100 supported countries. What makes Bitget special is its beginner-friendly trading platform, which has over 800 supported cryptocurrencies. With so many supported cryptocurrencies, if you are looking to trade altcoins, Bitget might be one of your best shots.
With fiat support for 6 currencies, including EUR and RUB, Bitget is a top choice, especially for European users looking to deposit and withdraw funds in their native currency with ease. The 0% fee for SEPA transactions makes Bitget stand out. Credit card payments are also supported.
Experienced crypto traders can trade futures contracts on Bitget with 125x leverage on selected assets such as Bitcoin or Ethereum.
The spot trading fees start at 0.1% for makers and takers, which is very common in the industry. For futures traders seeking leverage for their day trading activities, Bitget charges very low fees of 0.02% maker and 0.06% taker.
4. Kraken
Users:
10m
Free Demo:
Mobile App:
Bonus:
None
Cryptos:
220+
Leverage:
100x
Spot Fees:
0.25%/0.4%
Futures Fees:
0.02%/0.05%
Pros
- Very beginner-friendly
- Low futures trading fees
- Free demo trading
- Fiat supported
- 24/7 customer support
- Fully regulated
Cons
- High spot trading fees
- Lacks advanced features
- Poor liquidity for futures trading
- Complicated Demo trading
Kraken Overview
Kraken stands out as one of the most beginner-friendly crypto exchanges. With an easy to understand UI, simple features, and a straightforward approach, Kraken has onboarded over 10 million users to its platform from all around the world.
Spot traders can access over 220 cryptocurrencies for buying and selling. For traders seeking more buying power, Kraken offers a leverage trading platform with up to 50x leverage on selected assets such as BTC.
In terms of fees, Kraken has a different approach for spot and futures trading. While spot trading fees are relatively high (0.25% maker and 0.4% taker), the futures fees are very low (0.02% maker and 0.05% taker). Based on your 30-day trading volume, you can obtain additional fee discounts.
What we love about Kraken is its comprehensive fiat support. You can deposit funds using your credit card or bank transfer. Once you are done trading, you can withdraw fiat currencies such as EUR or USD back to your personal bank account to lock in your profits.
5. Bitkub
Users:
4.5M
Free Demo:
Mobile App:
Bonus:
None
Cryptos:
143+
Leverage:
Not Supported
Spot Fees:
0.25%/0.25%
Futures Fees:
Not Supported
Pros
- Highest cryptocurrency trading volume in Thailand
- User-friendly interface
- Strong security features
Cons
- Customer support issues
- No futures trading options available
Bitkub Overview
Bitkub is a leading cryptocurrency exchange in Thailand, offering services for both novice and experienced traders. The platform supports over 143 digital assets, including major cryptocurrencies. Bitkub provides spot trading with fees of 0.25% for both makers and takers.
The exchange boasts the highest cryptocurrency trading volume in Thailand, serving a substantial user base of 4.5 million. Bitkub implements KYC procedures for enhanced security and offers a user-friendly mobile app for convenient trading on-the-go.
Bitkub’s interface is designed for ease of use, catering to beginners in the cryptocurrency market. The platform has implemented strong security features to protect user assets and data.
However, Bitkub does not support futures trading, limiting options for advanced traders. The exchange has faced issues with customer support, which may pose challenges for users requiring assistance. Additionally, Bitkub does not offer a demo account for risk-free strategy testing or any promotional bonuses for new or existing traders.
Is Crypto Legal and Regulated in Thailand?
Cryptocurrency is legal in Thailand, but it operates under a regulated framework. The primary regulatory body overseeing digital assets is the Securities and Exchange Commission (SEC) of Thailand. In 2018, the government enacted the Digital Asset Business Decree, which established guidelines for crypto businesses and exchanges.
Under this decree, crypto exchanges, brokers, and dealers must obtain licenses from the SEC to operate legally. The Bank of Thailand (BOT) also plays a role in regulating certain aspects of cryptocurrency use, particularly in relation to financial institutions.
In 2021, the SEC implemented additional regulations prohibiting exchanges from offering certain types of tokens, including meme coins and fan tokens. The regulatory landscape continues to evolve, with the government aiming to balance innovation with investor protection. It’s crucial for traders and investors to stay informed about the latest regulations and only use licensed platforms when engaging in cryptocurrency transactions in Thailand.
Is Crypto Taxable in Thailand?
