Cash Out Your Crypto: Ways to Convert Cryptocurrency to Cash in Vietnam

If you’re a crypto investor in Vietnam, you may be wondering how to convert your digital assets into cash. Fortunately, there are several options available. In this article, we’ll explore ways to cash out your cryptocurrency in Vietnam.


Cash Out Your Crypto: 5 Ways to Convert Cryptocurrency to Cash in Vietnam

Understanding the Cryptocurrency Landscape in Vietnam

With the cryptocurrency landscape in Vietnam expanding at lightning speed, more and more investors, traders, and businesses are hopping on the digital assets bandwagon. As a developing country, Vietnam boasts a large population of tech-savvy and financially-literate individuals who see the potential in cryptocurrencies as a viable alternative to traditional banking systems.

Despite the government’s initial cold shoulder towards cryptocurrencies, recent regulatory updates have shed some light on their legal status. In 2020, the Ministry of Finance established a research group to study and propose regulations for virtual assets. This move signals a shift towards a more accommodating stance on digital currencies, giving a much-needed boost to the local crypto ecosystem.

Legal Considerations for Converting Crypto to Cash in Vietnam

Before you dive headfirst into converting your cryptocurrency to cash in Vietnam, it’s crucial to have a firm grasp on the legal landscape surrounding digital assets. While the State Bank of Vietnam (SBV) does not recognize cryptocurrencies as a legal means of payment, they are not explicitly banned or illegal. Talk about a gray area!

In 2018, the SBV issued a decree stating that using cryptocurrencies for payment purposes could result in fines. However, this does not prohibit the ownership, trading, or exchange of digital assets for fiat currency, as long as it’s not used as a payment instrument. Phew!

To stay on the right side of the law, make sure your crypto-to-cash conversion method adheres to any relevant regulations. This may involve reporting your transactions for tax purposes or following anti-money laundering (AML) and know-your-customer (KYC) guidelines when using exchange platforms.

The Role of Local Crypto Exchanges in Vietnam

Local cryptocurrency exchanges are the lifeblood of the Vietnamese crypto ecosystem, enabling users to buy, sell, and trade various digital assets with ease. These platforms offer a convenient way for individuals to convert their cryptocurrencies into Vietnamese Dong (VND) or other fiat currencies.

Some of the most popular local crypto exchanges in Vietnam include Remitano, T-REX, and Vicuta. These platforms offer a wide range of cryptocurrencies and trading pairs, allowing users to easily cash out their digital assets. Additionally, they often provide various payment options, such as bank transfers, e-wallets, and cash, to cater to users’ preferences.

When selecting a local exchange, it’s essential to consider factors such as fees, security, and customer support. A reputable exchange will prioritize user safety by implementing stringent security measures, such as two-factor authentication (2FA) and cold storage for funds. Furthermore, responsive and knowledgeable customer support is vital to ensure a seamless and hassle-free experience.

In summary, the cryptocurrency landscape in Vietnam is evolving rapidly, with increasing adoption and a shifting regulatory framework. To cash out your crypto safely and legally, it’s crucial to understand the legal considerations and the role of local exchanges in facilitating these transactions. By staying informed and choosing the right conversion method, you can successfully navigate the Vietnamese crypto ecosystem and convert your digital assets into cash with ease.

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Utilizing Peer-to-Peer (P2P) Platforms

How P2P Platforms Work for Converting Crypto to Cash

Peer-to-peer (P2P) platforms provide a decentralized marketplace where buyers and sellers can connect directly to exchange cryptocurrencies for fiat currencies like Vietnamese Dong (VND). These platforms act as intermediaries, offering a secure environment for users to carry out their transactions, without the need for a centralized exchange.

To convert crypto to cash on a P2P platform, you need to create an account and complete any required verification processes. Once verified, you can list your offer to sell your cryptocurrency, specifying the amount you wish to sell and your desired exchange rate. Potential buyers can then browse through the available offers and choose one that suits their needs. The platform usually holds the cryptocurrency in escrow during the transaction to ensure that both parties fulfill their obligations before releasing the funds.

Popular P2P Platforms in Vietnam

Several P2P platforms are popular among Vietnamese cryptocurrency users. Some of the most commonly used platforms include:

  • LocalBitcoins: As one of the oldest and most well-established P2P platforms globally, LocalBitcoins allows users to buy and sell Bitcoin directly with other users. The platform offers various payment methods, including bank transfers and cash deposits, and provides an escrow service to protect both parties during the transaction.
  • Remitano: Remitano is a P2P platform that supports several cryptocurrencies, including Bitcoin, Ethereum, and Litecoin. It is popular among Vietnamese users due to its user-friendly interface, secure escrow system, and dedicated customer support.
  • Paxful: Paxful is another P2P platform that allows users to buy and sell Bitcoin with over 300 payment methods, including bank transfers, cash, and gift cards. Its user-friendly interface and secure escrow system have made it a popular choice among Vietnamese crypto enthusiasts.

