Best Crypto Exchanges in Bangladesh

Summary: In Bangladesh, the common method for purchasing and trading Bitcoin, along with other cryptocurrencies, is via digital asset exchanges that are in accordance with Bangladeshi regulations. Investors can use bank transfers, credit cards, or other suitable payment methods to deposit Bangladeshi Taka (BDT) and acquire, hold, and trade cryptocurrencies while adhering to local legal guidelines. 

We have meticulously scrutinized the top 5 cryptocurrency platforms in Bangladesh to aid you in delving into the digital currency market. These platforms are deemed to be the most reliable choices: 

1. Bybit - Best Overall Exchange in Bangladesh
2. Binance - Best Global Trading Platform
3. Kraken - Best for Institutional Investors
4. Gate.io - Best Altcoin Trading Platform
5. ‍OKX - Best for Beginners

Top Crypto Platforms in Bangladesh 

After an extensive evaluation of over 30 cryptocurrency exchanges, we have determined the top trading platforms for Bangladeshi investors. Our ranking methodology takes into account essential factors like compliance with Bangladeshi regulations, the variety of accessible digital currencies, user interface, fees, BDT deposit methods, and transaction fees, among other criteria, to provide a well-rounded evaluation of these platforms. 

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1. Bybit

Bybit is the best overall cryptocurrency exchange in Bangladesh due to its robust platform that caters to both novices and advanced traders. With Bybit, traders can enjoy the privilege of 100x leverage on derivatives and options trading. The exchange supports several order types, such as a fiat-to-crypto convert feature plus spot, futures, and options trading. 

A notable feature of Bybit is its user-friendly interface, compatible with 20 languages, including Bengali, making trading seamless for all users from every country. The platform's commitment to security and transparency is proven by providing regularly updated proof of reserves, giving traders peace of mind, and justifying its ranking as the number one exchange in Bangladesh.

• Fees: Maker orders 0.01%, and taker orders 0.06% per trade. No deposit and withdrawal fees.
• Supported Cryptocurrencies: 770+ Cryptocurrencies.
• Regulation & Licensing: Globally licensed and trusted.
• BDT Deposit Methods: Bank Transfer, bKash, Nagad, Rocket & Credit/Debit card.

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2. Binance

Binance is the second-best cryptocurrency exchange in Bangladesh, known for its global footprint and comprehensive trading services. This trading platform currently supports over 350 cryptocurrencies, making it a desirable choice for those interested in diversifying their crypto portfolio. Its distinguishing features include spot trading, futures trading, and even staking capabilities, thus offering a wide range of investment avenues. 

Its intuitive interface and advanced charting tools offer beginner and expert traders a conducive trading environment. Given its impressive liquidity and competitive fees, Binance is the best global trading platform and boasts an impressive 120+ million registered users in over 100 countries, including Bangladesh.

• Fees: Spot trading fee is set at 0.1%, while derivatives trading follows a maker/taker fee structure of 0.02%/0.04%. Deposit and withdrawal fees range between 0.5% to 1.8%. 
• Supported Cryptocurrencies: 350+ Cryptocurrencies. 
• Regulation & Licensing: Globally licensed and trusted. 
• BDT Deposit Methods: BKash, Nagad, Rocket, and Bank Transfer.

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3. Kraken

Ranking third, Kraken shines as the best cryptocurrency exchange for institutional investors in Bangladesh. Kraken offers trading options for more than 60 cryptocurrencies, and its institutional-grade offering includes robust APIs, a secure trading environment, high liquidity, regulatory compliance in every country worldwide, and dedicated account management. 

Kraken's OTC desk provides personalized service for large trades, and its futures and margin trading capabilities further enhance its appeal for professional and institutional traders. The platform also boasts stringent security protocols, which, combined with its transparent operational history, instills trust amongst the Bangladeshi institutional investor community.

• Fees: 0.16% for maker orders and 0.26% for taker orders. 
• Supported Cryptocurrencies: 60+ Cryptocurrencies. 
• Regulation & Licensing: Complies with international regulatory standards. 
• BDT Deposit Methods: Bank Transfer and Credit Card.

