Bitcoin and other cryptocurrencies are gaining popularity around the world, including in Cambodia. However, buying Bitcoin in Cambodia can be confusing for beginners given the lack of clear regulations around digital assets in the country. This article provides a step-by-step guide on the easiest ways to purchase Bitcoin and store it securely if you live in Cambodia.
We will give an overview of the cryptocurrency landscape and its legal status, list some of the exchanges you can use, and recommend secure Bitcoin wallet options to hold your new virtual funds once you acquire them. With a bit of guidance, buying your first Satoshi’s need not be difficult even in a market as nascent as Cambodia.
What you'll learn 👉
Crypto Regulations in Cambodia
In Cambodia, the legal status of cryptocurrencies remains ambiguous due to the absence of a dedicated legal structure governing their issuance or usage. The National Bank of Cambodia has yet to sanction any form of cryptocurrency, and the existing legal system does not recognize or regulate them. Consequently, the creation, distribution, or trading of cryptocurrencies is illegal in the country.
Despite this, there are indications of a growing openness to acknowledge and regulate digital assets. Cambodia has engaged in dialogues with entities like Binance to formulate regulations for digital assets. Currently, there are no specific laws or regulations in place concerning the use of cryptocurrencies in Cambodia, and the establishment of a legal framework for them is still in progress.
Easiest and cheapest ways to buy crypto in Costa Rica
Getting bitcoins in Costa Rica is not an easy task as not all popular crypto exchanges are available to Costa Rica citizens. This is a current list of bitcoin exchanges that allow users from Costa Rica to buy crypto. They all support buying crypto with credit/debit cards but some of them offer other payment methods as well.
👛 Ease of Use – Medium 👛 Fees – Low 👛 Verification – 1 Day 👛 Reputation – Trusted 👛 Supported fiat – USD, EUR, GBP, AUD, RUB
Binance was launched back in July of 2017 and very quickly became the world’s largest cryptocurrency exchange by trading volume with more than $1 billion on a daily basis.
There are various reasons why Binance became so popular so quickly with the main ones being a professional attitude, friendly and transparent CEO, low trading fees, and the large number of cryptocurrencies supported by the platform. In fact, the number of cryptocurrencies supported is over 350 and Binance is supported in over 60 countries. The founder of the exchange is Changpeng Zhao. Binance’s headquarters are unknown.
⚡️ Deposit fees: Free ⚡️ Withdrawal fees: Vary from crypto to crypto ⚡️ Trading fees: 0.1% ⚡️ Payment Methods: Debit Card, Credit Card, SWIFT, Bank Transfer (SEPA), and more ⚡️ Supported fiat: USD, EUR, GBP, AUD, RUB, and 15+ more
The largest cryptocurrency platform Various advanced services and features Low fees and high liquidity A large number of cryptocurrencies supported
👛 Ease of Use – Easy 👛 Fees – Average 👛 Verification – 2-3 Days 👛 Reputation – Trusted 👛 Supported fiat – USD, EUR, GBP, JPY, CAD
Kraken stands as a premier cryptocurrency exchange that has been serving the crypto community since 2011. With its platform, users can buy, sell, and trade over 220 different digital assets, including but not limited to Bitcoin, Ethereum, and Cardano. One of Kraken’s most notable features is its unwavering commitment to security, ensuring that users’ assets are protected.
The platform is globally accessible, reaching over 190 countries, though there are a few exceptions like North Korea and New York state. Furthermore, Kraken offers a plethora of payment methods, from traditional credit cards to modern solutions like Apple Pay.
For those dealing in fiat, multiple currencies are accepted, with the U.S. dollar being a popular choice. Advanced traders will also find the platform accommodating, with tools tailored to their needs.
⚡️ Deposit fees: EUR SEPA Deposit (Free) – EEA countries only USD Bank Wire Deposit ($5 USD) – US onlyEUR Bank Wire Deposit (€10) – outside the US only USD Bank Wire Deposit ($10 USD) – outside US onlyJPY Bank deposit (Free, ¥5,000 deposit minimum) – Japan-only USD, Wire Deposit (Free) ⚡️ Withdrawal fees: Cryptocurrency: Fees vary, SEPA Withdrawal (€0.09) – EEA countries only USD Bank Wire Withdrawal ($5 USD) – US only USD Bank Wire Withdrawal ($60 USD) – outside US onlyEUR Bank Wire Withdrawal (€60) – outside US onlyJPY Bank withdrawal (¥20) – Japan onlyCAD EFT Withdrawal ($10 CAD) ⚡️ Trading fees: Maker: 0.16%Taker: 0.28% ⚡️ Payment Methods: Fedwire, Bank Transfer (SEPA), SWIFT, Wire Transfer, Etana Custody, Silvergate Exchange Network (SEN), FPS, CHAPS, and BACS, PayID, Osko ⚡️ Supported fiat: USD, EUR, GBP, JPY, CAD
170+ countries supported Never been hacked Mobile App (iOS and Android) Various payment methods A wide range of cryptocurrencies is available
Fees slightly above the industry average Limited customer support
👛 Ease of Use – Easy 👛 Fees – High 👛 Verification – 1 Day 👛 Reputation – Trusted 👛 Supported fiat – USD, EUR, GBP, RUB
Cex.io is one of the older centralized cryptocurrency exchanges that is still going strong, adding new coins and features to its trading platform every month. Founded in 2013, this exchange is one of the oldest Bitcoin exchanges. Cex.io is based in London, UK.
