How to Buy Cryptocurrency in Uzbekistan
Buying cryptocurrency in Uzbekistan
In Uzbekistan, cryptocurrency trading was legalized in 2018, along with the introduction of licensing crypto exchanges. In 2020, Uzbekistan decreed to introduce tax exemptions for income obtained from activities involving crypto assets. The draft also included proposals of establishing a blockchain valley, along with a licensing system for miners. At the same time, Uzbekistan’s first licensed crypto exchange was launched. Uzbekistan’s newly launched digital trading platform, Uznex, only allows Uzbekistan citizens to sell cryptocurrencies, while nationals residing in Uzbekistan and foreign entities have complete access to its services within the limits of Uzbekistan’s legislation, of course. In January 2020, the regulatory body tasked with overseeing the digital economy and the crypto sector, the National Agency for Project Management (NAPM), declared that its key priorities were to create a mining pool for private miners who would benefit from favorable electricity rates. Additionally, all large-scale mining activities would be subjected to licensing.
As of 20/03/2021
These exchanges all accept customers from Uzbekistan. 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