Best place to buy bitcoin with fiat in ASIA!
Inevitably coinbase is ranked as the best exchange center to buy bitcoin, but what if you're not in the supported region? Coinbase is pretty slow to expand to other countries especially to Asia, and the only supported country now is SIngapore. So whats the alternative to buy bitcoin?
Sadly only Singapore is supported 😣😤
Civil war of exchange sites
There are many reviews already about these sites, but are they really what they claimed to be? Are you receiving the maximum BTC per USD?? So here, I want to share with you the site I personally tried and I think is the best for bitcoin exchange so far if you're living in Asian countries. So according to the top 6 sites listed in https://www.bestbitcoinexchange.io/, I personally tried LOCALBITCOIN.COM, CEX.IO and COINMAMA.COM.
Why do I tested only 3 sites? Cause Poloniex dont even accept fiat deposit and coinbase for obvious reason. Kraken I'm still waiting for my verification to be done...
How I evaluate :
MODE OF PAYMENT I'M USING : CREDIT CARD/BANK TRANSFER
CRITERIA OF EVALUATION :
- EXCHANGE RATE
- TRANSACTION FEE
- VERIFICATION HASSLE
- RELIABILITYMaximum BTC with least amount of fiat paid is the winner
Exchange rate :
By today's rate 18/8/2017
CEX.io offers a rate of 4748$ per BTC
LOCALBITCOIN.COM RATE : 4293.17$ per BTC
coinmama.com rate : 4570.86$ per BTC
Beware of cex.io scam too:
This is the real price (4748$)
Clearly localbitcoin.com the winner. Lowest price for one BTC.
TRANSACTION FEE
Conclusion
Bank transfer is clearly the best way to go. Since both localbitcoin.com and cex.io both offer zero transaction fee. But if you're really impatient to get that BTC, credit card could be an alternative. Cex.io and coinmama do provide that feature except localbitcoin.com. Here I conclude that Localbitcoin and cex.io are draw
Verification hassle
This is the most troublesome procedure when buying bitcoin. So which site could keep it simple and hassle free?
All sites basically need the same things :
- Identity documents for example (driver license, ID card, passport)
- proof of residency, for example bank statement (which required only by cex.io) Verification details here
- home addresses
- personal info
Cex.io also requires you to verify for credit card payment. Through my experience, they used more than a month just to get my credit card verified which is a big thumbs down.
Coinmama.com is way simpler, which only requires your ID to verify. And you can start purchasing up to 5000$, but if you want to buy more you have to give other details again.
Localbitcoin offers the BEST. It requires your ID and phone number for verification. But it doesn't limit your purchasing power. which is really convenient.
RELIABILITY
Localbitcoin uses escrow system to protect its users.
Cex.io and coinmama
Basically promises you that they will release the BTC once you made the payment.
Cex.io do have refund policy, giving the users right to refund when he/she changes her mind. Refund policy
Coinmama.com do not offer such policy at all.
CONCLUSION
Localbitcoin.com is undoubtedly the best exchange site to buy bitcoin. Free transaction fee using bank transfer. Lower price per btc. Take no charges from transaction fee! Second place should be credited to coinmama.com and the last cex.io for really slow verification process and bulky one. And also high price per BTC.
That's it for now, folks! Do comment what you think about my review, and what did I missed out. Also if found a better site than localbitcoin.com or coinbase do let me know in comment below too! Have a great day guys.
My friend, a kind reminder here.
#cn tag is stand for chinese.
However, no chinese was detected in this article.
Please use wisely for your tag,thank you.
How does it make you feel?
Wow chill man. I was posting to cn for the wrong reason. I was thinking to reach out all the asian people I could think of. So I put the tag cn. He's right though, #cn should've chinese characters. I will do it in other post since I know how to write Chinese anyway :) Don't be mad dude. haha. I think it's better to comment about my article. What should I improve on? Do you guys agree with my findings? Or are there better site to buy bitcoin?
@abay is a spammer. He also is brand new, so you shouldn't let them tell you anything. This is our platform and there is freedom here. That user is a dust account that copy/pastes, you dig?
Alright it's a bot. got it. Thanks! But I'll try include some Chinese writings next time.
Blocktrades
Isn't it annoying?
People just commenting garbage...
Spam.