Thai Baht to crypto to elsewhere... costs..

[Seeall]

Hi all, seems like a simple question but I dont think I found the best answer if I may ask you all.

Best price to exchange THB to Crypto seems to be 2.5 % which is over the top.  Does anyone know where the

the best prices can be

to exchange?  Thanks all...

 

Forget Binance, , despite all the marketing that comes up on google that looks good, they cant do this...

[FreddieMercury]

Can you use KuCoin? Not sure what they are charging but any conversion is going to be pricey.

[scottiejohn]

I thought you crypto "nuts" were much more advanced than to ask a little forum like this for advice!

TROLL!

[Seeall]

28 minutes ago, scottiejohn said:

I thought you crypto "nuts" were much more advanced than to ask a little forum like this for advice!

TROLL!

some of us are not the nuts, thats the ones buying it and holding to get rich.. and the nutters think those nut are all.... some of us just want to send out crypto payment from THB.. simple.. so please dont talk down to us simple people..

[scottiejohn]

40 minutes ago, Seeall said:

some of us are not the nuts, thats the ones buying it and holding to get rich.. and the nutters think those nut are all.... some of us just want to send out crypto payment from THB.. simple.. so please dont talk down to us simple people..

I would have to be "nuts" to understand that "gobbledygook"

[Lemsta69]

2 hours ago, Seeall said:

Forget Binance, , despite all the marketing that comes up on google that looks good, they cant do this...

Don't blame Beyonce, blame the government regs. CZ would be only too happy to allow you to on/off ramp any fiat currency you like. My Binance account was created in Australia so naturally I'm stuck with AUD.

 

What about Zipmex Thailand, they let you onramp THB.

 

IIRC correctly their trading fee is about 0.2%.

[Lemsta69]

ps. only issue with Zipmex is liquidity, their order book isn't very big.

[Lemsta69]

2 hours ago, FreddieMercury said:

Can you use KuCoin? Not sure what they are charging but any conversion is going to be pricey.

KuCoin don't support THB on-ramp however their trading fees are not at all pricey. Their fee is 0.1%/0.1% maker/taker at the basic level (LV0).

[nglodnig]

i've got a new crypto currency it's called "send your money down the toilet" just send me HARD CASH and I will "invest" it for you.

[bradiston]

Bitkub. You can buy with THB from your bank account. Have to do full KYC.

[itsari]

1 hour ago, nglodnig said:

i've got a new crypto currency it's called "send your money down the toilet" just send me HARD CASH and I will "invest" it for you.

But what are the fees for your services ? 

[bluejets]

11 hours ago, Seeall said:

Hi all, seems like a simple question but I dont think I found the best answer if I may ask you all.

Forget this crypto <deleted> and just buy gold if you're worried about Thai baht or any other for that matter.

[arithai12]

what I did:

send THB from your bank to Bitkub

buy crypto

send crypto from Bitkub to Kraken

sell crypto on Kraken to whatever currency

send currency from Kraken to your destination bank using SWIFT

 

Obviously, you need first to open accounts on Bitkub and Kraken

(the two steps are required because Bitkub doesn't send currency to banks abroad)

 

Total commission was about 4% for a small amount, 2.5% for a large amount, your mileage may vary depending on which crypto and which banks you use.

From start to end, a few hours or next day, all done online.

 

Also note to those who write disparaging comments: this has nothing to do with investing in crypto. You buy and you sell within minutes, no change in value. Try to transfer large amounts of Baht to your own country without the proper accompanying documentation of their origin, and enjoy. I am not talking about illegal dealings. For example, I transferred substantial money from abroad to Bangkok Bank for a medical operation. In the end, I did not need that money, but it was impossible to send it back directly from the bank.

[bradiston]

33 minutes ago, arithai12 said:

what I did:

send THB from your bank to Bitkub

buy crypto

send crypto from Bitkub to Kraken

sell crypto on Kraken to whatever currency

send currency from Kraken to your destination bank using SWIFT

 

Obviously, you need first to open accounts on Bitkub and Kraken

(the two steps are required because Bitkub doesn't send currency to banks abroad)

 

Total commission was about 4% for a small amount, 2.5% for a large amount, your mileage may vary depending on which crypto and which banks you use.

From start to end, a few hours or next day, all done online.

