How do bitcoin exchange in Bangladesh

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Before starting this Bitcoin exchange guideline article in Bangladesh you need to know local law. Moreover, I recommend reading this article Bitcoin Bangladesh. Because still Bitcoin trade, exchange, use buy and sell illegally in this country. Now the topic is Bitcoin exchange in Bangladesh But many people and freelancers are using Cryptocurrency for different purposes. However, in this article, I am going to explain to you how to exchange Bitcoin in Bangladesh. Moreover, anyone can exchange Bitcoin with BDT is using their bKash, Rocket, Skrill, and another alternative payment method.

What is Bitcoin?

What is Bitcoin
What is Bitcoin

Bitcoin is 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 to any part of the world within a short time. As a result, it is better than any banking system where a traditional bank takes more time and imposes transaction fees. There have some bitcoin exchanges in Bangladesh.

How To Bitcoin Exchange In Bangladesh?

As you know you can create an online Bitcoin wallet and the ability to store multi Crypto coins in your wallet. So simply buy Bitcoin from any reputable Cryptocurrency exchange and directly send it to your personal online wallet. Many people want to know 1 Bitcoin Price In Bangladesh.

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

I can recommend checking Spectrocoin exchange that is a much Bangladesh Bitcoin-friendly brokerage. Here you have different payment options to buy, sell, and store funds.

Still, if you are curious to know a step-by-step guide then 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 are the exchanging and trading pairs. So you need to have USD then you can buy and sell Bitcoin. For example, below is a list which is the top Cryptocurrency exchange platform.

Crypto Exchange
Crypto Exchange
  1. BTCTOBDT
  2. Coinbase
  3. Binance
  4. Kucoin
  5. Bittrex
  6. Bifinex
  7. 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 in which Bitcoin exchange is not allowed in Bangladesh to exchange Bitcoin.

Bangladesh friendly Crypto exchange

Many Cryptocurrency brokerages are offering exchange, buy and sell Bitcoin through their platform. Moreover, they are providing an advantage for the Bangladeshi people to exchange directly using the different payment options.

Bangladesh’s laws and regulations always do not favor random payment methods for online transactions. As a result payment method is an important issue. So multi-payment option is a great opportunity for Bangladeshi users.

However, here is a list of Bangladesh-friendly Cryptocurrency exchanges.

Exchange, Trading, And Buy Sell In Bangladesh

Many Bangladeshi websites offer dollar buy and sell. Moreover, they offer to withdraw money to Rocket, 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 exchanging them 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 of exchanging fraud. As per their description user can buy, sell and exchange multi-currency. Local bitcoin exchange in Bangladesh

Online dollar exchange policy of Bangladesh

Not only Bitcoin but also all types of online transactions are illegal outside of Bangladesh Bank. If you want to trade, business, and exchange then you first need to know Bitcoin Bangladesh Bank policy. Already Bangladesh’s bank announces any type of Cryptocurrency like Bitcoin transaction is punishable.

First warning

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

Additionally, the central bank says any type of Cryptocurrency transaction is not legal and not approved 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 on December 24, 2017, they reiterate the first warning and include the Anti – Terrorism Act, 2009 as another law.

Conclusion

A cryptocurrency exchange in Bangladesh is not legal after the evidence 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 from Bitcoin and have an honest intention to use it, then you can do it in many alternative ways.

People from Bangladesh are earning in different ways. For instant, Bitcoin mining in Bangladesh, trading, outsourcing, etc. Read more articles on a bitcoin exchange in Bangladesh.