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How to Buy Bitcoin in Cambodia
There are many ways to buy bitcoin in Cambodia. Most of these methods require you to meet in person with the seller and exchange cash. Some local exchangers will accept money transfer services such as Wing and Truemoney.
CryptoAsia has compiled a list of reputable options (below) with a brief description of each.
1. Local Bitcoins
Localbitcoins.com is used internationally to match bitcoin buyers and sellers. Based in Finland, the company has been in operation since 2012 and has a well-deserved reputation for being reliable.
Generally speaking, bitcoin users should keep their bitcoins on a device that they directly control with their keys backed up to an external storage device. 3rd party wallets have a history of being hacked or suspending user access. However, Local Bitcoins offers one of the most reliable online wallets available. And their escrow system might be the best among online exchange services.
Opening an account is quick and easy. Browse the listings in Cambodia and open a trade with a local exchanger. The chat feature makes it easy to discuss details with the counter-party and the escrow system ensures that he has bitcoins to sell. Make sure to review the trader feedback before entering into a trade and leave feedback about your experience after the trade is done.
2. Local Cryptos
Localcryptos.com is gaining steam as an effective way to buy and sell bitcoin, formerly known as localethereum.com.
Local Ethereum was an exciting startup devoted to Ethereum trades. They have grown as a business and transitioned their business model. Adopting a new name, the Local Cryptos platform offers trading in a large selection of digital currencies.
3. Buy Bitcoin at Coin Cafe & Bar
Coin Cafe & Bar is the first and only restaurant in Cambodia to accept bitcoin. Bring your smart phone and your appetite and make payments directly to their bitcoin address.
Coin Cafe & Bar is a good source to sell and buy Bitcoin in Cambodia. If you want to make a trade then call or email them first before you go. The phone number is 092.664.557.
4. Bitcoin.com Local Exchange Service
Most local peer-to-peer exchange services require identification to open an account. This is not necessarily the case with the service offered by bitcoin.com.
Local.bitcoin.com is growing rapidly these days, and you can even find some Cambodian traders. It will likely become one of the most used exchange services as traders migrate away from platforms with registration headaches.
Bitcoincambodia.com may qualify as the oldest bitcoin exchange platform in Cambodia. The operator of this exchange lives in Sihanoukville, but exchanges can be made from anywhere inside of Cambodia.
The exchange fee is always competitive, usually less than 4.5%. Additionally, exchanges in smaller amounts are accepted. A bank account is not required. We highly recommend the services of bitcoincambodia.com.
6. Facebook Group
The biggest bitcoin Facebook group in Cambodia has about 900 members, but many of them are active bitcoin buyers and sellers. Although you won’t have the escrow protection offered by a professional exchange service, most of the traders here rely on their reputation in this small community. Request membership from the group moderators and post a request on the message board.
7. Online International Exchange
The most reliable way to sell or buy bitcoin in Cambodia is to open an account with an international digital currency exchange.
There are many reputable online exchanges based outside of Cambodia. Unlike the peer-to-peer options listed above, these exchanges will require government issued identification to open an account and, most likely, a bank account to fund it.
CryptoAsia cannot recommend any single exchange but there are many good resources online to begin your research (see here, here, and here). We may review the many options for online exchanges at a later date.
If you need to convert between digital currencies, a good option is Changelly.
Do you know a better way to trade bitcoin in Cambodia? Drop us a line or leave a comment below.