Best Crypto Exchanges in Thailand
Find the best crypto exchanges in Thailand and explore their regulatory frameworks, taxation policies, and secure trading practices.
Summary: In Thailand, trading Bitcoin and other cryptocurrencies operates under tight security and strict regulation, thanks to the oversight of the Thai SEC and the Ministry of Finance. These bodies are tasked with overseeing crypto exchanges to ensure their proper operation. Investors have a range of Thai Baht (THB) deposit options, including local bank transfers, PromptPay, and True Money, in addition to credit and debit cards.
Our team has conducted detailed research to identify the top five cryptocurrency platforms in Thailand. This guide is aimed at those interested in entering the digital asset market, providing information on the most reliable and reputable platforms currently available.
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Best Cryptocurrency Exchanges Thailand
After evaluating over 20 cryptocurrency exchanges, we've identified the top platforms for Thai investors. Our criteria focused on compliance with Thailand's SEC regulations, cryptocurrency variety, ease of use, Thai Baht deposit options, and transaction costs. From our research, we present a selected list of the top five cryptocurrency platforms in Thailand, designed for investors looking for secure and effective trading opportunities.
1. Bybit
Bybit is the best cryptocurrency exchange in Thailand and is considered the best throughout Asia, boasting over 30 million users. This platform ensures a secure trading environment with access to over 1,000 cryptocurrencies, all while adhering to Thailand's strict regulatory standards. Bybit makes starting cryptocurrency trading straightforward, supporting local THB deposit methods such as bank transfers, True Money, Line and other popular options.
The exchange offers a wide array of trading options, including a vast selection of cryptocurrencies, staking, and futures trading with leverage of up to 100x. Bybit's strengths include competitive trading fees, starting at 0.01% for market makers and 0.06% for takers, high liquidity, daily trading volumes exceeding $30 billion, and a strong global community of over 20 million users. These features solidify its position as a leader in the market.
- Fees: Market maker fee of 0.01% and taker fee of 0.06%.
- Supported Cryptocurrencies: Offers an extensive range of over 1,000 digital assets.
- Regulation & Licensing: Operates in full compliance with Thailand's regulatory framework to ensure a secure trading experience.
- THB Deposit Methods: Features a variety of local deposit options, facilitating easy and straightforward investments.
2. OKX
With its headquarters in Hong Kong and a clientele surpassing 10 million users, OKX stands out as a prominent cryptocurrency exchange that caters to investors in Thailand. It offers a diverse range of digital currencies for buying, selling, trading, and staking, complemented by competitive fees and tight spreads. Beyond the standard functionalities, OKX has carved out its niche with advanced features like futures trading, options trading, and an enticing NFT marketplace.
One distinguishing feature for Thai investors is the enticing APY on stablecoins, reaching up to 5%, marking a splendid avenue for enhanced returns in Thailand. Given its endorsement by top-tier sports entities such as Manchester City and McLaren Formula 1, OKX has cemented its status as a credible and renowned name in the crypto sphere. It continues to be a firm favorite, clinching the spot as the second-best crypto exchange in Thailand.
- Fees: Free THB deposits and 0.1% withdrawal fees. 0.1% spot trading fees.
- Supported Cryptocurrencies: Trade 300+ Cryptocurrencies & stake 200+ tokens.
- Regulation & Licensing: OKX is registered in Hong Kong and Malta, and provides proof of reserves.
- THB Deposit Methods: Credit/Debit Card, Thai QR, PromptPay, K-Bank & True Money.
3. Gate.io
Gate.io is ranked as the third-best cryptocurrency exchange in Thailand, notable for its extensive array of altcoins. It caters to Thai investors with an impressive lineup of over 1,700 cryptocurrencies, positioning itself as a prime choice for those seeking exposure to a diverse range of digital assets. Gate.io is particularly attractive for its competitive transaction fees, which start at just 0.1% for spot trades.
Boasting a 24-hour trading volume exceeding $5 billion and a global user base of over 14 million, Gate.io commands a prominent place in the international cryptocurrency space. The platform elevates the trading experience for users with advanced features like automated trading bots and a specialized startup section. These unique offerings provide traders with various market opportunities, including special trading events and contests tailored for the Thai market.
- Fees: Competitive pricing with maker orders beginning at 0.1% and taker orders at 0.2%.
- Supported Cryptocurrencies: A vast selection of more than 1,700 digital assets.
- Regulation & Licensing: Based in the Seychelles, Gate.io is accessible to Thai users, though not directly licensed in Thailand.
