Best Crypto Exchanges Vietnam

Best Cryptocurrency Exchanges in Vietnam

After evaluating the 19 cryptocurrency exchanges offering services in Vietnam, we have identified the leading options. Our review focused on compliance with the State Bank of Vietnam's guidelines, transaction fees, supported cryptocurrencies, and Vietnamese Dong (VND) deposit methods. Below is a comparison of the five best exchanges for Vietnamese traders.

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1. Bybit

Bybit is the top crypto exchange in Vietnam as it provides free VND deposits through local methods like VietQR, ViettelPay, Momo, Google Play, and GEOpay. The interface is accessible in Vietnamese, and it provides live customer support in the language. It has over 40 million registered users globally and handles a daily trading volume exceeding $25 billion. 

There are over 1,400 digital assets for trading on spot, futures and options markets with up to 100x leverage supported. It has various features, including staking options, lending and borrowing services, an NFT marketplace, copy trading, a practice account and a crypto debit card. This diversity caters to different investment and trading strategies. 

• Fees: Maker fee at 0.02% and taker fee at 0.055% for futures, plus a 0.1% fee for spot trading.
• Supported Assets: Access to over 1,400 digital assets.
• Regulation & Licensing: Regulated across Asia and available in Vietnam.‍
• VND Deposit Methods: Bank transfers, ViettelPay, Momo, VietQR, Google Pay, GEOpay, Apple Pay, VNPay, UPI, credit cards and debit cards.

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2. Binance

Binance is the largest cryptocurrency exchange globally and a popular choice for Vietnamese traders. One of the most popular features of the platform is the copy trading service, which allows you to mimic the trades of successful investors, and there are over 210 million users. It supports a wide selection of over 350 cryptocurrencies to trade on spot and futures markets.

With a daily trading volume that regularly exceeds $60 billion, Binance offers one of the most liquid markets in the world, making it ideal for high-volume traders. In addition to its extensive trading options, there's a variety of financial services like savings accounts, lending, staking and a launchpad for new projects. As a global platform, it can also be used in Vietnamese.

• Fees: Spot trading is a 0.1% fee, and the maker/taker rebate for futures is 0.02% and 0.06%.
• Supported Assets: 350+ Cryptocurrencies.
• Regulation & Licensing: Globally licensed and available to Vietnamese investors.‍
• VND Deposit Methods: Bank transfers, credit cards and debit cards.

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3. OKX

OKX is an excellent choice for Vietnamese traders looking for high staking rewards and advanced trading features. The platform supports 350 cryptocurrencies and offers some of the most competitive staking rewards in the industry with returns up to 230% APY. It also provides futures, options, and margin trading, with leverage up to 100x.

Apart from trading, OKX offers a comprehensive DeFi ecosystem, including its own blockchain - OKT Chain, native token - OKB Coin, in-built wallet - OKX Wallet, plus lending services, and a marketplace for NFTs. Its simple interface and advanced security measures make it a preferred platform for Vietnamese users looking to maximise their crypto investments.

• Fees: 0.1% for makers and 0.2% for takers. Flat 0.1% fee for instant spot trading.
• Supported Assets: Over 300 cryptocurrencies.
• Regulation & Licensing: Regulated by VARA (Dubai), SFC (Hong Kong) and available in Vietnam.‍
• VND Deposit Methods: Bank transfer, ViettelPay, debit card, and credit card.

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4. BitcoinVN

BitcoinVN is the country’s largest native exchange that is based in Ho Chi Minh City. It was founded in late 2013 by founders Nguyen Tran Bao Phuong and Dominik Weil, who are of Vietnamese and German descent respectively. It supports 85 cryptocurrencies for buying and trading on spot markets but does not support futures trading. 

The platform is known for its focus on security and transparency, making it a trusted choice for many Vietnamese traders. BitcoinVN offers various services, including OTC trading, remittance solutions, and a crypto wallet service. Its deep integration with the local financial ecosystem allows for smooth VND transactions.

• Fees: 0.05% taker fee and 0.03% maker fee.
• Supported Assets: Over 85 cryptocurrencies.
• Regulation & Licensing: Regulated by the State Securities Commission of Vietnam (SSC).‍
• VND Deposit Methods: Bank transfer, credit card, and e-wallets such as MoMo and Vietcombank.

