BX Thailand

Overview of BX Thailand
BX Thailand, once a leading cryptocurrency exchange in Thailand, operated under the domain https://bx.in.th/ and was managed by Bitcoin Co. Ltd., established in 2013. As the first exchange to secure a license from the Thai Securities and Exchange Commission (SEC), it played a pivotal role in the early development of the Thai cryptocurrency market. The platform enabled the trading of numerous cryptocurrencies, including Bitcoin, Ethereum, Litecoin, and altcoins such as OmiseGO, against the Thai Baht (THB) and other cryptocurrencies. Known for its user-friendly interface, BX Thailand offered two trading views, detailed charting, and a transparent order book, catering to both novice and experienced traders.

Features and Security
BX Thailand provided a robust trading experience with a flat 0.25% trading fee, free deposits for most transactions, and competitive withdrawal fees. The exchange prioritized security, storing 80-90% of funds in cold storage and implementing two-factor authentication (2FA). It also maintained a full reserve of user funds, with a “Proof of Funds Summary” showcasing transparency. Additional features included a mobile wallet service and seamless THB bank transfers, making it a convenient choice for local users. However, the platform faced occasional downtimes, attributed to high traffic or potential DDoS attacks, which frustrated some traders.

Closure and Legacy
On September 2, 2019, BX Thailand announced its closure, ceasing deposits on September 6 and trading on September 30, with users urged to withdraw funds by November 1, 2019. The exchange cited a shift to other business opportunities, though its modest $10 million daily trading volume and competition from global platforms like Huobi may have contributed. Post-closure, BX Thailand introduced a dormant account service, which required support tickets for withdrawals and charged fees. Although the platform is no longer operational, its parent company continues to manage related websites, such as Bitcoin.co.th; however, their current focus remains unclear.

Reputation and Considerations
BX Thailand earned praise for its regulatory compliance and transparency, but faced mixed reviews due to operational hiccups. Users appreciated its reliability and fast THB transfers; however, some reported slow withdrawals, unresponsive support, and concerns over downtime. No major scams were confirmed, but caution was advised due to the lack of clarity surrounding its closure. For Thai crypto traders, alternatives such as Bitkub, Satang, and Binance TH now dominate, offering regulated and high-liquidity platforms. BX Thailand remains a significant chapter in Thailand’s crypto history, reflecting the challenges and evolution of early exchanges.