Buy And Sell Bitcoins In Vietnam, With Cash And Online

Bitcoin in Vietnam giới is a hot topic these days. Despite opposition from the banks & government, there’s still a thriving cryptocurrency market with lots of promise.

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Bitcoin is growing in value all the time, which makes it an igiảm giá khuyến mãi opportunity for investors to make money. At the time of writing, a single Bitcoin is worth 338 million Vietnamese Dong (if you want to lớn trade Bitcoin VND is accepted on many platforms).

In 2017, 7,000 new Bitcoin mining rigs were mix up in Vietnam giới, và 5,000 of these came in after November. This suggests a huge amount of activity in Vietnam’s Bitcoin economy.

Because of the strong stance the banks have taken against cryptocurrency in Vietnam, it’s important to get lớn know the rules first, but buying & selling Bitcoin in the country can be highly rewarding.

Things khổng lồ Know Before You Get Started

Regulations

Bitcoin is becoming heavily regulated in many parts of the world, và Vietphái nam has recently taken some steps in this direction. As of 2018, it is illegal to use Bitcoin lớn pay for things in the country.

Anyone breaking this law is liable to lớn face a large fine và maybe even imprisonment. This means it’s very important to lớn be careful and understvà the law when dealing with Bitcoin in Vietnam giới —but it doesn’t mean that it’s illegal lớn invest in Bitcoin in Vietphái mạnh.

The law doesn’t prohibit investing in Bitcoin — just don’t use it to lớn buy products và services in Vietphái nam. Also, new legislation as part of a wider economic upheaval will attempt to lớn tax Bitcoin assets in the country, so make sure you pay what you owe.

Support for Bitcoin in Vietnam

While the government might be against Bitcoin, the good news for investors is that there’s still a large community of Bitcoin enthusiasts in Vietphái mạnh. There are four Bitcoin ATMs in the country, all located in Ho Chi Minh City.

There are also plenty of online resources where Bitcoin fans can interact and tóm tắt ideas. These include a number of Facebook groups, and forums lượt thích the Vietphái mạnh branch of Bitcointalk. There are also several platforms so if you want to lớn buy Bitcoin online Vietphái nam is well prepared.

Some shops in the country also accept payments in Bitcoin, although it’s worth noting that this is now illegal and it’s unclear how the new laws will khuyến mãi with these businesses. Remember, if you wish khổng lồ purchase in Bitcoin Vietphái mạnh may not be the best place khổng lồ vì chưng this.

However, if you’re careful and responsible & wish khổng lồ invest in Bitcoin Vietphái nam is perfectly fine.

Other Cryptocurrencies

Vietnam’s recent laws focus on Bitcoin, although they probably apply khổng lồ all other cryptocurrencies too, so exercise caution.

While Bitcoin is the most well-known và valuable cryptocurrency, there are many others that are worthy of investment. These include Ether (ETH), Ripple (XRP), và Litecoin (LTC).

These are good choices because they’re fairly stable & reliable, & likely to lớn grow in value. There are also many other, less well-known cryptocurrencies which might not be such a good choice, because they’re more likely to lớn fail và thảm bại value.

How lớn Buy Bitcoin in Vietnam

There are two main methods for those who wish to purchase Bitcoin in Vietnam giới, and the one you use will depend on your preferences và reasons for buying. If you want to lớn buy BTC online, VND is accepted in some places but not all.

The two options are to buy as a CFD, or khổng lồ buy directly from cryptocurrency exchanges. Each has its own pros và cons, which will be covered in the next section.

Buying Bitcoin as a CFD in Vietnam

CFD stands for ‘contracts for difference’, & it’s a way of trading that is traditionally used for stochồng market exchanges. It’s a good method for beginners because of its safety và simplicity.

Why choose the CFD method?

When you buy Bitcoin as a CFD you can trade on leverage. This means you don’t have lớn put down the full amount of the trade when you buy, just a fraction of it. The benefit of this is that you can giới thiệu your money over multiple trades.You’re exposed to lớn the liquidity of two markets. In simple terms, this means that it’s much easier khổng lồ sell your coins và leave sầu a market (it can happen straight away). With other methods you may have sầu to lớn wait a while for sometoàn thân else lớn buy your Bitcoin.There’s a lot of regulation, và powerful organisations exist to enforce the rules with CFD trading. This means your risk of being scammed is lower than with other methods, và if something goes wrong you’ll get better help and tư vấn.Finally, you can expect lower fees và more flexibility with payment methods.

Using eToro to lớn buy Bitcoin

eToro is one of the best platforms out there when it comes to buying Bitcoin as a CFD. That’s because it’s very user-friendly, supports a wide range of payment methods, & has low fees.

This guide will explain how best khổng lồ buy Bitcoin from eToro. It’s supported in Vietnam, as well as most countries in the world.

Step One – Join eToro by going onto the trang web & clicking the button marked ‘Join Now’, as shown here:

This will lead to lớn a screen that looks lượt thích the one below. Here you must enter your name, along with a username và a password.

Step Two – get ready to lớn trade. After signing up you’ll need to lớn add funds khổng lồ your account so you can buy Bitcoins. To vì this, cliông xã the button marked ‘Deposit Funds’ in the bottom left corner of the homepage, which looks lượt thích this:

This will take you khổng lồ a payment screen, where you can enter the amount of money you wish lớn deposit along with your chosen method of payment. One of the great things about eToro is the range of payment options. These include credit card, PayPal, and many others. Fill in your billing details.

eToro only works with a small number of currencies, và for those who wish to lớn invest in Bitcoin VND isn’t one of them, but it’s easy to lớn use another currency & work out the amount using a calculator or conversion tool.

