A good alternative to Bitkub: UpBit thailand allows me to scan the chip in my passport and complete full verification.

[JohnnyBoy777]

I am also a 5 year loyal customer of BitKub, well guess what F... them then. As a retiree, I think I need to go get a fresh Residence permit, and then hopefully I am good to go. Thank you to everybody that contributed with info in this thread.

[ukrules]

There are different lists for Thais and Foreigners, when talking about foreigners it's talking about a national id card issued by your 'home' government.

 

Also on the list when I checked it a few days ago was a driving license.

 

I did contact support at one point and ask if they would accept a passport but they mentioned that the passport is already being used with the 'NFC' thing.

 

Now the only issue I have is that my driving license sits on a shelf in England and I don't have access to it at the moment so I can't do it.

 

I have a Thai driving license and an expired UK license so I'm going to leave this until some point in the future right now, I can get the license but it's at a relatives house and she's not being very cooperative lately.

 

[advancebooking]

8 hours ago, david2017 said:

On verfication I get:

If Residing in Thailand

Upload one of the following documents

• Household registration
• Work permit
• Non-Immigrant visa or Smart Visa

AND one of the following documents

• National Identification Card
• Driving License
• Thailand Resident permit
  
  Okay great, I have the work permit, But anything under AND I don't have. I don't have a national identifcation card because i'm clearly not Thai nor do I have a Thailand resident permit because I don't think such a thing even exists. Can the drivers license be my Australian drivers license or do they need a Thai one? If they do, I can't use upbit either. Bitkrub has essentially suspended me now because of this KYC update thing

If I were you I suggest not to use oz DL as it has your oz address. Residence permit is that 500 baht letter from immigration? Someone else can confirm maybe. Do you have a thai pink id card as the national id card?

[advancebooking]

1 hour ago, JohnnyBoy777 said:

I am also a 5 year loyal customer of BitKub, well guess what F... them then. As a retiree, I think I need to go get a fresh Residence permit, and then hopefully I am good to go. Thank you to everybody that contributed with info in this thread.

yes, Im sick and tired of Bitkub as well. Nightmare to deal with. Last chat I had with one of their so called chat workers they said to me very quickly 'is that all you have to ask me today'....

[Conno]

1 hour ago, advancebooking said:

yes, Im sick and tired of Bitkub as well. Nightmare to deal with. Last chat I had with one of their so called chat workers they said to me very quickly 'is that all you have to ask me today'....

Last communication I had with them was on my last KYC re-verification [early 2023] and as you say it was an absolute infuriating exercise in stress, frustration and seemingly incompetence too. I sent them a feedback review afterwards advising them that they were the worst financial organisation I have ever had the displeasure of dealing with. At that point in time the non-Thai KYC system was still operational, so I can't begin to imagine what they are like to deal with today. I noticed that yet again they have updated their notice related to this, now dated 1st Dec 2023. It is still stating that their non-Thai KYC verification system is 'temporarily' unavailable due to the system being upgraded. How long is this now? I believe it was originally announced 'Temporarily' unavailable in June/July time frame. Clearly this isn't the truth as it doesn't take 6 months to upgrade something like this. It appears to me they have decided to implement some form of covert policy to gradually remove non-Thai account holders through attrition. I'm wondering how that court case is progressing that another user on here mentioned. I believe it was in some way related to them discriminating against foreign account holders.  

 

Ironic isn't it. Crypto was originally created to free the individual from this kind of middle man counter-party control. In Bitkub's case they have managed to even surpass traditional finance in this regard. 

Edited December 21, 2023 by Conno

[JohnnyBoy777]

On 12/21/2023 at 3:29 PM, Conno said:

I haven't tried registering yet, probs early next year but from what AdvancedBooking has been saying I imagine the National Identification Card would be your Passport. As you say you are not Thai so why would you have one of those. illogical. I also don't believe your Oz driving license would be any good either as that is probably registered to an Oz address right? The info they need is to ID you in Thailand not your home country.

 

So, if I were you I'd just try uploading your Passport data/picture page along with all your current Visa stamp pages. Good chance those instructions are just losing something in translation. If you notice they also ask in the first section for non-immigrant visa or Smart Visa [whatever one of those is?] According to posts above a Thai Elite visa [Privilege] is also acceptable even though it isn't listed as an option. If you get rejected get back to them and explain your circumstances. Other non-Thai's who are resident in Thailand have been accepted so obviously it is possible.

I just got approved with a picture  of my visa + a picture of my European drivers license

[Conno]

3 hours ago, JohnnyBoy777 said:

I just got approved with a picture  of my visa + a picture of my European drivers license

That's good to hear. So they accepted a Euro driving license even though you have registered with them using a Thai address right? Interesting. 

[advancebooking]

3 hours ago, Conno said:

That's good to hear. So they accepted a Euro driving license even though you have registered with them using a Thai address right? Interesting. 

