Compare Top Crypto Exchanges in Cambodia

1. Bybit

Bybit earns first place for handling funding, trading, and cashing out in either currency within one app. P2P sellers quote USDT in USD and KHR and accept ABA or ACLEDA transfers, Wing payments, and KHQR scans. Neither buyer nor seller pays a P2P fee. In our test, we scanned the seller's KHQR code in the ABA app and received the USDT from escrow eight minutes later. The full platform assessment is in our Bybit review.

All spot orders across more than 2,600 coins cost a flat 0.1% trading fee. Perpetual contracts charge makers 0.02% for adding orders to the book and takers 0.055% for filling them. Beginners can use Lite mode to hide leverage, and advanced investors can access up to 200x leverage. The same account includes copy trading, grid and DCA bots, Earn, and a demo mode.

A February 2025 cold wallet attack drained roughly $1.5 billion of Ether from Bybit, a record for any exchange. Withdrawals never paused, and customers were repaid in full. Since then, Hacken has verified reserves monthly by comparing Bybit's holdings with what it owes customers. The 36th verification covered 27 May 2026 and counted $16.5 billion of major assets against user liabilities.

Pros

• USD and KHR sellers accept ABA, ACLEDA, Wing, and KHQR payments. Bybit charges no P2P order fee.
• Spot trading costs 0.1% across 2,600+ coins, and perpetual makers pay 0.02%.
• Monthly Hacken checks have shown more than 100% coverage for major assets since the 2025 breach.

Cons

• The record theft in 2025 remains part of Bybit's history, although users bore no loss.
• Website blocks by Cambodian providers leave the app as the only dependable point of access.
• Disputes fall under foreign terms because Bybit has neither SERC nor NBC approval.

2. Binance

Binance is the marketplace with the most Cambodian sellers online at any hour. Its P2P section quotes USDT in both currencies, with dedicated labels for ABA, Cambodian bank transfers, and Wing. In September, active advertisers outnumbered Bybit's in both USD and KHR. Quotes were tightest above $1,000. That depth matters for large purchases, which thinner marketplaces force buyers to split across sellers at worse prices.

Spot orders on 500+ coins cost 0.1%, or 0.075% when fees are paid in BNB. Perpetual fees are 0.02% for makers and 0.06% for takers. The app supports Khmer, and one balance covers margin, recurring buys, Earn, and Binance Pay. Binance signed a memorandum of understanding with the SERC in 2022 to help design local rules, but received no license. 

In November 2024, the Telecommunication Regulator of Cambodia included its website among the 16 it blocked. In 2023, US prosecutors secured a guilty plea from Binance and $4.3 billion in penalties for anti-money-laundering failures. The SAFU insurance fund remains funded, and Binance publishes reserve reports monthly. We follow its compliance rebuild in our Binance review, while Bybit vs Binance compares the two leading picks.

Pros

• Cambodia's largest pool of USD and KHR sellers, with dedicated ABA and Cambodian bank transfer labels in P2P.
• Bitcoin and Ether order books are deeper than any rival's. Spot fees are 0.1%, reduced to 0.075% with BNB.
• Khmer-language access, SAFU insurance cover, and monthly reserve disclosures.

Cons

• The 2023 US penalty of $4.3 billion remains the industry's largest compliance case.
• Every purchase requires a P2P counterparty because direct card and bank deposits are unavailable.
• First-time buyers may find leveraged products confusing when they appear close to the basic buy screen.

3. OKX

OKX offers the lowest starting order book fees at 0.08% for makers and 0.10% for takers. Alongside its 350+ coins, the app includes a non-custodial wallet connected to more than 130 blockchains. Users hold the wallet keys, rather than OKX. Cambodian users can buy USDT from a P2P seller and move it on-chain to use decentralized applications without leaving the app. TradingView provides the charts. Monthly reserve reports date back to late 2022.

