Summary: Bangladesh's digital currency platforms are renowned for their dedication to ensuring a seamless and accessible investment journey. They feature easy sign-up processes and a diverse selection of investment opportunities. These platforms are in strict compliance with Bangladesh's financial standards, ensuring a secure trading atmosphere.
Our detailed review identifies the leading 5 digital currency platforms in Bangladesh. Each is notable for its adherence to Bangladeshi regulatory norms, an extensive range of assets available for purchase, competitive trading costs, and their distinctive features and offerings.
- Trade over 1000 Cryptocurrencies with up to 25x leverage.
- Free and fast Bangladeshi Taka (BDT) deposits via several methods.
- Regularly audited proof-of-reserves that shows assets are held 1:1.
Best Crypto Exchanges in Bangladesh
Our expert team has crafted a robust evaluation process to identify the premier cryptocurrency trading platforms tailored for Bangladeshi investors. Our analysis takes into account multiple features, including adherence to the Bangladesh Bank's guidelines, robust security protocols, transparent asset holdings, fee schedules, and available digital currencies. After an exhaustive review, we are pleased to present the top 5 exchanges in Bangladesh.
1. Bybit
Bybit takes the top spot as the best overall cryptocurrency exchange in Bangladesh for several compelling reasons. It offers an intuitive and user-friendly interface that caters to a wide range of investors from 160+ countries and can be used in multiple languages, including Bengali. The platform provides a range of trading options, which includes futures and perpetual contracts for over 1000 cryptocurrencies. It offers a diverse selection of products and services, such as crypto staking, lending and borrowing services, copy trading, a crypto card, an NFT marketplace, and more. The platform also provides transparency in its holdings by providing regularly updated proof-of-reserves.
- Minimum Deposit: 180 BDT for first-time deposit.
- Supported Assets: 1000+ Cryptocurrency.
- Regulation: Registered in Bangladesh.
- Fees: Costs include a 0.1% fee for spot trading, 0.01% fee for maker orders, and 0.06% for taker orders on futures markets. Deposits and withdrawals in BDT are completely free of charge.
2. Kraken
Kraken ranks second in Bangladesh, primarily due to its strong focus on security and regulatory compliance. The exchange employs state-of-the-art security measures, such as two-factor authentication (2FA), cold storage for the majority of its funds, and a transparent audit process, highlighting that users' assets are always being held on a 1:1 basis. It is also one of the few exchanges that has received a banking charter in the US, which speaks volumes about its commitment to regulatory compliance. The platform offers a wide range of cryptocurrencies for trading and provides advanced trading features like margin trading and futures contracts.
- Minimum Deposit: 300 BDT for first-time deposit.
- Supported Assets: 200+ Cryptocurrency.
- Regulation: Registered to operate in Bangladesh.
- Fees: Costs include a 0.26% fee for spot trading, and the maker/taker rebate is 0.02%/0.05%.
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3. KuCoin
KuCoin claims the third spot in Bangladesh, mainly for its lucrative staking rewards. The exchange offers a feature called "Pool-X," where users can stake various cryptocurrencies and earn passive income. It supports a wide range of over 300 coins for staking, including but not limited to Ethereum, Polkadot, and Cardano, which can be staked on both fixed and flexible terms. The platform also offers a user-friendly interface and a variety of trading options, from spot trading to futures and options. KuCoin's trading fees are competitive, and its customer service is available around the clock, adding to its overall appeal. As an Asian exchange, it can be used in English and Bengali.
- Minimum Deposit: 300 BDT for first-time deposit.
- Supported Assets: 700+ Cryptocurrency.
- Regulation: Not regulated in Bangladesh.
- Fees: Costs include a 0.1% fee for spot trading. Deposits and withdrawals vary depending on the payment method.
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4. Binance
Binance is the largest digital asset exchange in the world and one of the best options for Bangladeshi investors who are new to crypto. The platform offers an incredibly user-friendly experience with its straightforward interface and many educational resources. New traders can benefit from Binance's "Academy", which provides comprehensive guides and tutorials on various aspects of cryptocurrency trading. The exchange supports various of 350+ cryptocurrencies and trading pairs, from Bitcoin and Ethereum to lesser-known altcoins. Binance also offers features like futures trading and staking but simplifies these options to make them more accessible to newcomers.
- Minimum Deposit: 200 BDT for first-time deposit.
