Top Crypto Trading Platforms in Uzbekistan

Crypto trading in Uzbekistan has steadily advanced since the government established clear regulatory frameworks in early 2023. The National Agency of Perspective Projects (NAPP) oversees the licensing of crypto exchanges, ensuring compliance with local laws. Below is a comparison table of the top five digital asset exchanges for Uzbek traders accepting deposits in Uzbekistani Som (UZS).

1. Kraken

Kraken is Uzbekistan’s top crypto exchange, trusted for its exceptional security measures. Established in 2011, it now supports over 10 million clients across 190 countries, boasting a quarterly trading volume exceeding $207 billion. It provides access to over 390 digital assets for spot and futures trading.

There is a comprehensive suite of products, including spot and margin trading with leverage of up to 5x through Kraken Pro, a specialized platform featuring advanced analytics. Institutional investors also gain access to OTC trading services, API trading integrations, and dedicated account management.

Additionally, it offers crypto staking programs with attractive annual returns of up to 10% APR, quick currency conversions, and recurring buy options for systematic investment strategies. Users appreciate the transparent operations, reinforced through routine proof-of-reserves audits and live customer support.

Platform Highlights:

• Fees: Maker fees start at 0.16%, and taker fees start at 0.26%.‍
• Supported Assets: Over 390 cryptocurrencies.
• Regulation & Licensing: Operates in compliance with Uzbekistan's National Agency of Perspective Projects (NAPP) regulations.
• UZS Deposit Methods: Bank transfers, Apple Pay, Google Pay and credit or debit cards.

2. OKX

OKX is recommended for those interested in exploring decentralized finance (DeFi). The platform is home to over 50 million clients across Uzbekistan and 180 other countries. Due to its widespread availability, it facilitates UZS deposits from local banks, such as NBU, Uznaftbank and Agrobank.

For traders looking to capitalize on market fluctuations, OKX provides sophisticated trading products, including perpetual futures contracts, expiry futures, and crypto options with up to 100x leverage. The exchange also integrates with TradingView, allowing chart-driven trading decisions. 

Beyond trading, it supports crypto activities like earning yields, borrowing against crypto holdings, and discovering innovative blockchain projects. Uzbek users interested in Web3 have full access to DApps through the OKX Wallet, which is built on the exchange’s network, OKT Chain.

Platform Highlights:

• Fees: Maker fees start at 0.08%, and taker fees start at 0.1%.
• Supported Assets: Over 350 cryptocurrencies.
• Regulation & Licensing: Globally regulated and available in Uzbekistan.
• UZS Deposit Methods: Bank transfers, credit cards and debit cards.

3. Binance

Binance is the world’s largest cryptocurrency exchange, serving over 267 million registered users across 180 countries and supports 40 languages, including Uzbek. Traders prefer it due to its vast crypto selection, consistently low fees, and copy trading services with thousands of professional traders.

The exchange provides users access to an extensive suite of trading services, including spot markets, margin trading, and futures contracts with up to 100x leverage. Traders can easily engage with Binance’s P2P marketplace for secure and direct cryptocurrency transactions using Uzbekistani Som (UZS). 

Binance Earn also allows investors to generate passive returns through crypto staking, yield farming, lending, borrowing and savings products. Additional features include a Launchpad, offering early access to emerging tokens, trading bots, airdrop programs and an integrated NFT marketplace.

Platform Highlights:

• Fees: Spot trading fees start from just 0.1%, with additional discounts using BNB tokens.
• Supported Assets: Over 350 cryptocurrencies.
• Regulation & Licensing: Binance has been approved by the NAPP to operate under COINPAY LLC.
• UZS Deposit Methods: Bank transfers, credit/debit cards, and peer-to-peer (P2P) payment options.

4. Gate.io

Gate.io is gaining popularity in Uzbekistan due to its unmatched selection of over 3,800 cryptocurrencies. Established in 2013, it has 22 million registered clients worldwide, handling substantial daily trading volumes of $25 billion across both spot and futures order books.

Investors can trade using various methods, including spot trading, leveraged ETFs, margin trading, and futures contracts. There are also useful trading tools, such as Spot Grid, Spot Martingale and Infinite Grid trading bots. Users can discover promising new blockchain projects through Gate’s Pilot program.

The platform further enriches the trading experience through Web3 tools, decentralized wallets, cross-chain swaps, and aggregated DeFi staking products. Users can conveniently manage and utilize their crypto assets with Gate Pay and Gate Card, facilitating seamless payments worldwide. 

Platform Highlights:

• Fees: Spot trading fees start from 0.2%.
• Supported Assets: Over 3,800+ cryptocurrencies.
• Regulation & Licensing: Not regulated.
• UZS Deposit Methods: Credit cards and debit cards.

