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Summary: Cryptocurrency adoption in Cambodia has grown significantly in recent years, driven by the country's increasing interest in digital assets and efforts to establish a regulatory framework. The National Bank of Cambodia (NBC) is taking steps to oversee and regulate exchanges, ensuring compliance with financial laws and creating a secure trading environment for local investors.
For Cambodian traders interested in investing in digital assets, here is a guide to the top 5 cryptocurrency investing platforms accepting KHR deposits:
Bybit is the leading exchange for Cambodian investors thanks to its free KHR deposits, low investment fees and easy sign-up process.
0.02% Maker Fees and 0.055% Taker Fees.
1,100+ Cryptocurrencies and 100+ for Staking.
Bank transfers, ABA, ACLEDA, KHQR, and credit or debit cards.
Best Cryptocurrency Exchanges in Cambodia
We have evaluated the 16 cryptocurrency exchanges available in Cambodia to identify the top options for local investors. This thorough assessment considered compliance with the National Bank of Cambodia (NBC), KHR deposit options, user experience, supported digital currencies, fee structures, and available features. Below is a comparison table highlighting the top 5 platforms for Cambodian traders.
1. Bybit
Bybit is the best cryptocurrency exchange in Cambodia, boasting over 30 million registered users worldwide and offering a multilingual interface available in Khmer. It provides a diverse collection of over 1,100 digital assets for buying and trading across spot, futures, and options markets, with up to 100x leverage. Its transparent proof-of-reserves is updated regularly to show assets are backed on a 1:1 basis, ensuring users' confidence in the platform’s reliability.
The main attraction is its extensive range of features, including lending, borrowing and staking services, copy trading, a crypto card, demo accounts, Launchpad, trading bots, and an NFT marketplace. This variety of services allows users to explore several investment types and methods to earn a passive yield on their digital assets. Bybit also supports free and instant KHR deposits, making it an attractive choice for Cambodian investors.
- Fees: Maker fee of 0.02% and taker fee of 0.055% for futures and 0.1% for spot trading.
- Supported Assets: Over 1,100 digital assets.
- Regulation & Licensing: Regulated by multiple global authorities and available in Cambodia.
- KHR Deposit Methods: Bank transfers, ABA, ACLEDA, KHQR, WingMoney and credit or debit cards.
2. KuCoin
KuCoin is a top choice in Cambodia for trading altcoins, offering access to over 700 cryptocurrencies. The platform supports various trading markets, including spot, margin, futures, and options, with up to 50x leverage, making it versatile and comprehensive for all trading needs. It serves over 30 million users across 180 countries and provides live customer support in 20 languages.
The exchange has competitive fees, with maker and taker fees starting at 0.1%. Users can benefit from advanced trading tools and bots, as well as KuCoin Earn, which offers staking, lending, and flexible saving products. The platform also provides access to innovative projects through KuCoin Spotlight, giving traders early access to tokens before they get listed on the spot trading markets.
- Fees: Maker and taker fees starting at 0.1%.
- Supported Assets: Over 700 cryptocurrencies.
- Regulation & Licensing: Compliant with international regulatory standards and is available in Cambodia.
- KHR Deposit Methods: Bank transfers, credit or debit cards, and P2P trading.
3. Kraken
Kraken is a popular cryptocurrency exchange in Cambodia, especially for institutional investors, due to its robust security features and comprehensive OTC desk services. Supporting over 200 cryptocurrencies, it offers a wide range of trading options, including spot, futures, and margin trading with up to 5x leverage. Its advanced security measures, such as two-factor authentication and cold storage, ensure a safe trading environment.
In addition to its security, it provides 24/7 customer support with dedicated account managers for institutional clients. The platform offers various staking services, giving its users the ability to earn up to 30% APY on their assets. Its advanced trading tools, including OTC trading for high-volume transactions over $100K, make Kraken a reliable choice for large-scale and institutional trading.
- Fees: Maker fees start at 0.16% and taker fees at 0.26%.
- Supported Assets: Over 200 cryptocurrencies.
- Regulation & Licensing: Fully compliant with international and Cambodian financial regulations.
- KHR Deposit Methods: Bank transfers, credit or debit cards, and international wire transfers.
4. MEXC
MEXC is an Asian exchange with a focus on cryptocurrency futures with high leverage. Known for its advanced interface, it supports trading with up to 200x leverage on a wide range of derivatives contracts. The platform provides advanced trading features suitable for traders looking to maximize their high-risk, high-reward strategies. It has over $2 billion in daily trading volume across both order books.
