The demand for bitcoin is steadily increasing and Vietnamese investors are increasingly interested in this digital currency. So more and more people are wondering: “How to buy bitcoin in Vietnam?”. After a short research, it turns out that this is not even as easy as it is in many other countries. In neighboring Austria, cryptocurrencies are much more widespread than in Vietnam, where the undisputed currency is seen as an alternative to the euro and other real currencies. However, buying BTC in Vietnam is not impossible, as can be seen on closer inspection. The possibilities of filling a Bitcoin Wallet are not very diverse, we will show you all the ways below.
Buy bitcoin in Vietnam: here’s how it works
Unfortunately, it is not yet possible to buy Bitcoin offline in Vietnam. In this sense, for example, Austria is more than just a step forward. Here, Bitcoins can be purchased at gas stations and special points of sale in the form of vouchers. These must be redeemed only on the supplier’s website so that the funds can be credited to the buyer’s digital wallet. On the other hand, buying bitcoin in Vietnam is only possible through the internet. Therefore, stakeholders need to search all the alternatives online and compare them to find the right investment for them. You have the following options:
At Bitcoin market buy in Vietnam
Investors often choose to invest in cryptocurrencies because of Bitcoin’s anonymity. For example, they want to prevent outsiders from understanding transactions, and Bitcoin provides the ideal platform for that. The reasons investors value anonymity are insignificant when buying Bitcoin. In Vietnam, for example, a Bitcoin market is available. In addition to some Vietnamese-speaking vendors, there are also many international platforms that allow you to buy and sell bitcoins. For example, Bitcoin.de is one of the most famous providers in the country. In the market, there is strong daily trading among users. So the function of a market has been explained approx. Buyers are in direct contact with sellers without brokers. Price is determined by supply and demand. Buyers have the opportunity to resell their bitcoins later in the market. This requires a Bitcoin Wallet, a digital wallet. This stores all bitcoins owned by the investor. Owning multiple portfolios is as possible as registering in different Bitcoin markets.
Trading bitcoin on a market is related to other currencies, but this is not necessarily the euro. In addition, selling in other currencies is possible, and current prices are published in the market. Therefore, both parties can decide whether to negotiate under these conditions. When the transaction starts, a transfer of funds to the seller’s account occurs, in return, the bitcoins are transferred to the buyer’s wallet.
When trading in a market, there may be a fee. Users should inform themselves in advance and compare different providers. As a result, they can save a lot of money later on in some cases.
Buy Bitcoin on Vietnam Stock Exchange
Capability is an alternative to trading within a market, but often the two are confused. Here, the exchange acts as an intermediary, the buyer and seller are not in direct contact. This is the case only with the Bitcoin market. Transactions happen automatically when classic payment currencies like euros and US dollars are used. Which exactly depends on the supplier. CEX.IO is one of the most famous Bitcoin exchanges. Buyers and sellers who want to trade on a stock exchange must provide different information. Buyers should state in this context the price at which they are willing to buy bitcoin. On the other hand, providers must specify the amount of bitcoins they want to send and set the desired price. Exchange compares individual offers and deals on behalf of clients, if two are found. For buyers and sellers, this has the advantage that they don’t have to manually search each other’s offers to find the right trading partner. S. To buy Bitcoin in Vietnam, the money must first be paid into the user’s account on the stock exchange. To this end, providers often offer a number of ways available, usually while credit card deposits are offered.
Buy and sell bitcoins directly
As the number of Bitcoin holders is constantly increasing, a direct transaction between the two owners is also possible. On sites like bitcoin-treff.de, you can meet other Bitcoin holders and contact them for trading purposes. Who knows, maybe a Bitcoin owner lives nearby? Buying Bitcoins in Vietnam on this variant is also completely anonymous as there is no need to substitute real names or addresses. Only transactions are made without anyone knowing who the other person is. Note that this form of purchase is not regulated, so there is no way to intervene in the event of a problem. Therefore, it is not possible to track payments in fraudulent actions.
Buying and selling Bitcoin directly also requires a Bitcoin Wallet. After the buyer has received payment – several types are also offered – the bitcoins are transferred directly to the digital wallet.
Buy bitcoin as CFD
All the options mentioned above require possession of a Bitcoin Wallet, into which the purchased coins are transferred. Thus, the buyer has direct ownership of the currency and can later resell it or use it as a means of payment for goods and services. However, anyone who thinks this is the only way to buy bitcoin in Vietnam is wrong.
There are also variations that do not include direct currency redemption. Therefore, investors do not need a Bitcoin Portfolio. CFDs have proven to be a popular choice in this regard, offering investors the opportunity to benefit from Bitcoin’s rising and falling prices. This form of investment is also suitable for newbies with low capital, as it is not necessary to apply bitcoin value to the transaction. Instead, it is a leveraged financial product, so the investor first borrows from a Bitcoin broker to get the total required for the trade. He himself only paid a small part for it. On the one hand, this leads to the advantage of high returns with relatively little use – on the other hand, the losses can often exceed the invested capital. CFD is therefore
Before investors choose a CFD broker, they must compare different platforms thoroughly. In principle, trading is possible for all brokers that offer cryptocurrencies, although in some cases they differ significantly in the rates, maturities or leverage offered. If you want to filter the right offer, you should definitely take advantage of this time.
