How to Buy Cryptocurrency in Kyrgyzstan
Buying cryptocurrency in Kyrgyzstan
As the citizens of Kyrgyzstan become more and more interested in cryptocurrencies, and as technology rapidly gains global popularity, the National Bank of Kyrgyzstan believed that it is crucial to first diminish the risks associated with them. More recently in 2020, the Bank has issued draft legislation which would define the legal status of cryptocurrency and how it could be properly used in this Central Asian nation. With this legislation draft, the central bank is rallying with the Financial Action Task Force’s efforts to regulate cryptocurrencies and, hopefully, prevent high risks of money laundering and terrorism financing. Under this proposal, property rights of those who own cryptocurrency would be protected by courts. Any company or individual entrepreneur, unless registered as a cryptocurrency operator or miner, should not under any circumstance accept cryptocurrency as a method of payment for goods and services, nor in the form of investment and savings deposits.
As of 20/03/2021
These exchanges all accept customers from Kyrgyzstan. 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
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 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