Summary
Cryptocurrency trading is legal in Uzbekistan, with the National Agency for Project Management (NAPM) serving as the primary regulatory body. The Uzbekistani Som (UZS) is supported by major crypto exchanges, with bank transfers and credit cards being the primary payment methods. The country maintains a progressive stance on digital assets through the “On measures to develop the digital economy in the Republic of Uzbekistan” decree. Here are the best crypto exchanges in Uzbekistan ranked by features and reliability:
Best Crypto Exchanges in Uzbekistan
Uzbekistan’s cryptocurrency market has evolved significantly since the government’s implementation of regulatory frameworks in 2018. Local traders benefit from access to international exchanges that support Som (UZS) transactions through various payment methods including bank transfers, credit cards, and electronic payment systems.
1. 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.
2. Coinbase
Users:
100m
Free Demo:
Mobile App:
Bonus:
$10
Cryptos:
250+
Leverage:
5x
Spot Fees:
0.4%/0.6%
Futures Fees:
0.02%/0.05%
Pros
- Most beginner-friendly exchange
- Fully regulated and licensed
- Great customer support
- Reputable with over 100 million users
- Comprehensive fiat deposit methods
- Great wallet for on-chain access
Cons
- Lacks advanced features
- Very high spot trading fees
- Poor liquidity
Coinbase Overview
Coinbase is one of the largest and most well-known cryptocurrency exchanges for buying cryptos.The platform currently has a user community of over 100 million users worldwide. What makes Coinbase special is its user-friendly interface. The platform is designed to be easy to use, making it accessible for beginners. Coinbase offers a clean and intuitive interface for buying, selling, and managing cryptocurrencies.
Crypto traders have access to over 250 cryptos for active trading. One downside of Coinbase is the fee structure. When you place an order at the market price that gets filled immediately, you are considered a taker and will pay a fee of 0.60%, which is very expensive.
Another thing about Coinbase is that it offers a wide range of crypto services. These include wallets, NFT, crypto staking, Coinbase cards, and many more to help improve the overall trading experience on the platform. One of our favorite features is the Coinbase wallet.
It is suitable for beginners but also offers advanced trading tools including real-time charts, technical indicators, and many more for advanced traders.
3. 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.
4. MEXC
Users:
15m
Free Demo:
Mobile App:
Bonus
$20,000
Cryptos:
2400+
Leverage:
300x
Spot Fees:
0.05%
Futures Fees:
0.01%/0.04%
Pros
- Lowest Trading Fees
- 2000+ supported crypto assets
- 300x 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 300x 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.
5. BitMart
Users:
9M
Free Demo:
Mobile App:
Bonus:
$50
Cryptos:
1400+
Leverage:
125x
Spot Fees:
0.1%/0.1%
Futures Fees:
0.02%/0.06%
Pros
- No KYC required
- Extensive range of cryptocurrencies
- Upto 125X leverage
- Earn rewards through crypto staking
- Access to an NFT marketplace
Cons
- Limited usability without KYC verification.
- Mixed user feedback
- Slow customer service
BitMart Overview
BitMart is a comprehensive cryptocurrency exchange serving 9 million users globally. The platform supports over 1400 cryptocurrencies, offering spot trading with fees of 0.1% for both makers and takers. BitMart provides futures trading with up to 125x leverage, charging 0.02% for makers and 0.06% for takers.
The exchange features an NFT marketplace and staking options for passive income. BitMart caters to various trader levels with its advanced trading interface and tools. A demo account is available for practice, and mobile apps ensure on-the-go trading.
BitMart operates without KYC requirements, potentially appealing to users valuing privacy. However, this approach may raise regulatory concerns in some jurisdictions.
The platform offers a user-friendly interface with real-time market data and advanced charting tools. BitMart also provides a range of order types, including limit, market, and stop-limit orders. The exchange supports multiple languages and offers 24/7 customer support through various channels, enhancing its accessibility to a global user base.
Is Crypto Legal and Regulated in Uzbekistan?
Cryptocurrency trading is legal in Uzbekistan under the regulatory oversight of the National Agency for Project Management (NAPM). The country established its crypto framework through Presidential Decree No. PP-3832, which legitimized crypto trading activities in 2018.
