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BX Thailand Review - is it scam or safe?

BX Thailand Review - is bx.in.th scam or goodcryptocurrency exchange?

RATING: 3 / 1 REVIEWS BX Thailand

Trading Accounts & Conditions

 

Account type Leverage Trading Fee Withdrawal Fee*
Standard N/A 0.25% 0.0005 BTC/20 THB + 10 THB per 10 000 THB


*Clients who trade at least 5BTC per month are not charged for crypto withdrawals.

 

BX Thailand Is a one of the major crypto-exchanges in Thailand. It allows locals access to Bitcoin and other digital coins via Thai Baht and also to trade one digital coin against another.

 

Like most cryptocurrencies, BX Thailand offers a single account type with no margin trading option. There is Two-Factor authentication available at this exchange, as well as a wallet.

 

BX Thailand Advantages

 

Many altcoins offered

This exchange offers a plethora of digital cons for trade. Apart from Bitcoin, at BX Thailand one can trade in popular cryptocurrencies such as Ethereum, Bitcoin Cash, Dash, Litecoin, Zcash, Doge coin and many others.

 

Trading against THB, Thai bank transfers supported

 

Another obvious advantage of this exchange is the fact users can trade with their local currency, Thai Baht. Being able to deposit and withdraw THB via bank transfer is also a significant convenience to locals, although bank transfers can take up to several days and also involve some fees. This makes the company much more appealing to local crypto-traders.

 

Clear presentation of the fees

Another thing which we like about BX Thailand is the clear and precise presentation or the fee structure. Transparent pricing is an obligatory element of each reliable company’s offering.

 

Competitive fees

BX Thailand doesn’t charge deposit fees, except for very small deposit amounts. Withdrawals, on the other hand are charged with some fees, which are competitive, when compared to what other exchanges charge. For example, withdrawals in Bitcoin are charged with 0.0005 BTC.

 

As regards trading fees of BX Thailand, the exchange applies a flat fee of 0.25%, which is in line with the average in the sector.

 

Nice platform with detailed charts

This exchange offers two trading interfaces – a white one, as well as a dark “tradeview”. The white one seems simpler, but has an option for detailed advanced charts.

 

 

The dark interface, on the other hand, seems more “professional” – it has a clean order book, there is a market depth window and charts are equipped with some basic trend lines. Here is a snapshot:

 

 

A wallet service available

BX Thailand also provides an in-house wallet, which is always a useful part of an exchange’s offering.

 

BX Thailand Disadvantages

 

Mainly suitable for residents of Thailand

The main benefit of this exchange is also its main flaw, which is often the case with local players. If you are not living in Thailand, BX Thailand will hardly be of much benefit to you, as the most liquid pairs are the ones with THB. Besides, other popular fiat currencies like USD or UER are not supported.

  

No margin trading 

BX Thailand does not provide margin trading, which is typical for most crypto-exchanges. If you need some leverage, other, usually larger exchanges offer such (KrakenQUOINE, to name a few). Besides, all forex brokers who offer speculative trading in Bitcoin CFDs offer some leverage.

 

>>Brokers offering margin Bitcoin trading<<

  

Conclusion

 

BX Thailand is one of the major crypto-exchanges in Thailand. It is mainly suitable for local investors, as it accepts THB. Besides, the exchange supports wide range of altcoins and crypto-to-crypto trading is also enabled. Another strong side of BX Thailand is the clear presentation of fees, which are in line with the industry’s average. In addition, its trading platform has detailed advanced charting option, and there is also a mobile wallet service.

 

As a whole BX Thailand seems like a credible exchange. It is operated by Bitcoin Co. Ltd., a Thai registered company since 2013 that also stands behind websites Bitcoin.co.th and CoinPay.in.th. According to the information on BX Thailand‘s website, 80-90% of the funds are kept offline in cold storage and the company promises that   if any assets are stolen from the exchange, the it would cover the loses of its clients to the full extent.

 

While this may be the case, we feel must reiterate the inherit risks involved with the cryptocurrency venues. In case you are prefer to invest with a well-regulated company, you may also speculate on the price of Bitcoin and other cryptocurrencies with a forex broker. Below, you can find a list of trustworthy brokerages that offer trading in Bitcoin.

 

>>Regulated brokers offering Bitcoin trading<<

 

Here are the strong and weak sides of BX Thailand:
   

 Pros

 Cons

 Many altcoins offered, trading against THB also available

 Suitable mainly for Thais

 Thai bank transfers supported

 No margin trading

 Clear presentation of the charges, competitive fees

 Not regulated

 Nice platform with detailed charts

 USD, EUR not supported

 A wallet service available

 

 

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Traders` reviews for BX Thailand

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Bitcoin Exchange Thailand is scam !!!

Bitcoin Exchange Thailand (operated by Bitcoin Co. Ltd): Bx.in.th is scam!
Once you payed in money and did a transaction, and then if you loose your password they will not give it back to you. They block your account and your are not able to access your account anymore - even when you contacted the customer service. They are incompetent and unwilling to help. They just want to keep your money. Therefore, WARNING: DO NOT INVEST HERE !!!
You have been warned.

Str84Wrd 05/15/2018
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