While the use of cryptocurrencies is banned in Vietnam, the number of searches for how to buy Bitcoin in Vietnam in 2021 hasn’t slowed down. While we’re not encouraging any illegal activity, we’re going to answer the question so many of you are asking and leave it right here. According to leadership at Bitcoin Vietnam, “since Bitcoin isn’t legally defined as a currency, a means of payment, it cannot then be defined as an illegal means of payment.” While you can’t use Bitcoin as a payment method, you should still be able to hodl. Right, let’s get into it.
How To Buy Bitcoin Via Bank Transfer – Kraken
One of the oldest and most respected exchanges out there, Kraken has been delivering top crypto service to the world since 2011. It has also been voted one of the safest exchanges, so rest assured that your funds are safe with these guys. Catering to over 170 countries around the world, the platform is known for their fast transactions, low fees (0.25% takers fee and between 0% to 0.1% makers fee depending on trade volume) and their great customer service. Should you be after anything else, the platform offers a range of over 40 cryptocurrencies.
Now down to how to buy Bitcoin via bank transfer. For starters you are going to need to open an account on the platform and complete their simple KYC verification. Once you’ve completed these two steps you can log in and select Funding from the top menu. From the next screen select a currency of choice and click Deposit next to it. Now you will be given an option to select which bank you would like to use, before being given all the banking details you’ll need in order to make the deposit. Make sure that you note the unique reference number given to you as this is vitally important to your deposit.
Once you have the details, log into your bank account and make the deposit using your reference number. After the transaction has gone through you will see the funds reflect in your Kraken wallet, and from there can buy BTC. Choose the Buy Crypto option from the menu and select Bitcoin. Enter how much you want to buy, from which wallet to take the funds, and complete the transaction.
How To Buy Bitcoin Via Credit / Debit Card – Coinmama
Coinmama offers the perfect solution for anyone looking to buy Bitcoin via credit / debit card anywhere in the world. The simple to use platform offers a seamless experience, and is perfectly suited to those new to the cryptocurrency industry. Having been in business since 2013 the platform has been around the block and provides services to over 2 million people across over 180 countries. Note that only Visa and Mastercard are accepted forms of credit / debit cards.
Before buying any Bitcoin, you will need to open an account and complete the KYC verification, this can all be done under 30 minutes. When you’re logged in, select Buy and then select Bitcoin from the drop down menu options. Coinmama will then give you the option of several precalculated packages or you can enter the amount you would like to buy. It’s worth noting in this guide that the fees are on the high side, however most traders feel that the level of service justifies this. Once you’ve confirmed the amount of Bitcoin, enter your Bitcoin wallet address and select your preferred payment method. Enter your credit / debit card details and personal information requested. Once the transaction has taken place you will receive an email notification and the funds will reflect in your wallet once it has finalised.
How To Buy Bitcoin With A Local Payment Processor – LocalBitcoins
The universal home of buying Bitcoin with a local payment processor, we’ll be looking at how to buy BTC through a cash deposit. Providing a seamless and highly secure experience, LocalBitcoins have become a firm favourite since launching in 2012. The platform is a peer to peer exchange, connecting local buyers and sellers in the same area or country. Highly respected in the industry, the platform makes use of escrow services to ensure that all trades are executed with the highest level of security.
Once again, you will need to open an account on the platform. From there you can enter your requirements on the front page (preferred payment method and how much Bitcoin you would like to buy) or you can simply scroll through the available options below. When you find an order you are happy with, click Buy and see the seller’s credentials and terms of trade. If you are happy to proceed, enter the amount of BTC you would like to purchase (note the seller’s minimum and maximum amounts) and click “Accept terms and send trade request” when you are happy to continue. You will then need to make the payment, in this case cash deposit, after which you can click the “I Have Paid” button. Once the seller receives the funds the BTC will be released from escrow and deposited into your wallet.
How to Buy Bitcoin in Vietnam in 2021
That concludes our guide on how to buy the original cryptocurrency in Vietnam. Ensure that you do some research before engaging in any crypto activity as the onus lies on you to abide by local laws. While Bitcoin was designed to be for everyone, anywhere, best not upset local authorities. Stay tuned to our blog for insightful crypto content and generally an awesome time.