Tips for Safe and Secure P2P Transactions

While P2P platforms offer a convenient way to convert cryptocurrency to cash, it’s essential to take certain precautions to ensure a safe and secure transaction. Here are some tips to keep in mind when using P2P platforms:

  1. Choose a reputable platform: Always opt for a well-established platform with a good track record and a secure escrow system. This will minimize the risk of encountering scams or fraudulent activities.
  2. Verify the buyer’s reputation: Before agreeing to a transaction, check the buyer’s reputation on the platform. Most P2P platforms have a rating system in place, allowing you to gauge the trustworthiness of other users based on their previous transactions.
  3. Use the platform’s escrow service: Never agree to bypass the platform’s escrow system, as this leaves you vulnerable to fraud. Always follow the platform’s guidelines and procedures for carrying out transactions to ensure maximum security.
  4. Communicate clearly: Make sure you clearly outline your terms and conditions, including your preferred payment method and any additional fees. This will help avoid any misunderstandings during the transaction.
  5. Be cautious with new accounts: If a user with a new account or minimal transaction history approaches you, proceed with caution. While not all new accounts are fraudulent, it’s essential to be vigilant and assess the potential risks.

By following these tips and choosing a reputable P2P platform, you can securely and efficiently convert your cryptocurrency to cash in Vietnam. Remember to stay informed about any legal considerations and always prioritize the security of your transactions. Happy trading!


Turning Crypto into Cash: A Guide to Local Exchanges in Vietnam

A Look at the Top Local Crypto Exchanges in Vietnam

When it comes to converting your digital assets into cold, hard cash, Vietnam has a number of local cryptocurrency exchanges to choose from. Here’s a quick rundown of some of the most popular options:

1. Remitano: A crowd favorite, Remitano is a leading P2P platform in Vietnam, supporting a variety of cryptocurrencies like Bitcoin, Ethereum, and Litecoin. With a secure escrow system in place, you can be confident that your transactions will go off without a hitch.

2. Bitcoin Vietnam: As the country’s first Bitcoin exchange, Bitcoin Vietnam has built quite the reputation for itself. Users can trade multiple cryptocurrencies, including (you guessed it) Bitcoin, Ethereum, and Bitcoin Cash.

3. VBTC: Another big player in the local scene, VBTC is known for its user-friendly interface and speedy transaction processing, making it a solid choice for those looking to trade Bitcoin.

4. T-REX: The new kid on the block, T-REX offers a wide range of cryptocurrencies for trading, including Bitcoin, Ethereum, and Binance Coin. It also boasts advanced trading tools for those looking to level up their crypto game.

Local Exchanges: The Good, The Bad, and The Ugly

Like everything in life, using local exchanges in Vietnam has its pros and cons. Let’s weigh them up:


  • Local exchanges tend to process transactions faster than their international counterparts, thanks to operating within the same banking system.
  • Customer support is typically more responsive and available in Vietnamese, making it easier to navigate and resolve any issues.
  • As they cater specifically to the Vietnamese market, local exchanges may offer more competitive fees and exchange rates.


  • Liquidity might be lower on local exchanges compared to larger international platforms, which could affect transaction ease and exchange rates.
  • The selection of cryptocurrencies available for trading may be limited on local platforms, potentially restricting users who want to trade in less popular digital assets.
  • The regulatory environment in Vietnam remains a bit of a wild card, which could impact the stability and operations of local exchanges.

Picking the Perfect Local Exchange for Your Needs

Choosing the right local exchange for converting your cryptocurrency to cash in Vietnam can be a daunting task. Fear not! Here are some factors to consider:

1. Security: Make sure the exchange has top-notch security measures like two-factor authentication (2FA) and cold storage of digital assets.

2. Fees and Exchange Rates: Shop around and compare transaction fees and exchange rates to find the best bang for your buck.

3. Supported Cryptocurrencies: Take note of the range of cryptocurrencies supported by the exchange, particularly if you plan to trade in less popular digital assets.

4. Reputation and User Reviews: Do your homework and read user reviews and testimonials to get a sense of the platform’s reliability and customer satisfaction.

5. Customer Support: Choose an exchange with responsive and efficient customer support in Vietnamese to help you navigate and resolve any issues that may crop up during the conversion process.

