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TH If you are someone who wants to trade crypto from Thailand but don't know where to start. This article will take you deeper into the world of cryptocurrencies. Including reviews of crypto brokers that are popular and trending in Thailand.
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What is Cryptocurrency?
Cryptocurrency Cryptocurrency is a type of digital currency that is used as a medium of digital exchange. It performs the same function as general fiat currencies such as the baht, dollar, yuan, etc., but differs in the working principle of crypto that must be encrypted to verify its authenticity on the blockchain every time. There will be a transaction. This gives it superior security.
Currently, there are tens of thousands of different types of crypto coins. Each coin has different characteristics, whether it is Bitcoin (BTC), Ethereum (ETH), or Bitcoin Cash (BCH), etc. Therefore, it is necessary that we study the pros and cons and the trading service providers. Each crypto carefully before investing each time.
Types of digital currency trading intermediaries
You may have heard the term Crypto trading markets or digital currency exchange intermediaries have been around for quite some time. There are generally two main types of cryptocurrency trading markets: Decentralized Exchanges and Centralized Exchanges.
- Decentralized Exchange (DEX) This type of crypto exchange only functions as an automated crypto trading center on the blockchain. Therefore, you must have your own Private Key to trade the desired cryptocurrency. And how to use it is very simple, just need to connect your crypto wallet to Decentralized Exchange can then start setting prices and trading with intermediaries immediately.
- Centralized Exchange (CEX) This type of crypto exchange acts as a full-fledged cryptocurrency trading intermediary. Users must deposit money to buy crypto. Cryptocurrencies are then deposited here until they are sold and withdrawn from here as well. Each time you trade, investors do not need their own Private Key. Just use your password to log in and you can use it.
Interesting Crypto Brokers in Thailand
For investing in cryptocurrencies, you need to use a digital asset trading intermediary (Exchanges). In general, before investing in crypto, one should look for a trading intermediary that is registered. It operates legally in Thailand and is recognized so that we can rest assured that our crypto is kept safe to reduce the risk of both volatility and theft of cryptocurrencies. And below are examples of leading service providers in Thailand.
eToro
eToro is a long-standing crypto brokerage that has been around since 2007. They have continuously developed a full range of crypto trading services. They are one of the pioneers of social trading, or as many people may have heard of it, called copy trading. In addition to that, they also offer trading in a wide range of assets. Whether it's Forex Cryptocurrencies, stocks, stock derivatives or ETFs, etc.
What's more interesting is that this crypto broker also has low trading fees. Holds valid operating licenses from both the Australian Securities and Investments Commission (ASIC), the Cyprus Securities and Exchange Commission (CySEC), the Seychelles Financial Services Authority (FSA), and Financial Conduct Authority (FCA) and also serves customers in Thailand.
Binance
Binance is One of the largest crypto markets of this era. The company was first founded in 2017 and offers trading in a wide range of assets including cryptocurrencies, forex, CFDs, stocks, gold, instruments and many more. If you live in Thailand and want to buy crypto. Ptocurrency passed At Binance, you can choose to use traditional deposit methods to make purchases, or you can use your Visa credit card to be charged as well.In addition to the multi-asset offering and comprehensive trading tools, this trading platform also offers They also have their own cryptocurrency, Binance Coin (BNB).
Bitkub
Bitkub is considered a genuine Thai cryptocurrency exchange that was founded in 2018. They have received a valid license from the Securities and Exchange Commission of Thailand to provide trading services. Sell and store a wide range of digital assets such as Bitcoin, Ethereum, USDT or Dogecoin etc. What is interesting besides the wide variety of digital assets offered? That is, investors in Thailand interested in the crypto market can deposit and withdraw money from crypto trading in baht. There is also an experienced Thai customer service department to provide direct care.
XM
XM is the broker of choice for a secure digital asset exchange that has been around since 2009. They currently provide Thai traders with the opportunity to invest in the crypto market and a wide range of digital assets. You can also learn to trade with the free trading program for 30 days before investing. Not only that, you can also withdraw your crypto to your bank account with low fees.
Crypto Withdrawal
As for how to withdraw money from cryptocurrency returns, there are several options. You can learn more details from the example of withdrawing digital currency from the example below.
- Digital currency trading intermediary
Most providers today allow you to make purchases and withdrawals to your linked bank account or various digital wallets, whether it be Apple Pay or PayPal, etc. But before withdrawing you need to convert your coins into fiat currency. first, then withdraw as usual. Withdrawals using this method will have different fees and working hours for each service provider.
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Withdrawal of Cryptocurrency via Peer-to-Peer (P2P)
Simply put, it involves selling your cryptocurrency to another person through an investment platform that supports P2P trading, when the buyer transfers the money to you at an agreed-upon price. You just need to transfer your crypto to the buyer.
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Crypto debit card
In addition to the above options Investors can look for providers that offer crypto debit cards that can convert your digital assets into fiat currency to use for purchases or cash out instantly via ATM. Cryptocurrency ATM
Investing in crypto with risks to consider
Although investing in digital currencies is one of the most interesting investment options today because they can be traded from anywhere and provide high returns. But of course, investing in digital assets still has risks that cannot be avoided. Crypto trading is still considered highly volatile. There is a risk from hackers. and other factors that all investors should study and be careful
Frequently asked questions about cryptocurrencies
Where can I buy cryptocurrency?
You should only buy cryptocurrencies from a digital asset exchange provider that is certified and recognized by the Securities and Exchange Commission of Thailand so that your investment is safe and legal. In the event of a dispute with the broker used
Can I use a debit or credit card to deposit funds to invest in crypto?
In many digital asset trading service providers It allows investors to use their existing credit or debit card to make deposits with the platform. The fiat currency on your card will be automatically converted to the desired cryptocurrency ready to get started. Invest in that coin
Can I withdraw money to a Thai bank account in Thailand?
Some digital asset exchanges now allow investors to withdraw funds directly to bank accounts within Thailand. Only the name specified must match the registered name and additional withdrawal fees may be charged from investors.
If I don't want to hold my own Private Key, which digital asset investment platform should I choose?
For investors who are just starting to trade and don't want to bear the risk of storing their own private keys, you should choose to invest on a Centralized Exchange (CEX) investment platform as they provide a complete investment service and easily All you need is an access code to use it.
Is investing in digital asset trading today risky?
It is well known that investing involves a high level of risk. But in each investment, investors themselves should carefully study the details of that investment. What are the details? Is there any volatility or high risk? What is the return that will be received in order to be able to plan investments appropriately and limit investment risks to a minimum?
