Good or bad experiences at bx.in.th

[davidst01]

I've had 1 good report from a member of this forum about bx.  

 

Please rate your experience here and specify if you have ever sold a crypto and withdrawn thai fiat to your thai bank account successfully. 

 

https://bx.in.th/

[yabbra]

I did my first internet bank transfer to fund my account just over two hours ago. I followed their deposit procedure exactly. It says the deposit will be approved in less than 15 minutes but I'm still waiting. Also contacted them but no reply yet. Is this normal? Are they 24/7 or have business hours that I don't know about?

Cheers

Edited November 11, 2017 by yabbra

[WorriedNoodle]

Unlike on my regular online broker with bx.in.th their is no option I notice (unless I am mistaken?) to put a sell STOP price on any holdings? 

[ghworker2010]

On 11/11/2017 at 12:14 PM, yabbra said:

I did my first internet bank transfer to fund my account just over two hours ago. I followed their deposit procedure exactly. It says the deposit will be approved in less than 15 minutes but I'm still waiting. Also contacted them but no reply yet. Is this normal? Are they 24/7 or have business hours that I don't know about?

Cheers

HI there, can you please update and tell us what happened. Please give details so that other forum members / bitcoin community benefit. thanks

[ghworker2010]

On 11/12/2017 at 9:06 AM, WorriedNoodle said:

Unlike on my regular online broker with bx.in.th their is no option I notice (unless I am mistaken?) to put a sell STOP price on any holdings? 

I don't know the answer to your question sorry. 

 

Can you comment on your dealings with that exchange? Have you ever sold bitcoin and funded back to your thai bank account? What were the fees?

[WorriedNoodle]

2 hours ago, ghworker2010 said:

Have you ever sold bitcoin and funded back to your thai bank account? What were the fees?

I have not yet withdrawn funds back to my Thai bank account, so unsure exact fees there. Not much I would imagine. As for trading in/out of THB to crypto currencies they charge 0.25% of the transaction amount.

[cookai]

Have used for several years.  Have done 30+ withdrawals, with no problems. Longest delay was about 12 hours.  There is a trading fee and a withdrawal fee - about 120 Baht for 100k.  They have KBank and KTB.  They are the main exchange in Thailand, and if you have THB or need THB a great way to get funds in or out.   No Americans allowed.  

[speedtripler]

Americans not allowed but the owner is American lol

[davidst01]

On 11/21/2017 at 2:40 PM, cookai said:

Have used for several years.  Have done 30+ withdrawals, with no problems. Longest delay was about 12 hours.  There is a trading fee and a withdrawal fee - about 120 Baht for 100k.  They have KBank and KTB.  They are the main exchange in Thailand, and if you have THB or need THB a great way to get funds in or out.   No Americans allowed.  

If I register with them but havent previously purchased any bitcoin through them can I send some BTC to the wallet and withdraw. Or do they have a rule where I must have actually purchased the bitcoin off their exchange originally? 

 

If I send USD bitcoin do they convert to thai using standard spot rates. I presume they will make some money on the conversion which is fair enough. 

 

Thanks for letting me know if you can. 

[cookai]

10 minutes ago, davidst01 said:

If I register with them but havent previously purchased any bitcoin through them can I send some BTC to the wallet and withdraw. Or do they have a rule where I must have actually purchased the bitcoin off their exchange originally? 

 

If I send USD bitcoin do they convert to thai using standard spot rates. I presume they will make some money on the conversion which is fair enough. 

You can send them Bitcoin from any BTC wallet anywhere.  In your account are BTC, ETH, DASH, etc wallets... get the address and send crypto in.   Then you can sell for THB at the current BX rates.  They take .25% fee for the trade, then take about 120 Baht per 100k withdrawn as fees.  The rates at BX are usually the best in Thailand, so don't worry about the fees.

[davidst01]

1 hour ago, cookai said:

You can send them Bitcoin from any BTC wallet anywhere.  In your account are BTC, ETH, DASH, etc wallets... get the address and send crypto in.   Then you can sell for THB at the current BX rates.  They take .25% fee for the trade, then take about 120 Baht per 100k withdrawn as fees.  The rates at BX are usually the best in Thailand, so don't worry about the fees.

Thanks for the info. Sounds good. I suppose I can try them out with a small usd amount and see what happens. I don't know why Im so sceptical of Thai exchanges but maybe I should put my faith in the system. 

