Note! Your Bitcoin will be in your wallet between a few minutes and a few hours. We do our best to deliver your BTC to you as quickly as possible, but there sometimes can be delays due to one of the following factors:
- Overloaded blockchain
- Bitcoin updates
- DDoS attack
That’s it – your BTC should be in your wallet shortly.
What Is Bitcoin?
Bitcoin is a digital currency that doesn’t need any bank or central authority. This is the first and most popular cryptocurrency, invented by someone under the pseudonym Satoshi Nakamoto in 2008. Unlike most traditional currencies (fiat currencies), BTC is completely virtual and has no physical coins or banknotes.
When you buy and sell Bitcoin, transactions are paired with private and public keys, which are long strings of numbers and letters, or QR codes. Public keys are needed to receive funds, and private keys allow users to sign transactions to spend their funds.
Is Bitcoin Legal in Thailand?
Yes. In fact, Thailand was one of the first countries in Asia to issue legislation that specifically addresses cryptocurrencies and digital assets. The goal at the time was to enforce the know-your-customer (KYC) process and suitability tests.
Thailand-based exchanges can only support buying and selling digital currencies for Thai Baht. As for international exchange platforms, there are no limitations.
Best exchanges to buy Bitcoin in Thailand
If you're looking to buy Bitcoin in Thailand, these are the best exchanges to do so. All of these exchanges allow you to buy Bitcoin with Thai Baht (THB). Some also allow for the purchasing of other cryptocurrencies like Ethereum (ETH) and Litecoin (LTC).
- Changelly is one of the most user-friendly platforms for cryptocurrency exchanges. The platform has a simple interface and is very easy to use. Changelly also offers a mobile app which makes it even more convenient to use the platform on the go.
- BX Thailand is one of the most popular Bitcoin exchanges in Thailand. It offers a wide variety of payment methods, including bank transfer, credit/debit card, and cash deposit. The exchange also offers a mobile app for trading on the go.
- Bitcoin Co. Ltd. is another popular Bitcoin exchange in Thailand that allows for the buying and selling of Bitcoin and other cryptocurrencies. They offer a wide variety of payment methods, including bank transfer, cash deposit, and credit/debit card.
- CampBX is an American Bitcoin exchange that also allows for the buying and selling of Bitcoin in Thailand. They offer a variety of payment methods, including bank transfer and credit/debit card.
- Coinbase is a popular cryptocurrency exchange that allows for the buying and selling of Bitcoin and other cryptocurrencies. They offer a variety of payment methods, including bank transfer, credit/debit card, and PayPal.
Best ways to buy Bitcoin in Thailand safely
How to buy Bitcoin with PayPal
If you're looking to buy Bitcoin with PayPal, you're in luck! There are a few different ways to go about this, and we'll walk you through the most popular options.
The first thing you'll need to do is set up a PayPal account if you don't already have one. You can do this by going to www.paypal.com and following the instructions on the site.
Once you have a PayPal account, you'll need to find a reputable Bitcoin exchange that accepts PayPal as a payment method. There are a few different exchanges that do this, so it's just a matter of finding one that works best for you. Some popular options include Coinbase, Kraken, and Bitstamp.
Once you've found an exchange that works for you, the process of buying Bitcoin with PayPal is pretty straightforward. You'll simply need to enter your PayPal information on the exchange's website and then follow their instructions for buying Bitcoin. In most cases, you'll be able to buy Bitcoin instantly with PayPal.
How to buy Bitcoin from ATM in Thailand
Assuming you already have a Bitcoin wallet set up, you can now buy Bitcoin from an ATM in Thailand. Here's how:
- Find a Bitcoin ATM in Thailand. There are several locations around the country, so finding one shouldn't be too difficult.
- Insert your cash into the ATM and select "Buy Bitcoin".
- Enter your Bitcoin wallet address. The ATM will then generate a QR code which you can scan with your wallet to receive the Bitcoin.
How to buy Bitcoin with cash in Thailand
In Thailand, there are a few ways to buy Bitcoin with cash. The most popular way is through a Bitcoin ATM. There are currently two Bitcoin ATMs in Thailand, both of which are located in Bangkok.
Another way to buy Bitcoin with cash in Thailand is through a local exchange such as Bitkub or BX.in.th. Local exchanges allow users to buy and sell Bitcoin with Thai Baht.
Finally, users can also buy Bitcoin directly from other people in Thailand through peer-to-peer (P2P) marketplaces such as LocalBitcoins.com. P2P marketplaces are online platforms that connect buyers and sellers of Bitcoin.LocalBitcoins.com is the most popular P2P marketplace in Thailand, with over 1,000 active traders.
How to buy Bitcoin with bank transfer in Thailand
Bank transfers are the most popular payment method in Thailand. The majority of exchanges in Thailand offer bank transfer as a payment option, and it is also one of the easiest and quickest ways to buy Bitcoin.
- When using a bank transfer to purchase Bitcoin, there are a few things to keep in mind. First, make sure that you are using a reputable and trustworthy exchange. There have been cases of scams and fraud in the past, so it is important to be cautious when choosing an exchange.
- Second, make sure that you understand the fees associated with the bank transfer. Some exchanges charge a flat fee for all transactions, while others charge a percentage of the total transaction amount. Be sure to check the fees before making a purchase.
