How to Buy Cryptocurrency in Bangladesh

Buying cryptocurrency in Bangladesh

Buying cryptocurrency in BangladeshAccording to the Bangladesh Central Bank, any use of cryptocurrencies in this country is considered a punishable offense. The country has fully banned the use of Bitcoin and other cryptocurrencies and they go to such extent to even hunt down Bitcoin traders and miners. Despite cryptocurrencies being a growing global trend, the country of Bangladesh seems to fight hard to avoid any involvement in this topic. In 2014, the government issued a warning to the citizens stating that anyone who's trading bitcoin can be sent to prison for up to 12 years. There are a lot of loopholes in the country's laws and regulations regarding financial assets and currencies. Some of these can even serve as an argument for the pro-Bitcoin side of the population. However, the use of cryptocurrencies still remains prohibited in this country and there are no signs of how long this could last. It would take a serious movement to push the government to consider adopting Bitcoin and other cryptocurrencies into their financial ecosystems
As of 20/03/2021

Exchanges Info

These exchanges all accept customers from Bangladesh. While they broadly offer the same services and you can buy cryptocurrency at all of them, there can be differences in transaction fees, security, verification requirements, deposit methods and features, as shown below

Open a eToro Account

eToro AUS Capital Ltd ACN 612 791 803 AFSL 491139. OTC Derivatives are speculative and leveraged. Not suitable for all investors. Capital at risk. See PDS and TMD

eToro

eToro is a social trading platform that allows you to buy into cryptocurrencies, international stocks and shares and more complex financial assets. It also has an innovative Copy Trader feature where you can choose to follow other successful traders and automatically copy their trades to hopefully share in their success

Pros
  • Fully regulated financial institution
  • Trade crypto, stocks and other financial assets
  • Follow and copy the trades of expert traders
Cons
  • Fees (spreads) are high
  • Only USD as base currency
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Bybit

Based in Singapore and registered in the British Virgin Islands, Bybit is a P2P cryptocurrency exchange offering perpetual futures products with 100:1 leverage. Bybit can process 100k transaction per second which is a great feature for leveraged trading.

Pros
  • Advanced and secure technology
  • Anonymous accounts
  • Attractive trading bonuses
  • Very low fees
Cons
  • Limited asset coverage
  • No option instruments
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Kraken

Kraken has a good reputation for security and protection of your funds and operates across the USA (except NY), Canada, the EU and Japan

Pros
  • It can be used to trade against fiat options
  • Robust security measures
  • Free SEPA deposits in Europe
Cons
  • Not a very beginner-friendly interface.
  • No card deposit options
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