ABA and bank transfers are the main payment labels in its USD and KHR P2P marketplace. We found fewer sellers than on Bybit or Binance, with wider quotes after 6 pm in Phnom Penh. Orders below $200 carried the highest premiums. Larger purchases priced well when a verified seller was online. The OKX website is blocked in Cambodia, so plan to use the app.

Tron carries most stablecoin savings transfers in Cambodia and is supported natively by the OKX wallet. The exchange account includes perpetual and dated futures as well as options, products a stablecoin saver will not need. Our OKX review assesses the wallet separately from the exchange.

Pros

• Order book fees of 0.08% for makers and 0.10% for takers, below almost every exchange here.
• A single login for the exchange and a self-custody wallet covering 130+ chains, including Tron.
• Built-in TradingView charts and monthly reserve attestations since 2022.

Cons

• Fewer USD and KHR sellers than Bybit or Binance, with wider evening quotes.
• Putting an exchange account and a self-custody wallet behind one login increases the risk of an irreversible mistake.
• The website is blocked locally, and OKX holds no Cambodian approval.

4. MEXC

MEXC’s frequent traders pay the least in this ranking. Spot makers pay nothing, spot takers pay 0.05%, and futures makers also pay zero. MEXC cautions that regional rules and promotions can change these rates. With more than 3,000 coins, its catalog is the broadest here. New tokens often arrive before larger exchanges list them, though many have thin order books. Check daily volume before buying a small token.

Cambodian funding is less practical. Only a few sellers appeared in our checks of MEXC's KHR P2P marketplace, and all quoted above Bybit. A third-party processor adds a markup to card purchases. The workable route is to buy USDT through ABA on Bybit or Binance, then send it to MEXC over Tron for a few cents. See our MEXC fees page for the full schedule.

The June 2026 reserve report showed average coverage of 156.5% across major assets. Hacken audits these snapshots monthly, and MEXC also maintains a $100 million Guardian Fund. Registered in the Seychelles, the company has no license from a major regulator. Its verification tiers are covered in our MEXC review.

Pros

• Zero maker fees on spot and futures, with a 0.05% spot taker rate.
• More than 3,000 coins, the widest catalog of any exchange serving Cambodia.
• The June 2026 Hacken audit showed 156.5% average reserve coverage. A $100 million Guardian Fund provides additional backing.

Cons

• KHR sellers are too scarce for a first account, leaving USDT transfers from elsewhere as the main funding route.
• Foreign terms govern disputes, and MEXC has no major regulatory license.
• Trading activity and fundamentals are often weak on new listings.

5. RGX (Royal Group Exchange)

RGX is the only exchange in this guide with Cambodian approval. Owned by Royal Group, one of the country's largest conglomerates, it began trading in January 2024 under the SERC's FinTech Regulatory Sandbox. This is a supervised testing program for financial technology companies. RGX offers spot trading and bots across more than 100 digital assets. Futures are described as coming soon in its app store listing.

One year after launch, RGX reported about 3,500 users, a small fraction of Cambodians using global apps. Its order books are shallow compared with Bybit or Binance. Sandbox rules also prohibit participants from converting digital assets directly into riel or dollars. RGX therefore cannot replace P2P when you need to return money to an ABA account.

The September 2026 joint notice creates a route to a full SERC license for RGX once the digital asset business rules take effect. For now, it suits people who want to hold major coins on a locally supervised platform with Khmer-language support. Support is available in Khmer, English, and Chinese. Foreign apps still offer greater depth and a working way to cash out.

Pros

• The only platform operating in Cambodia with SERC sandbox approval.
• Local customer service in Khmer, English, and Chinese.
• Direct Cambodian regulatory supervision, unavailable at foreign exchanges.

Cons

• Limited order book depth and a user base in the low thousands.
• Sandbox rules prevent direct conversion between crypto and riel or dollars.
• Futures and a broader product range remain in development.

