https://ift.tt/SfWPp7s To Buy Bitcoin in Mongolia?

How To Buy Bitcoin in Mongolia?

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Easiest and cheapest ways to buy crypto in Mongolia

Getting bitcoins in Mongolia is not an easy task as not all popular crypto exchanges are available to Mongolian citizens. This is a current list of bitcoin exchanges that allow users from Mongolia to buy crypto. They all support buying crypto with credit/debit cards but some of them offer other payment methods as well.

Established & high liquidity

How To Buy Bitcoin in Mongolia?

Binance

👛 Ease of Use – Medium
👛 Fees – Low
👛 Verification – 1 Day
👛 Reputation – Trusted
👛 Supported fiat – USD, EUR, GBP, AUD, RUB

Over 30 million users worldwide and more than $15 billion in daily trading volume make Binance the world’s largest centralized cryptocurrencies exchange. Originally from Hong Kong and now from the small European island of Malta, this exchange was founded in July 2017, and it quickly became the most used exchange on the market. Binance is supported in 60+ countries (excluding the U.S).

More info +

On Binance, you can buy, sell, and trade a large number of cryptos with low fees. Two Factor Authentication, cold storage, and multi-sig wallets provide Binance users excellent security. It is considered one of the most secure cryptocurrencies exchange in the crypto sphere. Binance supports spot trading, margin trading, P2P trading, futures, earn (locked savings, fixed savings, yield farming, and DeFi staking), mining, and staking pools. You can trade more than 350 cryptos and over 1300 trading pairs.

⚡ Deposit fees:
Free
⚡ Withdrawal fees:
Vary from crypto to crypto
⚡ Trading fees:
0.1%
⚡ Payment Methods:
Debit Card, Credit Card, SWIFT, Bank Transfer (SEPA), and more
⚡ Supported fiat:
USD, EUR, GBP, AUD, RUB, and 15+ more

  Low fees
  High liquidity
  Lite and Pro version
350+ cryptos and 20+ fiat currencies

Not accessible to U.S. users
Hacked in 2019

Regulated & high liquidity

coinbase

Coinbase

👛 Ease of Use – Easy
👛 Fees – Average
👛 Verification – 1 Day
👛 Reputation – Trusted
👛 Supported fiat – EUR, USD, and 50+ more

If we want to mention the biggest cryptocurrency exchanges in the world, Coinbase is most likely the first name that comes to our mind. Coinbase is a very powerful crypto platform, especially in the US.

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In total, it has over 60 million users around the world which is a remarkable number. The headquarters of Coinbase is in San Francisco, California. Coinbase is not only a typical exchange, but it also offers a cryptocurrency wallet, so we can safely say it is a suitable place for crypto investors. 

⚡ Deposit fees:
Credit/Debit Card: 3.99%SEPA: €0U.S Bank Transfer: 1.49% (the US $0.15 min.)Coinbase USD wallet: 1.49%ACH Transfer USD: $0 Wire Transfer USD: $10
⚡ Withdrawal fees:
SEPA: €0.15U.S Bank Transfer: 1.49% (US $0.15 min.) Coinbase USD wallet: 1.49%Wire Transfer USD: $25
⚡ Trading fees:
Fees vary
⚡ Payment Methods:
Bank Account, Debit Card, Credit Card, Wire Transfer, SEPA Transfer,
⚡ Supported fiat:
USD, EUR, GBP, AUD, CAD, CNY & 50+ more

  Very large user base and extremely popular
  Debit card available
  A variety of fiat currencies supported
Over 100 cryptocurrencies supported

No future or margin trading
Fees are fairly high

Regulated & high liquidity

How To Buy Bitcoin in Mongolia?

Kraken

👛 Ease of Use – Easy
👛 Fees – Average
👛 Verification – 2-3 Days
👛 Reputation – Trusted
👛 Supported fiat – USD, EUR, GBP, JPY, CAD

Kraken is one of the largest cryptocurrency exchanges. It has been around for a very long time since it was launched back in 2011. In fact, Kraken is a part of crypto exchanges “big three” alongside Binance and Coinbase. It has millions of users around the world with strategic investors and the international market behind it.

