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which crypto exchange for US expats


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Have any American expats signed up for a crypto exchange while living in Thailand?  If yes, which exchange did you use?

Tried to sign up for a Binance.US account but their drop-down menu for, "which state do you live in" doesn't allow me to type in my Thailand address.

Having similar problems with Coinbase Pro; their system instantly detected my IP address was in Thailand and promptly advised me that they do not yet serve Thailand.

Most of my currency holdings are located in US banks in US dollars, which is why I want a US based exchange.

I no longer have an address in the US so I must use my Thai address.

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Avoid Coinbase at all costs. Catastrophic is the only adjective I could use that accurately reflects their inability to administrate properly

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56 minutes ago, hanssna said:

When in Thailand...  use a Thai exchange / wallet. I'm very happy with Bitkub 

Bitkub are not accepting new registrations at the moment 

 

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On 2/21/2021 at 1:37 PM, siamike said:

Have any American expats signed up for a crypto exchange while living in Thailand?  If yes, which exchange did you use?

Tried to sign up for a Binance.US account but their drop-down menu for, "which state do you live in" doesn't allow me to type in my Thailand address.

Having similar problems with Coinbase Pro; their system instantly detected my IP address was in Thailand and promptly advised me that they do not yet serve Thailand.

Most of my currency holdings are located in US banks in US dollars, which is why I want a US based exchange.

I no longer have an address in the US so I must use my Thai address.

You can sign up and be accepted by US exchanges, but can't sign in from Thailand because they don't accept ID verification from abroad.... even if you use a VPN.   Anybody have a workaround for this problem?

 

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5 hours ago, hanssna said:

When in Thailand...  use a Thai exchange / wallet. I'm very happy with Bitkub 

Only problem is bitkub cannot accept new registrations until they resolve their serever issues and get the green light from the SEC. Suggest you use Satang Pro as a Thai based platform.

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1 hour ago, dannyol said:

You can sign up and be accepted by US exchanges, but can't sign in from Thailand because they don't accept ID verification from abroad.... even if you use a VPN.   Anybody have a workaround for this problem?

 

A few yrs ago I signed up with itbit in new york and they did thorough KYC and AML checks on me. I passed and they have my thai address in the system. They will wire funds to your thai bank account. They are now called Paxos. (ibit by paxos). They are highly regulated and really professional

 

Avoid coinbase at all costs. what a pathetic exchange that is. Constantly hearing about them freezing user accounts

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I an American and got in last month at Satang Pro.

The pros :

1. The sign up and approval process only took a day or so. Just submitted a passport and filled out a w-9 for Americans only. Non-Americans don't have to fill it out.

2. You can easily use Promptpay to deposit directly from a Thai Bank account which is very convenient, free, and instant.

3. Their customer service is pretty responsive with online chat and e-mail.

4. The interface is quite good and I have had no problems withdrawing crypto to my wallet.

5. They offer limit and market orders and a decent choice of currencies available to trade. Fees are not bad either. But they do not offer any incentives or interest if you keep coins on the exchange.

 

The only major con I see so far is that the currency spreads are about 1-2% worse than the major US exchanges such as Binance or Gemini.

Also, who knows what they will do when the Thai govt plans to regulate crypto traders later this year.

 

I also tried coins.th but their fees and spreads are a ripoff and they only sell bitcoin.

I got fed up with Bitkub and their delays in approving accounts. They have been down now for over a month.

 

If you have American bank accounts and a US address -  I highly recommend signing up on Voyager as you can use ACH for deposits and withdrawals and their mobile app is really easy and informative. They will have a desktop version soon.

 

I also recommend using Binance.com (not Binance.us) as they are an industry leader and have the best selection of coins for investment. You do not need to go through the KYC process with Binance.com if all you do is send and receive crypto. They also offer staking and decent interest.

 

For a soft wallet I highly recommend Exodus.

 

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13 hours ago, jack71 said:

A few yrs ago I signed up with itbit in new york and they did thorough KYC and AML checks on me. I passed and they have my thai address in the system. They will wire funds to your thai bank account. They are now called Paxos. (ibit by paxos). They are highly regulated and really professional

 

Avoid coinbase at all costs. what a pathetic exchange that is. Constantly hearing about them freezing user accounts

Yes, all fine that you set up the exchange in the US and gave your Thai address, but try to set up an exchange in the US from Thailand and you are in for disappointment.

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7 hours ago, dannyol said:

Yes, all fine that you set up the exchange in the US and gave your Thai address, but try to set up an exchange in the US from Thailand and you are in for disappointment.

Sorry, my comment above is not well written. I was actually in Thailand sitting at my desk here when I registered with itbit and gave my id and address. They did KYC when I was here as well. Thus, it is possible to open a crypto account whilst being based in Thailand at a US exchange. 