6. Phemex

Phemex is best for Cambodians who already hold USDT. It was founded in 2019, operates from Singapore, and lists more than 600 spot coins. Makers and takers both pay 0.1% on spot trades. Perpetual futures cost makers 0.01%, half the Bybit or Binance rate, while takers pay 0.06%. Copy trading, free grid and DCA bots, and Earn products share the same account. Since February 2026, it has also offered 24/7 futures on tokenized US stocks, gold and silver.

Phemex has a P2P marketplace for USDT, BTC, and ETH, but in September we could not confirm an active KHR market or a Cambodia-specific USD market. Card purchases carry a processor markup. This makes funding the main weakness for Cambodian users. Buying USDT on Bybit or Binance through ABA and transferring it over Tron remains the dependable route.

On 23 January 2025, attackers drained Phemex's hot wallets, with estimated losses of $69 million to $85 million. Cold wallets were untouched, and Phemex covered user balances. Withdrawals resumed network by network within days. Custody has since shifted to multi-party computation wallets. Merkle tree reserve proofs let users check that their balance is included. Phemex does not have approval from a major financial regulator or from Cambodia.

Pros

• Perpetual makers pay 0.01%, some of the lowest fees in this ranking, while spot trading has a flat 0.1% rate.
• More than 600 coins, copy trading, and free bots, plus 24/7 futures on tokenized stocks and metals.
• Merkle tree reserve proofs, plus a custody overhaul after the 2025 incident.

Cons

• Without a confirmed KHR marketplace, users must fund by USDT transfer or pay a card processor's markup.
• The January 2025 hot wallet theft remains on its record, although users were made whole.
• A heavy emphasis on leverage, registrations limited to Lithuania and the US, and no Cambodian approval.

How to Choose a Crypto Exchange in Cambodia

Foreign exchanges operate in Cambodia without local approval. Local exchanges can't cash you out to a bank. Funding and total cost matter, but so does how your activity holds up to bank scrutiny. Before depositing, we run five checks:

1. Confirm the app opens on your normal connection: Since November 2024, Cambodian internet providers have blocked Binance, OKX, Bybit, and other exchange websites. Install the app and finish verification before sending money. If the app fails to load, the platform needs a VPN, which carries its own legal uncertainty.
2. Count sellers in the currency you will use: Check the P2P marketplace in USD, then KHR. Count sellers accepting ABA, ACLEDA, or Wing at your usual trading hour. Dollar marketplaces are deeper on every platform here. Keep KHR purchases small because riel quotes include an extra exchange rate margin.
3. Choose counterparties as carefully as a bank would: Cambodian banks review accounts connected to the scam economy behind the Prince Group indictment and the Huione shutdown. Use only verified merchants with more than 1,000 completed orders and completion rates above 97%. 
4. Price the whole cycle, not the spot fee: The 0.1% trading fee is only a small share of the cost. Include the seller's dollar premium and the network withdrawal fee, then account for the discount buyers demand when you sell back. Our round trips cost 1% to 2% on the deepest marketplaces and more on quieter ones.
5. Complete a small round trip first: Start with $50 of USDT and sell it back. Confirm the dollars have reached your ABA or Wing balance before increasing the amount. A small test exposes name mismatches and bank holds without committing a larger sum. Today's successful withdrawal says nothing about the next one.

Crypto and Bitcoin Regulation in Cambodia

Cambodia has no crypto law yet. Existing rules are tightening quickly, however, and both regulators have clarified who will issue licenses. Individuals commit no criminal offense by holding crypto, but running an unlicensed crypto business is a criminal offense. 

