BX Thailand Exchange Review

Update: As of September 2nd 2019, BX Thailand has announced they are shutting down. Deposits will be disabled after September 6th, Trading will be halted September 30th and all user funds must be withdrawn before November 1st.

Established in 2013, BX Thailand is based in Bangkok, Thailand. The exchange platform is owned and run by the Thai company based in Bangkok, Bitcoin Co. Ltd. The exchange mainly serves to the local Thai user profile, however, it does offer its features in other languages for the global investors who want to trade on the platform. Though the exchange also offers a wide variety of coins to trade, it does not boast a particularly high trading volume due to its focus on local users. BX Thailand prides itself on its security and transparency, as information regarding the team behind the exchange and the specific security measures they use can all be found online in great detail.

BX Thailand offers a flat trading fee, meaning it does not charge different fees for takers and makers. The exchange has a flat fee of 0.25%, which is just in line with the global industry average. Though this shows that the exchange is not at a disadvantage, it is important to note that most top performing and competitive exchanges charge fees that are slightly lower than the global industry average. The withdrawal fee on this platform is 0.0005 BTC, which is slightly lower than the industry average of 0.0008 BTC. Fiat-crypto trading is accepted alongside crypto-to-crypto trading, making BX Thailand an entry-level exchange, though the only the local Thai currency of THB is accepted. Deposits can be made through bank transfers, while credit cards are not a valid form of payment.

For enhanced security, account verification is required for when withdrawing or funding an account. Other security measures include the use of cold storage for a majority of the funds, code developed by the exchange’s own staff and fully encrypted wallet servers. The exchange also makes use of the two-factor authentication system (2FA), as is done by many other exchanges.

Its website is not as well designed as others, as it features a quite simple and basic interface. Though this is the case, the details that a user might need are all featured clearly on the home page, making it quite practical and user-friendly. There are only two language options on the website: Thai and English. The English translation on the interface seems to be quite good. Unlike many other cryptocurrency exchanges, BX Thailand does not support a mobile app. This could be a dealbreaker for those who prefer to trade on the go. It is reported by both English and Thai speaking users that the customer support is good as well, as there have not been any complaints that were left unattended to. The exchange frequently receives good reviews on online platforms.