Buy Crypto Myanmar | Bitcointalksearch.org

Bureau

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Quote from: logfiles on May 19, 2024, 05:50:26 PM

My understanding is that Myanmar may happen to be one of those countries that is on the sanction list due to some past political instability, therefore most of the trading platforms either don't support or have very strict measures of accounts owned by Myanmar citizens

MMK is a sanctioned currency and that is why crypto exchanges are not accepting it. I do not what options are available for OP to make a purchase using his credit card. I did came across this link while trying to find a solution for OP: Buy and Sell Cryptocurrency in Myanmar Instantly but, I am not sure whether credit card can be used to make a purchase.

logfiles

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My understanding is that Myanmar may happen to be one of those countries that is on the sanction list due to some past political instability, therefore most of the trading platforms either don't support or have very strict measures of accounts owned by Myanmar citizens

Quote from: Uruhara on May 19, 2024, 12:50:50 PM

But I'm curious why you don't just use p2p. Because p2p is available on almost all the exchanges I use. I know you didn't look for it because maybe you know that using p2p is still possible on Binance and others. But you want to buy directly. And hopefully someone will provide that service and let OP know about it.

Though it's not the real p2p, i see some offers on exchanges like Binance and OK but there is no credit card as one of the payment methods offered.

Uruhara

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Unfortunately it seems difficult to find the method you want. For several reasons this is not available on all the exchanges that I frequently use. I don't know about other exchanges that I might not be familiar with. but on Coinbase, binance, OKEx, kucoin and several other top exchanges that I often use. And I tried checking them one by one. And well currently all of them don't provide it. But I'm curious why you don't just use p2p. Because p2p is available on almost all the exchanges I use. I know you didn't look for it because maybe you know that using p2p is still possible on Binance and others. But you want to buy directly. And hopefully someone will provide that service and let OP know about it.

Kelward

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Quote from: yhiaali3 on May 16, 2024, 10:40:44 PM

If you prefer to use central exchanges directly and do not find an exchange that accepts payment directly in MMK, it is better to convert your local currency into dollars through an intermediary or any service present in your country and then buy Bitcoin from Binance or others.

Or the second way is to think about a P2P service where you can find a local buyer who accepts payment in your currency because the probability of finding an exchange that accepts payment in your local currency is very small.

Clearly reputable exchanges like Binance and Coinbase, are not exchanging mmk directly, so I also think that it limits the OP choices to buy Bitcoin directly from centralized exchanges because of KYC requirements. His best option that I can think of is what he doesn't want, being p2p transactions to exchange his fiat to Bitcoin. On the other hand, as you suggested, he can find an intermediary in his country, convert his mmk to dollar, and use it to buy Bitcoin directly in an exchange.

batang_bitcoin

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AFAIK, Myanmar is currently experiencing some hardship because of the taking over of the military to its government. Sadly OP, when it comes to this, no one will want to get involved with any financial transactions in and out of your country. I have no idea if your government is also sanctioned and being avoided by many global financial services.

peter0425

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Quote from: foodatf321 on May 16, 2024, 04:26:10 PM

Hello!

I have a credit card from Myanmar, which is billed in the currency Kyat (abbreviated as MMK). I want to buy crypto online directly from a provider like Binance or Coinbase. To avoid foreign currency fees,
i am looking for a provider where I can pay directly in MMK. Unfortunately, Binance and similar platforms do not offer MMK as a payment option. I am not looking for P2P providers; I want to buy directly from the provider.
Does anyone know a provider where I can pay with a credit card billed in MMK?

Thanks in advance

Since you are looking for services that are offered in your currency (MMK), I suggest for you to consider posting this in your service section (if you have any). I think it would reach a much appropriate and capable audience that could actually help you out with your problem.

Apocollapse

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Be careful @OP, cryptocurrencies including Bitcoin aren't legal in Myanmar, so you must stay away against centralized exchanges since they will ask your KYC and it would harm your privacy.

Quote from: https://www.mdn.gov.mm/en/crypto-myanmar

How do you buy crypto?

First and foremost, you have to note that trading (buying and selling) of cryptos is illegal in Myanmar (CBM notification). If one insists on buying and holding, he or she would definitely be doing something against the law of this land.