- Third, make sure that you have the correct Bitcoin address. Many exchanges will provide you with a wallet address when you create an account, but it is always best to double-check that the address is correct before sending any money.
- Fourth, be aware of the exchange rate. The exchange rate can fluctuate, so it is important to check the current rate before making a purchase.
- Finally, remember to keep your Bitcoin wallet safe and secure. There have been cases of people losing their coins due to theft or hacking, so it is important to take measures to protect your wallet. One way to do this is to use a hardware wallet such as a Trezor or Ledger Nano S.
These are just a few things to keep in mind when using a bank transfer to purchase Bitcoin in Thailand. By following these tips, you can be sure that you are making a safe and secure transaction.
How to buy Bitcoin with prepaid card
Prepaid cards are a great way to buy Bitcoin because they offer a simple and convenient way to purchase the cryptocurrency. However, there are a few things to keep in mind when using a prepaid card to buy Bitcoin.
- First, make sure that the card is from a reputable provider. There are many scams associated with Bitcoin, so it is important to be careful when choosing a provider.
- Second, make sure to select a card that is compatible with the exchange you want to use. Not all prepaid cards can be used on all exchanges, so it is important to check beforehand.
- Finally, keep in mind that some exchanges may charge additional fees for using a prepaid card. Be sure to check the fees before making a purchase.
How to buy Bitcoin with Credit and Debit card
There are a few different ways to buy Bitcoin with a credit or debit card. The most popular way is through an exchange, where you can buy Bitcoin with your regular currency. However, there are also ATMs and peer-to-peer marketplaces that allow you to buy Bitcoin directly from someone else.
If you're interested in buying Bitcoin with a credit or debit card, here are a few things to keep in mind:
- Make sure you're using a reputable exchange or marketplace. There have been many scams in the cryptocurrency space, so it's important to be careful when choosing where to buy Bitcoin.
- Fees can vary depending on the exchange or marketplace you use. Some platforms charge higher fees than others, so it's important to compare your options before choosing one.
- You may need to verify your identity before you can buy Bitcoin with a credit or debit card. This is usually done by providing some form of identification, such as a driver's license or passport.
- Bitcoin prices can fluctuate wildly, so it's important to watch the market before making a purchase. The price of Bitcoin can change significantly in a short period of time, so it's important to stay up to date on the latest news and developments.
- You should always store your Bitcoin in a secure wallet. If you're using an exchange, they may provide a wallet for you. However, it's generally considered best practice to store your Bitcoin in a wallet that you control.
Can Foreigners Purchase BTC?
Absolutely! Everyone has the right to buy and sell BTC, regardless of where they are. The concept behind cryptocurrencies and blockchain, in general, is tied to the idea of borderless payments, even for the unbanked.
If you’re not a Thai national, you can still use the Changelly services. Or if you’re traveling somewhere, rest assured that you’ll always have access to BTC as long as there’s the Internet.
How Is the Price of Bitcoin Determined?
The Bitcoin price is determined through supply and demand, which is similar to the pricing of any other financial instrument.
But unlike most goods, the supply schedule for Bitcoin is completely inelastic. There is only a limited number of bitcoins in circulation, and miners can’t react to rising demand by increasing production. This mitigates inflation risks.
Can I Purchase Less Than 1 Bitcoin?
Yes, no problem at all. BTC can be purchased fractionally, starting from 0.0001 BTC, which is roughly 200 Thai Baht. From a technical standpoint, the minimum amount of bitcoin you can send in a transaction is 546 Satoshis (0.00000546 BTC), which is equivalent to about 11 Thai Baht.
It would be unreasonable to expect regular people to afford a whole BTC, which has been worth tens of thousands of pounds for the last few years.
What Are the Taxes for Bitcoin?
If you’re using Bitcoin as a payment method without intending to profit from the price rising over time, you don’t need to worry about taxes.
If you’re investing in Bitcoin for profit, any gains made are subject to a 15% Withholding Tax. This applies to Thai residents as well as non-residents. In 2018, Thailand’s Revenue Department also announced the 7% value-added tax for individual cryptocurrency investors.
Where Can I Store Bitcoin?
In an online wallet. These are software programs designed to send and receive digital currencies and store your public and private keys. E-wallets usually hold BTC as well as other cryptocurrencies, so you can get one for all your crypto investments. If you own large amounts of crypto, consider moving them to cold storage.
Which Bitcoin Wallet Can I Use?
There are numerous wallets available, but we recommend doing extensive research first. The service you will eventually go for should be secure, reputable, and intuitive. Changelly has a long list of partnerships, which includes great wallets like Ledger, Trezor, Edge, Coinomi, Infinito Wallet, Enjin, and many more.
Who Accepts BTC?
You can use BTC to pay for products and services in many Thailand-based and international stores. It can be travel services (Smiling Albino, Four Wheel Travel), legal services (Pugnatorius), business activities (Indo-Siam Group), renting services (Star Beach & View Talay Condominiums), etc.
How to Cash Out BTC?
You can withdraw Bitcoin to Thai Baht with Changelly. For this, you need to sell BTC on our platform, receive funds in your bank account, and go to your local ATM to cash them out.