Best Crypto Exchanges in Bangladesh
Discover Bangladesh's best crypto exchanges that ensure secure trades with diverse BDT payment options.
Summary: Bangladesh is quickly rising in the Asian cryptocurrency scene, supported by regulation from the Bangladesh Bank. The regulatory guidance from this authority shapes and secures the operations of digital asset exchanges in the country. Bangladeshi investors enjoy the ease of funding their accounts in BDT through options like bank transfers, credit cards, and mobile payments.
For Bangladeshi investors starting in digital currency trading, here is a list of the 5 top cryptocurrency platforms in Bangladesh:
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Best Cryptocurrency Exchanges in Bangladesh
We have thoroughly reviewed the 17 cryptocurrency exchanges available in Bangladesh and narrowed them down to the 5 best options for Bangladeshi investors. Our assessment concentrated on factors like adherence to Bangladesh Bank regulations, diversity of crypto assets, user interface, BDT deposit methods, and the cost implications. Here is a comparison table of the top investment platforms for local tradders:
1. Bybit
Bybit has become the top choice for cryptocurrency exchange in Bangladesh, offering access to over 1,100 digital assets to trade on derivatives, spot and options markets with leverage options up to 100x acailable. It guarantees safe transactions on its compliant platform that adheres to Bangladesh Bank regulations and facilitates easy Bangladeshi Taka (BDT) deposits through local methods.
Its appealing fee structure, with a maker fee of 0.02% and a taker fee of 0.055% for futures abd 0.1% for spot trading, attracts a global user community of more than 28 million in Bangladesh and 160 other countries. Thanks to this widespread availability, Bybit can be used in Bengali and provides users with live customer service in the language. In addition to investing, it provides lending, borrowing and staking services, allowing users to earn high yields.
- Fees: Maker fee at 0.02% and taker fee at 0.055%.
- Supported Cryptocurrencies: Offers access to over 1,100 digital assets.
- Regulation & Licensing: Adheres to global regulatory standards and is available to Bangladeshi investors.
- BDT Deposit Methods: Bank transfers, electronic payments, credit cards, debit cards, Rocket, and Nagad.
2. Gate.io
Gate.io is a cryptocurrency trading platform that gained popularity for its superior altcoin variety. The platform makes its mark with an expansive selection of over 1,700 cryptocurrencies, offering an appealing choice for those looking to trade a wide range of digital assets. There are multiple markets available, including spot and futures with up to 100x leverage. It attracts attention for its competitive base fees, starting at just 0.1% for spot trades.
The exchange has a daily trading volume that surpasses $5 billion and a user base of more than 14 million in Bangladesh and 180 other countries. The platform further enhances user experience with distinctive features like trading bots, copy trading, crypto loans, an NFT marketplace and a Launchpad for new startups. Unfortunately it cannot be used in Bengali but it provides support in the language.
- Fees: 0.1% for maker orders and 0.2% for taker orders.
- Supported Cryptocurrencies: Over 1,700 digital assets.
- Regulation & Licensing: Operates offshore in the Seychelles, not directly licensed in Bangladesh.
- BDT Deposit Methods: Bank transfers, mobile banking, and credit cards.
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3. MEXC
MEXC is a popular exchange with a robust portfolio of over 800 crypto assets with a focus on futures trading where leverage possibilities reach up to 200x. This aspect is particularly advantageous for traders with a more developed level of experience. Holding a license in Estonia and with headquarters in Seychelles, MEXC complies with Bangladeshi regulatory standards.
It addresses a variety of trading needs with services such as spot and margin trading, staking, and Initial Exchange Offerings (IEOs). Its capacity to handle over $2 billion in daily trading volume reflects a strong commitment to market flexibility and user security. MEXC has comprehensive trading solutions, an attractive fee structure, multiple BDT deposit methods, and focuses on improving the user experience for local investors.
- Fees: Mmaker fees from 0.020% to 0.060% and taker fees between 0.060% and 0.080%.
- Supported Assets: More than 300 cryptocurrencies.
- Regulation & Licensing: Holds an Estonian license and operates from Seychelles but is not regulated in Bangladesh.