6. Regulatory Compliance: While the regulatory environment in Vietnam is still a work in progress, opt for an exchange that’s committed to complying with existing regulations and guidelines to ensure your funds are safe and sound.

Keep these factors in mind, and you’ll be well on your way to finding the ideal local exchange for converting your cryptocurrency to cash in Vietnam. Happy trading!


Crypto ATMs: Your Ticket to Convenient and Anonymous Cash Conversion

Decoding the World of Crypto ATMs

Cryptocurrency ATMs, fondly referred to as Crypto ATMs or Bitcoin ATMs, are your friendly neighborhood machines that help you convert your cryptocurrencies into cold hard cash, or the other way round. These babies are designed specifically for digital currencies like Bitcoin, Ethereum, and Litecoin, and operate quite similarly to traditional ATMs.

To dive into the world of crypto ATMs, you need to have a digital wallet to store your precious cryptocurrencies. Converting your crypto to cash is as simple as visiting the ATM, scanning the QR code of your wallet address, and entering the amount of cryptocurrency you want to sell. Voila! The machine will then shower you with the equivalent amount in cash, usually in the local currency.

Now, if you’re in the mood for buying cryptocurrencies, just insert cash into the machine, enter the amount of crypto you want, and provide the QR code of your digital wallet. The machine will transfer the purchased cryptocurrency directly to your wallet, making you the proud owner of some shiny new digital coins.

Keep in mind that crypto ATMs might ask for some form of identification to comply with Anti-Money Laundering (AML) and Know Your Customer (KYC) regulations. However, some machines offer a taste of anonymity by allowing smaller transactions without identification – perfect for the privacy-conscious folks out there.

Where to Find Crypto ATMs in Vietnam

As cryptocurrencies gain popularity in Vietnam, the number of crypto ATMs in the country is on the rise. While the number might not be as impressive as in other countries, you can still find a few of these machines in major cities like Ho Chi Minh City and Hanoi.

Looking for a crypto ATM near you? Check out online resources like Coin ATM Radar, which offers an interactive map of crypto ATMs worldwide, including those in Vietnam. The map shows you the exact location of each ATM, along with information on the supported cryptocurrencies, fees, and transaction limits. Pretty handy, right?

Remember, crypto ATMs in Vietnam might have different fees and exchange rates. So, it’s crucial to do your homework and compare these factors before choosing a machine – after all, who doesn’t love a good deal?

Pros and Cons of Using Crypto ATMs

Crypto ATMs come with their own set of benefits and drawbacks when it comes to converting cryptocurrencies to cash in Vietnam:

  • Convenience: Crypto ATMs offer an easy and quick way to convert cryptocurrencies to cash, making them perfect for those who prefer a physical transaction. The process is usually straightforward and user-friendly, even for newbies.
  • Anonymity: While not completely anonymous, crypto ATMs offer a degree of privacy as some machines allow small transactions without requiring identification. Great for those who want to keep their financial affairs hush-hush.
  • Accessibility: Crypto ATMs are a godsend for those without access to traditional banking services or those who’d rather not use online exchanges for cryptocurrency transactions.

On the flip side, there are some downsides to using crypto ATMs:

  • Fees: Crypto ATMs tend to have higher transaction fees compared to online exchanges. The fees can vary quite a bit between machines, so it’s essential to compare them before making a transaction.
  • Limited availability: The number of crypto ATMs in Vietnam is still relatively low compared to other countries. As a result, you might have to hunt a bit to find a machine nearby or travel to access one.
  • Variable exchange rates: Crypto ATMs might offer different exchange rates than online exchanges, which could result in a less favorable rate for you.

In a nutshell, crypto ATMs provide a convenient and accessible option for converting cryptocurrencies to cash in Vietnam. However, it’s crucial to weigh the pros and cons, and consider factors like fees, exchange rates, and availability before choosing this method. Do your research, compare your options, and choose the best solution for your needs – and happy converting!


Using Debit and Credit Cards Linked to Crypto Wallets

How Crypto-linked Debit and Credit Cards Work

Crypto-linked debit and credit cards provide a convenient way to convert your cryptocurrency to cash, particularly for everyday transactions. These cards work by connecting your crypto wallet to a traditional debit or credit card. When you make a transaction using the card, your cryptocurrency is automatically converted to the local currency at the current exchange rate.

To use a crypto-linked card, you first need to create an account with the card provider and link it to your existing crypto wallet. This will allow the card issuer to access your wallet and perform conversions when necessary. Most crypto-linked card providers have a mobile app or online platform where you can monitor your transactions, check your balance, and manage your account.

It is essential to note that some card providers charge fees for the conversion process, such as a small percentage of the transaction value or a flat fee per transaction. These fees can vary depending on the provider, so it is essential to read the terms and conditions before signing up for a card.