It offers comprehensive trading tools and features, including spot and margin trading, a mobile app, copy trading, demo trading, airdrops, and regular promotions to keep users engaged. MEXC’s advanced security features, such as multi-signature wallets and cold storage, ensure the safety of users' assets. The platform also provides a multilingual interface that can be used in 18 languages.
- Fees: Maker fees ranging from 0.02% to 0.06% and taker fees are 0.06% to 0.08%.
- Supported Assets: Over 800 cryptocurrencies.
- Regulation & Licensing: Licensed in Estonia and available in Cambodia.
- KHR Deposit Methods: Bank transfers or debit and credit cards.
5. Gate.io
Gate.io is a popular crypto trading platform in Cambodia known for its extensive selection of coins, with over 2,100 digital assets for trading. The platform supports a variety of trading options, including spot, margin, futures, and perpetual contracts with up to 100x leverage. Its comprehensive security measures, user-friendly interface, and broad asset selection cater to both new and experienced Cambodian traders.
There are over 16 million registered users trading more than $8 billion across both spot and futures order books, making it one of the most liquid exchanges worldwide. There are a variety of features available from Gate.io Earn, a staking and lending service allowing users to earn passive income on their holdings to copy trading and a startup service. The platform regularly updates its offerings with new tokens and trading options, keeping traders engaged.
- Fees: Maker fees at 0.1% and taker fees at 0.2%.
- Supported Assets: Over 2,100 digital assets.
- Regulation & Licensing: Operating offshore in Seychelles, Gate.io is accessible in Cambodia.
- KHR Deposit Methods: Bank transfers or debit and credit cards.
Is Crypto Regulated in Cambodia?
No, cryptocurrency regulation in Cambodia is still evolving and is yet to be fully established. The National Bank of Cambodia (NBC) is spearheading efforts to regulate certain crypto-asset services, focusing on Anti-Money Laundering (AML) and Counter-Terrorist Financing (CTF) oversight. This primarily impacts providers of exchange, transfer, and custodian wallet services.
General laws and financial regulations apply, especially to crypto-assets that function similarly to securities. The NBC assesses such assets based on their characteristics and the rights they grant to investors. Depending on the specific crypto or platform, other legal frameworks, such as the Cambodian Civil Code, intellectual property laws, and consumer protection regulations, might also be relevant.
How is Crypto Taxed in Cambodia?
Cryptocurrency taxation in Cambodia is still developing as the General Department of Taxation (GDT) gradually creates a framework to address digital asset transactions. Currently, short-term capital gains from cryptocurrency holdings, defined as those held for less than a year, are taxed at rates similar to other capital gains, ranging from 18% to 32%.
For long-term holdings, the tax implications can be more favorable, potentially benefiting from lower or zero rates. Additionally, income generated from cryptocurrency activities, such as mining or professional trading, falls under self-employment income and is subject to progressive tax rates. Despite the lack of a comprehensive regulatory framework, Cambodia is aligning its tax policies with international standards to provide clarity and stability for investors.
How to Buy Bitcoin in Cambodia
If you’re new to investing in cryptocurrency and have never used a digital asset exchange, this guide can help you understand how the purchasing process works. Here is a quick breakdown of how to buy Bitcoin (BTC) in Cambodia.
- Create an Account: Start by providing your name and email address to set up an account on a cryptocurrency exchange. You will need to verify your identity with a photo ID, such as a driving license or passport, before you can use the platform.
- Deposit Funds in KHR: Navigate to the deposit section of your exchange account. Enter the amount of Cambodian Riels (KHR) you want to transfer and choose your payment method, such as a bank transfer, credit card, or debit card. Review your platform’s fees and limits to understand how long it will take for your funds to be credited.
- Find Desired Cryptocurrency: To buy Bitcoin or other cryptocurrencies, enter the coin name or symbol in the search box. For instance, search for BTC to buy Bitcoin. Select the KHR/BTC pair and enter your trade details.
- Execute Trade: Click the ‘buy’ or ‘trade’ button to purchase your chosen cryptocurrency. Enter the amount you want to buy and complete the trade.
Following these easy steps will help you understand the process of buying Bitcoin and other digital assets in Cambodia.
Bottom Line
In conclusion, cryptocurrency adoption in Cambodia is on the rise, driven by growing interest in digital assets and efforts to establish a regulatory framework. The National Bank of Cambodia (NBC) is actively working to oversee and regulate exchanges. Bybit, KuCoin, Kraken, MEXC, and Gate.io are among the top platforms offering diverse features and services to cater to the needs of Cambodian traders.
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