- BDT Deposit Methods: Bank transfers and debit or credit cards.
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4. Binance
Binance is the worlds largest digital asset exchange that provides services to over 190 million registered users in 100 countries, including Bangladesh. It accepts deposits in over 60 fiat currencies and has a multilingual interface available in 40 languages. The exchange has a vast selection of over 350 cryptocurrencies which can be traded on spot and futures markets with up to 50x leverage on 180 derivatives and options contracts.
Designed for broad accessibility, Binance it offers a selection of advanced features, such as staking options with fixed and flexible terms, lending and borrowing services, copy trading, demo accounts and a Launchpad. It also gives users access to DeFi with its native blockchain, BNB Chain, plus an NFT marketplace, on-chain staking, a Web3 and more.
- Fees: Spot trading from 0.1% and the futures maker/taker rebate is 0.01% and 0.06%.
- Supported Assets: A broad range of over 350 cryptocurrencies.
- Regulation & Licensing: While globally licensed, Binance operates without direct regulation in Bangladesh, yet remains accessible to investors.
- BDT Deposit Methods: Bank transfer, mobile banking options, credit cards and debit cards.
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5. OKX
OKX is an exchange with a focus on offering DeFi and Web3 services. It supports a diverse portfolio of over 300 crypto assets to buy, sell and trade with spot and futures trading. One of the standout features of OKX is its dynamic DeFi ecosystem, powered by the OKT Chain, which offers features similar to Binance's BNB Chain. This innovative element of enables high-yield DeFi investments, attracting traders searching for high returns.
Beyond its comprehensive DeFi solutions, OKX accommodates a variety of trading preferences with options for spot, margin, futures, and options markets with leverage up to 50x. The platform also boosts its appeal with an active NFT marketplace and portfolio management tools. This feature gives users access to popular projects like Bored Apes, Milady Maker and Pudgy Penguins.
- Fees:0.8% charge for spot trading, a maker fee of 0.02% and taker fee of 0.07%.
- Supported Cryptocurrencies: Over 300 cryptocurrencies.
- Regulation & Licensing: Follows international regulatory standards, ensuring a secure trading environment for Bangladeshi users.
- BDT Deposit Methods: Bank transfers and credit card options.
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Is Crypto Regulated in Bangladesh?
Cryptocurrency regulation in Bangladesh has a complex status. Initially, the country was wary of digital currencies but has recently made progress in grasping and possibly integrating blockchain technology.
In 2020, the Government of the People’s Republic of Bangladesh released the National Blockchain Strategy, signaling an acknowledgment of crypto's importance in ushering in the Fourth Industrial Revolution (4IR). This document not only recognized the potential of blockchain technology to solve complex problems and achieve Sustainable Development Goals (SDGs) but also outlined Bangladesh's ambition to become a progressive nation.
Yet, the rules for cryptocurrencies like Bitcoin are still strict. Bangladesh Bank previously warned against using these currencies, citing their incompatibility with existing financial laws. These include the Foreign Exchange Regulation Act of 1947, the Anti-Terrorism Act of 2009, and the Money Laundering Prevention Act of 2012. The bank's warnings reflect concerns about the potential financial and legal risks for those involved in crypto transactions, and it advises the public to steer clear of these activities to avoid possible repercussions.
How is Crypto Taxed in Bangladesh?
Cryptocurrency transactions are not subject to formal taxation in Bangladesh. This is because the Bangladesh Bank, which sets financial legal status, does not recognize digital currencies as legitimate. As a result, the National Board of Revenue, the primary tax authority in Bangladesh, has no specific tax rules for crypto earnings or transactions. This approach follows the central bank’s warnings against participating in such transactions, which conflict with the country’s financial laws and regulations.
Bottom Line
In conclusion, as Bangladesh continues to develop its stance on cryptocurrencies, the regulatory oversight provided by the Bangladesh Bank has bolstered the growth of digital asset trading within the country. Specifically, platforms like Bybit, Gate.io, MEXC, Binance, and OKX excel by integrating local payment methods and complying with the existing financial regulations, thereby creating a safer environment for Bangladeshi investors.
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