Good or bad experiences at bx.in.th

[Firefan]

To stay on topic; I have been very satisfied with my short time (about a month+) with bx.in.th. Sign up was straight forward. The trading functionality is simply, receiving (BTC)  worked smoothly, the fee (0.25%/trade) is reasonable, linking and transfer to my Thai bank of some profits worked surprisingly fast (same day - within an hour).

 

Prices of BTC normally are at a premium (about 5% when I type this) but that is simply the Thai markets buyers and sellers creating that - I.e. not the fault of BX in any way.

 

I have yet to trade some of the other cryptos they have, but nice to have that option there too.

 

Cheers! 

[boomerangutang]

I wrote a query to their support on Sunday. Nearly a week, and they haven't responded.

[Firefan]

Boomerangutang; fair enough -  that sucks. I have not needed their support at all, so good you point that out! Cheers!

[boomerangutang]

I just now spoke with support at BX. I was pleasantly surprised they had someone available at 9:50 pm.  He had a thick difficult-to-understand accent, but we conversed.  He substantiated that BX doesn't accept Americans, and couldn't recommend any other exchange in Thailand. 

 

I suggested: they make a mention on their website: that they don't accept Americans BEFORE the application form process - .....that way Americans wouldn't spend the time, get the 2 photos, etc, .....and then find out AFTERWARDS that they're not welcome.

 

 

 

 

[Firefan]

I think Coins.co.th accept you yanks!  I have never used them but they have much fewer cryptos (1-2?) and their platform seems optimized for mobile platform rather than PC/MAC last time I looked into it. Cheers!

[how241]

Hello, I hope someone can explain something to me...I am thinking about buying some coins on 'bx'   and transferring them to a 'Trezor'  hardware wallet...I don't understand where the coins or coin info is stored ... They say that if you lose your 'Trezor' wallet to just go and buy another one and use the recovery seed and password to restore your coins...That would indicate to me that the coins and coin info are being stored in the cloud or at the 'Trezor' website or servers...  If so,  then how is that really safe and what is stopping those places from being hacked and you losing everything ???

[how241]

On 2/9/2018 at 2:33 PM, how241 said:

Hello, I hope someone can explain something to me...I am thinking about buying some coins on 'bx'   and transferring them to a 'Trezor'  hardware wallet...I don't understand where the coins or coin info is stored ... They say that if you lose your 'Trezor' wallet to just go and buy another one and use the recovery seed and password to restore your coins...That would indicate to me that the coins and coin info are being stored in the cloud or at the 'Trezor' website or servers...  If so,  then how is that really safe and what is stopping those places from being hacked and you losing everything ???

So far, I have not received any response from any of the places I posted this.  Does anyone know about this ??  I would appreciate any info even if it is only a guess.  Thanks

[DineshR]

I'm also curious to know the answer to our question above (how241). Additionally, are their costs to transferring cryptos from an exchange to a hardware wallet ( does the exchange charge a fee for the transfer ?) and from a hardware wallet to the exchange later on ? Would appreciate any insights from anyone with experience. Thanks.

[MrPatrickThai]

On 2/9/2018 at 2:33 PM, how241 said:

Hello, I hope someone can explain something to me...I am thinking about buying some coins on 'bx'   and transferring them to a 'Trezor'  hardware wallet...I don't understand where the coins or coin info is stored ... They say that if you lose your 'Trezor' wallet to just go and buy another one and use the recovery seed and password to restore your coins...That would indicate to me that the coins and coin info are being stored in the cloud or at the 'Trezor' website or servers...  If so,  then how is that really safe and what is stopping those places from being hacked and you losing everything ???

Stored on the blockchain.

[MrPatrickThai]

On 2/8/2018 at 9:55 PM, boomerangutang said:

I just now spoke with support at BX. I was pleasantly surprised they had someone available at 9:50 pm.  He had a thick difficult-to-understand accent, but we conversed.  He substantiated that BX doesn't accept Americans, and couldn't recommend any other exchange in Thailand. 