 

many thanks

[cookai]

Be skeptical of all exchanges. Enough have gone down.  If you want to get money out in THB quickly, you should set up your banking connection first before dipping your toe in.. then try.  Start with 500 Baht, and go from there.  Also to help your confidence: https://bx.in.th/info/transparency/

[yabbra]

On 11/11/2017 at 12:14 PM, yabbra said:

I did my first internet bank transfer to fund my account just over two hours ago. I followed their deposit procedure exactly. It says the deposit will be approved in less than 15 minutes but I'm still waiting. Also contacted them but no reply yet. Is this normal? Are they 24/7 or have business hours that I don't know about?

Cheers

 

On 11/19/2017 at 11:03 AM, ghworker2010 said:

HI there, can you please update and tell us what happened. Please give details so that other forum members / bitcoin community benefit. thanks

The account was eventually funded after about 3 hours. I did do another transfer the following which only took 30 minutes, so the delay may have been because it was my very first transfer.

[WorriedNoodle]

On 11/24/2017 at 5:03 PM, cookai said:

Be skeptical of all exchanges. Enough have gone down.  If you want to get money out in THB quickly, you should set up your banking connection first before dipping your toe in..

Good advise. A few weeks back I set up my Thai bank account with them to get my money back and they immediately rejected the request as invalid with a 48 hour wait on answering tickets!

 

The only reason I was rejected was during bank account linking they need a jpg image of your bank book cover page. They don't say what format the jpg should be of course but I unacceptably sent a neatly desktop scanner grey-scale image of it. Not acceptable it turns out. They were happy with a crappier looking color photo of same book taken with my phone.

 

It actually only took 15 minutes to sort all by support ticket online, but they do suggest 48 hours.

 

 

[easyridercc]

Good experience so far, i've transferred money in from scb, purchased btc, bch and omg and transferred back to scb (took about 6hours to arrive).  i like you can purchase many alt coins as well as bitcoin.  2 features I think are missing, stop loses and import a private key (for paper wallets that you want to import and then sell).  Sell rates on btc are better than coins th, however still 100-150$ different from the big exchanges.  For example when bitcoin topped 8000, bx was at around 7850, not sure why but still best i've found in thailand.  As with all exchanges, don't keep money on there for long, paper wallets recommended but i hope they add ability to import paper wallets soon.

[prepress]

To register an account in BX.in.th is too complicated for me. I got stack with the 2factor authentication and deposit from a Thai Bank.

The customer service was helpful but finally I gave up.

In the meantime I'm registered with an exchange place in Europe and everything went fast and smoothly. All transactions are done instantly !

 

[cookai]

10 hours ago, prepress said:

To register an account in BX.in.th is too complicated for me. I got stack with the 2factor authentication and deposit from a Thai Bank.

The customer service was helpful but finally I gave up.

In the meantime I'm registered with an exchange place in Europe and everything went fast and smoothly. All transactions are done instantly !

 

Totally agree. This is not the best way get into crypto for a beginner.  Really suggest a new person start with localethereum.com.  Reason being you're not asked for your identity docs, and with ETH, fees are lower and you're dealing directly with a seller and a simple thailand bank transfer. 

[jesimps]

I'm a brand spanking newbie to cryptos but have managed to open an account, deposit baht and even make some very small trades with bx. Even placed an order which triggered late last night when I was in bed. It's all dipping my toe into the water at the moment, mainly to become aquainted with the software. If I hadn't taken the plunge I could have been reading up on it forevermore and still not gotten any further forward.

 

Once I started jumping through the hoops with bx I found it a lot less difficult than it first appeared. It does help if you use internet banking. I do an online transfer and take a photo of the confirmation with my phone camera.

 

I haven't plucked up the courage to move any coins to a wallet yet, although I have the Electrum wallet downloaded and ready to go. Any advice on whether there's a better one about and pitfalls to watch out for will be gratefully accepted.

 

My total outlay so far is only 6,000 baht so don't stand to lose too much if the exchange goes bust.

 

In these early days, no complaints whatever about bx.

 

 

[davidst01]

15 hours ago, easyridercc said:

Good experience so far, i've transferred money in from scb, purchased btc, bch and omg and transferred back to scb (took about 6hours to arrive).  i like you can purchase many alt coins as well as bitcoin.  2 features I think are missing, stop loses and import a private key (for paper wallets that you want to import and then sell).  Sell rates on btc are better than coins th, however still 100-150$ different from the big exchanges.  For example when bitcoin topped 8000, bx was at around 7850, not sure why but still best i've found in thailand.  As with all exchanges, don't keep money on there for long, paper wallets recommended but i hope they add ability to import paper wallets soon.