For deposits over 2000 euros, you may be asked to provide identification.

Step Three – buy some Bitcoin from one of the markets. In the sidebar on the left hvà side of the screen there is a ‘Trade Markets’ option. Cliông xã this khổng lồ access the range of markets you can use. The best one for buying Bitcoin is the ‘crypto’ market. Clichồng this one.

On the next screen, find Bitcoin & clichồng the number marked ‘B’ at the over of the same row. This will take you to lớn a screen where you can buy.

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Almost there! On this interface, you simply need khổng lồ enter the amount of Bitcoin you wish to purchase. You can also phối a ‘stop loss’ amount and a ‘take profit’ amount lớn make the process more automated and easier.

Hit the ‘Open Trade’ button lớn finish the process. Congratulations! You just bought some Bitcoin as a CFD.

Buying Bitcoin directly from an exchange

The downside to buying Bitcoin as a CFD is that you don’t actually own the assets. When you buy from an exchange or from another person, you’ll actually be the owner of the coins you pay for.

When buying from an exchange, there are many options available to you in Vietnam giới. There are Vietnam-specific crypkhổng lồ exchanges like VBTC, & plenty of international exchanges like Coinbase & Localbitcoins.

To get started in this process, one of the main things you’ll need is a cryptocurrency wallet.

Cryptocurrency wallets

Digital wallets don’t actually hold your coins. Instead, they’re home page khổng lồ two quality security keys (public and private) which you can use to access your coins & carry out transactions like buying & selling.

These come in many shapes and sizes, & the type you get will depkết thúc on how concerned you are about things like convenience & security.

Here are some of the main types of crypto lớn wallet:

Online wallets — these are the kind you get when you sign up for an exchange. They’re based online, which means they can be vulnerable lớn hackers. On the plus side, they’re easy to access & manage.mobile wallets —these are stored on your phone, usually as an phầm mềm. This makes them very convenient as you can access them from almost anywhere, và use them to make purchases in places lượt thích cafes and shops. However, they’re only as safe as your phone is.Software wallets —these are stored on your computer, but offline. They’re sometimes called desktop wallets, và are safer than online versions because they’re tougher for hackers to lớn access. The downside is that they aren’t as convenient.Hardware and paper wallets —these are the least convenient types of wallet because they’re stored offline, away from the computer. Hardware wallets are kept on things lượt thích removable disk drives, and paper wallets are security keys printed onto paper. These are, however, extremely safe if you look after them properly.

Once you’re familiar with crypto lớn wallets và how they work, you can begin the process of buying from an exchange. Fortunately this is quiông xã & easy. The two main ways are to lớn buy from a centralised exchange lượt thích Coinbase, or directly from another person on an exchange like Localbitcoins.

The second option has lower fees, but it’s important lớn make sure you’re trading with a trustworthy person.

Buying Bitcoin in Vietnam giới with Localbitcoins

Localbitcoins is a great way to trade Bitcoin in Vietnam giới because it’s user friendly & affordable. It works by connecting buyers và sellers of Bitcoin, and you can buy using the platsize or by meeting in real life lớn pay in cash. It also uses Vietnamese Dong; whereas with many platforms if you want to lớn purchase Bitcoin with fiat currency, VND is not an option.

Step One – sign up to lớn Localbitcoins by visiting the website and entering your name, gmail address, & a password.

Step Two – find a seller. Localbitcoins has a great search interface, where you can look for sellers based on their country, region, preferred payment method, and how much you wish lớn buy. Payment methods are always mix by the seller.

You can select currency, & for buying Bitcoin VND is accepted on Localbitcoins.

The search results will show all the users who match your criteria along with some information. This is important because it shows how trustworthy they are — this will help you avoid scams.

The % number next to lớn each user’s name shows their feedbaông chồng score, so ayên ổn for users with the highest scores here. The number next to lớn this one shows their number of completed trades. Again, higher is better.

The colour next to lớn their name shows how quickly they usually reply. Green means less than five minutes, yellow means less than 30 minutes, và grey means more than 30 minutes. This is probably less important than the first two numbers, but worth checking if you want to lớn urgently complete the trade.

Step Three – find a user who looks reliable and safe, and buy some Bitcoin! First kiểm tra how much they’re selling the Bitcoin for (the number in green in the price/BTC column). Then, clichồng ‘Buy’ to finish the trade.

Đánh Giá the final terms and the seller’s profile, và then when you’re ready cliông chồng ‘Send Trade Request’ khổng lồ be taken khổng lồ a payment screen.

Now you’ve finished the trade and successfully purchased Bitcoins from another person. There is a small transaction fee in order khổng lồ pay the Bitcoin miners, but otherwise no costs.

When it comes to lớn Bitcoin Vietphái nam might have sầu some strict regulation, but as this guide shows it’s still legal and easy to buy Bitcoin online in the country.

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Rethành viên lớn stay educated on the law & take as many steps as possible to lớn stay safe when trading cryptocurrencies. For those wishing khổng lồ trade Bitcoin Vietnam giới is still a good place to lớn bởi vì this.