5. Bitget

Bitget has quickly become a favored crypto exchange among traders in Uzbekistan, particularly renowned for its exceptional spot, futures, and bot copy trading features. Launched in 2018, Bitget now boasts over 100 million global users, handling more than $45 billion in daily trading volume. 

The standout feature is the copy trading platform, offering access to more than 200,000 top-tier traders whose strategies can be automatically replicated. It also provides spot trading, futures contracts with leverage, margin trading, demo trading and strategic automated trading bots. 

Security is a significant priority for Bitget, demonstrated by its $536 million Protection Fund, proof-of-reserves audits guaranteeing full backing of customer funds, and secure cold storage solutions. Uzbek traders benefit from the platform’s ease of use, which is accessible via intuitive mobile and desktop apps.

Platform Highlights:

• Fees: Spot trading fees are 0.1%.
• Supported Assets: Over 800 cryptocurrencies.
• Regulation & Licensing: Fully compliant internationally.
• UZS Deposit Methods: Credit/debit cards.

Is Crypto Regulated in Uzbekistan?

Uzbekistan has established a comprehensive regulatory framework for cryptocurrencies. The National Agency of Perspective Projects (NAPP) is the sector's primary regulatory authority.  As of January 1, 2023, Uzbek residents can conduct crypto transactions exclusively through Virtual Asset Service Providers (VASPs) that have secured the necessary licenses from NAPP.

The NAPP has demonstrated a proactive stance in regulating the crypto market. In December 2022, the agency warned foreign VASPs about the necessity of complying with local licensing requirements. By 2024, this approach intensified, with NAPP conducting inspections and taking legal actions against unlicensed foreign CASPs operating within the country.

In March 2024, NAPP signed a Memorandum of Understanding with Tether, a prominent stablecoin issuer. This collaboration aims to explore and promote the development of blockchain technologies, stablecoins, and digital asset tokenization in Uzbekistan. 

How is Crypto Taxed in Uzbekistan?

All cryptocurrency transactions conducted by individuals and legal entities, including non-residents, are exempt from taxation in Uzbekistan. The State Tax Committee states that income generated from these operations is not included in the taxable base. ​

To promote the use of renewable energy in cryptocurrency mining, the Uzbek government offers specific incentives:​

• Solar-Powered Mining: Companies that utilize solar energy for mining operations are exempt from income tax and benefit from reduced electricity rates. ​
• Alternative Energy Usage: Miners connected to the power grid are subject to double the regular electricity rates, with potential surcharges during peak consumption periods. ​

These tax policies and incentives highlight Uzbekistan's commitment to creating a supportive and regulated environment for cryptocurrency activities.

Cryptocurrency Adoption in Uzbekistan

Uzbekistan's cryptocurrency market is expanding rapidly, with revenues projected to reach approximately US$54.8 million by mid-2025. By the same year, around 1.42 million or 3.93% of the population is expected to engage in cryptocurrency transactions. 

This growth is driven by clear governmental regulation and strategic support from the National Agency of Perspective Projects (NAPP), which oversees licensing and compliance within the country's crypto sector. 

Increasingly accessible domestic cryptocurrency exchanges and trading platforms and a favorable regulatory environment have accelerated digital asset investments nationwide.

How to Buy Bitcoin in Uzbekistan

Uzbek investors looking to trade BTC must choose regulated crypto exchanges licensed by the National Agency of Perspective Projects (NAPP). Here’s a simple guide to buying Bitcoin securely in Uzbekistan:

1. Select an Exchange: Choose licensed crypto platforms available in Uzbekistan, ensuring they support deposits in Uzbekistani Som (UZS).
2. Create Account: Sign up for an account on your selected exchange. Complete mandatory identity verification procedures by providing valid personal identification and proof of your residency.
3. Fund Your Account: Deposit funds into your account using approved local payment methods, such as bank transfers or supported payment services.
4. Buy Bitcoin: Navigate to the exchange’s Bitcoin purchase page, enter the amount of BTC you wish to acquire, carefully review your transaction details, and confirm the purchase.

These clear steps enable Uzbek users to buy Bitcoin through fully compliant local crypto exchanges.

Final Thoughts

Crypto adoption in Uzbekistan is gaining momentum, supported by strong regulatory oversight and reputable exchanges tailored to local investors. For Uzbek investors, choosing exchanges licensed by the National Agency of Perspective Projects (NAPP) ensures compliance. 

Whether you're interested in advanced platforms like Kraken, Binance, and OKX or prefer exploring Gate.io’s extensive crypto options or Bitget’s innovative copy trading, always verify the exchange’s regulatory status before investing.