IMHO better off to use a hardware wallet for sure

[davidst01]

26 minutes ago, jesimps said:

I'm a brand spanking newbie to cryptos but have managed to open an account, deposit baht and even make some very small trades with bx. Even placed an order which triggered late last night when I was in bed. It's all dipping my toe into the water at the moment, mainly to become aquainted with the software. If I hadn't taken the plunge I could have been reading up on it forevermore and still not gotten any further forward.

 

Once I started jumping through the hoops with bx I found it a lot less difficult than it first appeared. It does help if you use internet banking. I do an online transfer and take a photo of the confirmation with my phone camera.

 

I haven't plucked up the courage to move any coins to a wallet yet, although I have the Electrum wallet downloaded and ready to go. Any advice on whether there's a better one about and pitfalls to watch out for will be gratefully accepted.

 

My total outlay so far is only 6,000 baht so don't stand to lose too much if the exchange goes bust.

 

In these early days, no complaints whatever about bx.

 

 

buy a hardware wallet... either trezor, keepkey or ledger. Much better

[davidst01]

54 minutes ago, cookai said:

Totally agree. This is not the best way get into crypto for a beginner.  Really suggest a new person start with localethereum.com.  Reason being you're not asked for your identity docs, and with ETH, fees are lower and you're dealing directly with a seller and a simple thailand bank transfer. 

I disagree. Whats wrong with giving identity docs and doing things as everyone does via an exchange- as long as its a reputable exchange

[phetphet]

12 hours ago, prepress said:

To register an account in BX.in.th is too complicated for me. I got stack with the 2factor authentication and deposit from a Thai Bank.

The customer service was helpful but finally I gave up.

In the meantime I'm registered with an exchange place in Europe and everything went fast and smoothly. All transactions are done instantly !

 

You can get 2 Factor Authentication from Google, but something like Authy app on your phone also makes it very easy.

 

As for the hardware wallets, you could have bought them on sale from www.ledgerwallet.com.

Sale finishes today 27/11 I believe.

 

 

[easyridercc]

Thanks for sharing info on hardware wallet and sale price, ledgerlooks impressive.

Sent from my E5803 using Thailand Forum - Thaivisa mobile app

[davidst01]

1 minute ago, easyridercc said:

Thanks for sharing info on hardware wallet and sale price, ledgerlooks impressive.

Sent from my E5803 using Thailand Forum - Thaivisa mobile app
 

wait for the new trezor in january. Its the n.o 1 option

[jesimps]

8 hours ago, davidst01 said:

buy a hardware wallet... either trezor, keepkey or ledger. Much better

I think I'll wait a few days and buying one out of my winnings..........

[yabbra]

On 11/26/2017 at 9:21 AM, WorriedNoodle said:

Good advise. A few weeks back I set up my Thai bank account with them to get my money back and they immediately rejected the request as invalid with a 48 hour wait on answering tickets!

 

The only reason I was rejected was during bank account linking they need a jpg image of your bank book cover page. They don't say what format the jpg should be of course but I unacceptably sent a neatly desktop scanner grey-scale image of it. Not acceptable it turns out. They were happy with a crappier looking color photo of same book taken with my phone.

 

It actually only took 15 minutes to sort all by support ticket online, but they do suggest 48 hours.

 

 

The exact same thing happened to me too.

[cookai]

For get the trezzor - just get an ipod touch for storing wallets.  Easier to use, easier to update, mobile and has a resale value.  

[davidst01]

21 hours ago, cookai said:

For get the trezzor - just get an ipod touch for storing wallets.  Easier to use, easier to update, mobile and has a resale value.  

Bad advice! You can get your bitcoin hacked / stolen from any mobile device very easily. You are better off with a hardware wallet for large holdings of bitcoin. I suppose a mobile device is ok for small holdings as its not a big issue if its stolen. 

 

If you want an cold storage wallet for free the best is 

https://www.bitcoinarmory.com/

 

 

[FruitPudding]

On 21/11/2017 at 2:40 PM, cookai said:

Have used for several years.  Have done 30+ withdrawals, with no problems. Longest delay was about 12 hours.  There is a trading fee and a withdrawal fee - about 120 Baht for 100k.  They have KBank and KTB.  They are the main exchange in Thailand, and if you have THB or need THB a great way to get funds in or out.   No Americans allowed.  

Do you think the amount has an effect on the time? Larger amounts may need a human to handle it?

 

What would you say is a safe amount to put through the exchange? I'd feel nervous with anything over 250,000 THB.

 

 

[Dario]

Not long ago I was also looking for a reliable Bitcoin exchange in Thailand and I chose the largest: https://bx.in.th/. I do not regret. Support is lightning fast. I made another deposit this morning. 8 minutes after I sent proof of payment, the money showed up in my account. That is service! Trading is absolutely great with them. I can recommend this company.