In this article, we give you a step-by-step guide on how to Buy Bitcoin in Vietnam, as well as the best platform to do this with. We also discuss some of the factors that you need to consider before joining a new Bitcoin broker – such as regulation, fees, commissions, and payments.<\/p>\n
Don’t have time to read through our guide and simply want to buy Bitcoin<\/a> right now?<\/p>\n The Bitcoin broker listed below is not only regulated by three tier-one licensing bodies – but it accepts residents of Vietnam. This means that you will be able to buy Bitcoin with your Vietnamese-issued Visa or MasterCard, bank account, or an e-wallet like Paypal. Crucially, our top-rated broker will store your Bitcoin for you, so the investment is fully in-line with Vietnamese laws.<\/p>\n\n \n This became evident in 2017 when FPT University announced that it would accept Bitcoin as a means to settle tuition fees. The university quickly reversed its decision in light of the SBV’s comments. It will, therefore, come as no surprise to learn that Vietnam is home to no licensed Bitcoin brokers. On the contrary, a number of platforms do operate, albeit, in an unregulated manner.<\/p>\n Similarly, although there are a few Bitcoin ATMs in Vietnam, it remains to seen how exchanging cold-hard dong for BTC is within the realms of the law. On the flip side, peer-to-peer website InsideBitcoins does have a huge presence in the country. With that being said, as Bitcoin is technically exchanging hands, you would be using the platform at your own risk. Ultimately, the only way that you can get legally invest in Bitcoin is to use a regulated broker located overseas.<\/p>\n We should also note that the wider cryptocurrency arena has somewhat of a murky reputation in Vietnam. This is linked to the $660 million fraudulent ICO projects of Ifan and Pincoin – both of which were run out of a Ho Chi Minh office. In total, it is estimated that the two projects dupped more than 32,000 investors.<\/p>\n As noted above, the central bank of Vietnam has made its stance of Bitcoin’s legality crystal clear, so your investment options are going to be limited. To clarify, there are no regulated brokers or exchanges operating in the country, and access to Bitcoin ATMs is going to scarce. LocalBitcoins – a peer-to-peer platform, does have a large user base in Vietnam. This is likely because transactions remain off the books.<\/p>\n In other words, if you were to pay for your Bitcoin via a Vietnam bank transfer, the respective institution would not know that the transaction is liked to cryptocurrencies. On the flip side, it is likely that such a process is breaching Vietnamese regulations, not least because the Bitcoin is changing hands within the domestic market. In-person exchanges are also becoming more common in the country via LocalBitcoins, albeit, not only is this potentially illegal, but it’s fraught with risk.<\/p>\n So where does that you leave you in your hunt to buy Bitcoin in Vietnam? Well, the option you are left with is also the safest, cheapest, and most convenient way of investing in Bitcoin – a regulated online broker located overseas. In a nutshell, by using a platform like eToro – which is licensed by the FCA, ASIC, and CySEC – you can easily deposit funds with a debit\/credit card, e-wallet, or bank account.<\/p>\n Once you do, you can buy Bitcoin without paying any fees. Crucially, eToro does not allow you to withdraw your coins out – even though you retain 100% ownership at all times. This means that you can safely store your investment at the broker and thus – not use, store, or transact within Vietnamese borders. Then, when it comes to selling your coins back to Vietnamese dong, you can withdraw the proceeds back to the same payment method you used to deposit.<\/p>\n So now that you know the many ways that you can’t<\/em> buy Bitcoin in Vietnam, we are now going to give you a simple step-by-step guide on the best way to make an investment. The process involves opening an account with our top-rated Bitcoin broker – eToro. In doing so, you’ll benefit from commission-free trades, heaps of supported payment methods, and the protection of three tier-one regulators. Crucially, the platform accepts residents of Vietnam.