Best Crypto Exchanges Cambodia

Best Crypto Exchanges in Cambodia

We've carefully developed a comprehensive assessment framework to identify the leading cryptocurrency trading platforms for Cambodian investors. Our evaluation considers various factors such as compliance with the National Bank of Cambodia's regulations, transparent proof of reserves, fee schedule, platform features, and the range of available cryptocurrencies. Following an in-depth analysis, we identified Cambodia's top 5 digital asset exchanges.

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1. Bybit

Bybit is highly regarded in Cambodia for its straightforward and intuitive interface that can be used in several languages, including Khmer. The platform specializes in derivatives trading with leverage options of up to 25x on over 1000 cryptocurrencies. It also offers perpetual contracts, and futures contracts without an expiry date, giving traders more flexibility in their strategies. Besides trading, it offers staking services, crypto loans, an NFT marketplace, a crypto debit card, copy trading and more. Low trading fees and a seamless withdrawal process add to its appeal, making it a well-rounded platform that meets the diverse needs of the Cambodian trading community.

• ‍Minimum Deposit: 20,000 KHR for initial deposit.
• Supported Assets: 1000+ Cryptocurrencies.
• Regulation: Registered in Cambodia.‍
• Fees: Charges include a 0.1% fee for spot trading, 0.01% for maker orders, and 0.06% for taker orders in futures markets. Deposits and withdrawals in KHR are entirely free.

Kraken

Kraken is a go-to platform for institutional investors in Cambodia, offering a wide range of over 1000 cryptocurrencies, including Bitcoin, Ethereum, and a variety of altcoins. The platform is equipped with advanced trading features like futures and margin trading, providing the tools necessary for diversified investment strategies. Its advanced security features, such as end-to-end encryption and cold storage solutions, make it a reliable choice for large-scale investors. Additionally, it offers dedicated account management services for institutional clients, ensuring they receive personalized support. The platform also offers staking, which allows users to earn a yield on their assets.

• Minimum Deposit: 100,000 KHR for initial deposit.
• Supported Assets: 200+ Cryptocurrencies.
• Regulation: Compliant with Cambodian regulatory standards.
• Fees: Charges include a 0.26% fee for spot trading, with maker/taker fees at 0.02%/0.05%. Deposit and withdrawal fees vary depending on the method used.

3. Binance

Binance is the preferred platform for beginners in Cambodia, thanks to its user-friendly interface and extensive educational resources. It supports a wide variety of 350 cryptocurrencies, from popular ones like Bitcoin and Ethereum to lesser-known altcoins. New traders can benefit from Binance Academy, which offers tutorials and FAQs to help them understand the basics of cryptocurrency trading. For those who are new to trading, it offers spot trading as a straightforward way to buy and sell cryptocurrencies. The platform also features a demo trading option, allowing newcomers to practice trading without risking real money. With its low trading fees and mobile app for trading on the go, Binance makes it easy for beginners to become more confident traders.

• Minimum Deposit: 200,000 KHR for the first deposit.
• Supported Assets: 350+ Cryptocurrencies.
• Regulation: Registered in Cambodia.
• Fees: Charges include a 0.1% fee for spot markets, 0.02% for maker orders, and 0.06% for taker orders in futures markets. Deposit and withdrawal fees differ based on the chosen method.

4. Gate.io

Gate.io is renowned in Cambodia for its extensive selection of cryptocurrencies, boasting over 1700 different digital assets. This wide range allows traders to diversify their portfolios and explore various investment opportunities. The platform supports multiple trading options, including spot trading, futures, and margin trading, catering to traders with different levels of experience and risk tolerance. Security is a top priority, employing industry-leading protocols such as SSL encryption and cold storage for digital assets. The platform also offers a mobile app, complete with real-time market updates and notifications, allowing traders to stay informed and make timely decisions. 

