hi, i've read a few posts but they seem out of date or loaded with spammers.

 

someone wants to pay me for something in bitcoin. how would i take that and get baht? (i'm in thailand now, UK passport or thai passport ok too)

 

i assume i need to open a bitcoin account at something like bitkub, have them send the btc there, then i withdraw to a thai bank act. is that right? are there any rules on fees, taxes, limits i should know about.

 

please don't reply and tell me to hold onto it, i'm asking for an answer on this question only. thanks

 

 

 

You need an Exchange account into into which the Bitcoin is deposited and then cashed. I use an Australian exchange as that is where my finances are based. If you want to withdraw in Baht then I suggest you need a Thai Crypto Exchange but I have not tried so cant recommend any.

 

Different exchanges want differing ID requirements depending on what you want to do and also the country the exchange is based in as it has to comply with the country's finance laws. One the account is opened you click somewhere to "receive" coin. You will be given a long wallet address which you will need to send to the sender.

 

Tax would only be paid if you made a profit on the sale and that is up to you to report it to you relevant country tax office. Fees vary with exchanges. Limits also vary with exchanges, the amount of ID you provide and sometimes length of membership.

 

It is a crypto exchange account and not specifically a Bitcoin account as exchanges usually deal in many other cryptos as well as bit coin. Most exchanges are improving but the first one I used in Australia was limited in that you could only buy or sell Bitcoin dealing in cash. If you wanted to buy or sell any other crypto you had to exchange for Bitcoin. However you would not have to worry about that.

 

Hope this helps.

Edited October 2, 20205 yr by Dazinoz

First you would need a wallet to hold it in.  Also realize that every transaction has a fee so you will lose some of the money.  Like Bitcoin ATMs take about 10%.

There is a broker in Australia I use,  Caleb & Brown.  They can buy and sell for you from/to fiat currency.  

Edited October 2, 20205 yr by rwill

1. Make an account at BitKub.

2. Make "Identity Verification Level 1" by adding passport/thai id card info.  

3. Link your Thai bank account.

4. Send your BTC deposit address to the person that is paying you.

5. After receiving the BTC, sell the BTC for THB.

6. Withdraw the THB to your bank.

 

Selling BTC to THB has a 0.25% fee.

Withdraw (up to 100k) THB to bank for a 20 THB fee.

 

* Make sure you send the right BTC address to the person paying you. Or send a small amount to test it out first. 

 

16 hours ago, steve2112 said:

someone wants to pay me for something in bitcoin

Like @pingpongplayer said, but it seems a long winded way to get someone to pay YOU for something unless you put a hefty surcharge on them, otherwise tell them to send you the currency you want.

F*k KYC, f*k AML, f*k uploading scans of your passport to random websites. Contact traders directly on localbitcoins.com without registration

 

https://forum.thaivisa.com/topic/1184983-coinbase-bitcoin-to-thailand-how/?tab=comments#comment-15867527

 

 

thanks to Krungsri and Kasikorn it is possible to get cash from the ATM without having any card - the buyer will tell you the number and password in Whatsapp/Line/whatever. Example: https://localbitcoins.com/ad/1212210/cash-out-your-bitcoins-cash-at-atm

Edited October 2, 20205 yr by fdsa

I would not accept it.  It is too much of a hassle to deal with.  Insist on baht or a currency easily converted to baht.

1 hour ago, pingpongplayer said:

1. Make an account at BitKub.

 

 

4 hours ago, pingpongplayer said:

4. Send your BTC deposit address to the person that is paying you.

Hi, I recently open my bitkub account & I can't seem to find BTC deposit address to allow the person that is paying me? Appreciate for further explanation.  

 

Been using https://coins.co.th/ since 2017 for bitcoin withdrawals.

 

Once you verify your identity, you will be able to withdraw BTC to your bank. Usually takes a few minutes to arrive into bank.

I use BitKub, their system is easy to use and quick. 

 

3 hours ago, nabbie said:

Hi, I recently open my bitkub account & I can't seem to find BTC deposit address to allow the person that is paying me? Appreciate for further explanation.  

 

At the top right icons, there is a "My Wallet" link.

Quite a few replies but nothing more from OP

On 10/2/2020 at 10:50 AM, fdsa said:

F*k KYC, f*k AML, f*k uploading scans of your passport to random websites. Contact traders directly on localbitcoins.com without registration

 

https://forum.thaivisa.com/topic/1184983-coinbase-bitcoin-to-thailand-how/?tab=comments#comment-15867527

 

 

thanks to Krungsri and Kasikorn it is possible to get cash from the ATM without having any card - the buyer will tell you the number and password in Whatsapp/Line/whatever. Example: https://localbitcoins.com/ad/1212210/cash-out-your-bitcoins-cash-at-atm

 

I agree completely with the sentiment, but if you are cutting out localbitcoins and contacting the traders directly, how are you confident of receiving your fiat after sending the bitcoin? This is not a sarcastic or rhetorical question; I would really like to know.