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On 2/26/2021 at 8:28 PM, calbts2 said:

I also recommend using Binance.com (not Binance.us) as they are an industry leader and have the best selection of coins for investment. You do not need to go through the KYC process with Binance.com if all you do is send and receive crypto. They also offer staking and decent interest.

 

 

From what I've read on the internet, Binance.com will no longer accept anyone with a US Passport; but  perhaps I could use my Thailand driver license as proof of ID instead of my US Passport.  I've been able to partially sign up with Binance.US but I needed to contact their customer support for help with inputting my Thailand address, a process which is taking weeks and weeks to complete ☹️.

 

Does Satang Pro allow you to link a US bank account to your wallet,...  I know that Bitkub does not.

 

 

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No Satang only allows Thai bank accounts.

 

And Binance.com will probably NOT accept a Thai driver license. As I mentioned in my previous post, you can exchange/deposit/withdraw crypto on Binance.com without needing to go through KYC - no ID/Passport needed.

So if you are in Thailand you can

1.) Deposit fiat (Thai Baht) to Satang via your Thai bank account.

2.) Purchase crypto then withdraw to your personal wallet or send it to your Binance.com account wallet to exchange for other crypto or staking.

 

When selling just deposit crypto back to your Satang exchange wallet, sell the currency, and withdraw to your Thai bank  account.

 

 

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5 hours ago, calbts2 said:

 

So if you are in Thailand you can

1.) Deposit fiat (Thai Baht) to Satang via your Thai bank account.

2.) Purchase crypto then withdraw to your personal wallet or send it to your Binance.com account wallet to exchange for other crypto or staking.

 

When selling just deposit crypto back to your Satang exchange wallet, sell the currency, and withdraw to your Thai bank  account.

 

 

 

Thanks for the step-by-step on how to navigate a path to buying, trading, & selling cryptos using Thai Baht as my fiat currency.  

But my end goal is just a little bit different.  As I mentioned in my OP, most of my cash income is in US banks, in dollars, so I would much prefer being able to use dollars as my fiat currency.  If Binance.US will ever resolve my Thailand address issue, I will hopefully be able purchase crypto coins using my US Dollars.   I will then transfer those coins to my wife via her Bitkub account thereby making the transfers of dollars to Thai Baht nearly fee free.  But there are still a few parts of this process I'm unsure of, such as the cheapest way to get Dollars into my Binance.US wallet; will I be able to set up my Binance.US wallet as a payee?  

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21 hours ago, siamike said:

 

From what I've read on the internet, Binance.com will no longer accept anyone with a US Passport; but  perhaps I could use my Thailand driver license as proof of ID instead of my US Passport.  I've been able to partially sign up with Binance.US but I needed to contact their customer support for help with inputting my Thailand address, a process which is taking weeks and weeks to complete ☹️.

 

Does Satang Pro allow you to link a US bank account to your wallet,...  I know that Bitkub does not.

 

 

You know binance.com never did require you to enter any information or upload a passport.

 

I'm not sure if this has changed (I opened my binance.com account years ago) and it is subject to withdrawal limits which last time I checked were 2 Bitcoin per day.

 

They check to see if you're in the US (IP address, date/time zone, etc), so make sure you use a Thai IP when logging in and making a new account and you might be surprised.

 

They probably ask if you're from the US and if you replied yes I suspect they would refuse to open the account, of course you could just lie.

 

Edited by ukrules
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On 2/27/2021 at 9:33 AM, dannyol said:

Yes, all fine that you set up the exchange in the US and gave your Thai address, but try to set up an exchange in the US from Thailand and you are in for disappointment.

I'm a Brit living in Thailand and signed up for Kraken in the US, no problem. 

I use Bitkub in Thailand but they are not accepting new accounts,

For UK I have Bitstamp.

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On 2/26/2021 at 3:26 PM, cel67 said:

Bitkub are not accepting new registrations at the moment 

 

If I remember correctly, Bitkub was told by the Thai security exchange recently to stop adding new customers.  They are at 4000 customers and the SEC is worried about security issues. Hacks have been know to happen

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Check out Bitstamp. It was very easy for me to set up the account. I used my Thai DL as identification but I think using a US passport would have been fine too. I used my Thai address. I funded the account in USD via wire transfer from a US bank. It was very simple and quick. I think they charge .05% to receive a wire transfer and ACH deposits are free. There's a link to their fee schedule at the bottom of their homepage.

 

I had occasion to call them several times and in each case they were responsive and helpful.

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I have an account also with Bitstamp. The KYC is straight forward and you are able to sell your crypto and withdraw to a designated bank account. On the downside the trading pairs a limited but if you just want to buy BTC and ETH on spot and be able to cash out to Fiat Bitstamp is a good choice. They also claim to hold 98% of the exchange crypto in cold storage. 

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