• Minimum Deposit: 50,000 KHR for the first deposit.
• Supported Assets: 350+ Cryptocurrencies.
• Regulation: Received digital asset operator license in Cambodia.
• Fees: Charges include a 0.1% fee for spot markets, 0.02% for maker orders, and 0.06% for taker orders in futures markets. Deposit and withdrawal fees differ based on the chosen method.

5. Bitget

Bitget has gained traction in Cambodia for its no-KYC policy, which allows traders to start trading without undergoing extensive identity verification. This feature is particularly appealing to those who prioritize privacy and quick access to trading. Bitget specializes in derivatives trading and offers a range of futures contracts for cryptocurrencies like Bitcoin and Ethereum, along with leverage options to amplify potential returns. The exchange employs multiple layers of protection, including an insurance fund, to cover potential losses from system flaws or breaches. It also offers a mobile app, providing a convenient way for traders to manage their portfolios and execute trades from anywhere. 

• ‍Minimum Deposit: 300 THB for the initial deposit.
• Supported Assets: 500+ Cryptocurrencies.
• Regulation: Not subject to Cambodian regulatory KYC requirements.
• Fees: Trading fees start at 1%, with potential negative rates for high monthly volumes. Deposit fees range from 1% - 4%, depending on payment method.

Is Crypto Regulated in Cambodia?

The regulatory environment for cryptocurrencies in Cambodia is one of measured curiosity, making it distinct from nations with more restrictive rules. The National Bank of Cambodia (NBC) and the Ministry of Economy and Finance are the key institutions responsible for overseeing digital currencies in the country. Although Cambodia has not formally accepted cryptocurrencies as a valid payment method, it has shown a willingness to explore the potential benefits of digital assets. 

The governing bodies are proactively striving to understand and possibly integrate digital currency transactions, positioning Cambodia as an innovative player within the Association of Southeast Asian Nations (ASEAN) concerning crypto oversight. Cambodia's attitude towards digital currencies has been progressively optimistic, particularly as worldwide acceptance grows.

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How to Buy Bitcoin in Cambodia

For Cambodian enthusiasts looking to enter the cryptocurrency space, Bybit stands as a highly secure and dependable platform. This exchange enables the deposit of Cambodian Riel (KHR) through various channels, including bank transfers, e-wallets, credit cards, and debit cards, ensuring smooth integration with Cambodia's financial infrastructure. Bybit offers a broad selection of over 1000 digital currencies for trading, all with attractive fee structures.

Here's a straightforward guide to begin trading Bitcoin in Cambodia:

1. Create Account: Sign up on Bybit at no cost with your email and set up a strong password.
2. Choose Deposit Currency: Navigate to ‘Buy Crypto,’ opt for ‘P2P,’ and select KHR as your fiat currency for deposit.
3. Determine Payment Method: Pick from the provided payment options and choose Bitcoin as the token you wish to acquire.
4. Execute Trade: Enter the amount you want to invest in BTC and click ‘Buy.’

Cambodian Tax Regulations

In Cambodia, the General Department of Taxation (GDT) outlines the tax guidelines for cryptocurrencies, providing clear instructions for both individual holders and enterprises. Cambodian citizens possessing digital currencies must report their holdings for tax assessment, impacting their obligations regarding capital gains tax. Unlike certain countries, Cambodia applies capital gains tax to these digital assets.

For Cambodian enterprises and self-employed persons, cryptocurrency is considered a part of their business assets. Consequently, they are subject to both income and capital gains taxes. Income derived from activities such as mining, staking, or lending digital currencies is treated as business revenue and taxed according to the relevant tax bands. Additionally, standard Value Added Tax (VAT) rules might be applicable to particular cryptocurrency transactions.

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Final Thoughts

In the rapidly evolving landscape of cryptocurrency trading, Cambodia presents a unique environment that is regulated and open to innovation. Our comprehensive analysis has identified the top five exchanges for Cambodian investors, Bybit for its all-around performance, Kraken for institutional investors, Binance for beginners, Gate.io for its extensive crypto selection, and Bitget for those who prioritize privacy and quick access.