How do bitcoin exchange in Bangladesh

Before starting this Bitcoin exchange guideline article in Bangladesh you need to know local law. Moreover, I recommend to read this article Bitcoin Bangladesh. Because still Bitcoin trade, exchange, use buy and sell illegal in this country. But many people and freelancer are using Cryptocurrency in different purpose. However, in this article I am going to explain you how to exchange Bitcoin in Bangladesh. Moreover, anyone can exchange Bitcoin with BDT is using their bKash, Roket, Skrill and other alternative payment method.

What is Bitcoin?

What is Bitcoin
What is Bitcoin

Bitcoin is a decentralized peer to peer electronics cash. An unknown person Satoshi Nakamoto invented this Cryptocurrency in 2019. In a short description Bitcoin is an open source, anonymous, mutable distributed ledger system.

Using blockchain technology anyone can transfer currency any part of the world within a short time. As a result, it is better than any banking system where traditional bank takes more time and impose transaction fees.

How to exchange Cryptocurrency in Bangladesh?

As you know you can create an online Bitcoin wallet and able to store multi Crypto coin in your wallet. So simply buy Bitcoin from any reputable Cryptocurrency exchange and directly send to your personal online wallet.

You can’t pay with your Bank account to buy Bitcoin directly. But in locally supported exchange like Localbitcoin and Paxfull person to person BTC buy and sell can be an option. Though, personally I do not recommend this procedure.

I can recommend to check Spectrocoin exchange that is much Bangladesh Bit Coin friendly brokerage. Here you have different payment options to buy, sell and store fund.

Still if you are curious to know step by step guide than read this article How To Buy Bitcoin In Bangladesh?

Online Crypto Exchange And Wallet in Bangladesh

Most of the top Cryptocurrency exchange allows Bangladeshi people to create and use their wallet. Basically, you need KYC verification. After verification your Bitcoin and other Crypto exchange limit will increase. USD and Bitcoin is the exchanging and trading pairs. So you need to have USD then you can buy and sell Bitcoin. For example, below a list which is the top Cryptocurrency exchange platform.

Crypto Exchange
Crypto Exchange
  1. Coinbase
  2. Binance
  3. Kucoin
  4. Bittrex
  5. Bifinex
  6. Polonix

On the other hand, few Bitcoin exchanges are not allowed Bangladeshi people to exchange their platform. Moreover, they now allow directives to create an account and trade using their exchange platform. Check the list below which Bitcoin exchange is not allowed Bangladesh to exchange Bitcoin.

Bangladesh friendly Crypto exchange

Many Cryptocurrency brokerage are offering exchange, buy and sell Bitcoin through their platform. Moreover they are providing advantage for the Bangladehi people to exchange directly using different payment option.

Bangladesh law and regulation always not favor random payment method for online transaction. As a result payment method is an important issue. So multi payment option is a great opportunity for the Bangladeshi user.

However, here is a list of Bangladesh friendly Cryptocurrency exchange.

Exchange, Trading And Buy Sell In Bangladesh

Many Bangladeshi website offer dollar buy and sell. Moreover, they offer to withdraw money to Roket, bikes and DBBL. As I check, I think most of those are finally scam. Once upon a time they close the site and go off with customer valuable BTC or deposit money. I can give you some web links but I do not recommend to exchange there.

Local BD online dollar exchange

On this list all exchanges operate from Bangladesh. We are not affiliated here so be careful about any type exchanging fraudulent. As per their description user can buy, sell and exchange multi currency.

Online dollar exchange policy of Bangladesh

Not only Bitcoin but also all type of online transaction are illegal out side of Bangladesh Bank. If yow want to trade, business and exchange than you first need to know Bitcoin Bangladesh Bank policy. Already Bangladesh bank announce any type of Cryptocurrency like Bitcoin transaction are punishable.

First warning

In 2014 first Bangladesh bank “warning” to use Bitcoin in this country. In this warning include caution as their brief to use any type of artificial currency in cause Foreign Exchange Regulation Act, 1947. Moreover, it is cause of the Money Laundering Prevention Act, 2012.

Additionally the central bank say any type of Cryptocurrency transaction is not legal and not approve by any central payment processor. Moreover, this type of internet money transaction is not authorized.

Second warning

Recent popularity on Bitcoin and other alternative Cryptocurrency Bangladesh Bank issue a second warning to use it. In this “Cautionary Notice” on there in December 24, 2017 they reiterate about first warning and include about the Anti – Terrorism Act, 2009 as another law.

Conclusion

Cryptocurrency exchange in Bangladesh is not legal after those evident of central bank caution. But it is an open secret that many people exchanging, trading, buy and sell Bitcoin in Bangladesh. So if you want to get benefited with Bitcoin and have an honest intention to use it, then you can do it many alternative ways.

People from Bangladesh are earning in different way. For instant, Bitcoin mining in Bangladesh, trading, outsourcing etc.

Written by Md Rajib
I learn every day with cryptocurrency sphere. I love Blockchain and cryptocurrency so I am going to share my knowledge who are interested at digital currency. I am also a digital cryptocurrency enthusiast and online marketing expert. I worked a long time as an expert on SEO & WordPress platform.

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