Contents:
It's capital city, Ho Chi Minh otherwise known as 'Saigon' , is also home to a growing world tech hub and an innovative financial payments scene.
While the country is still considered socialist in name, it is very much so a mixed economy, reminiscent of the late 80's and early 90's China. As for Bitcoin, Vietnam has no trading, holding, or spending regulations of any kind, making its a very free place to develop and build services around Bitcoin specifically, as the country has outlawed raising any money via ICOs. One of the easiest ways to buy Bitcoin in Vietnam is through cryptocurrency exchanges.
There are several exchanges offering Bitcoin in Vietnam, and you can easily select one based on your requirements and preferences using our guide. Different exchanges have different transaction fees, withdrawal limits, payment modes, and verification processes that need to be kept in mind before users select one. Additionally, Bitcoin buyers need to keep in mind the fact that certain exchanges might require them to get a wallet of their own before they are able to buy the digital currency.
Also, it is recommended to have a wallet of your own for security reasons, preferably a hardware wallet. These ATMs allow users to instantly purchase and sell cryptocurrency using cash, however most of them require at least a phone number, so they aren't totally private. The Ledger Nano X is the newest crypto hardware wallet, and is very easy to use.
Electrum is a Bitcoin-only wallet that has been around since It's easy to use, but has advanced features. The investment came in the form of a couple of different cryptocurrenicies named iFan and Pincoin. To make the coins sound more prestigious, the investors were told these projects came from Singapore and India.
As with any guaranteed return, it was all made up of course. Within only 4 months of introducing iFan, trading collapsed meaning that any value the coins were worth didn't matter because there was no way to sell them. In August of , another Ponzi was exposed when the founders seemed to have run off with the money. The company claimed to be a cloud mining company registered with the Vietnamese government. Investors could give Sky Mining money to buy hashing power and earn returns in the form of mined Bitcoins.
Le Minh Tam posted a messaged on the company's website apologizing to investors for their loss due to an unpreditable Bitcoin price that had undermined returns.
He instructed investors to come to their office to get a refund along with their mining machines. When groups showed up, the office was empty. However, not long after, a video was posted to Facebook from director Hieu claiming he had also gone to the US for health reasons and that many agencies had already gotten their refunds and mining equipment back, and he would make sure everyone else did as soon as he returned to Vietnam.
Obviously, no one got their refund or mining equipment since it is almost certain that Hieu and Tam were in on the scam together and had skipped the country with the money. The hack was announced via the exchange's telegram channel. The exchange was primarily a platform for projects to crowdfund via ICOs. After the hack, VinDAX contacted many of the projects and asked them if they could front the exchange the necessary coins to cover the thefts in the form of a loan.
It is unclear if these requests were accepted or denied or if any customers got their coins back. Any exchange with a VND trading pair will allow you to sell your Bitcoin for fiat currency. LocalBitcoins is another option. Here, you can buy and sell Bitcoin for a wide range of payment methods, from gift cards to bank transfers.
LocalBitcoins is a peer-to-peer P2P exchange, where you buy and sell with another individual. This does introduce a degree of risk, though by ensuring that you conduct all business on the platform, make use of its escrow services, and only trade with users who have a good reputation, you'll minimize any potential problems. Jordan Tuwiner is the founder of BuyBitcoinWorldwide. His articles are read by millions of people each year looking for the best way to buy Bitcoin and crypto in their country.
He has also written extensively about the history, technology, and business of the crypto world. Jordan is also the creator of some of the internet's most famous Bitcoin pages, including The Quotable Satoshi and Bitcoin Obituaries. Disclaimer: Buy Bitcoin Worldwide is not offering, promoting, or encouraging the purchase, sale, or trade of any security or commodity.
CoinSwitch Cryptocurrency Exchange. Maintenance fee Gox finally shuttered its doors. Only enter the numbers, any other characters or seperation marks will be trashed, in the box to the left of US Dollar USD , then click the "Convert" button; Currency converter to convert from 1 Kip LAK to US Dollar USD including the latest exchange rates, a chart showing the exchange rate history for the last days and information about the currencies. Bithumb Cryptocurrency Exchange. AWG — Aruban florins Aruba. PLN — Zloty Poland.
Buy Bitcoin Worldwide is for educational purposes only. The recipient will be notified by email about the incoming remittance and receive the money soon. Transacting with cryptocurrencies like Bitcoin Cash is not only fast, but virtually free.
Whether you're sending money to friends or cashing out crypto as a digital nomad, Cash2VN is probably the cheapest solution. We have been playing a central role in the Vietnamese Bitcoin economy for years. You can count on our experience and reputation. Transfer money to Vietnam from anywhere in the world.
We run on peer-to-peer money which allows us to accept your payment from wherever you are at any time. Transfer money to Vietnam within minutes Leveraging the power of digital currencies, you can have any amount of Vietnamese Dong delivered to yourself, your friends, loved ones, family or business partners. Enter transfer details Enter the amount, a couple of details about the recipient and pick a way of delivering the money like bank transfer or cash pick-up. Pay invoice with crypto We will attach an invoice to your money transfer specifying the amount in the cryptocurrency of your choice and an unique payment address.
Done We will work on your transfer as soon as we receive your payment. What others say about us. I was able to do this without stress using Cash2VN.
All I had to do was to send the right amount of BCH to a QR code, and enter the bank account details of the recipient. Cash2VN allows my film crew to be paid in cryptocurrencies. There's no long waiting times and it's trouble free. Cash2VN is easy and simple just as we need it to be.