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The Best Crypto Exchange in Laos

crypto exchange, The Best Crypto Exchange in Laos

Since Laos made a U-turn on the cryptocurrency topic, crypto projects have flourished in the country.

Six companies have been awarded trial licenses for crypto mining and exchange services. Among them, two have expressed tangible interest to build crypto exchanges in Laos.

Welnance Exchange on Binance Smart Chain

Welnance is the crypto trading platform from Phousy Group, a local consortium group with more than 20 years experience specifically in construction.

Welnance has launched a platform and a token called $WEL. The platform operates on Binance blockchain network called BSC Binance Smart Chain. The big advantage of BSC is the low transaction fees.

Find out how to buy $WEL, the utility token from Welnance Laos.

Bitqik, JDB gateway to the crypto world

Joint Development Bank (JDB) is one of the company that received a commercial license for trading and mining crypto currencies in Laos.

crypto exchange, The Best Crypto Exchange in Laos
bitqik office in Vientiane, Laos

JDB is developing its own crypto exchange platform under the brand Bitqik. The objective of Bitqik is to enable Lao people to exchange LAK with crypto currency directly using their bank account which will be a huge breakthrough compared to Welnance.
As JDB is a bank, it is likely that the service will be limited to JDB customers but we will find out after the launch.

Binance, the largest crypto exchange in the world

Since Welnance is not meant to exchange domestic currency with crypto and Bitqik is yet to be launched, the best choice for Lao people to convert FIAT currencies (USD, THB, LAK) with cryptocurrencies is Binance.

To begin playing in the world of cryptocurrencies, whether as a newbie or as an investment entity, you should check into a reputable currency exchange website that offers a secure environment in which you can conduct your business without the worry of security breaches or constraints.

We’re here to present you to the market’s leading cryptocurrency exchange website: Binance. Here, we will get thoroughly into Binance, what this does, and how it works.

Use Our Referral Link and claim the Binance $50 bonus!

Introducing Binance

Binance is a cryptocurrency exchange that offers a platform for various cryptocurrencies. Binance is for anyone else interested in entering the cryptocurrency trading and investing markets. Binance stands out from the crowd of other cryptocurrency trading platforms because it offers unique features.

Why do we use Binance? 

For starters, Binance has a wide range of features that set it apart from other cryptocurrency exchange sites. It provides a variety of trading interfaces and order kinds. It also includes a number of derivatives and futures contracts. It features cheap per trade costs, which implies less investment, and it also has API keys.

crypto exchange, The Best Crypto Exchange in Laos

Binance offers a low-cost solution that is simply accessible and affordable to everyone. It has a 0.01% minimum buy and trading charge, with extra savings available. Binance charges an extra 2% cost for credit card transactions, however, the deposit and withdrawal fees vary per currency.

If you don’t have a Binance account yet, you can enter the code ”42315554” in the referral ID field when opening your Binance account and receive a 20% fee discount for spot (max) and a 10% fee discount for futures (max).

You can simply click the button below to open your Binance account with a 20% fee discount:

Binance Features 

Binance offers a low-cost solution that is simply accessible and affordable to everyone. It has a 0.01% minimum buy and trading charge, with extra savings available. Binance charges an extra 2% cost for credit card transactions, however, the deposit and withdrawal fees vary per currency.

Not just one or two, but Binance provides crypto exchange support for an extra 200 plus countries including Myanmar, whilst others, such as Coinbase, only provide support for 44 countries.

Binance supports nearly every form of transaction, including buy, sell, trade, withdraw, and deposit. It also includes stopping options, leverage options, limit orders, and futures trading options.

P2P in Binance 

P2P Binance – P2P is an abbreviation for Peer-to-Peer. To better understand how P2P works in Binance, we will break it down in the simplest way possible. Many Binance users favor P2P Binance trading since it is a more cost-effective means of purchasing coins. This is due to the fact that they may enjoy zero trading costs and avoid paying fees charged by their credit/debit cards or banks.

P2P Binance is a fantastic option for the people of Laos where you may safely exchange your crypto assets with another peer. However, there are always concerns to consider, and you should always take precautions to protect yourself. Our experience with P2P Binance has been great, and if you decide to invest, remember to do your research and double-check the conditions before proceeding.

Binance Futures

Binance Futures is the most popular cryptocurrency futures trading platform, with leverage of up to x125. It enables you to open Long positions (upward plays) and Short positions (downward guesses) 

Binance Futures leverage, which allows for very quick gains but also equally rapid losses, should be utilized carefully and with awareness of the danger of position liquidation.

The benefits of Binance Futures include the ability to gamble against the market, use leverage to improve your earnings, and hedge, which means taking two opposing positions to hedge.

The downsides of Binance Futures are high risk, market volatility, periodic fees, squeeze (very low volatility followed by an explosion of volatility), and squeezes (extremely low volatility followed by an explosion of volatility).

Binance In Laos

Opening a Binance Crypto Trading account from Laos is a simple online process that requires:

Through the Platform’s App, you may register and upload an ID. It’s time to deposit dollars or after their administrative staff has approved your account. Credit Cards (through Third Party Services like BANXA or Simplex), Bank Transfers, P2P or, if you already have Cryptos on other platforms, you may transfer them as well. You are ready to trade after Binance has applied your cash or crypto assets to your account.

Binance Merits 

  • Account opening is completed quickly.
  • Fees are low.
  • There are hundreds of crypto currency pairings.
  • A multi-currency wallet that is secure
  • Setups for basic and advanced trades
  • Excellent liquidity
  • Effective education tools
  • Multiple deposit options are available.

Demerits in Binance 

  • The platform could be difficult to use; it is not ideal for novices. Luckily, there is Binance Lite that can be activated in one tap.
  • Has run into regulatory issues in a number of countries.

Is Binance is safe to invest in?

Despite a hack, in May 2019 Binance has a reputation as one of the safest exchanges in the market.

It is much healthier and less credible than its competitors, which are much more established industries in the conventional sense, such as Coinbase, Kraken, or Kucoin, but led by the charismatic CZ, Binance would definitely rank high among crypto fans as one of the safer places to store cryptocurrencies.

Because of the increased likelihood of security concerns and cases of money laundering. Binance ensures that consumers’ crypto currency exchanges are extremely secure. It provides 2FA using the Google authenticator app and also provides its own code generator app. It features device-level constraints that limit the exchange to only a few devices. It also has a U2F hardware key setup and the ability to whitelist pre-approved addresses.

Binance is a crypto currency powerhouse that has been under intense regulatory scrutiny in recent months. While the exchange works with authorities to make progress, this article about Binance should meet your trading needs.

What are your thoughts on Binance? Do you use Binance to trade Bitcoin? Please share your ideas and experiences in the comments section below.

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