Many people know Binance cryptocurrency exchange as the largest exchange in the World for buying bitcoin, altcoin, nft and other cryptocurrency.This means that Binace exchange processes the most volume of crypto trades on a daily basis.
Previously, Binance operated a cryptocurrency exchange in Thailand but were required to close by the Thai SEC when new regulations for trading cryptocurrencies came into effect in 2021.Since this time, Binance has been looking for ways to get back into the booming Thailand cryptocurrency trading business. And, it seems like they have found a way.
A joint venture with locally based Gulf Energy Thailand has opened the door for Binance to set up a compliant and regulated cryptocurrency exchange in Thailand. So, get ready for Binance Thailand.
Although exact details are not available yet, Binance Thailand will be bound by the same rules as set out by the Thai SEC, so the procedure will likely be as follows. We will provide a more comprehensive guide shortly, but for now this is the Beginners Guide to joining Binance Thailand.
Firstly, you will navigate to Binance Thailand and open an account. Note that Binance Thailand will be different from the main Binance site and reside at a different web address. Next, you will need to verify an email. Following this, there will be some required steps to verify your identity, provide some documentation, upload a photo of your passport and a selfie. At this point, it is not clear if Binance Thaiand will be available for use by residents of the United States. It most likely will not be.
As per the rules for financial investments, you will also need to answer a few questions to assess your financial suitability.
And, that really should be about it. After completing these simple steps you will have opened an account with Binance Thailand and even if you are a beginner, you will now be ready to trade Bitcoin, altcoins and NFTs.
You will need to link your Binance Thailand trading account to a local thai bank account so that you can deposit and withdraw funds in the form of Thai Baht.
Although Thailand already has several good cryptocurrency exchanges to choose from, this move will be exciting to anybody involved in cryptocurrency trading. One can expect, that given the large amount of resources available to Binance, that this exchange will quickly be the favorite among many users. With a large user base comes larger trader volumes and better liquidity for users. We may also see access to new cryptocurrency tokens that cannot currently be bought in Thailand become available for trading.
Be sure to check back often, as we will update as more details become available about joining Binance Thailand for cryptocurrency beginners.
