Topic: what's the best way to buy BTC in thailand? (Read 2839 times)

The site is geared to local Thai bank transfers, as opposed to international SWIFT transferred (as SWIFT transfers are expensive and would make sense to use mtgox anyways with this method).   Site also have a 10BTC buy/sell limit for new users so fairly low risk for everyone to start with.

I'm in Bangkok but will currently only be doing trades through the website.  I'm hoping one day I could start up a physically location (ie currency exchange booth type of place) for bitcoins, but that's a long way down the road.

I'm in Thailand and I've been purchasing a few BTC here and there since last year using my UK Bank account and blockchain.info via the Barclays Pingit system. They do charge a percentage fee for this and there's a limit of something like 250 per week which is a pain.

I'm interested in this service but as I've never heard of it before and you appear to be new around here I'd like to establish a level of trust. Has anyone else used this service successfully ?

Where abouts in Thailand are you ? Could I pay in cash for a face to face purchase ? I'm in Hua Hin at the moment but  I do go to Bangkok occasionally.

I'm not buying right now as the price is pretty high, it's way higher than the purchase price of my other BTC so I'd like to see some stability before buying more.

https://localbitcoins.com/country/th

The registration is part of the order form, so when you enter an amount of BTC to buy/sell you will be prompted with login or registration options.

I see a way to login but not a way to register a new account.  Is this exchange only available by invite?

I'm starting a bitcoin exchange in Thailand at http://bitcoin.in.th  (or http://btc.in.th for short).

The site is all still very new so please excuse us if there are any kinks that still need to be worked out in the order processing.  Currently we are flush with cash, but don't have many bitcoins on hand, so we will be buying heavily to start with.

Our system monitors the prices of bahtcoin and other Thai exchanges daily to ensure that our prices are the best in Thailand.

I do a little mining in Thailand too. I go via MtGox > Dwolla > US Bank > ATM. I know that sounds like a hassle but it's very easy. Real problem is that the ATMs here now charge $5 on top of the $2 my bank charges. You probably know that already given the other Thai thread here.

It seems like the best choice for only 5 BTC is topping up phone credit and then sending it to others in exchange for baht if you can find people who want to top up (it's easy to transfer credit phone2phone). I thought about doing this in my "village". Put out the word that people can top up their phone with me to save them going into 7-11 etc.

But to be honest it's probably too much hassle and I'll end up taking money from the ATM anyway, so better the BTC just ends up in my bank. I actually only lose 25 cents to Dwolla going that route. Now, if I had any real volume in BTC then it sure would be nice to bypass the banking system so I'm always keeping an eye out for other ways.

... edit
One way I've seen but not tried: Use AurumXchange to get MtGox code into Liberty reserve. Then use EntelNova to get Liberty Reserve direct deposited to Thai bank. This seems to be about 2% fee plus 0 - 35 baht bank fee plus 0.5% loss on exchange rate (approx). Or maybe a bit more. Not sure as I haven't tried it but it is feasible based on their web site services info .

I assumed he was talking about the bigger picture, the whole global economy and such... If it was just bitcoin then yeah, more people need to know. Saw a TV news program in China about it a few days ago. However the number of users of the peer to peer client only went up to 3k and then back down to 1k. Hope it does catch on.

I'm in Shanghai - I can assure you few people know about it. You can easily see it by the level of trades in RMB (I'm desperate to buy RMB, but there isn't the depth to allow me to make worthwhile transfers yet).

I think they know it.. they just don't express things the same way people in the west do...

Mt.gox have a Hong Kong bank account which charges no fees - though the other sending/receiving bank probably does (unless you are in mainland China - the Chinese are in a strong position right now - if only they knew it).

  Do you have a bank account in Thailiand? Without knowing much about the banks there I would think your bank would directly accept, at the least a SWIFT transfer from a place like MtGox. Though I am not at all familiar with SWIFT fees from a bank in Japan to a bank in Thailand. You may want to contact your bank and ask them how much a swift transfer would cost or contact Gox support to ask, or both for that matter.
  Has any one here used Swift out of Mtgox and able to chime in on the cost? If so, do you happen to know which bank Gox sent from and care to say what country bank they sent to. Since Gox has accts in several countries.


  I know my bank charged me some $60 USD to transfer money via SWIFT to S. Korea.. :/

 Edit; To add; to my banks high cost, since swift is normally cheaper than a regular wire transfer, my bank does not directly have SWIFT. So they charged me a wire fee to send to a 'partner' bank that did and then charged me the Swift fee from that bank to destination from there.

   If you know your bank's swift code, or care to share your bank name it is possible to look up what the estimated cost would be.

If I sell my 5 bitcoins and then wire the money to Thailand I wont really be left with a whole lot. Unless you know of how to get US dollars into Thailand?

If nothing else, why not exchnage BTC for GBP, USD, EUR, or other currency that has a good exchange rate to Baht from there?  Certainly not to discourage direct Baht<-> BTC exchange but it could be much less hassle and may even make you a few Baht if done properly.

I know this is an old thread but bahtcoin.com is now having very poor pricing. I mine in Thailand and will sell bitcoins for Thai baht if anyone is still interested.

That has to be awkward.  ฿531 = ฿1.0




That's ฿531 THB = ฿1.0 BTC
(or ฿531 THB = ⓑ1.0 BTC)

that is an awesome domain name! who runs this?

http://www.bahtcoin.com/

unfortunately they seem to be out of coins at the moment.
(not sure if they ever had any)

anyone in thailand have any experience?

i would ideally like to buy in baht if possible