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.
Binance
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 +
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
Coinbase
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.
More info +
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
Kraken
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 +
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.
ZenGo is an easy iOS/Android Bitcoin & cryptocurrency wallet. Getting started takes less than 20 seconds.
extremely safe as it uses biometrics for security
you can buy crypto directly from it
has savings and staking account
No major flaws
Electrum is one of the oldest and most popular desktop multi-currency wallets which is compatible with Windows, Mac, and Linux
One of the oldest wallets in the market
you can buy and stake directly from the wallet
supports all major coins and blockchains
Not completely open source
Ledger Nano X is a leading and most secure cold storage wallet that connects to your device via Bluetooth.
Safest wallet in the market
competitive price
supports a lot of coins
you can buy directly from the wallet
stake directly from the wallet
Small display
complicated to setup for newbies
Read also:
- How To Buy Bitcoin in Trinidad and Tobago?
- How To Buy Bitcoin in Israel?
- How To Buy Bitcoin in Brazil?
- How To Buy Bitcoin in Ethiopia?
LocalBitcoins
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.
More info +
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
Paxful
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.
More info +
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
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
According to Statista, the United States has the most Bitcoin trading volume on exchanges followed by Russia, Nigeria, the EU, and China.
Yes, you can buy Bitcoin in Mongolia on any of the exchanges mentioned in this article.
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.
Yes, Coinbase is available in Mongolia.
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Cryptocurrency