23 hours ago, tyler28 said:

 

I agree completely with the sentiment, but if you are cutting out localbitcoins and contacting the traders directly, how are you confident of receiving your fiat after sending the bitcoin? This is not a sarcastic or rhetorical question; I would really like to know.

Ive used localbitcoins before in the uk few years back and the tx's went fine, i brought btc and ltc and there was a reputation system so you can buy from people whom have traded before so this offers some form of confidence , use the escrow system so that payment isnt released untill the btc are sent. You also pay slightly higher rate on localbitcoins than that the actual mid market rate at the time.

 

avoid any suggested methods outside of the escrow and avoid a meet up unless you are extremely confident.

 

Cant say for Thailand exchanges but your better off just setting up on a reputable exchange, connect to your bank account so you can easily cash out when you need to.

On 12/27/2020 at 6:43 PM, tyler28 said:

 

I agree completely with the sentiment, but if you are cutting out localbitcoins and contacting the traders directly, how are you confident of receiving your fiat after sending the bitcoin? This is not a sarcastic or rhetorical question; I would really like to know.

 

I was trading on localbitcoins with a few reputable traders before localbitcoins made mandatory account verification, then I just moved to Whatsapp and never was scammed since. 

Just look for a trader with thousands of positive reviews and ask them for contact details.

That hasn't been my experience at all. I was scammed by a user called "CryptoCashThailand" who has 10,000+ trades across various such platforms. Fortunately, I didn't risk a very large amount, since I knew it would be dangerous. I'd advise sticking to Paxful, Localbitcoins, etc. and NOT dealing with traders (even major ones) on Telegram, etc. Take away the escrow and the feedback system, and they have NO reason to deliver on their end of the trade.

On 10/2/2020 at 5:49 PM, Dazinoz said:

Quite a few replies but nothing more from OP

 

On 10/1/2020 at 5:07 PM, steve2112 said:

please don't reply and tell me to hold onto it,

 

I hope you held onto it for 3 months at least. ????

Sorry the scammer mentioned above is known as both CrytoCashThai and CryptoCashThailand, depending on the platform (Paxful vs Localbitcoins, etc.)

Edited January 6, 20215 yr by tyler28
Correction.

22 hours ago, tyler28 said:

That hasn't been my experience at all. I was scammed by a user called "CryptoCashThailand" who has 10,000+ trades across various such platforms. Fortunately, I didn't risk a very large amount, since I knew it would be dangerous. I'd advise sticking to Paxful, Localbitcoins, etc. and NOT dealing with traders (even major ones) on Telegram, etc. Take away the escrow and the feedback system, and they have NO reason to deliver on their end of the trade.

Please share more information - screenshots or chat logs.

 

 

a note from my localbitcoins account:

Quote

People you trust
BTCX (1000+; 100%)
dgon1990 (3000+; 100%)
Fahsky (1000+; 100%)
Goonerdan (3000+; 100%)
Pattayaguy (1000+; 100%)
rdaria (1000+; 100%)
redonion (3000+; 100%)

 

People that trust you
Goonerdan (3000+; 100%)
rdaria (1000+; 100%)
redonion (3000+; 100%)
 

 

- had no problems with these ppl and traded with some of them privately (not on localbitcoins/localethereum).

On 1/7/2021 at 4:01 PM, fdsa said:

- had no problems with these ppl and traded with some of them privately (not on localbitcoins/localethereum).

You trade locally? @fdsa

4 minutes ago, Jenkins9039 said:

You trade locally? @fdsa

no, now hodling, ping me when Bitcoin reaches $200k ????

I think Bitcoin will trade at $35-$40K or more,  before the end of the year.  Just my opinion so don't go crazy on me. 

https://satangcorp.com/

Join Binance and do P2P to get the money sent to your Thai bank account. 

Have traded with the mentioned 'scammer' without any issues.... but like all transactions, there is the chance that people change or IMO the off chance that the trader dies or has an accident in the middle of a transaction and you never hear from them again.   

On 2/2/2023 at 7:44 PM, Neeranam said:

Join Binance and do P2P to get the money sent to your Thai bank account. 

This is the best way IMO, and once you've done it a few dozen times, you'll understand why they can never really enforce any kind of crypto ban.   

3 hours ago, Heng said:

This is the best way IMO, and once you've done it a few dozen times, you'll understand why they can never really enforce any kind of crypto ban.   

just force the banks question every person-to-person transaction over 10k THB and voila, crypto is dead.

4 hours ago, fdsa said:

just force the banks question every person-to-person transaction over 10k THB and voila, crypto is dead.

It would cost the banks a LOT of money to even try to do that and why would banks care about crypto ??   

20 hours ago, fdsa said:

just force the banks question every person-to-person transaction over 10k THB and voila, crypto is dead.

And voila they'll also end all prostitution and narcotics trafficking at the same time.   You have my vote for PM.   

 

But just for anyone wondering... if/when the bank calls, just say it's for socks and spices.    Make up a new answer every time.    Sorted.