Buy bitcoin certificate
As an alternative to CFDs, where investors also do not own the currency, certificates apply. The so-called certificates of participation reflect the evolution of stock prices, i.e. they are derivatives. Anyone who wants to invest in certificates must develop a strategy for this. Investments are considered risky, which is why thoughtless actions can quickly lead to losses, so consider Bitcoin trading tips. In addition, investors must make a deposit with a provider, which allows them to purchase a certificate of participation on a stock exchange.
Payment method when buying BTC in Vietnam
Those looking for opportunities to buy Bitcoin in Vietnam will certainly compare the payment methods offered on each platform. Since not everyone has a credit card, for example, other investors use it exclusively for payment purposes. Still others make all transactions through online payment services. Therefore, comparing payment methods can be considered quite useful. Among the most popular methods that providers offer, include direct debit, bank transfer, credit card, Giropay, Neteller, Sofortüberweisung, PayPal, AstroPay or Paysafe, Paysafecard.
Buying bitcoin has always been very similar in terms of processes, regardless of the form of payment chosen by investors. The following steps must be performed:
Open Bitcoin wallet
A digital wallet is a basic requirement for Bitcoin trade. Therefore, you must open a Bitcoin account before looking for a suitable platform. For a Bitcoin portfolio that has both online and offline solutions, many investors prefer to combine both offers to achieve the highest possible security for their Bitcoins. The best individual solutions for investors can only be found by comparing individual offers. The same portfolio can be used to trade on multiple platforms, so there is no disadvantage for the investor. At the same time, of course, it’s easy to put multiple wallets on one platform.
Find the right platform
If you want to find the right provider after creating a Bitcoin digital wallet, you will find it in Vietnam and abroad. Basically, it makes no difference where to trade, but investors should get all the information about the platforms before signing up. Reputable suppliers are regulated by government agencies and must meet certain and other safety requirements. Especially the security aspect should not be overlooked, how many websites also become platforms to transact with Bitcoin from time to time, victims of hacking attacks. In addition, investors should read the opinions of other users to get an impression from the provider.
The final step is to login to the platform. This is usually fast, but some providers ask for personal information to prevent phishing attempts. To verify the account, different ways are provided. Users have to be careful that they don’t need to reveal much here, otherwise the anonymity aspect is quickly lost. After successful registration, investors can deposit and buy Bitcoin in Vietnam to fill their own portfolio.
However, the path described only applies to live bitcoin negotiation. If investors decide to trade bitcoin through CFDs or Certificates, simply create an account with a broker. Additional registration in the case of a portfolio is not required as investors do not directly own the digital currency.
How to buy Bitcoin in Vietnam?
The possibility of buying BTC in Vietnam has so far been described in several ways. But investors remained skeptical and wondered if the purchase was worth it. To clarify this, we look at the evolution that cryptocurrencies have had in recent months and years. For example, in 2015, it was still possible to buy Bitcoin for 200 euros. Anyone who realized the potential of digital currencies at that time – or even earlier – would soon be satisfied with a massive increase in value. Just two years later, the value of a coin has increased to 7,000 euros. At this point, the question of whether an investment is still valid is reasonable. Of course, this continued price increase must eventually come to an end. But right now, it seems, experts predict that the value may soon exceed 10 points. 000 euros. However, downside risk is always presented to anyone interested in investing, so you must address the subject in detail so that you can weigh all the advantages and disadvantages.
With some less optimistic experts predicting that a bubble will burst soon rather than a five-digit figure, it pays investors to keep a close eye on the market. Tracking the course and news that may affect you can help you find a good time to sell or buy your bitcoins.
Although the statements of experts, of course, should be heard, it is up to the investor whether he wants to invest in Bitcoin or not. He has to compare the benefits with the disadvantages and then decide if he wants to accept the risk. The obvious advantages are:
Bitcoins can be downloaded worldwide without exorbitant fees. As a result, invoices for goods or services can be settled simply. For tourists, for example, this is an interesting alternative to traditional currency exchange. Make anonymous payments. Many people fear that, especially on the Internet, all their steps can be traced. Bitcoin offers an alternative of being anonymous. Outsiders cannot see who paid. Even trading partners are still not recognized.
Invest with high returns. This requires investors to invest enough time in their investments and keep an eye on prices. If this continues to increase, you have a good chance of making a profit.
Bitcoin as an investment: some tips
Bitcoin as an investment is anything but a runner. If you just buy currency and expect it to increase in value on its own, you run the risk. Therefore, investors should tackle the topic in detail to get an overview of the market. As you know, supply and demand control the bitcoin price. The demand for the currency is very high right now, that’s why the price continues to rise. However, if there is a sudden event that reduces demand, investors should act promptly. Selling money in time can protect them from big losses. Similarly, those interested in making a purchase may find the timing favorable for this venture. Also, investors should invest enough time to compare platforms to work with the best possible variation.
There is always a risk, no matter how bitcoin purchases are made in Vietnam. Effective risk management is very important to avoid losing all your invested money at once. This may be the case, for example, if all capital has been invested in one investment. The risk must always be contagious. In the case of digital currencies, this does not mean investing in Bitcoin competitors at the same time. The past has shown that the price developments of competitors are closely linked and, in particular, industry leader price cuts can have a noticeable impact on the prices of small competitors. than today.
Those who do not have time to follow prices and business news should find other ways to invest. Bitcoins are considered to be very sensitive to market changes, so they can quickly lead to changes in the price process. People who react too late here can lose a lot of money. On the other hand, if you do a thorough analysis and act on an effective strategy (such as dropping bitcoin), you are more likely to succeed.