Popular Crypto-linked Cards Available in Vietnam

Several crypto-linked cards are available in Vietnam, catering to different user needs and preferences. Some of the most popular options include:

  • Wirex: Wirex is a global cryptocurrency platform that offers a multi-currency debit card, allowing users to spend their cryptocurrencies in local currencies. The Wirex card supports several cryptocurrencies, including Bitcoin, Ethereum, Litecoin, and Ripple. Users can also earn up to 1.5% cashback in Bitcoin on all in-store purchases.
  • is a popular platform that provides a range of services for cryptocurrency users, including a crypto-linked Visa card. The card comes in several tiers, each offering different benefits such as cashback, airport lounge access, and more. Users can spend their crypto in local currencies and enjoy competitive exchange rates.
  • TenX: TenX is a Vietnam-based platform that offers a crypto-linked debit card that allows users to spend their cryptocurrencies seamlessly. The TenX card supports multiple cryptocurrencies, including Bitcoin, Ethereum, and Litecoin. TenX also provides a mobile app to help users manage their card and track their transactions.
  • BitPay: BitPay is a well-known payment processor that offers a crypto-linked Mastercard for users in Vietnam. The card supports Bitcoin, Ethereum, Bitcoin Cash, and several stablecoins. BitPay also offers a mobile app and an online dashboard to help users manage their card and transactions.

Tips for Managing and Securing Your Crypto-linked Card

To ensure the safety and security of your crypto-linked card, follow these essential tips:

  1. Choose a reputable card provider: Do thorough research before selecting a card provider. Look for reviews, testimonials, and information about the company’s security measures to ensure that you are entrusting your crypto assets to a trustworthy provider.
  2. Enable two-factor authentication (2FA): Many card providers offer 2FA as an added security layer. Make sure to enable this feature to protect your account from unauthorized access.
  3. Monitor your transactions: Regularly check your transaction history through the card provider’s app or online platform. This will help you identify any suspicious activity on your account and take appropriate action if needed.
  4. Keep your card secure: Treat your crypto-linked card like any other debit or credit card. Keep it safe and do not share your card details with anyone.
  5. Set spending limits: Some card providers allow you to set daily or monthly spending limits on your card. This can help you manage your spending and protect your account from potential fraud.

By following these tips, you can enjoy the convenience of converting your cryptocurrency to cash in Vietnam through crypto-linked debit and credit cards while ensuring the security of your assets. And remember, with great power comes great responsibility – so spend wisely!

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Frequently Asked Questions

Is cryptocurrency legal in Vietnam?

Cryptocurrency is not recognized as a legal form of payment in Vietnam. However, trading and investing in cryptocurrencies is not explicitly banned. It’s essential to stay updated with the local regulations and consult a legal expert if necessary.

What are the most popular P2P platforms in Vietnam?

Some popular P2P platforms in Vietnam include LocalBitcoins, Paxful, and Remitano. These platforms allow users to trade cryptocurrencies with others directly, making it easier to convert crypto to cash.

Are there any risks in using P2P platforms?

There are potential risks associated with using P2P platforms, such as fraud, price volatility, and potential regulatory issues. It’s essential to research the platform and follow recommended security practices to minimize these risks.

What are some top local crypto exchanges in Vietnam?

Top local crypto exchanges in Vietnam include VBTC, BitcoinVN, and Bvnex. These exchanges allow users to trade various cryptocurrencies and convert them to cash through bank transfers or other methods.

Are there any crypto ATMs in Vietnam?

Yes, there are a few crypto ATMs in Vietnam, mainly located in major cities like Ho Chi Minh City and Hanoi. These ATMs allow users to buy and sell cryptocurrencies for cash, providing a convenient and anonymous method of conversion.

What are some popular crypto-linked debit and credit cards available in Vietnam?

Popular crypto-linked debit and credit cards in Vietnam include, Wirex, and TenX. These cards allow users to spend their cryptocurrencies directly or convert them to cash through ATMs and other cash withdrawal methods.

What is an OTC trading desk, and how does it help in converting crypto to cash?

An Over-the-Counter (OTC) trading desk is a service provided by financial institutions that facilitates the buying and selling of large amounts of cryptocurrencies. OTC trading desks help convert crypto to cash by offering personalized services, competitive pricing, and increased privacy for large transactions.

Are there any OTC trading desks operating in Vietnam?

Yes, there are OTC trading desks operating in Vietnam, such as those provided by VBTC and BitcoinVN. These desks cater to clients looking to convert large amounts of crypto to cash, offering personalized services and competitive rates.

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