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4. Gate.io

The fourth-ranked cryptocurrency exchange in Bangladesh, Gate.io, stands out as the best platform for altcoin trading. This exchange lists over 1700 cryptocurrencies, making it one of the top platforms for digital asset diversity, with the top thousand tokens available to trade. Gate.io is known for its spot trading, futures trading services, and innovative periodic trading function. 

The exchange also offers a wide range of DeFi products, a robust IEO platform, and yield farming capabilities, enabling users to diversify their investment portfolio. Gate.io's comprehensive suite of tools and features attracts a substantial portion of Bangladeshi traders who are eager to explore the altcoin market.

• Fees: 0 deposit fees and 0.1% for spot trading.
• Supported Cryptocurrencies: 1,700+ Cryptocurrencies.
• Regulation & Licensing: Unregulated platform that does not require KYC or AML.
• BDT Deposit Methods: P2P Trading only.

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5. OKX

OKX is the best platform for beginners in Bangladesh. Offering access to over 350 cryptos, OKX boasts a user-friendly interface that significantly eases the learning curve for novices. The platform has a selection of educational resources and learning tools aimed at helping new users understand the nuances of cryptocurrency trading. 

The support for spot trading, futures trading, and margin trading on the same platform also allows beginners to learn and grow. OKX's security is top-notch, with cold storage wallets, two-factor authentication, and SSL encryption, ensuring that beginner traders in Bangladesh can learn and trade in a safe and secure environment.

• Fees: 0% for makers and 0.2% for takers. Flat 0.1% fee for instant spot trading.
• Supported Cryptocurrencies: 300+ Cryptocurrencies.
• Regulation & Licensing: Regulated by VARA (Dubai) and SFC (Hong Kong). No direct regulatory approvals in Venezuela.
• BDT Deposit Methods: Bank transfer or Credit/Debit Card.

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Is Crypto Trading Legal in Bangladesh? 

Yes, the purchase and trading of cryptocurrencies are legal in Bangladesh. The Bangladeshi government does not recognize cryptocurrencies as legal tender but has not prohibited their trade. Bangladesh has taken a rather open stance towards cryptocurrencies, although the Bangladesh Bank, the country's central monetary authority, has issued warnings about the potential risks associated with digital currencies. 

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Is Crypto Taxed in Bangladesh?

The status of cryptocurrency in Bangladesh was legally complex due to its prohibition by Bangladesh Bank, the country's central banking authority. The bank had issued numerous warnings against conducting transactions using cryptocurrency, primarily due to concerns related to potential financial risks such as money laundering.

In such a context, it's hard to specifically define how the Bangladesh National Board of Revenue (NBR), the principal authority for tax administration in Bangladesh, handles tax issues related to cryptocurrencies. Considering that cryptocurrencies were technically illegal in Bangladesh, the NBR wouldn't usually have a formal structure in place to tax these digital assets.

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How to buy Bitcoin or Crypto with BDT 

For Bangladeshi investors wishing to enter the crypto market using BDT (Bangladeshi Taka), follow these steps: 

• Select a reliable exchange: Opt for platforms that adhere to Bangladeshi regulations and are widely recognized in the cryptocurrency community. 
• Create and validate your account: Register using your email, create a password, and complete the KYC (Know Your Customer) process by providing identification and proof of address documents. 
• Deposit funds into your account with BDT: You can add funds to your account with BDT through bank transfers or other approved payment methods. 
• Buy cryptocurrency: Choose the cryptocurrency you want to buy, set the amount, then confirm the transaction. 
• Secure your investments: Moving your cryptocurrencies to a personal wallet for extra security.

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Bottom Line

To summarize, the crypto trading landscape in Bangladesh is increasing with popularity thanks to the rise of trusted and secure platforms for diverse investor needs. Bybit, Binance, Kraken, Gate.io, and OKX have been identified as the top five exchanges in Bangladesh, each excelling in different categories, such as regulation and security, transparency, affordability, diversity in assets, and more.