There’s been a lot of news about Bitcoin, and if it’s upcoming interest you might be asking how to start trading in this digital currency as Bitcoin. Here below is a guidelines by Dealsee on how to buy bitcoin in Thailand.
If you live in Thailand and want to begin investing in crypto as Bitcoin or other, this post exactly for you.
To help provide you more understanding into cryptocurrency market and bitcoin trading, here is a breakdown of what Bitcoin is and proper step by step study to buying and selling it in Thailand. At the end of this article you will get full information how to buy bitcoin in Thailand!
Buying Bitcoin: The Basics
Before You Buy Bitcoin
What is Bitcoin and How Does It Works?
Cryptocurrency Bitcoin is a decentralized digital currency that everyone is able to buy, sell or exchange with any other person, without any mediators as a bank provider. Every existing Bitcoin transaction on a public ledger visible to everyone, doing transactions hard to reverse and it’s difficult to make it fake. Some details inside: basis to their decentralized beginning, Bitcoins aren’t backed by the government or any issuing bank providers, and certainly there’s nothing to guarantee their real value beside proof which is created in the center of the system.
Blockchain, the technology which stands behind Bitcoin and overall other cryptocurrencies is kind of ledger where someone owns every bitcoins. Basically, every transaction done with bitcoins is automatically sent to the decentralized network and mined into the blockchain. From this point you can understand that if you own bitcoins, you can own the ‘crypto digital keys’ to unlock and spend those money or exchange via cryptocurrencies trading, unlike traditional currencies which need to participating with bank regulations.
Where Can I Buy Bitcoins?
As you can already guess, your most visited destination to buy bitcoins is a Bitcoin exchange platforms.
Here I will recommend one platform which is world’s largest crypto exchange and has lowest commission for transaction. The name of this platform – Binance
You will need create an account and enter a payment method. At Binance you’ll be asked for information such as your bank account details. You’ll then need to prove your identity with a driver’s license, national ID or passport. Usually verification complete by 1 or 2 days, after it’s been completed, you can start buying Bitcoin or other cryptocurrency with your chosen payment method, transferring it to your personal wallet and watching with greater interest as its price changing every second.
How to Invest in Bitcoin
With rapid growth, Bitcoin start to be as an interesting value for investment. Just during less than an year it grows from 8,000$ to 60,000$, meaning if you would invest for example 100,000 THB in August 2020, you would get almost an 800,000 THB in May 2021. It’s over 800%!
Many people invest in Bitcoin only by purchasing in Binance and holding the cryptocurrency in your wallet. Mostly people who believe in Bitcoin’s long-term base, they don’t see any volatility in the short term as they focus on a long journey to get the highest value later on.
Then, as with any stock or trading app, you will have an access to your Bitcoin’s price evolution & performance. When you buy, your purchase is kept safe in an encrypted wallet where only you have access to manage it. When you feel that Bitcoin get the peak time, you will need to immediately sell it and get profit.
How to Buy Bitcoin in Thailand?
Currently there are a few ways you can buy Bitcoin in Thailand – here are some of the main ones.
- Buy bitcoins from a bitcoin exchange Binance – keep or trade, depends on your purpose.
- Receive bitcoins for goods and services. Having your own business? Start to accept bitcoin for payment!
- Mine your own Bitcoins – in case you have computer, you can get thousands baht per day.
Who Accept Bitcoin in Thailand?
After our guidelines you should know how to get bitcoins, you’ll probably want to know what you can do with bitcoins in Thailand. As cryptocurrency continues to become more popular in Thailand, the range of things you can spend your bitcoin currency on is getting bigger every day.
Do You Want to Know More Information about Bitcoin?
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