How to Buy Cryptocurrency in Cayman Islands

Buying cryptocurrency in Cayman Islands

Buying cryptocurrency in Cayman IslandsThe 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

CoinCorner

Based in Isle of Man. Over 200,000 customers with min deposit as little as £5. Simple site for getting into Bitcoin.

Pros
  • Simple user interface
  • Autobuy feature for regular crypto saving / DCA
  • You can earn Bitcoin on your shopping with their browser extension
Cons
  • Limited range of coins
  • No e-wallet feature
  • No live chat support

Bitfinex

Operating since 2012, Bitfinex has a huge range of coins and trading pairs, a good user interface and low trading fees.

Pros
  • Very low trading fees
  • Large range of coins and trading pairs
  • High liquidity
Cons
  • Slow account verification
  • Two major hacks
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Kucoin

Founded in 2017, KuCoin has already managed to establish itself as “The People’s Exchange.” With 200+ cryptocurrencies and more than 400 markets, it has become one of the hubs for cryptocurrency trading.

Pros
  • Vast selection of altcoins
  • Ability to stake & earn crypto yields
  • Robust security features
  • No forced KYC checks
Cons
  • No fiat currency deposits
  • Trading volume is low

Changelly

Changelly allows you to trade cryptocurrency without registration or verifying the identity through KYC. Being a non-custodial exchange, Changelly doesn’t require you to keep any deposits. The platform also works as a fiat-to-crypto gateway.

Pros
  • Non-custodial exchange
  • Great way to switch altcoins
  • Doesn’t require extensive KYC
  • 2FA security and high exchange limit
Cons
  • A high transaction fee of 0.5%
  • Unclear owners
  • Sometimes their service is quite slow
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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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