Best Crypto Exchanges Vietnam
Learn about the best crypto exchanges in Vietnam, providing a comprehensive guide for safe and efficient digital currency trading.
Summary: In Vietnam, purchasing Bitcoin and other cryptocurrencies is becoming progressively easier, although it's yet to receive official recognition from the State Bank of Vietnam. Despite this, individuals and companies can engage in cryptocurrency activities, making use of popular payment gateways like bank transfers for transactions involving Vietnamese Dong (VND).
Our expert team has carefully curated a list of the top 5 platforms in Vietnam to aid you in stepping into the cryptocurrency sphere with confidence. Here are the best choices for you:
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Best Cryptocurrency Exchanges in Vietnam
Following a thorough examination of over 15 digital currency platforms, we present the top exchanges for investors in Vietnam. Our evaluation process considers essential aspects including approval by the State Securities Commission of Vietnam (SSC) or a comparable regulatory body, the range of available cryptocurrencies, user experience, options for depositing Vietnamese Dong, fee structures, and several other criteria to accurately rank these platforms.
1. Bybit
Bybit has emerged as the premier cryptocurrency exchange in Vietnam, setting itself apart with a user-friendly platform tailored for the Vietnamese crypto community. It boasts a vast selection of over 1,000 digital assets, providing a secure trading environment on its fully regulated platform. Bybit stands out for supporting local payment methods, including bank transfers, ViettelPay, Momo, ZaloPay, and more, facilitating easy Vietnamese Dong deposits.
The platform excels with a broad range of cryptocurrencies, staking options, and futures contracts, offering up to 100x leverage and unmatched liquidity. This diversity caters to different investment strategies, making it attractive to a wide audience. With competitive fees—maker fee at 0.01% and taker fee at 0.06%—and a global user base of over 20 million, Bybit solidifies its position as a leading name in the market.
- Fees: Maker fee at 0.01%, taker fee at 0.06%.
- Supported Cryptocurrencies: Access to over 1,000 digital assets.
- Regulation & Licensing: Adheres to international regulatory standards, ensuring a safe and secure trading environment in Vietnam.VND
- Deposit Methods: Offers a range of local payment options including bank transfers, ViettelPay, Momo, ZaloPay, enhancing accessibility for Vietnamese users.
2. Binance
Binance secures its position as the second-best crypto trading platform in Vietnam, operating as a worldwide behemoth with over 120 million users spanning across more than 100 countries, Vietnam included. It offers a plethora of features, encompassing spot, futures, margin, options trading, staking services, and a decentralized exchange (DEX). Additionally, the platform facilitates 24/7 customer support in multiple languages, including Vietnamese.
This platform distinguishes itself from its competitors through its substantial liquidity depth, flaunting the most considerable volumes across a broad array of crypto assets. This distinctive attribute grants users the advantage of seamless transactions, even for high-volume trades, augmenting its attractiveness among Vietnamese investors.
- Fees: Spot trading is 0.1% fee and derivatives are maker/taker fees at 0.02%/0.04%.
- Supported Cryptocurrencies: 350+ Cryptocurrencies.
- Regulation & Licensing: Globally licensed and available to investors in Vietnam.
- VND Deposit Methods: Bank Transfers, Credit Card, Debit Card and more.
3. OKX
OKX clinches the third place in Vietnam, demonstrating a deliberate emphasis on catering to institutional investors. The platform showcases sophisticated trading instruments, a vast array of cryptocurrencies, and competitive transaction charges. It accommodates diverse trading instruments such as futures, options, and margin trading, offering institutional patrons enhanced flexibility and risk management opportunities. OKX also boasts an OTC desk that offers white-glove services and onboarding for family offices and institutional investors.
The platform's unwavering commitment to safety shines through its provision of the safest and most well-audited staking service. Alongside its robust security measures, the platform's adherence to regulatory compliance and its comprehensive API services make it an appealing choice for Vietnamese institutional investors in pursuit of a dependable and technologically adept platform.
- Fees: 0% for makers and 0.2% for takers. Flat 0.1% fee for instant spot trading.
- Supported Cryptocurrencies: Over 300 cryptocurrencies available, including leveraged trading options for advanced investors.
- Regulation & Licensing: Regulated by VARA (Dubai), SFC (Hong Kong) and available in Vietnam.
- VND Deposit Methods: Bank transfer, ViettelPay, debit card, credit card, and other options are available.
