Buying Cryptocurrency in Vietnam
Even though the State Bank of Vietnam has started tightening “controls” over cryptocurrencies, buyers and sellers of bitcoin in Vietnam are still trading đồng for bitcoin, ethereum and monero every day. With thousands of bitcoin mining rigs entering Vietnam every month, the Vietnamese are some of the top bitcoin and altcoin traders worldwide.
Legality of Bitcoin in Vietnam
The State Bank of Vietnam (SBV) has issued statements that cryptocurrencies are not a lawful means of payment in Vietnam, with fines for supplying and using bitcoin as high as 200 million Vietnamese dong. Prime Minister Nguyen Xuan Phuc and the Ministry of Justice have been threatening “tougher measures” dealing with ICO’s and cryptocurrency trading using the đồng.
There had been thousands of hodler’s of bitcoin long before these laws came into effect. Since hodler’s weren’t breaking any laws before the ban, the country is still one of the largest buyers and sellers of bitcoin worldwide.
Popular Crypto Currency Exchanges in Vietnam
Localbitcoins is still one of the more popular exchanges allowing person to person transactions for buying and selling bitcoin with Vietcombank transfer, Neteller, Skrill or Perfect Money
Exchanges may increase or decrease in popularity within the country but Vinaex, Bitcoinvn and Remitano are three of the most popular and trusted exchanges currently. The exchange formerly known as BTC-e, now called wex.nz is still quite popular, as it was a large exchange before the FBI temporarily shut down the Russian exchange. They are the type of exchange we wouldn’t want to hold bitcoin on over a hardware wallet though.
The most popular exchanges to buy bitcoin in Vietnam currently are:
|Vietnam Crypto Exchanges||Known For||Popular in||KYC||Currencies|
|Large Global Exchange||Latin America, Europe, UK, China, Russia||Yes||BTC, ETH, Alts||Continue|
|P2P Trading||Global||No||BTC, ETH, Alts||Continue|
|Credit Card / Exchange||America's, Europe, Asia||Yes||GBP, USD, EUR, BTC, ETH, Alts||Continue|
|Large Global Exchange||Asia||Yes||USD, IDR, SGD, MYR, BTC, ETH||Continue|
|No KYC, Low Trading Fee's||Global||Under 2 BTC No||BTC, ETH, Alts||Continue|
|Credit Card / Exchange||Everywhere except USA||Yes||EUR, USD, GBP||Continue|
|Anonymous Purchases||Global||No||BTC, ETH, Alts||Continue|
|Large Global Exchange||Asia||Yes||All National Currencies, BTC, Alts||Continue|
|Decentralized Anonymous Exchange||Global||No||BTC, ETH, Alts||Continue|
|Exchange / P2P Marketplace||Africa, UK, Europe, Asia||Yes||ZAR, GBP, EUR, CAD||Continue|
|Large Global Exchange||Latin America, Europe, UK||Yes||BTC, ETH, Alts||Continue|
Buy Bitcoin Anonymously in Vietnam
Our list of anonymous bitcoin exchanges are all available to Vietnamese buyer’s of bitcoin or altcoins. The Paxful options for Western Union transfers, Itunes and Android gift cards are popular with many anonymous bitcoin buyers around the world. Along with Bisq, a decentralized peer to peer crypto currency exchange, accepting national bank transfers, western union and perfect money.
Bitcoin ATM’s in Vietnam
There are 4 bitcoin ATM’s in Vietnam, all are located in Ho Chi Minh City, so people near Vung Tau or Da Nang will have to travel. We would normally use the one at Italiani’s Pizze on 17 Hàn Thuyên because buying bitcoin while eating pizza sounds more fun than drinking coffee at B-Coffee Saigon.
Actually, we’d boat over to Manila and buy bitcoin in Parañaque at 88 Arkade Money Changer or Monteal Money Changer in Taguig City for 1% Fee’s buying bitcoin, since the Ho Chi Minh City locations are going to charge 10% or more for buying bitcoin.