How to Buy Cryptocurrency in Cayman Islands
Buying cryptocurrency in Cayman Islands
The regulatory environment for cryptocurrencies as well as blockchain technologies in the Cayman Islands seems pretty flexible, with no specific regulations on crypto. All this, paired with the facts that the Cayman Islands have the largest ICO ever recorded and that they harbor an expanding system of blockchain companies, contributed to them becoming a popular jurisdiction for blockchain related businesses and cryptocurrency funds. It is easy to assume that a more detailed form of legislation will be created some time in the future, but for now, regulators and lawmakers are hesitant to rush creating and implementing legislations before the country experiences the full benefits of blockchain technology, crypto and ICOs. After all, Bitcoin and other cryptocurrencies brought about a vast amount of wealth that's being generated, with modest individuals taken to the realms of the rich. Such turn of events will surely have an impact on the established private wealth industry
As of 20/03/2021
Exchanges Info
These exchanges all accept customers from Cayman Islands. 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
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.
- Advanced and secure technology
- Anonymous accounts
- Attractive trading bonuses
- Very low fees
- Limited asset coverage
- No option instruments
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
- It can be used to trade against fiat options
- Robust security measures
- Free SEPA deposits in Europe
- Not a very beginner-friendly interface.
- No card deposit options