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5. Gate.io

Gate.io has the most diverse selection of cryptocurrencies, with over 2,100 digital assets available for trading, making it a great option for Vietnamese users seeking variety. The exchange provides a wide range of trading options, including spot trading, margin trading, and perpetual contracts. It also offers staking, lending, and a launchpad for new tokens.

Established in 2013, Gate.io has become one of the most trustworthy trading platforms globally.  It is committed to security and offers an insurance fund to protect user assets plus provides transparency in its asset holdings. The platform’s user-friendly interface and extensive educational resources make it accessible to both new and experienced traders in Vietnam.

• Fees: 0.1% for spot markets, a maker fee of 0.02% and a taker fee of 0.06% for futures.
• Supported Assets: Over 2,100 cryptocurrencies.
• Regulation & Licensing: Not regulated in Vietnam but allowed to operate in the country.
• VND Deposit Methods: Bank transfer, credit cards and debit cards.

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Is Crypto Regulated in Vietnam?

Cryptocurrency regulation in Vietnam remains a complex and evolving issue, marked by a lack of a clear and comprehensive legal framework. Digital assets are not recognised as legal means of payment, currency, or assets under Vietnamese law. The State Bank of Vietnam (SBV) has prohibited use of cryptocurrencies as a legal form of payment. 

While these digital currencies are often used for investment purposes, they exist in a regulatory grey area that poses significant challenges for both regulators and market participants. Despite the prohibitive measures, there is no outright ban on holding or trading cryptocurrencies, which creates a sense of ambiguity in the market. 

As the crypto market in Vietnam continues to grow, there is an increasing need for clarity in regulations. According to the Government Decision 194/QĐ-TTg dated February 23, 2024, the Ministry of Finance will develop a legal framework to regulate crypto assets in May 2025 with an aim to combat money laundering. Until such regulations are established, the legal standing of cryptocurrencies in Vietnam will remain uncertain, complicating compliance efforts.

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How is Crypto Taxed in Vietnam?

In Vietnam, the taxation of cryptocurrencies remains undefined, as digital currencies are not yet fully regulated or recognised by the government. Currently, there are no specific tax laws that directly address cryptocurrency transactions. This situation is being addressed as the State Bank of Vietnam, following instructions from Prime Minister Phạm Minh Chính, is in the process of creating guidelines. 

Vietnamese citizens involved in crypto transactions are encouraged to maintain thorough records of their activities and consider reporting any earnings in their annual tax filings. As Vietnam continues to navigate the regulatory landscape for digital assets, it is expected that more explicit tax policies will emerge, likely aligning with international standards while addressing local economic conditions.

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How to Buy Bitcoin in Vietnam

For those in Vietnam who are new to cryptocurrency, purchasing Bitcoin through a reputable digital asset exchange is an essential first step. Here’s a simple guide to help you get started:

1. Create an Account: Start by choosing an exchange that supports VND deposits. Sign up for an account and complete the verification process, which typically includes submitting a photo ID and additional documents, such as a selfie or proof of address.
2. Deposit Vietnamese Dong (VND): Navigate to the deposit section of your account, select VND as your deposit currency, and enter the amount you want to transfer. Deposits are typically made via bank transfer, mobile payment services, or credit card.
3. Choose Bitcoin: In the trading section of the platform, search for Bitcoin (BTC). Look for the VND/BTC trading pair to view the current market rate. You can place different types of orders, such as market or limit orders, depending on your trading strategy.
4. Execute the Trade: When you’re ready, click ‘buy’ or ‘trade’ to purchase Bitcoin. Review all order details carefully, including the price and any associated fees, before finalising the transaction.

This guide offers a straightforward approach for users in Vietnam to start trading Bitcoin, from setting up an account to making your first purchase.

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Bottom Line

In conclusion, Vietnam's crypto market is rapidly expanding, with millions of citizens actively participating in digital asset trading. Despite the regulatory ambiguity, major global and local exchanges like Bybit, Binance, OKX, BitcoinVN, and Gate.io have made it easier for Vietnamese users to engage in crypto activities, offering a range of features and services tailored to different trading needs.