- THB Deposit Methods: Includes various options such as local bank transfers, and debit and credit cards.
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4. Bitkub
Positioned in the vibrant city of Bangkok, Bitkub is Thailand's leading homegrown cryptocurrency exchange, acclaimed for its strong legal standing with the Thai SEC. This distinction assures users of unmatched credibility and security. Committed to safeguarding user assets, Bitkub implements advanced security measures like robust wallet storage and Two-Factor Authentication.
Bitkub is celebrated for its broad cryptocurrency portfolio, featuring an impressive array of 100 digital assets for trading. This extensive range caters to both experienced traders and newcomers to the cryptocurrency world. Leveraging its local insight and comprehensive offerings, Bitkub has rightly earned its place as the fourth-best cryptocurrency exchange in Thailand.
- Fees: Free deposits, with THB withdrawals incurring a fee of 20 - 200THB based on the method. Crypto withdrawals have a nominal fee. Trading fees are set at 0.25%.
- Supported Cryptocurrencies: Offers a selection of 100 cryptocurrencies.
- Regulation & Licensing: Compliant and registered with the Thai SEC.
- THB Deposit Methods: Primarily Bank Transfer.
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5. Binance
Binance, renowned for its extensive global reach, is the fifth choice among cryptocurrency exchanges in Thailand. With over 120 million users across more than 100 countries, the platform offers a diverse range of trading options, including spot, futures, margin, and options trading, alongside staking services and its own decentralized exchange (DEX). Its dedication to customer care is evident through 24/7 support in multiple languages, including Thai and English.
A key distinguishing feature of Binance is its exceptional liquidity depth, which leads to high trading volumes across various digital assets. This liquidity is a major advantage for executing smooth trades, even with large transaction volumes, making it a popular choice for Thai crypto traders.
- Fees: Deposit and withdrawal fees range from 0.5% to 4%, depending on the method. The spot trading fee stands at 0.1%, with a future maker/taker rebate of 0.02%/0.06%.
- Supported Cryptocurrencies: Over 300 cryptocurrencies available for trading and over 100 tokens for staking.
- Regulation & Licensing: Regulated globally but is not licensed by the Thai SEC. It is still available to users in Thailand.
- THB Deposit Methods: Bank Transfer is a primary option.
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Is Crypto Regulated in Thailand?
In Thailand, the government's attitude towards cryptocurrency is generally positive, recognizing its potential to diversify business investments and contribute to national development. However, there is a cautious approach to its impact on the nation's financial stability and public welfare. Notably, the Thai government collaborates with the Bank of Thailand on projects like Project Inthanon, which explores the development of a Central Bank Digital Currency (CBDC) for both wholesale and potentially retail use.
Cryptocurrency regulation in Thailand is primarily governed by the Emergency Decree on Digital Asset Businesses B.E. 2561 (2018) and related regulations from the Ministry of Finance and the Securities and Exchange Commission (SEC). The SEC, effective April 2022, has directed digital asset business operators to refrain from using cryptocurrencies as payment for goods and services, focusing on protecting consumers and preventing potential misuse.
This regulatory framework demonstrates Thailand's commitment to a controlled yet forward-looking approach to digital assets. The SEC's guidelines aim to balance innovation and investment in the blockchain and cryptocurrency sectors with the need for consumer protection and maintaining financial stability.
How is Crypto Taxed in Thailand?
In Thailand, cryptocurrency and digital token transactions are subject to taxation. Gains from holding or transferring cryptocurrency are considered taxable income, with a specific 15% withholding tax applied to digital assets paid as income. However, certain exemptions exist: cryptocurrency transactions on licensed digital asset exchanges and digital currency transfers issued by the Bank of Thailand (between April 2022 and December 2023) are exempt from value-added tax (VAT).
Additionally, a proposed Emergency Decree, pending official publication, plans to exempt corporate income tax and VAT for specific digital asset transactions, broadening the tax relief for cryptocurrency dealings.
Bottom Line
In summary, Thailand's approach to cryptocurrency trading is characterized by robust security and stringent regulations, overseen by the Thai SEC and the Ministry of Finance. This ensures the safe operation of exchanges and a variety of deposit options for investors, enhancing the reliability of crypto trading in Thailand.
Our detailed analysis has identified Bybit as the best overall exchange, with OKX, Gate.io, Bitkub, and Binance rounding out the top five, each offering unique features and complying with regulatory standards. This selection provides Thai investors with secure and efficient platforms for engaging in the digital asset market.
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