How to Buy Cryptocurrency in Turkmenistan
Buying cryptocurrency in Turkmenistan
The country of Turkmenistan, located in Central Asian, seems to have a significant lack of information regarding cryptocurrencies. When we google cryptocurrencies in Turkmenistan or use of Bitcoin in Turkmenistan, not a lot of concrete information regarding their legal status or regulation shows up in the results. Not even a statement regarding the stance of the country’s central bank could be found. The only available information relevant to this topic can be found in a response to a thread on a Russian mining forum. The opening poster wanted to know if it was possible to buy crypto in the country. The answer was that even the-over-counter or OTC markets barely exist in the region. Apparently, virtual currencies like Bitcoin can only be purchased using U.S. dollars. This proves to be quite problematic, as the government has been actively trying to restrict access to foreign currencies for citizens and local companies.
As of 20/03/2021
These exchanges all accept customers from Turkmenistan. 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