The NAPM implements specific requirements for cryptocurrency platforms operating in Uzbekistan, including mandatory licensing for crypto exchanges and custody services. The Central Bank of Uzbekistan works alongside the NAPM to ensure compliance with anti-money laundering (AML) and know-your-customer (KYC) regulations.
In 2021, Uzbekistan further refined its crypto regulations through Presidential Decree No. PP-4884, which introduced additional measures for crypto market participants and established clearer guidelines for cryptocurrency mining operations.
Is Crypto Taxable in Uzbekistan?
Cryptocurrency taxation in Uzbekistan follows specific guidelines established by the Ministry of Finance. Trading profits are subject to capital gains tax at a rate of 12% for individuals. Mining income is classified as business income and taxed at the standard corporate rate of 15%.
The tax framework requires crypto traders to maintain detailed records of their transactions, including purchase prices, sale prices, and the duration of ownership. Crypto-to-crypto transactions must be calculated based on the market value in UZS at the time of the exchange.
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 Uzbekistan.
How to Buy Crypto in Uzbekistan
Purchasing cryptocurrency in Uzbekistan has become increasingly accessible through regulated platforms. Binance stands out as the leading option, offering competitive fees and extensive Som (UZS) trading pairs. The platform supports direct UZS deposits and provides access to over 350 cryptocurrencies.
- Select a cryptocurrency exchange – Verify UZS support and payment methods compatibility. Consider factors such as trading fees, available trading pairs, and security features. Ensure the platform complies with Uzbekistan’s regulatory requirements.
- Complete registration – Submit identification documents for KYC verification. This typically includes passport or national ID, proof of address, and facial verification. The process usually takes 1-2 business days for Uzbekistani residents.
- Fund your account – Bank transfers offer the most cost-effective method, with fees typically under 1%. Credit card purchases incur higher fees (3-5%) but provide instant access. Popular local payment methods include UzCard and Humo card systems.
- Choose cryptocurrency – Popular options include Bitcoin (BTC), Ethereum (ETH), or USDT. Consider starting with stablecoins like USDT for price stability, or major cryptocurrencies like Bitcoin for long-term investment potential.
- Execute trade – Place market orders for immediate execution at current prices, or limit orders to buy at specific price points. Monitor the order book and trading volume for optimal entry points.
- Secure storage – Transfer funds to a personal wallet for enhanced security. Consider the transaction fees and network congestion when timing your withdrawals.
Uzbekistani traders typically prefer bank transfers due to lower fees, while credit card purchases offer immediate access to cryptocurrencies. P2P trading platforms provide additional options for local currency transactions, often with competitive rates and increased privacy. For amounts exceeding $10,000, consider splitting purchases across multiple transactions to minimize market impact.
Best Crypto Wallets in Uzbekistan
Securing cryptocurrencies requires reliable wallet solutions that align with Uzbekistan’s regulatory framework. Hardware wallets like Ledger and Trezor provide maximum security for long-term storage, offering offline protection against cyber threats and supporting multiple cryptocurrencies.
For regular trading, software wallets such as MetaMask offer convenient access with features specifically beneficial for Uzbekistani users, including support for local DeFi platforms and compatibility with major exchanges. MetaMask’s integration with Web3 applications provides access to decentralized exchanges and yield farming opportunities.
Mobile wallets including Trust Wallet and Exodus support multiple cryptocurrencies and provide user-friendly interfaces. Trust Wallet offers built-in DApp browsers and staking capabilities, while Exodus provides detailed portfolio tracking and exchange services. Both wallets maintain security through encryption, biometric authentication, and secure backup options.
For optimal security, Uzbekistani users should implement a multi-wallet strategy: hardware wallets for long-term holdings, software wallets for regular transactions, and mobile wallets for daily convenience. This approach balances security with accessibility while complying with local digital asset regulations.
Bottom Line
For traders seeking the best crypto exchanges in Uzbekistan, Binance leads the market with its comprehensive features, extensive UZS trading pairs, and competitive fee structure starting at 0.1%. Coinbase follows as a strong alternative, particularly for those prioritizing security and regulatory compliance, offering institutional-grade storage and advanced trading tools. Both platforms maintain strict adherence to local regulations while providing robust customer support in multiple languages. Their integration with local payment methods and support for the Som (UZS) currency make them optimal choices for Uzbekistani cryptocurrency traders.
