This guide will walk you through the essential steps to buy and sell KBTC in Vietnam, ensuring a seamless experience as you navigate the world of cryptocurrency. Whether you’re looking to invest or trade, understanding the process is key to maximizing your potential in the digital asset market.

Overview of KBTC

KBTC is a “wrapped Bitcoin” issued by Kraken, fully backed 1:1 by Bitcoin held in Kraken’s reserves. KBTC allows users to use Bitcoin on networks like Ethereum and OP Mainnet, making it accessible for decentralized finance (DeFi) applications. Users can easily exchange between KBTC and Bitcoin, with transparent reserves verified through smart contracts. KBTC provides flexible Bitcoin usage across different blockchain ecosystems.

However, KBTC relies on Kraken’s backing, which reduces decentralization. Additionally, using KBTC on other blockchains may incur transaction fees and carry risks from smart contracts.

KBTC is a "wrapped Bitcoin" issued by Kraken
KBTC is a “wrapped Bitcoin” issued by Kraken

How to sell KBTC in Vietnam

BitcoinVN is Vietnam’s first cryptocurrency exchange, launched in March 2014. It is known for its reliability and compliance with local regulations, ensuring a secure trading environment. BitcoinVN supports KBTC (Kraken’s wrapped Bitcoin), allowing users to transact easily within the cryptocurrency ecosystem. The platform offers low transaction fees (about 0.2% per transaction), a network of Bitcoin ATMs, and dedicated bilingual customer support, making it a popular choice for both novice and experienced traders.

To sell KBTC in Vietnam, please follow the instructions below:

  • Step 1: Access BitcoinVN Exchange.
  • Step 2: In the “You Send” section, find and select KBTC.
Select KBTC
  • Step 3: In the ‘You Receive‘ section, select VND. If you have a domestic bank account, choose the banker option; otherwise, select the cash option for Sai Gon, Hue, Hoi An, or Hanoi if you want to receive cash at our cash office.
Select VND
  • Step 4: Enter the amount of KBTC you want to sell in the left column, the corresponding amount you receive will be displayed in the right column. Next, enter your bank account information and click “Swap”.
Click “Swap” to proceed the transaction
  • Step 5: Go to your KBTC wallet, scan the QR code or copy the provided address on the screen, paste it into the “recipient address” field, and transfer the exact amount of KBTC as requested. 
Send the exact amount of KBTC as requested

That’s it! You have successfully sell KBTC quickly and easily with BitcoinVN!

How to buy KBTC in Vietnam

To buy KBTC, please follow the instructions below:

  • Step 1: Access BitcoinVN Exchange.
  • Step 2: Select VND in the “You Send” section. If you have a domestic bank account, we recommend choosing “Bank Transfer” for convenience. If not, you can select Paysend, Wise, or Cash in Saigon.
Select VND
  • Step 3: Find and select KBTC in the “You Receive” section.
Select KBTC
  • Step 4: Enter the amount of KBTC you want to buy under the KBTC column, the corresponding amount you need to pay will be displayed in the VND column. Next, enter your wallet address to receive KBTC and click “Swap”.
“Swap” to go to the next step
  • Step 5: Scan the QR code or manually enter the bank information displayed on the screen and transfer the exact amount requested.
Send money into the bank information, which is displayed on the screen

So, you have successfully bought KBTC with BitcoinVN quickly and easily!

How to exchange large amounts of crypto for cash in Vietnam

BitcoinVN’s OTC service supports large transactions, ranging from $10,000 to several million dollars, with various payment options, including bank transfers and cash. OTC trading via BitcoinVN offers competitive pricing and enhanced privacy, making it suitable for large-volume transactions.

Trading through OTC (Over-The-Counter) with BitcoinVN offers several advantages, including:

  • Competitive Pricing: OTC trading often provides better prices compared to exchange trading, especially for large transactions, helping you save on costs.
  • Security and Privacy: OTC transactions allow you to execute large trades without publicly disclosing information on an exchange, protecting your privacy.
  • Professional Support: BitcoinVN’s OTC team provides personalized support throughout the trading process, helping you understand the necessary steps and terms.

*Please note that you need to schedule an appointment in advance in order to proceed with OTC transactions.

RELATED ARTICLESMORE FROM AUTHOR