Key developments include:

• 2018 joint statement: The NBC, the SERC and the General Commissariat of National Police said anyone trading or circulating cryptocurrencies without a license from the competent authorities would face penalties. Still in force, the statement was cited again in September 2026.
• January 2024 sandbox approval: RGX became the first digital asset exchange to launch with approval under the SERC's FinTech Regulatory Sandbox, established by Guideline 001/22.
• November 2024 website blocks: The Telecommunication Regulator of Cambodia ordered internet providers to block 102 domains. These included 16 crypto exchange websites, such as Binance, Coinbase, and OKX, that lacked SERC licenses. Mobile apps were unaffected.
• 26 December 2024 NBC Prakas: Prakas B7-024-735 permitted commercial banks and payment institutions to offer services in Group 1 cryptoassets after NBC approval. This group covers tokenized traditional assets and backed stablecoins. Banks cannot hold Group 2 assets such as Bitcoin.
• 24 December 2025 draft business rules: The Financial Services Authority Council approved a draft SERC prakas covering digital asset business licensing and service provider duties in nine chapters and 63 articles.
• 8 July 2026 drafting group: A decision signed by Prime Minister Hun Manet and made public on 10 August established a 26-member inter-ministerial working group to draft the Law on the Management of Virtual Assets and Digital Assets. A Ministry of Economy and Finance secretary of state and an NBC deputy governor co-chair the group.
• 23 September 2026 joint notice: The SERC and NBC outlined a shared framework for investor protection, market integrity and innovation. Banks need prior NBC approval to offer virtual asset services; other legal entities need a SERC license. Khmer Times reported that the final draft law is targeted for November, with legislative approval sought by the end of 2026.

For individuals, the practical position has not changed. Buying, holding, and selling through a foreign app is not prosecuted, but no authority in Phnom Penh stands behind the balance.

Transfers to P2P sellers can prompt a compliance review at ABA, ACLEDA, or Wing if they resemble a payment business rather than personal savings. That is the larger risk. The first SERC licenses will reshape this ranking, although no date has been set for them.

How Does the GDT Tax Crypto in Cambodia?

The capital gains tax introduced on 1 January 2026 covers investment assets without naming crypto. With no crypto-specific guidance from the General Department of Taxation (GDT), the general rules remain the reference point:

• A 20% tax on the gain: The Ministry of Economy and Finance issued Prakas 496 on 18 July 2025, setting a 20% tax on gains from six categories of capital. These include investment assets, foreign currency, leases, goodwill, and intellectual property. Only the profit is taxed: the selling price less allowable costs, rather than the full sale value.
• Classification remains open: Whether a stablecoin or Bitcoin sale falls under investment assets or foreign currency is still unconfirmed by the GDT. Both classifications carry the same 20% rate. Ask a tax adviser which deductions apply.
• Income from crypto activity is ordinary income: Freelance payments received in USDT and profits from trading as a business fall under salary or income tax, with progressive rates up to 20%.
• Keep dollar and riel values for every trade: Each P2P purchase, sale, and swap needs a record of its date, USD value, and counterparty. Match ABA statements with exchange exports. These are the records required for a GDT query or bank review.

Enforcement against individual crypto disposals has been minimal so far, with a bank review the more immediate risk for most readers. These general notes are not personal tax advice. Confirm the classification of your activity with a Cambodian tax adviser before filing.

Cryptocurrency Adoption in Cambodia

Crypto use in Cambodia is high relative to the country's size. Chainalysis ranked it 13th of 151 in its 2025 Global Crypto Adoption Index after adjusting for population, and 10th worldwide for value received on centralized exchanges relative to income. 

Cambodia sits outside the top 20 in the 2026 edition, released on 23 September. That edition introduced a methodology covering service inflows, domestic peer-to-peer transfers, cross-border transfers, and on-chain balances. Three factors shape local demand:

• Dollarization makes USDT feel familiar: US dollars already account for most bank deposits and larger purchases, while the riel has traded near 4,000 to the dollar for years. Moving from a dollar bank balance to a dollar stablecoin is a small step. This helps explain why USD P2P marketplaces are deeper here than in most developing markets.
• Bakong built the payment habit: Launched in 2020, the NBC's tokenized deposit system processed about one billion transactions worth $135.8 billion in the first half of 2026. Bakong had 38 million accounts and 4.5 million merchant locations accepting KHQR, with riel transaction volume up 120% year on year. 
• The scam economy shapes the rules: According to Chainalysis, crypto scams received at least $14 billion in 2025, with much of the activity run from forced labor compounds in Cambodia and Myanmar. Enforcement carried into 2026.

