bx.in.th Review 2019
Based in Bangkok, Thailand, BX.in.th is a cryptocurrency exchange that was established in 2013. The exchange is owned by a company called Bitcoin Co. Ltd whose head office is located at 43/1031 Ramintra Street, Bang Khen, Bangkok. The exchange specializes in providing crypto trading services for those who wish to trade Bitcoin and other cryptocurrencies against the Thai Baht.
- Deposit and Withdrawal Options
- Fees and Charges
- Privacy and Security
- Customer Support
- Pros and Cons
There are 2 ways which you can trade cryptocurrencies on the BX.in.th exchange. The first way is through the web based order book. Simply enter the amount that you want to spend in Thai Baht for your BTC purchase. Next, specify the type of order, which are Limit order or Order Type. With limit order, you will specify the price that you want to buy at. With Order type, the transaction will be executed at the current market price. The field labeled “BTC you receive” will indicate the amount of BTC that you will get when your order goes through.
The method of trading cryptocurrencies on the BX.in.th exchange is through the TradeView platform. The TradeView platform offers more details about all the various cryptocurrency pairs that are available for trading. One of the main attractions of the BX.in.th exchange is the fact that the exchange offers a wide selection of cryptocurrencies for trading. The list below shows the list of cryptocurrencies that are supported on the exchange.
Deposit and Withdrawal Options
In terms of deposit options, the exchange accepts cryptocurrencies deposits as well as Thai baht deposits. For Thai baht deposits, this is done through bank transfer or over the counter transfer. To initiate a cash deposit, simply log into your BX.in.th account and select the option “My Funds » Deposit”.
Next, enter the amount to be deposited as well as the bank to deposit to. Take note that as a security measure, the BX.in.th system will specify the exact amount to deposit which may differ slightly from the amount that you entered. This is to enable the exchange to differentiate where the deposit is coming from as the amount deposited is unique to a specific account. The last step of the deposit procedure is to mark the deposit as being completed.
For withdrawals, you also have the option of cryptocurrency withdrawals or bank withdrawals. As with deposits with Thai baht, withdrawals in fiat currency are limited to Thai baht.
Fees and Charges
BX.in.th charges a standard trading fee of 0.25% on each trade. The fee is always in the primary currency of the trading pair and is automatically deducted when the trade is executed.
As for the deposit fee, most deposits are free except for ZEC. For this altcoin when you deposit less than the minimum amount of 0.05000000 ZEC, you will be charged a deposit fee of 0.00050000 ZEC.
For withdrawals, the following fees are applicable:
|Currency||Standard Withdrawal Fee||Preferred Trader Fee*|
|THB||20.00 THB + 10.00 THB per 10,000.00 THB|
|BCH||0.00010000 BCH||0.00000000 BCH|
|BTC||0.00050000 BTC||0.00000000 BTC|
|DAS||0.00500000 DAS||0.00000000 DAS|
|DOG||5.00000000 DOG||0.00000000 DOG|
|ETH||0.00500000 ETH||0.00000000 ETH|
|EVX||0.0100 EVX||0.0000 EVX|
|FTC||0.01000000 FTC||0.00000000 FTC|
|GNO||0.01000000 GNO||0.00000000 GNO|
|HYP||0.01000000 HYP||0.00000000 HYP|
|LTC||0.00500000 LTC||0.00000000 LTC|
|NMC||0.01000000 NMC||0.00000000 NMC|
|OMG||0.20000000 OMG||0.00000000 OMG|
|PND||2.00000000 PND||0.00000000 PND|
|POW||0.010000 POW||0.000000 POW|
|PPC||0.02000000 PPC||0.00000000 PPC|
|QRK||0.01000000 QRK||0.00000000 QRK|
|REP||0.01000000 REP||0.00000000 REP|
|XCN||0.01000000 XCN||0.00000000 XCN|
|XPM||0.02000000 XPM||0.00000000 XPM|
|XPY||0.00500000 XPY||0.00000000 XPY|
|XRP||0.010000 XRP||0.000000 XRP|
|XZC||0.00500000 XZC||0.00000000 XZC|
|ZEC||0.00100000 ZEC||0.00000000 ZEC|
Privacy and Security
At Bx.in.th, there are specific requirements for an account to be verified unless fiat currency transactions are involved. If you plan to fund or withdraw Thai baht, then you will be required to verify your account.
In terms of the security at the exchange, Bx.in.th takes the issue seriously and has installed several measures to ensure the integrity of the exchange. Some of these measures included the following:
- 90% of the funds are stored in cold storage
- All computer codes are developed in-house.
- All large withdrawals are manually processed
- Physical access to wallet servers are granted only to the exchange owners
- The exchange also maintains a full reserve. This meant all the deposited funds are never utilized for any other purposes except for the account holder investment activities.
- The website front end has not direct access to the wallet servers.
- The website frontend and wallet servers are distinct and different.
- Wallet severs are fully encrypted with no incoming external connections.
On the client side, the exchange offers 2-factor authentication.
For customer support, Bx.in.th offers a FAQ, support ticket and telephone support. It should be noted that for telephone support, the hours are from 8:00am to 22:00 pm.
Pros and Cons
- Easy Verification process
- Secured Exchange
- User Friendly Interface
- Wide selection of cryptocurrencies
- Only accept Thai Baht and cryptocurrencies deposits
How long do I have to wait before I can utilize the funds I deposited?
All Thai Baht deposits are approved automatically within 15 minutes of submitting the bank in slip to the exchange.
How long is the withdrawal process?
The typical processing time for a withdrawal made in Thai Baht is 24 hours. For cryptocurrency withdrawals, they may take up to 12 hours for large withdrawals as the funds have to be retrieved from cold storage.
Do you charge deposit fees?
No, we do not charge deposit fee except for ZEC deposit which must meet a minimum deposit requirement.
What is 2FA or 2 Factor Authentication?
2FA is a form of security where you are require to key in a 6 digit code each time you login to your account. A new code is generated every 30 seconds to prevent any hacker from using your old code.
Bx.In.th is the first cryptocurrency exchange that was established in Thailand. Since its inception in 2013, it has improved on its services to provide cryptocurrency investors in Thailand with one of the most crypto exchange. The parent company of the exchange Bitcoin Co. Ltd has pledged to stand behind the exchange and has offered to cover all losses with its own assets should ever the funds gets stolen from the exchange.
- Bitcoin Cash