Cex.io is a global exchange that is available in over 180 countries and is registered with FinCEN. The platform follows AML (anti-money laundering) and KYC (know your customer) policies and offers a range of services including fiat to crypto purchases, spot trading, margin trading, staking, leverage, lending, and savings.
Regulated and licensed Over 4 million users worldwide Fast support Various payment options
Just 4 fiat currencies are available Extensive Verification Process
Best Bitcoin Wallets in Cambodia
It is never a good idea to keep your coins on an exchange as that exposes you to numerous risks (exchange hacks, fund freezes by the exchange or some government regulatory body, etc). That is why you should use one of the wallets we list below to store your digital assets.
But, which bitcoin wallet is available in this country?
The safest option is a hardware wallet like Nano X but ZenGo is also a good choice, especially for newcomers.
👛 Ease of Use – Easy 👛 Fees – Low 👛 Verification – 1 Day 👛 Reputation – Trusted 👛 Supported fiat – USD, EUR, GBP, and more
LocalBitcoins is one of the largest peer-to-peer service platforms on the crypto market. It was launched in 2012 in Finland and was founded by Nikolaus Kangas. Since then, LocalBitcoins has achieved enormous growth, which led to it becoming the leading marketplace for Bitcoin exchange services. The only currency LocalBitcoins supports is Bitcoin.
The feature that makes LocalBitcoins unique is the direct contact between users. Most exchanges match sellers and buyers manually without the possibility of communicating directly. Users from all around the world can meet and trade Bitcoins through a fairly simple process. This is why LocalBitcoins is considered to be the “Craigslist” of Bitcoin. The platform is accessible worldwide, precisely in 248 countries.
However, services of LocalBitcoins aren’t available in Washington and New York. Features such as futures trading, derivatives, margin trading, short selling, or any other option aren’t supported. This is because LocalBitcoins doesn’t work as a traditional trading platform.
👛 Ease of Use – Easy 👛 Fees – High 👛 Verification – 1 Day 👛 Reputation – Trusted 👛 Supported fiat – USD, EUR, GBP, CAD, AUD
Founded in 2013 in Israel, Coinmama is one of the oldest crypto exchanges in the business. With its current headquarters in Dublin, Ireland, this centralized cryptocurrency exchange allows its users to quickly and securely buy and sell cryptocurrencies.
Coinmama is a popular platform used by 1.5 million people in more than 150 countries (except for 11 states in the United States). The company is registered with The Financial Crimes Enforcement Network (FinCEN) in the United States and ensures that the coins purchased through their platform are directly transferred to the user’s non-custodial wallet, rather than being kept in Coinmama’s own wallets.
⚡️ Deposit fees: 0 – 5 % ⚡️ Withdrawal fees: None ⚡️ Trading fees: 2.9 – 3.9 % ⚡️ Payment Methods: Bank Transfer (SEPA), SWIFT, Fedwire, Bank cards, Open Banking, Google Pay, Apple Pay, Skrill ⚡️ Supported fiat: USD, EUR, GBP, CAD, AUD
Available almost worldwide Mobile App (Android and iOS) Good for Beginners Good Support Various payment methods
A small selection of available cryptocurrencies Not the lowest fees Can’t do anything on the platform other than purchases and sells of coins
Frequently asked questions about buying Bitcoin in Cambodia
How can I buy Bitcoin in Cambodia❓
You can buy Bitcoin in Cambodia on any of the exchanges mentioned in this article.
What Bitcoin wallet does Cambodia use❓
You can use Exodus and Ledger in Cambodia.
Where can I sell bitcoins in Cambodia❓
You can sell Bitcoin in Cambodia on any of the exchanges mentioned in this article.
Is Bitcoin mining legal in Cambodia❓
The National Bank of Cambodia (NBC), has “asked banks in Cambodia not to allow people to conduct transactions with cryptocurrencies.” On 7 December 2017, Bank Indonesia, the country’s central bank, issued a regulation banning the use of cryptocurrencies including bitcoin as payment tools starting 1 January 2018.
Is crypto illegal in Cambodia❓
In Cambodia, where trading cryptocurrency is illegal, trading levels were too low to make the table, although some investors here are actively trading through foreign platforms.
Cambodia’s central bank is trying to encourage cashless transactions and wean people off US dollar transactions with a digital alternative.
Is Kraken available in Cambodia❓
Yes, Kraken is available in Cambodia.
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As the Head of Content at Captainaltcoin, I bring years of experience in the crypto industry. With a strong belief in the potential of the web3 market since 2017, I'm passionate about sharing valuable insights and knowledge.
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