 

Also note to those who write disparaging comments: this has nothing to do with investing in crypto. You buy and you sell within minutes, no change in value. Try to transfer large amounts of Baht to your own country without the proper accompanying documentation of their origin, and enjoy. I am not talking about illegal dealings. For example, I transferred substantial money from abroad to Bangkok Bank for a medical operation. In the end, I did not need that money, but it was impossible to send it back directly from the bank.

Nice comment. I recently transferred 247,247 THB from my KT bank here to my Wise $ account. Cost 699 THB. Then feeless $ to $ account in Europe. So total cost 699 THB, $20, to buy and send $7,150. Not sure how much a SWIFT transfer would have been. Maybe same. And a 100k THB transfer from bank to Bitkub is feeless. It just sits in my wallet until I withdraw it or have a flutter on coin.

[Freddy42OZ]

16 hours ago, Seeall said:

Hi all, seems like a simple question but I dont think I found the best answer if I may ask you all.

Best price to exchange THB to Crypto seems to be 2.5 % which is over the top.  Does anyone know where the

the best prices can be

to exchange?  Thanks all...

 

Forget Binance, , despite all the marketing that comes up on google that looks good, they cant do this...

You can either set up a BitKub account, link your Thai bank account and purchase crypto here, then transfer that crypto anywhere you want.   The choice of which crypto is upto you. 

Or use Binance.  I use Binance P2P, so I pay cash to someone in Thailand and they transfer the agreed crypto to my Binance account. 

Both ways are easy if you know what you are doing.

[Peterphuket]

5 hours ago, bluejets said:

Forget this crypto <deleted> and just buy gold if you're worried about Thai baht or any other for that matter.

It's a bit to late now.

[nglodnig]

9 hours ago, itsari said:

But what are the fees for your services ? 

competitive - very low

[itsari]

Just now, nglodnig said:

competitive - very low

Ok , good advice and save money for the man asking the question 

[itsari]

4 minutes ago, itsari said:

Ok , good advice and save money for the man asking the question 

You should work for Silicone Valley Bank

[ThailandRyan]

10 hours ago, nglodnig said:

i've got a new crypto currency it's called "send your money down the toilet" just send me HARD CASH and I will "invest" it for you.

Another crypto hater....is it because you missed the boat in getting in on the ground floor?

[nglodnig]

5 minutes ago, itsari said:

You should work for Silicone Valley Bank

I do - or at least I DID

[Lemsta69]

10 hours ago, bradiston said:

Have to do full KYC.

there's the rub...Bitkub wanted way too much info for KYC Tier 1 when I applied last year so I gave up and signed on with Zipmex TH instead. They just wanted the standard KYC1 docs, ID & address.

[itsari]

1 hour ago, nglodnig said:

I do - or at least I DID

I understand your employment prospects. 

Good luck , try  a Swiss bank for a position . 

[bradiston]

1 hour ago, Lemsta69 said:

there's the rub...Bitkub wanted way too much info for KYC Tier 1 when I applied last year so I gave up and signed on with Zipmex TH instead. They just wanted the standard KYC1 docs, ID & address.

Yeah, it was a real PITA signing up with them. I think it took me about 5 gos before I managed to suppress my rage long enough to get through. I think the last document I uploaded was a copy of my UK tax return.

[Jenkins9039]

On 3/24/2023 at 9:57 PM, Seeall said:

some of us are not the nuts, thats the ones buying it and holding to get rich.. and the nutters think those nut are all.... some of us just want to send out crypto payment from THB.. simple.. so please dont talk down to us simple people..

If you have THB and want Crypto to send out - do OTC.... or do via local conversion.

 

Dependent on amount i may be able to point you.

[Lemsta69]

On 3/24/2023 at 11:09 PM, Lemsta69 said:

ps. only issue with Zipmex is liquidity, their order book isn't very big.

Update, and a bit of CYA on my part:

 

The Thai venture capital firm that agreed to buy out Zipmex have just failed to make a down-payment of a few mil USD. So best to avoid them just in case they freeze withdrawals just as you're about to transfer your preciousss to cold storage.

[ubonr1971]

On 3/25/2023 at 6:04 AM, nglodnig said:

i've got a new crypto currency it's called "send your money down the toilet" just send me HARD CASH and I will "invest" it for you.

Ive made huge money with my btc and ethereum. Your comment is daft.

[Jenkins9039]

Did he ever find what he was looking for?

[bradiston]

1 hour ago, Jenkins9039 said:

Did he ever find what he was looking for?

You mean Bono? I think he's still out there somewhere.