Laos central bank had warned the public against the use, purchase, or sale of digital currencies as they are considered illegal in the country. The bank is purportedly concerned about the anonymity of the sender and receiver in a cryptocurrency transaction, which it worries increases the risk of digital assets’ use in money laundering. So how to buy and sell Bitcoin in Laos? This article may help you to get over those difficulties when traveling to this country.
Bitcoin legal in Laos
The Central Bank of Laos has officially cracked down on cryptocurrency in the republic. The Bank of Lao PDR has warned everyone from commercial banks and businesses to your average Laotian against buy, selling, or using cryptocurrency for money transactions.
In October 2018, the central bank further called on banks and other financial institutions in the country to strictly observe an announcement they issued, decreeing a wholesale ban on the use of cryptocurrencies. No financial institutions are allowed to possess, engage in, or encourage cryptocurrency transactions.
Some central banks think that the money laundering risk can be mitigated by instating eKYC regulations. Still, Laos deems it wiser to remove that element altogether from the local ecosystem simply. The authority further stated that any claims of cryptocurrency purchasing and sale via commercial banks to generate income is false.
Buy Bitcoin in Laos on Binance
Binance is one of the best exchanges for experienced traders who are looking for a premier cryptocurrency marketplace to perform real-time trades. They accept deposits in over 50+ currencies, including USD, EUR, JPY, KRW, GBP, AUD, RUB, and many more.
Advantages:
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- Trustworthy management
- High volume exchange
- Low fees
- A large number of cryptocurrency pairs
- Global support
Defect:
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- Few payment options
Read more: What Is Binance? How To Register On Binance?
Link: binance.com
Buy and sell Bitcoin at Remitano
Remitano is an online peer-to-peer escrowed marketplace that facilitates the buying and selling of cryptocurrencies. The cryptocurrency trading platform is designed to support the buying and selling of cryptocurrencies with both fiat and cryptocurrencies. That is, Remitano is only an intermediary third party to ensure the safest transactions, and transactions will be made directly between buyers and sellers together. According to the introduction, Remitano is a product of Babylon Solutions Limited based in the Republic of Seychelles (registration number Seychelles Reg. No. 168830).
According to the introduction on the official website, the Remitano exchange is currently providing services in some major countries such as the U.S., Malaysia, Vietnam, Nigeria, Cambodia, China, and some other developed countries. As an online crypto-exchange platform, Remitano has a global reach, servicing clients across more than 30 countries. Remitano is also one of the largest cryptocurrency exchanges in Malaysia, Nigeria, and Vietnam.
The platform supports the most popular cryptocurrencies that include, but are not limited to, Bitcoin, Bitcoin Cash, Ethereum, Litecoin, Ripple’s XRP, and Tether. Remitano accepts payments by bank transfer and in cryptocurrencies.
Link: remitano.com
Buy and sell Bitcoin at Kraken
Kraken is the world’s largest Bitcoin exchange in terms of both total volume and liquidity and accepts almost every type of bank or wire transfer as a funding method. Kraken Pro provides individual investors with real-time trading and charting tools.
Advantages:
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- Respectable reputation
- Global support
- Reliable customer support
- Tiered verification
- Affordable fees
Defect:
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- Few payment methods
- Sophisticated UI
- Requires ID verification, so not private
Buy Bitcoin in Laos by using Poloniex
Poloniex is ideal for those seeking a cryptocurrency trading platform with a large array of technical analysis tools.
Advantages:
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- Hundreds of trading pairs
- Multifunctional user interface
- The wealth of trading and analysis tools
Defect:
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- Can be complicated for beginners
Buy and sell Bitcoin at Huobi Global
Founded in 2013, Huobi is a global blockchain asset financial services provider with offices in Hong Kong, Korea, Japan, and the United States. Huobi has two different versions – Huobi OTC (that allows trading of cryptocurrencies with fiat currencies at zero fees) and Huobi Pro (that is for advanced trading capabilities). Huobi is coming up with a cryptocurrency exchange-traded fund (ETF) to be named HB10.
Advantages:
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- Many cryptocurrencies and payment methods supported
- High liquidity
- Trustworthy management
- Good customer support
Defect:
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- Long verification process
Read more: What Is Huobi Global? How To Register On Huobi Global?
Link: huobi.com
Buy and sell Bitcoin at Paybis
Paybis is a digital and cryptocurrency exchange that specializes in fast and reliable transactions while providing a large number of payment options. Paybis accepts deposits in USD, EUR, CAD, GBP, and JPY.
Advantages:
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- Large purchasing limits
- Wide range of payment options
- Intuitive and user-friendly interface
- Global support
- 24/7 Multilingual customer service
Defect:
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- Bank transfers can take one to five days to complete
- Above-average fees
Buy and sell Bitcoin at OKCoin
OKCoin is a Chinese-based exchange that was founded in 2013 and is currently one of the more dominant platforms for Bitcoin trading. OKCoin primarily services users from China and the Asian markets but accepts traders from all over the world.
Advantages:
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- Very high liquidity
- You can trade on Margin and in Futures markets
- Low and competitive fees
- Advanced trading platform
- Fiat deposits and withdrawals
Defect:
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- Verification required for withdrawals
- A small variety of tradeable cryptocurrency assets
Buy and sell Bitcoin at Coinmama
Coinmama was founded in 2013 in Israel. Since then, the platform has grown to serve more than two million customers in more than 180 countries, with more than 30 employees, including India.
This cryptocurrency exchange offers a lot of conveniences. You can buy Bitcoin with a debit or credit card. The second advantage is that the Bitcoin buying process is fast and straightforward because you don’t need to find buyers yourself. The third is an exchange operating in most countries. And is a reliable broker point.
However, the downside of the exchange is high fees at 5.5% for each transaction and 5% for each credit or debit card transaction. Coinmama accepts credit or debit cards issued by Visa or Mastercard. The company also recently started accepting SEPA payments, with a 0% processing fee. Prices are quoted in EUR or USD.
Buy Bitcoin in Laos on Paxful
Paxful is an online marketplace which allows buyers and seller to meet online and trade Bitcoins. Similar to LocalBitcoins or Remitano, Paxful allows a wide range of payment methods and buying options which can not be found on traditional exchanges.
Paxful aims to be the “Uber” of the Bitcoin community. Paxful enables individuals to become merchants and sell Bitcoin online, similar to how eBay allows people to sell merchandise.
Buy Bitcoin in Laos on LocalBitcoins
The most popular P2P platform is LocalBitcoins. It serves as a local billboard for everyone who wants to buy and sell Bitcoin. LocalBitcoins is an escrow service that also helps to match bitcoin buyers and sellers. Users may advertise trades for whichever payment method they prefer.
Conclusion
In the view of AZCoin News, Remitano and Coinmama are the two easiest and most preferred ways to buy Bitcoin in Laos. First, the verification process on Remitano is so accurate that it makes it one of the safest exchanges to buy cryptocurrencies in the world. Debit and credit card purchases are subject to a 5.00% fee, while SWIFT bank transfer is free.
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