Summary: Thailand is experiencing a significant increase in crypto interest, supported by the country's financial regulator, the Thai Securities and Exchange Commission (SEC). As the crypto market expands, the government actively works to ensure transparency. This regulatory framework lets investors purchase digital assets directly with Thai Baht (THB) through local methods.
To help those new to digital asset trading, we have curated a list of the top five exchanges that accept THB deposits:
Bybit is the top platform for Thailand due to its deep understanding of local investor needs, diverse THB deposit options, and robust trading features tailored to the Thai market.
1,200+ Cryptocurrencies via Spot, Options and Futures.
Free THB Deposits & 0.1% Trading Fees.
Bank Transfers, Credit Cards, True Money & more.
Best Cryptocurrency Exchanges Thailand
Following an analysis of the 19 digital asset exchanges available in Thailand, we have identified the best options for locals. Our evaluation focused on compliance with Thai Securities and Exchange Commission (SEC) regulations, the range of supported cryptocurrencies, THB deposit options, features, and fee structures. Below is a comparison table of the top 5 platforms for Thai investors.
1. Bybit
Bybit is the best crypto exchange in Thailand, with a user base exceeding 32 million and a daily trading volume of $25 billion. This platform provides quick registration and simplifies the deposit process, supporting local THB methods such as bank transfers, True Money, and LinePay. Over 1,200 digital assets can be traded on spot and futures markets with 100x leverage.
The exchange offers diverse investment options with staking, lending and borrowing services available. The interface can also be used in Thai and provides live customer support in the language. Bybit's strengths include competitive trading fees, high liquidity, regularly updated proof-of-reserves and unique features, making it a popular option amongst local investors.
- Fees: Maker fee of 0.02% and taker fee of 0.055% for futures. Spot trading is 0.1%.
- Supported Assets: Over 1,200 digital assets.
- Regulation & Licensing: Globally regulated and fully compliant with Thailand's regulations.
- THB Deposit Methods: Bank transfers, credit cards, debit cards, Apple Pay, Google Pay, LinePay, Samsung Pay, KBank and True Money.
2. MEXC
MEXC has gained popularity in Thailand because of its extensive futures trading options, providing traders with a wide range of 800 digital assets and competitive leverage. The platform supports derivatives trading with up to 200x leverage and offers a variety of trading tools, including technical analysis features and advanced charting tools.
It also provides spot trading and staking services, making it a versatile platform for different trading strategies. The platform is known for its focus on customers, offering detailed tutorials and 24/7 customer support in Thai. MEXC is designed for traders of all experience levels, with a straightforward registration process and multiple THB deposit options.
- Fees: There are no maker fees. The taker fee is 0% for spot and 0.01% for derivatives. A small spread is applied to every trade, which can be reviewed before trade execution.
- Supported Assets: Over 800 cryptocurrencies.
- Regulation & Licensing: Compliant with the SEC.
- THB Deposit Methods: Bank transfers, QR code payments, and credit cards.
3. Gate.io
Gate.io is one of the largest exchanges globally, serving over 16 million registered users in Thailand and 180 other countries. It caters to Thai investors with an impressive collection of over 2,100 cryptocurrencies to trade on spot and futures markets, positioning itself as a prime choice for those seeking exposure to diverse digital assets.
With a 24-hour trading volume exceeding $8 billion across both order books, Gate.io provides deep liquidity to its users. The platform elevates the trading experience with advanced features like automated trading bots, staking options, a crypto debit card and a startup section. These unique offerings provide traders with various market opportunities.
- Fees: Maker orders begin at 0.1% and taker orders at 0.2%.
- Supported Assets: More than 2,100 digital assets.
- Regulation & Licensing: Accessible to Thai users but not directly licensed in Thailand.
- THB Deposit Methods: Bank transfers and debit or credit cards.
4. Bitkub
Bitkub is based in Bangkok and is considered Thailand's leading local crypto 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.