More info +

San Francisco, California is where you will find Kraken’s headquarters. Jesse Powell is the founder and CEO of the company. Kraken offers advanced trading services such as leveraged positions, margin trading, limit orders, advanced orders with predefined triggers, and short selling. Staking is also available on Kraken. Security is on a very high level.

⚡ Deposit fees:
EUR SEPA Deposit (Free) – EEA countries only USD Bank Wire Deposit ($5 USD) – US onlyEUR Bank Wire Deposit (€10) – outside the US only USD Bank Wire Deposit ($10 USD) – outside US onlyJPY Bank deposit (Free, ¥5,000 deposit minimum) – Japan-only USD, Wire Deposit (Free)
⚡ Withdrawal fees:
Cryptocurrency: Fees vary, SEPA Withdrawal (€0.09) – EEA countries only USD Bank Wire Withdrawal ($5 USD) – US only USD Bank Wire Withdrawal ($60 USD) – outside US onlyEUR Bank Wire Withdrawal (€60) – outside US onlyJPY Bank withdrawal (¥20) – Japan onlyCAD EFT Withdrawal ($10 CAD)
⚡ Trading fees:
Maker: 0.16% Taker: 0.28%
⚡ Payment Methods:
Fedwire, Bank Transfer (SEPA), SWIFT, Wire Transfer, Etana Custody, Silvergate Exchange Network (SEN), FPS, CHAPS, and BACS, PayID, Osko
⚡ Supported fiat:
USD, EUR, GBP, JPY, CAD

  Advanced trading and staking features
  It has been active on the crypto market for a very long time
  It has a good reputation
Advanced trading and staking services

Fees are fairly high
No derivates or futures trading

Best Bitcoin Wallets in Mongolia

It is never a good idea to keep your coins on an exchange as that exposes you to numerous risks (exchange hacks, fund freezes by the exchange or some government regulatory body, etc). That is why you should use one of the wallets we list below to store your digital assets. The safest option is a hardware wallet like Nano X but ZenGo is also a good choice, especially for newcomers.

Bottom Line
Pros
Cons
ZenGo
ZenGo
Mobile


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Bottom Line

ZenGo is an easy iOS/Android Bitcoin & cryptocurrency wallet. Getting started takes less than 20 seconds.

Pros

extremely safe as it uses biometrics for security
you can buy crypto directly from it
has savings and staking account

Cons

No major flaws

Exodus
Exodus
Desktop


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Bottom Line

Electrum is one of the oldest and most popular desktop multi-currency wallets which is compatible with Windows, Mac, and Linux

Pros

One of the oldest wallets in the market
you can buy and stake directly from the wallet
supports all major coins and blockchains

Cons

Not completely open source

Ledger Nano X
Ledger Nano X
Hardware


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Bottom Line

Ledger Nano X is a leading and most secure cold storage wallet that connects to your device via Bluetooth.

Pros

Safest wallet in the market
competitive price
supports a lot of coins
you can buy directly from the wallet
stake directly from the wallet

Cons

Small display
complicated to setup for newbies

Read also:

Established & high liquidity

Localbitcoins

LocalBitcoins

👛 Ease of Use – Easy
👛 Fees – Low
👛 Verification – 1 Day
👛 Reputation – Trusted
👛 Supported fiat – USD, EUR, GBP, and more

LocalBitcoins is one of the largest peer-to-peer service platforms on the crypto market. It was launched in 2012 in Finland and was founded by Nikolaus Kangas. Since then, LocalBitcoins has achieved enormous growth, which led to it becoming the leading marketplace for Bitcoin exchange services. The only currency LocalBitcoins supports is Bitcoin.

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The feature that makes LocalBitcoins unique is the direct contact between users. Most exchanges match sellers and buyers manually without the possibility of communicating directly. Users from all around the world can meet and trade Bitcoins through a fairly simple process. This is why LocalBitcoins is considered to be the “Craigslist” of Bitcoin. The platform is accessible worldwide, precisely in 248 countries.