- Supported Assets: 350+ Cryptocurrency.
- Regulation: Registered in Bangladesh.
- Fees: Costs include a 0.1% fee for spot markets, 0.02% for maker orders, and 0.06% fee for taker orders on futures markets. Deposit and withdrawal fees vary depending on the method.
5. Gate.io
Gate.io rounds out the top five cryptocurrency exchanges in Bangladesh, primarily due to its extensive selection of cryptocurrencies. The platform supports over 1700 trading pairs, allowing users to diversify their portfolios like nowhere else. Gate.io also offers unique features like perpetual contracts and crypto loans, which can be attractive to more experienced traders. The exchange has a strong security framework, including an insurance fund to cover potential losses from system flaws or breaches. Its user interface may not be as intuitive as some of the other platforms, but its wide range of offerings makes it a top choice for those looking to explore beyond mainstream cryptocurrencies.
- Minimum Deposit: 500 BDT for first-time deposit.
- Supported Assets: 1700+ Cryptocurrency.
- Regulation: Not regulated in Bangladesh.
- Fees: Costs include a 0.1% fee for spot trading, and deposits and withdrawals in BDT are completely free of charge.
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Is Cryptocurrency Regulated in Bangladesh?
The digital currency landscape in Bangladesh is evolving, with regulatory frameworks beginning to take shape to address the burgeoning market. While the Bangladesh Bank has historically maintained a cautious stance towards cryptocurrencies, citing concerns over financial security and legality, there's an increasing recognition of the need for oversight. This is underscored by the potential for digital currencies to impact the nation's economic fabric.
Efforts are underway to establish a regulatory environment that balances innovation with investor protection. This includes potential guidelines for Anti-Money Laundering (AML) and Combating the Financing of Terrorism (CFT) measures, mirroring global standards. As Bangladesh moves towards greater financial inclusivity and digitalization, the development of clear, supportive regulations will be crucial in fostering a secure, transparent, and dynamic cryptocurrency market.
How to Buy Bitcoin in Bangladesh
For individuals in Bangladesh who are keen on venturing into the digital currency world, Bybit presents a dependable platform. This service facilitates the deposit of Bangladeshi Taka (BDT) through various means, including bank transfers and digital payment systems, enabling seamless incorporation into Bangladesh's financial framework. It offers access to an expansive selection of over 1000 cryptocurrencies for trading, all with competitive fees.
Follow this easy guide to start trading Bitcoin in Bangladesh using Bybit:
- Create an Account: Sign up on Bybit at no cost with your email and create a secure password.
- Select Deposit Currency: Go to the ‘Buy Crypto’ section, choose the ‘One-Click Buy’ option, and set BDT as your currency for deposit.
- Choose Payment Method: Select a preferred deposit method from the list provided and pick Bitcoin as the cryptocurrency you wish to acquire.
- Complete the Trade: Enter the amount you're investing and click ‘Buy’ to finalize your Bitcoin transaction.
Bangladeshi Tax Considerations
In Bangladesh, the National Board of Revenue (NBR) is the authority that oversees tax guidelines for digital currencies, should regulations be clarified and enforced. Bangladeshi citizens involved with cryptocurrencies would need to account for their holdings for tax purposes, potentially affecting their tax liabilities in line with capital gains considerations. Like in many countries, profits derived from digital assets might be subject to capital gains tax.
For Bangladeshi entrepreneurs and freelancers, digital currencies could be classified as part of their business assets under future regulatory frameworks. Hence, both income and capital gains taxes could apply. Earnings from digital currency activities like mining, staking, or token lending might be categorized as business revenue, necessitating taxation according to applicable tax rates. Standard Value Added Tax (VAT) policies could become relevant for crypto transactions.
Final Thoughts
To recap, Bangladesh is making strides in the crypto sector, guided by regulations from the Bangladesh Bank. This commitment to regulation and investor protection has led to the rise of five standout exchanges in Bangladesh, which are Bybit, Kraken, KuCoin, Binance, and Gate.io. Bybit excels in overall performance and liquidity, while Kraken is the go-to for security-conscious traders. KuCoin offers attractive staking rewards, Binance is ideal for beginners, and Gate.io provides an extensive range of cryptocurrencies.
I am a Finance graduate and market analyst that enjoys researching and writing about digital assets and how they intersect with Macro.
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