Best Crypto Exchanges in Kazakhstan

Best Cryptocurrency Exchange in Kazakhstan

We reviewed the 14 crypto exchanges operating in Kazakhstan that adhere to Astana Financial Services Authority (AFSA) regulations. Key factors in our evaluation included transaction fees, the range of supported cryptocurrencies, platform features, and the Kazakhstani tenge (KZT) deposit options. Here’s a look at the top 5 options for Kazakhstani traders.

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1. Bybit

Bybit is easily the best crypto exchange in Kazakhstan, offering free Kazakhstani tenge (KZT) deposits and low fees. With over 1,400 cryptocurrencies available, Bybit lets you trade on spot, futures, and options markets with up to 100x leverage if you're looking to maximize gains. Plus, their customer support is available 24/7 in Kazakh.

Aside from trading, it has many features to help you grow your assets. You can stake, lend, and borrow with some of the highest yields in the market. There’s also a demo account for practice, copy trading to follow expert strategies, an OTC desk for large trades, and even a trading bot for automation. It also offers an NFT marketplace, a crypto Visa card and more services.

• Fees: Maker fee is 0.02%, taker fee is 0.055%, and spot trading fees are 0.1%.
• Supported Assets: Over 1,400+ cryptocurrencies.
• Regulation & Licensing: Licensed by the Astana Financial Service Authority (AFSA).‍
• ‍KZT Deposit Methods: Bank transfers, Apple Pay, Google Pay, Swapple, SEPA, credit cards and debit cards.

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2. Binance

Binance is a great option for traders who need access to deep liquidity. It’s one of the largest exchanges globally, with over 210 million registered users, so you’ll never have trouble with liquidity. Users can trade 350 digital assets on spot and futures markets and take advantage of low trading fees, which reduce if you hold Binance Coin (BNB).

What sets the platform apart is the range of services it offers. Whether it’s staking, savings products, or margin trading, Binance has you covered. They also offer leveraged tokens and futures contracts with up to 100x leverage. The Binance Visa card lets you spend your crypto, and Binance Earn helps you grow your assets passively.

• Fees: Binance charges 0.1% for spot trades and 0.06% for derivatives.
• Supported Assets: Over 350 cryptocurrencies.
• Regulation & Licensing: Licensed by the Astana Financial Services Authority (AFSA).‍
• KZT Deposit Methods: Bank transfers, credit cards, debit cards and Apple Pay.

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3. Gate.io

Gate.io is perfect for those in Kazakhstan looking for a wide selection of cryptocurrencies. With over 2,100 digital assets available for trading across spot and derivatives markets, it is great if you want to explore more than just the big names like Bitcoin or Ethereum. They also support margin and futures trading with up to 100x leverage.

The exchange isn’t just about trading, it offers staking, lending, and even liquidity farming for those looking to earn more. They also run an Initial Exchange Offering (IEO) platform, allowing you to invest in new crypto projects early. It has over $7 billion in daily trading volume across both order books and is home to more than 16 million users.

• Fees: Maker fees starting at 0.1% and taker fees at 0.2%.
• Supported Assets: Over 2,100 digital assets.
• Regulation & Licensing: Based offshore in Seychelles, accessible to Kazakhstani traders.‍
• KZT Deposit Methods: Bank transfers and credit or debit cards.

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4. MEXC

MEXC is popular for its high-leverage trading options, offering leverage up to 200x on futures contracts. The platform supports over 800 cryptocurrencies, making it a versatile choice for traders seeking diverse digital assets through multiple order types. The platform is super easy to navigate, so even if you’re new to derivatives, you’ll find your way around quickly.

Tailored for traders, MEXC offers spot and margin trading, earning options and Initial Exchange Offerings (IEOs). You can also earn passive income through staking, and if you’re into automating your trades, their trading bots are there to help. With daily trading volumes exceeding $2 billion, it demonstrates its capability to meet market demands.

• Fees: Maker fees range from 0.02% to 0.06%, and taker fees from 0.06% to 0.08%.
• Supported Assets: Over 800 cryptocurrencies.
• Regulation & Licensing: Licensed in Estonia but available in Kazakhstan.‍
• ‍KZT Deposit Methods: Bank transfers and credit cards.

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5. ‍KuCoin

KuCoin is a global exchange with over 700 coins available for trading. The platform supports spot, margin, and futures trading with up to 50x leverage, making it suitable for all levels of traders. Security is a priority at KuCoin, with features like Proof of Reserves (PoR) to ensure that user assets are fully backed and safe.

The platform also offers an impressive suite of features, including staking, lending, and even its own mining pool. Users can easily manage their assets with KuCoin’s sleek mobile app, making it convenient to trade anytime, anywhere. The platform also has multilingual customer support, available 24/7, to assist users with any issues or questions. 

• Fees: 0.1% for both maker and taker.
• Supported Assets: 700+ cryptocurrencies.
• Regulation & Licensing: Licensed in Kazakhstan.
• KZT Deposit Methods: Credit cards.

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Is Crypto Regulated in Kazakhstan?

Yes, Kazakhstan regulates crypto and has created a welcoming environment for crypto businesses. In 2023, the country introduced new rules similar to Dubai’s approach, with the Astana Financial Services Authority (AFSA) overseeing crypto activities within the Astana International Finance Center (AIFC). This zone offers key perks like no corporate or personal income tax for employees, making it a hotspot for big names like Binance and ByBit.

Kazakhstan’s crypto laws, particularly the Law on Digital Assets, focus on licensing companies to legally offer services like crypto trading and custody within the AIFC. The process can take 6 to 9 months and includes strict compliance with AML and KYC rules. Through its Fintech Lab, Kazakhstan also encourages innovation, allowing companies to develop and test new financial services.

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How is Crypto Taxed in Kazakhstan?

Kazakhstan’s tax environment for cryptocurrency is still evolving and is overseen by the State Revenue Committee. For individuals, income earned from buying and selling digital assets is taxed as property income, with a capital gains tax rate of 10%. This applies whether or not you’ve held the asset for a long time. 

For companies involved in crypto transactions, profits are subject to the standard corporate income tax rate of 20%. However, those operating within the Astana International Financial Center (AIFC) benefit from significant tax breaks, including exemptions from corporate income tax and personal income tax for employees. 

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How to Buy Bitcoin in Kazakhstan

If you’re just starting with crypto in Kazakhstan, buying Bitcoin is straightforward. Here’s a quick guide to get you going:

1. Set Up an Account: Choose a reputable crypto exchange that supports Kazakhstani tenge (KZT) deposits. Sign up and complete the ID verification process, which usually involves uploading an ID and proof of address. 
2. Deposit Kazakhstani Tenge: Once your account is verified, head to the deposit section, select KZT, and add the amount you want to invest. Most exchanges accept bank transfers or credit/debit cards for this step. 
3. Find Bitcoin: In the trading section, search for Bitcoin (BTC). You’ll see the current price for the KZT/BTC pair. You can either place a market order for an immediate purchase or a limit order if you’re waiting for a specific price. 
4. Make Your Purchase: After reviewing the details, including any fees, confirm your transaction by clicking 'buy.'

Now you’re ready to begin your Bitcoin journey in Kazakhstan’s expanding crypto market.

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Bottom Line

In conclusion, Kazakhstan's crypto scene is growing fast, backed by solid Astana Financial Services Authority (AFSA) regulations. With exchanges like Bybit, Binance, Gate.io, MEXC, and KuCoin offering everything from spot trading to high-leverage futures, traders have no shortage of options. Just keep an eye on the latest rules and tax policies to get the most out of your crypto experience here.