<\/p>\n <\/p>\n Visit the eToro website and open a Bitcoin account. The process takes just minutes, and will require the following information from you:<\/p>\n As eToro also hosts complex financial instruments (like leverage and the ability to short-sell assets), you will need to answer some questions about your prior trading experience. Don’t worry, the platform isn’t in the business of turning down account applicants for having a lack of knowledge, it’s just to make sure you understand the risk.<\/p>\n As a Bitcoin broker that takes regulation seriously, eToro will ask you to upload a clear copy of your government-issued ID. This can be a passport or driver’s license, and the information contained on your ID must match that of what you stated in your account application.<\/p>\n <\/p>\n Once you’ve opened and verified your eToro account, you can then proceed to deposit some funds. Firstly, there are no deposit fees to contend with, which is great. You will also need to meet a $200 minimum deposit, which amounts to around 4.5 million VND.<\/p>\n Supported payment methods include:<\/p>\n Unless you are opting for an international bank transfer, all deposits at eToro are instant.<\/p>\n Now that you’ve funded your eToro account, you are ready to buy Bitcoin<\/a>! Enter ‘Bitcoin’ into the search box at the top of the page, and click on the result that pops up. Next, click on the blue ‘Trade’ button.<\/p>\n You will now see an order box pop-up. As you will see, there are a few bits of information that you need to fill in before your trade is executed.<\/p>\n As a newbie investor, we would suggest reading through the guidelines listed below to make sure you fill in the order form correctly.<\/p>\n Finally, click on ‘Buy’ to complete your Bitcoin purchase. If you’re shorting the market, click on ‘Sell’.<\/p>\n If you’re planning to conduct some research of your own before joining a Bitcoin broker, this is wise – as it will ensure that the platform is right for your needs. After all, no-two brokers are the same, so it’s crucial that you do a bit of homework.<\/p>\n As such, be sure to make the following considerations prior to opening an account with your chosen Bitcoin broker<\/a>.<\/p>\n If you decide to use a Bitcoin broker located in Vietnam, you will be using a platform that is unregulated. Why? Well, cryptocurrency exchanges are banned in the country. As such, we would strongly advise against you using an unlicensed broker, as there is every chance you will end up getting scammed.<\/p>\n Instead, consider using a regulated platform based overseas. For example, Bitcoin brokers like eToro are regulated on three fronts (FCA, ASIC, CySEC), meaning that your investment remains safe at all times.<\/p>\n Although Bitcoin is still the de-factor cryptocurrency of choice, some traders like to create a diversified portfolio of coins. If this sounds like you, you’ll want to use an online broker that hosts other digital currencies too.<\/p>\nOn this Page:<\/h2>
<\/ul> <\/div><\/div><\/div><\/span><\/p>\n
Our recommended Vietnamese Bitcoin Platform<\/h2>\n
Bitcoin in Vietnam<\/h2>\n
![\"\"](\"https:\/\/insidebitcoins.com\/wp-content\/uploads\/2020\/04\/Screenshot-2020-04-14-at-19.12.53.png\")
<\/a>Vietnam is still one of the most anti-cryptocurrency nations globally. With the State Bank of Vietnam (SBV) noting that the use of cryptocurrencies as a means of payment<\/em> within Vietnam is illegal, getting your hands on Bitcoin is extremely challenging. The SBV has also imposed harsh fines on anyone breaching this ruling, with penalties ranging from 150-200 million VND.<\/p>\nWhat is the Best Way to Buy Bitcoin in Vietnam?<\/h2>\n
How to Buy Bitcoin in Vietnam: Step-by-Step Tutorial<\/h2>\n
Step 1: Open an Account<\/a><\/h3>\n
![\"\"](\"https:\/\/insidebitcoins.com\/wp-content\/uploads\/2019\/06\/etoro-registration-1024x812.png\")
<\/p>\n\n
Step 2: KYC & Verification<\/h3>\n
![\"\"](\"https:\/\/insidebitcoins.com\/wp-content\/uploads\/2019\/02\/etoro-2-2-1024x732.png\")
<\/p>\nStep 3: Deposit Funds<\/h3>\n
![\"\"](\"https:\/\/insidebitcoins.com\/wp-content\/uploads\/2020\/04\/etoro-fund-account-1024x593.png\")
<\/p>\n\n
Step 4: Go to Bitcoin Trading Page<\/h3>\n
Step 5: Buy Bitcoin<\/h3>\n
![\"\"](\"https:\/\/insidebitcoins.com\/wp-content\/uploads\/2020\/04\/Screenshot-2020-04-02-at-17.33.27.png\")
<\/a><\/p>\n\n
What to Look for in a Vietnamese Bitcoin Broker<\/h2>\n
\n
Licensing<\/h3>\n<\/li>\n<\/ul>\n
\n
Supported Cryptocurrencies<\/h3>\n<\/li>\n<\/ul>\n
![\"\"](\"https:\/\/insidebitcoins.com\/wp-content\/uploads\/2019\/06\/localbitcoins-2-min.png\")
<\/p>\n![\"eToro](\"https:\/\/insidebitcoins.com\/wp-content\/uploads\/2021\/08\/logo-etoro.svg\"){kind=logo}
\n <\/div>\n\n