Introduction
In all the years since Bitcoin was launched in 2009, trading crypto has become relatively easier, but questions remain on how to choose a crypto exchange, which crypto product to buy, or how to choose a crypto amongst the thousands of cryptocurrencies today. If you’re from Vietnam, and wondering how to buy crypto in Vietnam, this post is for you.
In this post, we have tried to make the process of buying crypto easier for you by exploring the various steps in ‘how to buy crypto in Vietnam?’. Vietnam is one of the fastest-growing countries in Southeast Asia, becoming an economic powerhouse with time. Read ahead to find out the answer to ‘how to buy crypto in Vietnam?’!
How to Buy Crypto in Vietnam: Crypto Regulations in Vietnam
Cryptocurrency as a mode of payment is yet to be recognized officially in Vietnam. But that doesn’t mean crypto is falling behind in the country in terms of popularity. With the country growing fast on the economic front, Vietnam’s citizens are aspirational and ready to experiment with the latest technologies. Among its many benefits, crypto offers a better method for non-resident Vietnamese to remit money home.
Vietnam has been open to formulating a regulatory policy for crypto, with Vietnamese leaders openly supporting cryptocurrencies. This will likely help increase the adoption of cryptocurrency in Vietnam and provide an encouraging space for web3 projects to prosper. Several reputed web3 firms have emerged from Vietnam, the most popular being the web3 game Axie Infinity. Its success has shown the way ahead for other web3 projects to incorporate in Vietnam.
How to Buy Crypto in Vietnam?
There are several ways to buy cryptocurrency in Vietnam. We will explore each of those methods and try to explain them in detail.
Crypto Exchanges
Crypto exchanges are one of the most popular online platforms to buy and trade crypto easily. You can also trade other digital assets, such as non-fungible tokens, through crypto exchanges if the exchange hosts such a marketplace.
Crypto exchanges usually list all the well-recognized cryptos available today on their platforms. They also enable you to convert your fiat money into crypto or use it to trade with other cryptocurrencies.
If you are wondering ‘how to buy crypto in Vietnam?’, Millionero can be a good exchange platform for you to start with. With an easy to use interface and an exciting referrals program, Millionero is one of the most exciting crypto exchanges at the moment.
Here are the steps to achieve financial freedom through crypto trading on Millionero in Vietnam:
1. You must first register on Millionero to start trading crypto on the platform. You do that through its website’s registration page, where you must enter your email address, a new password, and a referral code (if you have any). Once the details are entered, click on ‘Register.’ Yes, The sign-up process is that simple in Millionero.
2. Once you have registered successfully, you will be redirected to your dashboard, where your profile credentials will be listed. On the top of the screen, you will be able to select the kind of crypto trade you want, crypto spot trading or perpetual-based crypto derivatives trading.
3. Millionero offers a very easy way to do crypto spot trading. Head to the spot trading page from your dashboard, and you’ll notice the order page. First, select the crypto pair you want to buy, and set the transaction to market order or limit order. Enter the order value of the crypto and click on BUY. You just made your first crypto trade on Millionero!
4. You can also try Millionero’s Perpetual MAX feature if you are trying out a crypto perpetuals trade, where you can use a leverage of up to 100x on your initial investment. This gives you a chance to earn exponentially. Go to the perpetual trade area from your dashboard, enter the required details, and make the trade. You can also set any crypto of your choice as collateral and go long on it while trading other cryptos!
Crypto Brokerages
Crypto brokerages operate differently from cryptocurrency exchanges since they trade your cryptos and digital assets on the dealer network on an over-the-counter (OTC) market. To utilize large crypto reserves for liquidity, crypto brokerages also work with buyers and sellers with sizable crypto stakes. Crypto brokerages are often appropriate for experienced crypto investors and traders with big crypto holdings. You can, thus, also use crypto brokerages, if you are wondering ‘how to buy crypto in Vietnam?’
Crypto ETFs
Have you ever heard of exchange-traded funds (ETFs) in the equity markets? Crypto ETFs work on the same theory. Crypto ETFs track the movement of a group of cryptos, or blockchain companies and companies with exposure to crypto and blockchain technologies. You can invest in such crypto ETFs in Vietnam if you’re a beginner or don’t have the time to research specific cryptos and companies.
Crypto Mutual Funds
Crypto mutual funds are managed by professional fund managers who invest the corpus of the mutual fund in a group of cryptocurrencies or assets linked to crypto. This way, you can contribute to the fund and indirectly invest in cryptos. This product is suitable for beginners who are wondering ‘how to buy crypto in Vietnam?’
Conclusion: How to Buy Crypto in Vietnam
With increasing clarity on crypto regulations and an encouraging environment for crypto firms, Vietnam can emerge as a top crypto hub in the future. We hope this blog has answered your question of ‘how to buy crypto in Vietnam?’. We wish you good luck on your crypto trading journey, and we hope your first taste of true financial freedom is as savory as you imagine!
Sign up on Millionero and get started with crypto trading today on our official website! Further, you can connect with us on Instagram, Twitter, LinkedIn, and Facebook for queries and updates!