It is a legally registered business with a capital of 450 million baht. It has over 4.5 million Thai users who can access a diverse cryptocurrency portfolio featuring 136 digital assets for trading. Leveraging its local insight and comprehensive offerings, Bitkub has rightly earned its place as one of the best exchanges in Thailand.
- Fees: Trading fees are set at 0.25%.
- Supported Assets: 136 cryptocurrencies.
- Regulation & Licensing: Regulated and registered with the SEC.
- THB Deposit Methods: Bank transfer.
5. Binance
Binance is the largest cryptocurrency exchange in the world, with over 210 million users across Thailand and 100 other countries. The platform offers diverse trading options, including spot, futures, margin, and options trading, alongside staking services and its decentralized exchange. Its dedication to customer care is evident through 24/7 support in Thai and 40 other languages.
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. Aside from trading, Binance also offers exposure to NFTs through its marketplace, staking services and crypto loans.
- Fees: Deposit and withdrawal fees range from 0.5% to 4%. The spot trading fee is 0.1%, with a futures maker/taker rebate of 0.02%/0.06%.
- Supported Assets: Over 350 digital currencies.
- Regulation & Licensing: Regulated by the SEC.
- THB Deposit Methods: Bank transfer or debit and credit cards.
Is Crypto Regulated in Thailand?
Thailand's regulatory landscape for crypto is becoming more accommodating, led by the Thai Securities and Exchange Commission (SEC). Under the Digital Asset Businesses Decree, the SEC regulates digital assets' sales, trading, and initial coin offerings (ICOs). All digital asset businesses in Thailand must obtain licenses and adhere to strict guidelines set by the SEC.
The recent regulatory update has lifted the investment cap for retail investors in asset-backed tokens, which previously stood at 300,000 baht per offering. This change is expected to open the market to a wider range of investors and support the development of Thailand's digital asset market.
Additionally, the SEC now mandates custodial wallet providers to be subsidiaries of publicly listed companies with proven security track records. This move aims to enhance investor protection and prevent conflicts of interest. The SEC also plays a more significant role in monitoring business expansions within the digital asset sector, ensuring compliance with regulatory standards.
How is Crypto Taxed in Thailand?
In Thailand, cryptocurrency earnings are considered taxable income, including gains from trading, mining, and staking, with a specific 15% withholding tax applied to digital assets paid as income. The Thai Revenue Department requires individuals to report these earnings, with tax rates based on total income.
A recent update removed the 7% value-added tax (VAT) on crypto transactions to support the sector's growth. While gains are taxable, losses cannot be carried forward to offset future gains. Tax filings for cryptocurrency activities must be completed by the end of March for the previous year's income, ensuring compliance with Thailand's tax regulations.
How to Buy Bitcoin in Thailand
If you're new to cryptocurrency investment in Thailand, it's important to understand how to purchase Bitcoin through a local digital asset exchange. Follow this guide to get started:
- Create an Account: Visit a reputable Thai exchange and sign up for an account. Complete the verification process by providing a photo ID and, if necessary, a selfie or proof of address.
- Deposit Thai Baht (THB): Navigate to the deposit section of your account, select THB as your deposit currency, and enter the amount you want to transfer. Complete the transaction using a bank transfer, True Money, LinePay or credit card.
- Choose Bitcoin: In the trading section, search for Bitcoin (BTC). Select the THB/BTC trading pair to view the current market rate. Review the trading options, including market and limit orders.
- Execute the Trade: Click 'buy' or 'trade' to purchase Bitcoin. Enter the amount of Bitcoin you want to buy or the THB amount you're willing to spend. Review the order details, including price and fees, and execute the trade.
This guide clearly explains how users in Thailand can begin trading digital currencies, covering every step from account setup to executing trades.
Bottom Line
In conclusion, Thailand's crypto market is expanding quickly, driven by clear regulations from the Thai SEC. Investors have multiple options with exchanges like Bybit, MEXC, Gate.io, Bitkub, and Binance, each offering unique features such as diverse assets and deep liquidity. Whether you're new to crypto or an experienced trader, these platforms provide secure and compliant trading experiences.