Yes, cryptocurrency is taxable in Thailand. The Revenue Department of Thailand has issued guidelines on the taxation of digital assets. Capital gains from cryptocurrency trading are subject to a 15% withholding tax. Additionally, profits from cryptocurrency mining are considered assessable income and taxed at the standard progressive rates, which range from 0% to 35%.
For businesses dealing with cryptocurrencies, profits are subject to corporate income tax at a rate of 20%. Value-Added Tax (VAT) may also apply to certain cryptocurrency transactions, although the specifics can be complex and depend on the nature of the transaction.
It’s important to note that tax laws and their application to cryptocurrencies can be intricate and subject to change. Proper record-keeping of all cryptocurrency transactions is essential for accurate tax reporting.
Disclaimer:
Tax laws are subject to change, and individual circumstances may vary. It is strongly advised to consult with a qualified tax professional or financial advisor for personalized guidance on cryptocurrency taxation in Thailand.
How to Buy Crypto in Thailand
Purchasing cryptocurrency in Thailand has become increasingly accessible. For Thai residents, we recommend using MEXC due to its wide range of supported cryptocurrencies and competitive fees. Whether you’re looking to buy Bitcoin, Ethereum, or other altcoins, the process is relatively straightforward.
Here’s a step-by-step guide on how to buy cryptocurrencies in Thailand:
- Choose a Crypto Exchange: Start by selecting a reliable exchange that accepts Thai Baht (THB) and provides your preferred payment methods. Ensure the platform follows local regulations and requires KYC verification.
- Create an Account and Verify: Sign up on the selected exchange and complete the KYC process by submitting necessary documents like a government-issued ID and proof of residence.
- Deposit Thai Baht: Fund your account using popular payment options in Thailand, such as bank transfers, credit/debit cards, or cash deposits via partner locations.
- Pick Your Cryptocurrency: Select the digital currency you wish to purchase, with common choices being Bitcoin (BTC), Ethereum (ETH), or stablecoins like Tether (USDT).
- Make Your Purchase: Place an order for your desired cryptocurrency. You can either execute a market order for an instant buy at the current price or set a limit order to purchase when the price hits your target.
- Secure Your Crypto: After buying, decide whether to keep your crypto on the exchange or move it to a personal wallet for extra protection.
Be mindful of transaction fees, exchange rates, and the platform’s credibility. It’s smart to start with smaller amounts until you’re comfortable with the process.
Best Crypto Wallets in Thailand
Choosing the right crypto wallet is essential for safeguarding your digital assets in Thailand. Various wallet types offer differing levels of security and convenience, and selecting the right one depends on your specific needs. Here are some top wallet options for Thai crypto users:
Hardware Wallets: These provide the highest level of security, ideal for long-term asset storage.
- Ledger Nano X: A well-known hardware wallet offering strong security and support for numerous cryptocurrencies.
- Trezor Model T: Another highly secure hardware wallet, featuring a user-friendly touchscreen interface.
Software Wallets: These offer a mix of security and convenience, making them suitable for regular transactions.
- Trust Wallet: A mobile wallet supporting a wide range of cryptocurrencies and decentralized applications (DApps).
- Exodus: A desktop and mobile wallet with a built-in exchange, known for its user-friendly design.
Web Wallets: These are highly convenient but may not provide the same level of security as hardware or software wallets.
- MetaMask: A popular browser extension wallet, ideal for interacting with Ethereum-based DApps and tokens.
Exchange Wallets: Great for active traders but not recommended for long-term storage.
- MEXC Wallet: The integrated wallet service offered by MEXC exchange.
- Binance Wallet: A built-in wallet for Binance users, offering seamless trading experiences.
When selecting a wallet, consider factors such as the cryptocurrencies you plan to store, how often you’ll be using them, and your security needs. For larger holdings, it’s often wise to use a combination of a hardware wallet for long-term security and a software wallet for everyday transactions.
Bottom Line
In conclusion, Thailand offers a vibrant cryptocurrency landscape with several reputable exchanges catering to local needs. Among the best crypto exchanges in Thailand, MEXC stands out for its extensive coin selection and competitive fees. For those seeking a global platform with high liquidity, Binance is an excellent choice. Both exchanges provide robust security measures and support for Thai Baht transactions, making them ideal for Thai crypto enthusiasts. Remember to always conduct your own research, comply with local regulations, and consider your individual trading needs when selecting a platform for your cryptocurrency activities in Thailand.