I get the impression that UpBit is much more friendly and accessible with regards to getting verified. 100% different from Bitkub which is a complete and utter sh&t show. 

[Conno]

4 hours ago, advancebooking said:

I get the impression that UpBit is much more friendly and accessible with regards to getting verified. 100% different from Bitkub which is a complete and utter sh&t show. 

Yip they have lost the plot it seems. I can see consequences for operating such a business model. Getting a bad rap on forums such as this is not a good way forward. 

Edited December 23, 2023 by Conno

[racket]

The challenge with UpBit and Bitazza arises from the notably low trading volumes on these platforms. Engaging in transactions might prove difficult due to a scarcity of buyers or sellers. Exercise caution, as the order books exhibit minimal activity. Although Bitkub boasts the highest trading volume, non-Thai residents are no longer eligible to register.

 

The rationale behind this restriction remains unclear, with no explicit justification provided. Speculation leads me to believe that Thai authorities seek to prevent foreigners from swiftly converting Thai Baht through crypto exchanges, potentially triggering a substantial devaluation of the baht.

 

Moreover, Thai banks may prefer retaining foreign deposits in their accounts rather than in crypto exchanges. This restriction may be a deliberate move, possibly tied to monopoly laws, fostering growth in alternative crypto exchanges.

[Conno]

 55555

 

[JohnnyBoy777]

On 12/23/2023 at 6:16 PM, Conno said:

That's good to hear. So they accepted a Euro driving license even though you have registered with them using a Thai address right? Interesting. 

 

YES

[advancebooking]

On 12/26/2023 at 12:12 PM, racket said:

The challenge with UpBit and Bitazza arises from the notably low trading volumes on these platforms. Engaging in transactions might prove difficult due to a scarcity of buyers or sellers. Exercise caution, as the order books exhibit minimal activity. Although Bitkub boasts the highest trading volume, non-Thai residents are no longer eligible to register.

 

The rationale behind this restriction remains unclear, with no explicit justification provided. Speculation leads me to believe that Thai authorities seek to prevent foreigners from swiftly converting Thai Baht through crypto exchanges, potentially triggering a substantial devaluation of the baht.

 

Moreover, Thai banks may prefer retaining foreign deposits in their accounts rather than in crypto exchanges. This restriction may be a deliberate move, possibly tied to monopoly laws, fostering growth in alternative crypto exchanges.

I agree with you. Especially the first paragraph. It took me a while to buy a ton of solana 4 to 5 weeks ago. Had to do it in small chunks at market price. But just got it before it pumped and now very happy. 

 

Apart from upbit what are the alternatives for offramp to thai bank acc now? I read on this thread binance but unsure. 

 

Surely in the coming years things will relax in this sector and in this country?

[Conno]

2 hours ago, advancebooking said:

I agree with you. Especially the first paragraph. It took me a while to buy a ton of solana 4 to 5 weeks ago. Had to do it in small chunks at market price. But just got it before it pumped and now very happy. 

 

Apart from upbit what are the alternatives for offramp to thai bank acc now? I read on this thread binance but unsure. 

 

Surely in the coming years things will relax in this sector and in this country?

 

AdvancedBooking - Gulf Binance not the standard Binance and it appears it has already launched which is absolutely fantastic news. 

 

Initially the reports that were coming out were casting a bit of a shadow over the venture - https://klse.i3investor.com/web/blog/detail/ceomorningbrief/2023-11-30-story-h-213415622-Binance_8217_s_Reboot_Faces_Test_in_Thailand_After_US_4_3b_US_Fine

 

The first reports were also stating it would be initially invite only until 2024 but check this out.....I think we have not just an alternative but a fantastic alternative to solve liquidity issues. I haven't attempted registering yet but will be very soon in the NY, so have no idea how easy it will be. I think we can all safely say it will be an easier company to have a relationship with than YOU KNOW WHO lol. 

 

https://www.binance.th/en

[Celsius]

Another advantage being married. Bitkub works just fine..

 

 

[Conno]

Mine works just fine too and I'm not married either....but clearly this isn't the case for many recently which is the whole point of this thread. Lets see what happens on your next KYC update. You may be fine or.......

[advancebooking]

11 hours ago, Celsius said:

Another advantage being married. Bitkub works just fine..

 

 

Before you get too confident try tapping on the market tab at the bottom and then go right and tap on trade and then wallet and then setting and then go back the other way. When I did this the message was displayed about my account being suspended. Or go to the kyc level page and try to go to the next level. You might get that message. 

[advancebooking]

12 hours ago, Conno said:

 

AdvancedBooking - Gulf Binance not the standard Binance and it appears it has already launched which is absolutely fantastic news. 