There are few ways for you:
1. Buy through DEX or no KYC P2P, read kycnot.me
2. Direct P2P with people in your country.

Of course you need to learn how to protect your privacy (use Linux, Tor, and never share anything about cryptocurrency to public).

yhiaali3

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If you prefer to use central exchanges directly and do not find an exchange that accepts payment directly in MMK, it is better to convert your local currency into dollars through an intermediary or any service present in your country and then buy Bitcoin from Binance or others.

Or the second way is to think about a P2P service where you can find a local buyer who accepts payment in your currency because the probability of finding an exchange that accepts payment in your local currency is very small.

The Sceptical Chymist

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Quote from: Potato Chips on May 16, 2024, 06:59:14 PM

If it's any consolation, fees on buying through credit card ain't friendly anyhow.

Yikes--I know OP wants to buy from an exchange (which y'all keep calling 'providers') using a fiat currency I've never heard of, and that's a problem in itself. But OP, I hope you know the APY% you're paying on that card and have plenty of spare money in case bitcoin happens to go south just when you're running low on funds to pay the rent or buy cat litter. There are some cards I've seen in the US where annual interest rates are close to 30%! And that isn't even a rare thing. I know we're all hoping bitcoin shoots up to $100k or higher, but just step back and take a good look at what your plan is if you haven't already.

If you have, from what I'm reading the prospects of you converting MMK to bitcoin or any crypto on a legitimate exchange are pretty slim. If you want my blunt but honest opinion, you should buy bitcoin with the cash you have to spend on extras, not with debt that probably carries an interest rate that borders on usury.

AVE5

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If Binance as a large exchange doesn't have that feature and so as Coinbase, then I'd fear but not doubt that you'd get one
I don't know but I'm on that take that you shouldn't ignore the fees and just go for the p2p and then get rocking step up with your bitcoin to the market.
I also wish you'd getting it if possible.

Ben Barubal

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Quote from: foodatf321 on May 16, 2024, 04:26:10 PM

Hello!

I have a credit card from Myanmar, which is billed in the currency Kyat (abbreviated as MMK). I want to buy crypto online directly from a provider like Binance or Coinbase. To avoid foreign currency fees,
i am looking for a provider where I can pay directly in MMK. Unfortunately, Binance and similar platforms do not offer MMK as a payment option. I am not looking for P2P providers; I want to buy directly from the provider.
Does anyone know a provider where I can pay with a credit card billed in MMK?

Thanks in advance

I have no idea about your country; did you do some research before you posted here? Is there a local exchange in your country related to cryptocurrency or bitcoin? because if you don't have any local exchanges, I think you will have difficulty or be forced to use Binance or Coinbase, from what I see.

So most of the time, p2p is really available. Now, if you insist on what you want, you won't see anything, and don't get your hopes up because your only choice is p2p, as far as I know in the scenario you are in now.

Potato Chips

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yesssir! 🫡

Be ready for a plan B... it doesn't seem like there is a local exchange in Myanmar. Quick look at popular providers returns nothing...

If it's any consolation, fees on buying through credit card ain't friendly anyhow.

logfiles

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Quote from: foodatf321 on May 16, 2024, 04:26:10 PM

i am looking for a provider where I can pay directly in MMK. Unfortunately, Binance and similar platforms do not offer MMK as a payment option. I am not looking for P2P providers; I want to buy directly from the provider.
Does anyone know a provider where I can pay with a credit card billed in MMK?

You are probably not going to get any. There is a big reason most of those services are avoiding credit cards. Think about it. My question, why do you prefer buying directly from the provider vs p2p?

foodatf321

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Hello!

I have a credit card from Myanmar, which is billed in the currency Kyat (abbreviated as MMK). I want to buy crypto online directly from a provider like Binance or Coinbase. To avoid foreign currency fees,
i am looking for a provider where I can pay directly in MMK. Unfortunately, Binance and similar platforms do not offer MMK as a payment option. I am not looking for P2P providers; I want to buy directly from the provider.
Does anyone know a provider where I can pay with a credit card billed in MMK?

Thanks in advance

Topic: Buy Crypto Myanmar (Read 129 times)