 

I suggested: they make a mention on their website: that they don't accept Americans BEFORE the application form process - .....that way Americans wouldn't spend the time, get the 2 photos, etc, .....and then find out AFTERWARDS that they're not welcome.

 

 

 

 

In what language did you converse?

 

There some great banter on the site and some good recommendations in 'chat'. I got my OMG back in July from a few guys talking about it going to rocket.

[how241]

55 minutes ago, DineshR said:

I'm also curious to know the answer to our question above (how241). Additionally, are their costs to transferring cryptos from an exchange to a hardware wallet ( does the exchange charge a fee for the transfer ?) and from a hardware wallet to the exchange later on ? Would appreciate any insights from anyone with experience. Thanks.

'wes12'  posted this :   "

All of the coins and coin info are stored on the public blockchain ( taking bitcoin as an example ) history on the blockchain cannot be rewritten. You have control of them because they are assigned to an address you own.

A wallet is comprised of a bunch of addresses, each address has its own private key, which is known to have generated the address and is almost impossible for someone to crack. When you want to authorise a transaction the wallet takes the private key and "signs" the transaction. 

Hardware wallets have the same functionality, but the advantage is that the private keys and entire signing process is done on the hardware and not on the computer. So if your computer gets hacked, they cannot take your private keys and thus your coins. You should be careful that you are sending the transaction the the right address as in the future when cryptos become more mainstream it will be more common for malware to swap the receiving address out. The hardware wallet will always show the correct transaction details.

The recovery phrase is used by the wallet as a 'seed' or starting point to deterministically generate its keys and addresses."

[DineshR]

Thank you for the answer but it still begs the question - if the wallet is stolen - and by extension - all the addresses it stores - how is it possible to recover them unless the addresses are stored somewhere else so that it can be restored. I assume, in the case of the Ledger Nano, the private key is somehow created by the 24 words you write down and keep separately.

Can someone help clarify this ?


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[speedtripler]

22 minutes ago, DineshR said:

Thank you for the answer but it still begs the question - if the wallet is stolen - and by extension - all the addresses it stores - how is it possible to recover them unless the addresses are stored somewhere else so that it can be restored. I assume, in the case of the Ledger Nano, the private key is somehow created by the 24 words you write down and keep separately.

Can someone help clarify this ?


Sent from my iPhone using Thaivisa Connect

You write down the recovery words on a piece of paper and put it somewhere SAFE

 

even if the device gets lost or stolen, you can use the secret words to regenerate all your funds, it's really that simple.... 

[DineshR]

Thanks speedtripler


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[Dario]

Hi everyone,

 

this evening I withdrew 20'000 Baht from my account at bx.in.th. When the money still did not arrive in my account 40 minutes after I confirmed the withdrawal, I sent a ticket to inquire. The answer was that during the weekends no withdrawals are executed, I have to wait until next week.

 

Question to my fellow members at BX: is this normal? Can someone confirm this? Thank you for any input.

Edited February 17, 2018 by Dario
Have to add an update

[Dario]

I have some good news: the transfer was executed a few minutes after I inquired. Kudos to BX, but one person from customer support said during weekends we have to wait 24-48 hours and another one said, BX regrets the inconvenience and appreciate my patience.

 

Well, anyway I got the withdrawal in a very timely manner.

Edited February 17, 2018 by Dario

[how241]

I just read that 2 Thai banks have stopped doing business with BX., as they are following instructions from Thailand Central bank asking banks NOT to have any dealing with crypto exchanges...The banks mentioned were Bangkok Bank and Krungthai Bank...Any have any experiences to confirm this ?

Edited February 28, 2018 by how241

[how241]

Here is a link to that article...If links are NOT allowed,  I apologize...  https://news.bitcoin.com/thai-bank-shuts-down-accounts-crypto-exchange/

[khunphil]

Well... I've never seen BBL account on BX (KTB abd KSK yes). And both are still available options here if you need to deposit or withdraw ... I just logged and checked, but I did not try to deposit, as I don’t have any more link with them.