 

Initially the reports that were coming out were casting a bit of a shadow over the venture - https://klse.i3investor.com/web/blog/detail/ceomorningbrief/2023-11-30-story-h-213415622-Binance_8217_s_Reboot_Faces_Test_in_Thailand_After_US_4_3b_US_Fine

 

The first reports were also stating it would be initially invite only until 2024 but check this out.....I think we have not just an alternative but a fantastic alternative to solve liquidity issues. I haven't attempted registering yet but will be very soon in the NY, so have no idea how easy it will be. I think we can all safely say it will be an easier company to have a relationship with than YOU KNOW WHO lol. 

 

https://www.binance.th/en

I just tried to register at the first page and it was asking for an invitation code. Had to join the invitation list

[Digitalbanana]

On 11/15/2023 at 11:14 AM, advancebooking said:

so why not register at UpBit???? Vote with your feet.

Because just like other Thai crypto exchanges they will just kick you out in time to come (I have been with Bx and then Bitkub since 2016). Voted with my feet and only trade overseas now.

[advancebooking]

2 hours ago, Digitalbanana said:

Because just like other Thai crypto exchanges they will just kick you out in time to come (I have been with Bx and then Bitkub since 2016). Voted with my feet and only trade overseas now.

Duh, Read above please. Upbit have good technology. You can get verified using dip and chip method on your passport. Bitkub havent upgraded their systems for foreign passports to do this.  Upbit will not be following the same route as bitkub. I got verified very quickly one month ago. Can off ramp to thai bank account

[Conno]

8 hours ago, advancebooking said:

I just tried to register at the first page and it was asking for an invitation code. Had to join the invitation list

 

Aha right, thx for updating us on that.....so the by invite only statements in the press releases were correct. The same press releases also said they would be open to general applications early in the New Year. 

[Dogmatix]

On 12/1/2023 at 5:57 PM, freedomnow said:

In Thailand using upbit do you have to pay tax on trading ?

 

Is this changing if no in 2024+

 

Gains from onshore crypto trading in Thailand are taxable for Thai tax residents (those who spend more than 180 days a calendar year in the LOS) unless your total onshore income is under the threshold which is 150k plus basis allowance of 60k and any other allowances you may have for kids, aged parents, life insurance, being over 65 (190k).  Any income earned offshore after 1 Jan 2024 from any source and remitted to Thailand is also taxable.

[Mike Lister]

On 12/1/2023 at 5:57 PM, freedomnow said:

In Thailand using upbit do you have to pay tax on trading ?

 

Is this changing if no in 2024+

CRYPTO

 

50) Crypto transactions inside Thailand are subject to PIT on the gain amount, crypto transactions outside Thailand are charged on the amount brought into Thailand, when it is imported.

 

https://sherrings.com/cryptocurrency-income-personal-tax-thailand.html

 

 

 

[freedomnow]

Such a PITA now with this stuff...Thailand should be a hub for super low crypto profits if they want people to take up their price-ier long-stay visas..

 

Malaysia and Singapore are streets ahead of them I believe.

[MasterBaker]

Well, after trying Bitkub, Binance TH and other shady local exchange, Upbit was a breeze to open account, customer service was English speaking, required Visa page, NFC scan and selfie. They called and ask few questions regarding last arrival stamp and in 24 hours i got Level 2. Level 3 required adding account (KBANK in my case) and it took 3 days, had to put some cash there and update bank book.

 

I opened separate account for this, just in case...

 

I only use it to buy USDT and move it to Bybit wallet. I don't mess with Bybit P2P USDT purchases, Many people complain about accounts being blocked. Just looking at P2P sellers names, they all Ukr$$$$$ns selling your aid money on margin.

 

Process straight forward and much cheaper than buying USDT on THB on Bybit, their Web 3 wallet is good enough for deposits from UpBit.

 

Best thing, no profit in Thailand, no taxes

 

Cheers and good luck!

[Conno]

On 6/19/2024 at 2:02 PM, MasterBaker said:

Well, after trying Bitkub, Binance TH and other shady local exchange, Upbit was a breeze to open account, customer service was English speaking, required Visa page, NFC scan and selfie. They called and ask few questions regarding last arrival stamp and in 24 hours i got Level 2. Level 3 required adding account (KBANK in my case) and it took 3 days, had to put some cash there and update bank book.

 

I opened separate account for this, just in case...

 

I only use it to buy USDT and move it to Bybit wallet. I don't mess with Bybit P2P USDT purchases, Many people complain about accounts being blocked. Just looking at P2P sellers names, they all Ukr$$$$$ns selling your aid money on margin.

 

Process straight forward and much cheaper than buying USDT on THB on Bybit, their Web 3 wallet is good enough for deposits from UpBit.

 

Best thing, no profit in Thailand, no taxes

 

Cheers and good luck!

You know you shouldn't have said that, now look what you have caused ha ha ha.

 

Can't post the link as not allowed, but go to that well known BK publication and search for the following.

 

-----------------------

Navigating new foreign income rules

The Revenue Department is studying adoption of the principle of worldwide income.

--------------------

 

Talk about shooting yourself in the foot. Lets see how this plays out.

 

Edited June 27 by Conno