4. BitcoinVN
BitcoinVN, founded in late 2013 by a team from Vietnam and Germany, has become the fourth-leading cryptocurrency exchange in Vietnam. It acts as a crucial bridge between the traditional fiat economy and the growing digital currency market. Inspired by Satoshi Nakamoto's vision, BitcoinVN, under the guidance of founders Nguyen Tran Bao Phuong and Dominik Weil, aims to democratize access to the global peer-to-peer economy for both Vietnamese residents and international users.
Since its launch, BitcoinVN has played a key role in familiarizing the public with the Bitcoin ecosystem, streamlining the process of exchanging, receiving, and holding digital currencies. Its accessible platform, BitcoinVN.io, facilitates smooth transactions across 85 different assets, including the Vietnamese Dong, enhancing user convenience with options for cash and bank wire transfers.
- Fees: Trading fees are based on a maker-taker model with a 0.05% taker fee and 0.03% maker rebate.
- Supported Cryptocurrencies: Over 85 cryptocurrencies are available for trading, with a focus on the most popular and liquid assets.
- Regulation & Licensing: Regulated by the State Securities Commission of Vietnam (SSC).
- VND Deposit Methods: Multiple options available, including bank transfer, credit card, and e-wallets such as MoMo, Vietcombank, and others.
5. Gate.io
Occupying the fifth position in the ranks of best platforms in Vietnam, Gate.io has cemented its status as a reliable and efficient platform since its establishment in 2013. With a remarkable 24-hour trading volume of $4.41 billion, the platform facilitates the trading of over 1,700 cryptocurrencies, attracting more than 13 million users globally. Gate.io stands out for its user-friendliness, offering easy and quick registration via email or phone, and is a favorite hub for both new and seasoned traders.
Apart from boasting a rich portfolio of cryptocurrencies, Gate.io is noted for its innovative product ecosystem. It encompasses features like Spot, Margin, and ETF trading, offering a versatile trading experience with options for leverage and ETFs. The platform also provides perpetual futures with high leverage opportunities, amplifying potential earnings. In addition to these, Gate.io takes pride in offering advanced trading bots with various quantitative strategies, assisting users in optimizing their trading approaches.
- Fees: No deposit fees, and low trading fees at 0.1% for spot markets and 0.02%/0.06% for maker/taker rebates.
- Supported Cryptocurrencies: Over 1,400 cryptocurrencies available, including leveraged trading options.
- Regulation & Licensing: Unregulated platform that does not require KYC or AML.
- VND Deposit Methods: Options include bank transfer, P2P trading, credit/debit card, and crypto deposits.
Is Crypto Legal in Vietnam?
In Vietnam, the legal status of cryptocurrencies remains somewhat complex. The State Bank of Vietnam (SBV), which is the country's central financial authority, has not granted cryptocurrencies the official status of a recognized payment method. Consequently, using cryptocurrencies for payment transactions is not sanctioned and thus, these transactions are not protected by Vietnamese law.
However, this does not mean the possession or trading of cryptocurrencies is illegal; individuals and businesses can still engage in crypto activities but should exercise caution and remain informed about the evolving regulatory landscape. Various governmental bodies, including the Ministry of Finance and the Ministry of Justice, are actively engaged in discussions to formulate a regulatory framework that could potentially oversee cryptocurrency activities in the nation.
How is Crypto Taxed in Vietnam?
In Vietnam, cryptocurrencies are not currently subjected to taxation, reflecting the government's stance of not recognizing them as legal tender. The absence of crypto taxes is attributed to the lack of a legal framework that enables the tax authorities to classify digital assets as taxable.
This regulatory gap is under review, with the State Bank of Vietnam, following directives from Prime Minister Phạm Minh Chính, working on developing guidelines that could introduce tax measures and user protections in the future. This move aims to create a more regulated and secure environment for cryptocurrency trading and investment, potentially fostering greater trust and adoption among both retail and institutional investors.
Bottom Line
As the cryptocurrency landscape evolves in Vietnam, it's clear that platforms like Bybit, Binance, OKX, BitcoinVN, and Gate.io are leading the charge, providing secure and user-friendly options for both new and experienced investors. With no current crypto taxes and a regulatory environment that's still taking shape, these platforms offer a promising gateway for Vietnamese investors to explore the vast potential of digital currencies.
This dynamic environment underscores the importance of staying informed and selecting platforms that best meet your investment needs and preferences. As regulations evolve, these exchanges stand ready to offer not just trading opportunities but also a degree of security and reliability in the fast-paced world of cryptocurrency.
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