However, services of LocalBitcoins aren’t available in Washington and New York. Features such as futures trading, derivatives, margin trading, short selling, or any other option aren’t supported. This is because LocalBitcoins doesn’t work as a traditional trading platform.

⚡ Deposit fees:
Free
⚡ Withdrawal fees:
Free
⚡ Trading fees:
1%
⚡ Payment Methods:
SEPA, Wire Transfer, Paypal, WeChat, MoneyGram, Credit Card, Debit Card, etc.
⚡ Supported fiat:
USD, EUR, GBP, RUB, and more (most currencies)

  Simple to use
  Plenty of payment options
  Available worldwide
Swift transactions

Higher exchange rates
Cash trades aren’t supported

Established & high liquidity

paxful

Paxful

👛 Ease of Use – Easy
👛 Fees – Average
👛 Verification – 1 Day
👛 Reputation – Trusted
👛 Supported fiat – USD, EUR, GBP, CAD, AUD + more

Paxful is widely considered “the Uber” of the Bitcoin world. It is a crypto exchange that is based in the US and has over 200 employees. Paxful was launched in 2015, so it has longevity on the crypto market.

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Artur Schaback and Ray Youssef are the founders of Paxful. The headquarters of the company is in NY, US. On Paxful, you can easily buy crypto with just a few clicks. Moreover, there is Paxful’s affiliate program called “virtual kiosk” where you can spread the word about the exchange while generating a 2% revenue from any amount bought.

⚡ Deposit fees:
Free
⚡ Withdrawal fees:
0.5% – 5%
⚡ Trading fees:
No buyer fee, seller fee varies from 0.5% to 5%
⚡ Payment Methods:
Over 350 payment methods are available
⚡ Supported fiat:
USD, EUR, GBP, CAD, AUD, and many more

  Secure and safe
  The longevity of the crypto market
The number of payment methods is extremely high
Easy-to-use platform

No trading features
It is not regulated

Regulated & high liquidity

How To Buy Bitcoin in Mongolia?

Changelly

👛 Ease of Use – Easy
👛 Fees – Average
👛 Verification – 1 day
👛 Reputation – Trusted
👛 Supported fiat – USD, JPY

Changelly is a trustable site that can be used to exchange between various cryptocurrencies.

More info +

Changelly was founded in 2013 in Prague, Czech Republic, by the same guys who established MinerGate, one of the largest mining pools that exist today, so it’s a reliable company. Within a year Changelly has managed to attract over 100,000 users, which is really impressive. Changelly reached the 1,000,000 users milestone in April 2017, which shows how popular this cryptocurrency exchange website is becoming in such a short span of time.

⚡ Deposit fees:
Changelly does not have set fees due to the volatility of cryptocurrencies
⚡ Withdrawal fees:
None
⚡ Trading fees:
0.25%
⚡ Payment Methods:
Debit Card, Credit Card 
⚡ Supported fiat:
USD, EUR, GBP

  Wide range of cryptocurrencies
  Low crypto-to-crypto exchange fees
  Easy to use

Not regulated in the U.S.
High fiat-to-crypto rates
Limited payment options

Frequently asked questions about buying Bitcoin in Mongolia

Which country owns the most Bitcoin❓

According to Statista, the United States has the most Bitcoin trading volume on exchanges followed by Russia, Nigeria, the EU, and China.

Can Mongolia buy Bitcoin❓

Yes, you can buy Bitcoin in Mongolia on any of the exchanges mentioned in this article.

Is there a limit on Bitcoin ATM❓

Of the many types of Bitcoin ATMs, the most common only permit you buy Bitcoin, although some do also allow you to sell. Bitcoin ATMs usually have a withdrawal limit between $1,000 and $10,000.

Can I use Coinbase from Mongolia❓

Yes, Coinbase is available in Mongolia.

The post How To Buy Bitcoin in Mongolia? appeared first on CaptainAltcoin.

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