Best Crypto Exchanges Vietnam
Explore the best crypto exchanges in Vietnam, featuring diverse VND payment options and extensive asset choices.
Summary: Vietnam is making its mark in the Asian cryptocurrency world, supported by regulatory oversight from the State Bank of Vietnam. This secures the operations of digital currency exchanges across the nation. Vietnamese investors can conveniently fund their platform accounts in VND using methods like bank transfers, credit cards, and mobile payments.
For Vietnamese traders new to digital currency trading, we have compiled a list of the top 5 cryptocurrency investment platforms in Vietnam:
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Best Cryptocurrency Exchanges in Vietnam
After reviewing over 15 digital currency platforms, we've compiled a list of the leading exchanges for investors in Vietnam. Our evaluation criteria include regulatory compliance with the State Securities Commission of Vietnam (SSC), a wide selection of cryptocurrencies, user experience, VND deposits, transparent fee structures, and other features. This comparison table gives further insight into the 5 best trading platforms for Vietnamese investors:
1. Bybit
Bybit is the premier cryptocurrency exchange in Vietnam with over 28 million registered users and a multilingual interface available in Vietnamese. It boasts a vast selection of over 1,100 digital assets, which can be traded on spot and futures markets with leverage up to 100x supported on derivatives and options contracts. Several local payment methods are available, such as bank transfers, VietQR, ViettelPay, Momo, Google Play, and GEOpay.
The platform 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, making it attractive to a wide audience. One of its key strengths is its regularly published proof-of-reserves which provides transparency in its asset holdings, proving all users' funds are backed 1:1 on the exchange.
- Fees: Maker fee at 0.02% and taker fee at 0.055% for futures plus 0.1% for spot trading.
- Supported Cryptocurrencies: Access to over 1,100 digital assets.
- Regulation & Licensing: Adheres to international regulatory standards, ensuring a secure trading environment in Vietnam.
- VND Deposit Methods: Bank transfers, ViettelPay, Momo, VietQR, Google Pay, GEOpay, credit cards and debit cards.
2. Binance
Binance is a cryptocurrency exchange with over 190 million registered users in Vietnam and 100 other countries and has live customer support in Vietnamese. It offers multiple order types, which include spot, futures, margin, and options trading with up to 50x leverage through its interface or inbuilt decentralized exchange (DEX). As the world’s largest crypto investment platform, it provides deep liquidity and instant trade execution.
It distinguishes itself from its competitors through its substantial liquidity depth, flaunting the most considerable volumes across 350 digital assets. This distinctive attribute grants users the advantage of seamless transactions, even for high-volume trades. Aside from trading, it has various Web3 services like on-chain staking, an NFT marketplace, a crypto wallet and its native blockchain, BNB Chain.
- Fees: Spot trading is a 0.1% fee and the maker/taker rebate for futures is 0.02% and 0.055%.
- Supported Cryptocurrencies: 350+ Cryptocurrencies.
- Regulation & Licensing: Globally licensed and available to investors in Vietnam.
- VND Deposit Methods: Bank transfers, credit cards and debit cards.
3. OKX
OKX showcases sophisticated trading instruments, a vast range of 350 cryptocurrencies, and competitive transaction charges. It accommodates diverse trading instruments such as futures, options, and margin trading with up to 100x leverage, offering institutional investors enhanced flexibility and risk management opportunities. The exchange also has an OTC desk that offers white-glove services and onboarding for family offices and institutions.
The platform's unwavering commitment to safety shines through its provision of the safest and most well-audited reserves. Alongside its robust security measures, the platform's adherence to regulatory compliance and its comprehensive API services make it an appealing choice for Vietnamese institutional investors in pursuit of a dependable and technologically adept platform.
- Fees: 0.1% for makers and 0.2% for takers. Flat 0.1% fee for instant spot trading.
- Supported Cryptocurrencies: 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.
4. BitcoinVN
BitcoinVN was founded in late 2013 by a team from Vietnam and Germany and is the country’s largest local exchange. It acts as a crucial bridge between the traditional fiat economy and the growing digital currency market. Inspired by Satoshi Nakamoto's vision, BitcoinVN, under the guidance of founders Nguyen Tran Bao Phuong and Dominik Weil, aims to democratize access to the global peer-to-peer economy for Vietnamese residents.
Since its launch, BitcoinVN has played a key role in familiarizing the public with the Bitcoin ecosystem, streamlining the process of exchanging, receiving, and holding digital currencies. Its accessible platform, BitcoinVN.io, facilitates smooth transactions across 85 different assets, including the Vietnamese Dong, enhancing user convenience with options for cash and bank wire transfers.
- Fees: Maker-taker model with a 0.05% taker fee and 0.03% maker fee.
- Supported Cryptocurrencies: 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.
5. Gate.io
Gate.io was established in 2013 and has grown to become one of the leading global exchanges with a remarkable 24-hour trading volume of $5 billion and user base of 14 million. The platform facilitates the trading of over 1,700 cryptocurrencies, providing users with an unmatched selection. It stands out for its user-friendliness, offering easy and quick registration via email or phone, and simplifying the set up process.
Apart from boasting a rich portfolio of cryptocurrencies, Gate.io is noted for its innovative product ecosystem. It includes features like spot, margin, and ETF trading, offering a versatile trading experience. The platform also provides perpetual futures with high-leverage options up to 100x supported, amplifying potential earnings. In addition to these, Gate.io takes pride in offering advanced trading bots with various quantitative strategies.
- Fees: 0.1% for spot markets, a maker fee of 0.02% and a taker fee of 0.06% for futures.
- Supported Cryptocurrencies: Over 1,700 cryptocurrencies.
- Regulation & Licensing: Not regulated in Vietnam but allowed to operate in the country.
- VND Deposit Methods: Bank transfer, P2P trading, credit cards and debit cards.
Is Crypto Legal in Vietnam?
The legal status of cryptocurrencies in Vietnam is fairly intricate. The State Bank of Vietnam, which acts as the central financial authority, hasn't recognized cryptocurrencies as an official payment method. As a result, using them for transactions isn't approved, rendering these transactions unprotected by Vietnamese laws.
However, this doesn't imply that owning or trading crypto is illegal. Individuals and businesses can still participate in cryptocurrency activities but should stay cautious and keep updated on regulatory changes. Several government bodies, including the Ministry of Finance and the Ministry of Justice, are actively working to develop a regulatory framework that could govern cryptocurrency operations in the country.
How is Crypto Taxed in Vietnam?
Cryptocurrencies are not currently taxed in Vietnam, illustrating the government's decision not to recognize them as legal tender. This absence of tax arises from the lack of a legal structure to classify digital assets for taxation.
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. These upcoming regulations are expected to establish tax policies and protections for users, aiming to foster a safer and more regulated environment for cryptocurrency trading and investment. This development could enhance trust and widen acceptance among both individual and corporate investors.
Bottom Line
In conclusion, Vietnam is advancing in its approach to cryptocurrency, diligently working to integrate nuanced regulations and supervision from authoritative bodies like the State Bank of Vietnam. For investors and traders, platforms like Bybit, Binance, OKX, BitcoinVN, and Gate.io offer a secure way to diverse investment opportunities compliant with local regulatory standards.
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