A dollar economy and a mobile-first population support Cambodian demand. QR scans are treated as normal money, regardless of which regulator issues the first licenses. Our crypto adoption statistics compare Cambodia with other markets.

How to Buy Bitcoin in Cambodia

The lowest-cost reliable method is to buy USDT from a P2P seller in dollars, then place a Bitcoin limit order on the spot market. You will need a national ID or passport and an ABA, ACLEDA, or Wing account in your own name. A first purchase takes under an hour:

1. Open an account where sellers are active: We start with Bybit, while Binance has more sellers for large orders. Set Cambodia as your country of residence so your documents match during any later withdrawal review.
2. Verify before sending any money: Submit your national ID or passport and complete the selfie step. Our Bybit and Binance approvals took minutes. P2P escrow cannot be released to an unverified account on any platform.
3. Buy USDT in dollars under escrow: In P2P, select USDT and USD, then filter payments by ABA. Find a seller with a high completion rate and recent trades. Place the order, scan their KHQR code in the ABA app, and mark it as paid. Once the seller confirms receipt, the USDT is released. This took eight to fifteen minutes in our tests.
4. Place your Bitcoin order at a set price: Open the BTC/USDT spot market. The express buy screen includes a spread in its quote, so use a limit order and enter the highest price you will accept. It executes at that price or lower and remains open if the market moves away.
5. Choose custody: Frequent traders can keep Bitcoin on the exchange. For savings, move it to a wallet whose private keys you hold, since no Cambodian authority protects exchange balances. Our best crypto wallets guide ranks hardware devices. 

Reverse the process to sell. Post or accept a USDT sell order, but release the coins only after the dollars appear in your ABA or Wing balance. A buyer's screenshot is not proof of payment. If the payer's name differs, keep the USDT locked and open a dispute through the exchange.

Final Thoughts

Bybit leads in Cambodia with USD and KHR P2P sellers accepting ABA, ACLEDA, Wing and KHQR. It charges a flat 0.1% fee and has monthly verified reserves. Choose Binance when seller depth matters most. OKX has the lowest order book fees, while MEXC suits frequent traders funding with USDT transfers. RGX alone has Cambodian approval.

The past twelve months brought more regulatory change than the previous six years. The September joint notice and draft law indicate the market's direction. Applications may open before the end of 2026, and a licensed exchange serving Cambodians would immediately change this ranking.

Record every dollar sent to a P2P seller and trade only from accounts in your own name. Keep long-term savings in a wallet you control. Our Thailand and Vietnam guides cover nearby markets with similar P2P funding patterns.

Our Methodology

We assessed the platforms as a Cambodian resident would use them in September 2026, after the SERC and NBC joint notice. The ranking reflects six criteria:

1. Trust score: A verdict from 0 to 5 based on security incidents and the response, reserve disclosures and their verifiers, and licenses held abroad.
2. Cambodian funding in practice: Seller counts in USD and KHR for each payment method, checked three times a day. We also completed purchases through ABA, ACLEDA, and Wing and timed each escrow release.
3. Full round-trip cost: The dollar premium paid on entry, spot trading fees, network withdrawal charges, and the discount on selling back to USD or KHR.
4. Access and regulatory position: App access on a standard Cambodian connection, status under the 2018 statement and 2026 notice, and licenses held elsewhere.
5. Product depth: Markets, order types, copy tools, bots, Earn products, and wallets accessible to accounts verified with Cambodian documents.
6. Bank scrutiny risk: Standards for merchant verification and dispute handling, along with the likelihood that a transfer pattern triggers a Cambodian bank review.

Testing ended on 27 September 2026. Legal and tax statements draw on NBC, SERC, GDT, US Treasury and Justice Department documents. Press coverage is used only when no official text exists. The full review framework is set out in our editorial methodology.