So news are a little bit sensational ... maybe to spread FUD. Or maybe this is not yet official but they are working on it.

Cheers.

[Firefan]

BKK bank is linked to my account still and worked fine a few days ago (albeit slower - than previous transfers). I asked BX why it took 1-2 days to transfer despite not being holiday (compared to minutes before) and they said something about delay being BKK bank related as they somehow need to approve too - so maybe they had to change procedure/how they pay out/what account they transfer from. That said; it still worked. Cheers!

[khunphil]

Actually, I think they are speaking about BX bank account, not customers bank accounts. And at the moment, BX got 2 accounts, one is KTB this other one is KSK.

 

[MrPatrickThai]

On 2/28/2018 at 7:14 PM, how241 said:

I just read that 2 Thai banks have stopped doing business with BX., as they are following instructions from Thailand Central bank asking banks NOT to have any dealing with crypto exchanges...The banks mentioned were Bangkok Bank and Krungthai Bank...Any have any experiences to confirm this ?

It wasn't bx, it was tdax:-

 

Krungthai Bank has become the second financial institution after the Bangkok Bank to terminate transactions involving cryptocurrencies trading with Thai Digital Asset Exchange (TDAX), following a Finance... 

Edited March 2, 2018 by MrPatrickThai

[FruitPudding]

On 28/02/2018 at 7:14 PM, how241 said:

I just read that 2 Thai banks have stopped doing business with BX., as they are following instructions from Thailand Central bank asking banks NOT to have any dealing with crypto exchanges...The banks mentioned were Bangkok Bank and Krungthai Bank...Any have any experiences to confirm this ?

Definately not Bangkok Bank. I sent some money to BX a few days ago.

[metisdead]

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[likewise]

BX, always got my withdrawals within 24 hours so far no complaints.

[FruitPudding]

BX is normally great, but I have just waited 1 hr 30 mins for an ETH deposit (which still hasn't arrived).

 

On the FAQs it says crypto deposits are automatically added to balance.

 

My transaction was a success (according to etherscan) and address is correct (triple checked).

 

Anyone else experienced a delay like this for crypto deposits? Any ideas what could cause this? 

 

I even checked their (my) address on etherscan. The deposit arrived.

Edited April 20, 2018 by FruitPudding

[FruitPudding]

1 hour ago, FruitPudding said:

BX is normally great, but I have just waited 1 hr 30 mins for an ETH deposit (which still hasn't arrived).

 

On the FAQs it says crypto deposits are automatically added to balance.

 

My transaction was a success (according to etherscan) and address is correct (triple checked).

 

Anyone else experienced a delay like this for crypto deposits? Any ideas what could cause this? 

 

I even checked their (my) address on etherscan. The deposit arrived.

 

Funds just arrived, by the way. 

 

Good service as usual. No cause for complaint.

 

Edit: Baht arrived in bank already. Very fast. Excellent!

Edited April 20, 2018 by FruitPudding

[Riok321]

i had Such a Bad experience with them.. very bad verification process Very bad Team .. i submit passport and all documents with selfies even spoke to them ova phone they confirmed every thing is fine ..but once i submitted documents rejected and rejected with rubbish reasons ..Sign the document i did write Bx web name on document i did.. but, Still Rejected no Reasons lolssss annoyed.. 

[how241]

39 minutes ago, Riok321 said:

i had Such a Bad experience with them.. very bad verification process Very bad Team .. i submit passport and all documents with selfies even spoke to them ova phone they confirmed every thing is fine ..but once i submitted documents rejected and rejected with rubbish reasons ..Sign the document i did write Bx web name on document i did.. but, Still Rejected no Reasons lolssss annoyed.. 

Are you a USA  citizen ?  They don't accept USA customers .

[dorchester]

the Thai exchanges are okay,i have been using coins.co.th no problems but i never leave any significant amount on the exchange.When i am done trading everything goes on my trezor