BX Thailand Review
BX Thailand Is a one of the major crypto-exchanges in Thailand. It allows locals access to Bitcoin and other digital coins via Thai Baht and also to trade one digital coin against another.
Like most cryptocurrencies, BX Thailand offers a single account type with no margin trading option. There is Two-Factor authentication available at this exchange, as well as a wallet.
BX Thailand Advantages
Many altcoins offered
This exchange offers a plethora of digital cons for trade. Apart from Bitcoin, at BX Thailand one can trade in popular cryptocurrencies such as Ethereum, Bitcoin Cash, Dash, Litecoin, Zcash, Doge coin and many others.
Trading against THB, Thai bank transfers supported
Another obvious advantage of this exchange is the fact users can trade with their local currency, Thai Baht. Being able to deposit and withdraw THB via bank transfer is also a significant convenience to locals, although bank transfers can take up to several days and also involve some fees. This makes the company much more appealing to local crypto-traders.
Clear presentation of the fees
Another thing which we like about BX Thailand is the clear and precise presentation or the fee structure. Transparent pricing is an obligatory element of each reliable company’s offering.
BX Thailand doesn’t charge deposit fees, except for very small deposit amounts. Withdrawals, on the other hand are charged with some fees, which are competitive, when compared to what other exchanges charge. For example, withdrawals in Bitcoin are charged with 0.0005 BTC.
As regards trading fees of BX Thailand, the exchange applies a flat fee of 0.25%, which is in line with the average in the sector.
Nice platform with detailed charts
This exchange offers two trading interfaces – a white one, as well as a dark “tradeview”. The white one seems simpler, but has an option for detailed advanced charts.
The dark interface, on the other hand, seems more “professional” – it has a clean order book, there is a market depth window and charts are equipped with some basic trend lines.
A wallet service available
BX Thailand also provides an in-house wallet, which is always a useful part of an exchange’s offering.
BX Thailand Disadvantages
Mainly suitable for residents of Thailand
The main benefit of this exchange is also its main flaw, which is often the case with local players. If you are not living in Thailand, BX Thailand will hardly be of much benefit to you, as the most liquid pairs are the ones with THB. Besides, other popular fiat currencies like USD or UER are not supported.
No margin trading
BX Thailand does not provide margin trading, which is typical for most crypto-exchanges. If you need some leverage, other, usually larger exchanges offer such (Kraken, QUOINE, to name a few). Besides, all forex brokers who offer speculative trading in Bitcoin CFDs offer some leverage.
BX Thailand is one of the major crypto-exchanges in Thailand. It is mainly suitable for local investors, as it accepts THB. Besides, the exchange supports wide range of altcoins and crypto-to-crypto trading is also enabled. Another strong side of BX Thailand is the clear presentation of fees, which are in line with the industry’s average. In addition, its trading platform has detailed advanced charting option, and there is also a mobile wallet service.
As a whole BX Thailand seems like a credible exchange. It is operated by Bitcoin Co. Ltd., a Thai registered company since 2013 that also stands behind websites Bitcoin.co.th and CoinPay.in.th. According to the information on BX Thailand‘s website, 80-90% of the funds are kept offline in cold storage and the company promises that if any assets are stolen from the exchange, the it would cover the loses of its clients to the full extent.
While this may be the case, we feel must reiterate the inherit risks involved with the cryptocurrency venues. In case you are prefer to invest with a well-regulated company, you may also speculate on the price of Bitcoin and other cryptocurrencies with a forex broker. Below, you can find a list of trustworthy brokerages that offer trading in Bitcoin.
BX Thailand Review Conclusion
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