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  1. #1
    Thailand Expat
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    Cryptocurrency (Bitcoin) how easy is it?

    I'm making a good amount of crypto-coin here in NZ, meaning a good amount approx 500 USD per week. So would love to come to back to Thailand to visit my old haunts and live the easy life. Has any one here had experience of Thai crypto exchanges (if any) and how easy it is for a foreign speculator to get fiat Baht to and from such an exchange. I have a bank account with BB, I assume is still current, and would like to apply for credit card so I can spend such crypto proceeds in any country which will accept it.
    "The urge to destroy is also a creative urge." Mikhail Bakunin.


  2. #2
    Thailand Expat AntRobertson's Avatar
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    BX.IN is very simple once you've set it up.

    https://bx.in.th/

  3. #3
    Thailand Expat

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    dragginboy's the expert, he'll be a long shortly to explain things.

    But yeah, it's easy peasy.

  4. #4
    Thailand Expat Dillinger's Avatar
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    Read the RIP Bitcoin thread, you'll have no problem with your bitcoin then... Although it seems to have gone a bit quiet lately, there's some fantastic quotes, strategies and ill-advice around December/January time.

  5. #5
    Thailand Expat
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    Thanks all, can always rely on TD.

  6. #6
    Thailand Expat
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    Quote Originally Posted by AntRobertson View Post
    BX.IN is very simple once you've set it up.

    https://bx.in.th/
    FAQ is quite limited, can I deposit to the exchange from a Thai bank and can I withdraw from the exchange to the same Thai account? And how friendly are the Thai banks to crypto in general? We have had 'issues' here in NZ.

  7. #7
    Thailand Expat AntRobertson's Avatar
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    Quote Originally Posted by Munted
    can I deposit to the exchange from a Thai bank and can I withdraw from the exchange to the same Thai account?
    Yep, sure can.

    From memory they use Kasikorn so if you have an account there it would make it slightly quicker. If not no real issue though.

    Quote Originally Posted by Munted
    And how friendly are the Thai banks to crypto in general?
    I haven't had any issues at all but then again I'm not really what you'd call an active trader.

    Can't see how you'll have any problems with your bank though. As far as they're concerned all you'll be doing is inter/intra-bank transfers.

  8. #8
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    so what happens when this comes in https://www.coindesk.com/thailand-in...ency-taxation/ ? it cant possibly be viable then ?

  9. #9
    Thailand Expat AntRobertson's Avatar
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    I think there will still be margins in it.

    It's still quite volatile and even if/when it settles it probably won't be to much different from share-trading from a tax perspective.

  10. #10
    Thailand Expat

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    Quote Originally Posted by Munted View Post
    FAQ is quite limited, can I deposit to the exchange from a Thai bank and can I withdraw from the exchange to the same Thai account? And how friendly are the Thai banks to crypto in general? We have had 'issues' here in NZ.

    Can also go through Coins. th

    easy to use, good, friendly support staff, not so good exchange rates for BTC...ime

    https://coins.co.th/

  11. #11
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    you've absolutely no chance of making money with a 7% turnover tax (even losing trades will be taxed), but if you somehow do they'll take another 15% capital gains.

  12. #12
    Cenosillicaphobiac
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    Jury is still out on how crypto will be taxed or not in many countries. Because it crosses the lines between commodity/security/currency/asset many countries are unsure of how to deal with it. If it gets classed as an asset in NZ you might be better off declaring your gains there due to the 0% CGT if you hold long enough.

    It's currently a minefield. Crypto being online and international does you give you massive potential options in the future, just not now.
    Ronald McDonald never sells to children. He informs and inspires through magic and fun.

  13. #13
    Thailand Expat AntRobertson's Avatar
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    ^^BTC rose in price more than twenty-fold in 2017. Might not see such a swing again but I saw recently that even this year it has had some 30% swings.

  14. #14
    Thailand Expat
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    ^
    ^
    ^
    ^
    ^
    ^
    ^
    OK Thanks. I will not sign up until I get a Thai IP though, as don't want to push it if you know what I mean. I have a dormant Bangkok Bank account I hope is no hassle to re-activate.

  15. #15
    Thailand Expat
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    Quote Originally Posted by parryhandy View Post
    you've absolutely no chance of making money with a 7% turnover tax (even losing trades will be taxed), but if you somehow do they'll take another 15% capital gains.
    Yes I did read that somewhere so must be true. This may be an argument for getting out of the hodl . But there are ways and means around this, Don't want to elaborate as it may be against the rules.

  16. #16
    Thailand Expat
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    Quote Originally Posted by AntRobertson View Post
    ^^BTC rose in price more than twenty-fold in 2017. Might not see such a swing again but I saw recently that even this year it has had some 30% swings.
    Yes, that is how much it up in April.

  17. #17
    hangin' around cyrille's Avatar
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    Quote Originally Posted by AntRobertson View Post
    ^^BTC rose in price more than twenty-fold in 2017.
    Then a bunch of mungbeans bought at the peak.

  18. #18
    Thailand Expat
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    It depends. If you sold at early Jan 2018, you would have made 120-fold. If you sold now, perhaps 119-fold.

  19. #19
    Thailand Expat AntRobertson's Avatar
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    Quote Originally Posted by cyrille
    Then a bunch of mungbeans bought at the peak.
    Not I, I wisely and shrewdly invested in other alts...
















    ...at their peaks.

  20. #20
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    ^

    I'm up 80.44% for the last month. Still in the red overall, but we're getting there

  21. #21
    Thailand Expat
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    Quote Originally Posted by Headworx View Post
    getting there
    Same here. But opportunity to learn how to manage next time.

  22. #22
    Thailand Expat
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    Quote Originally Posted by AntRobertson View Post
    ...I haven't had any issues at all but then again I'm not really what you'd call an active trader...
    Hopefully it stays that way, but do be ve-ry careful to follow their 'rules'. Just this morning had a long running tussle resolved (my fault) and the delay cost me a bundle; to be fair it could have gone the other way but it didn't.

  23. #23
    Thailand Expat
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    On 1 - 10 scale (10 = native), can you rate their English?

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