Exchanges
- Binance
- Examples of cryptocurrency exchanges with accounts in tenge or buy from card for tenge:
- Binance
- Bybit
- OKX
- MEXC Global
- EXMO (has a Kazakh license)
- Xignal (has a Kazakh license)
- Huobi
- KuCoin
Many cryptocurrency exchanges support the tenge currency as a means of buying digital currencies. This is completely legal. It is important to choose a safe platform, as there are hundreds of them on the market. The platform should work for several years and have a good reputation.
Buying on crypto exchanges is usually possible via bank cards (Visa/Mastercard/MIR) or payment systems (AdvCash, Payeer). Commissions are individual depending on the platform and payment method. Exchanges are also convenient due to additional features such as investments and different types of trading, including leverage.
P2p-exchanges
Examples:
- Bybit P2P
- Binance P2P
- OKX P2P
- Huobi P2P,
- LocalCryptos
- Bitpapa
- HodlHodl
- Bitzlato
- Garantex
p2p-exchanges can compete with exchangers in the choice of payment directions, but have a different structure of work. Users make payments between themselves, there is no need to bring fiat to exchanger. The role of the exchange is to provide special escrow accounts that automatically hold the cryptocurrency while the transaction takes place.
From the variety of offers on the exchange, you need to find one that fits the terms. When choosing, also consider the reputation of the counterparty, the number of its successful transactions. However, each exchange has an arbitrage – tech support, where you can write if you have a dispute.
Exchangers
Examples:
- MChange
- Bitality
- Baksman
- Matbea
- MagneticExchange
- 24PayBank
All exchangers offer a large number of payment options – and while the choice of cryptocurrencies here is less than on the exchanges, the choice of fiat methods – on the contrary, much more. It is possible to pay with a card or e-wallet in tenge, for example, QIWI KZT, AdvCash KZT. Among the exchangers you can find support for any banks and cards.
Work with the exchanger is to create an order for the exchange and its payment. When creating the request, you specify the amount, payment direction, details (in this case, the address of the cryptocurrency wallet, to which the purchased coins are to be credited). Then it takes 15-30 minutes to pay the request. You must transfer fiat from your card/ESP to the details issued by the exchanger. After receiving the payment, the service will send a response transaction with the crypto. For any questions or delays, please contact the exchanger’s chat.
AdvCash payment system
AdvCash
Website: advcash.com.
With AdvCash you can open accounts in different world currencies, including tenge, and buy digital assets from them in different ways:
Paying directly from an internal wallet and sending to a cryptocurrency wallet.
Paying from an internal wallet and sending to the Binance exchange.
Paying with any bank card.
In order to pay with a linked card, you need to add it to your account. It is noteworthy that AdvCash does not take any commissions for such operations. But you should keep in mind that there is always a network fee (deductions to miners/stackers of cryptocurrency).
Crypto-machines
Crypto machines in Kazakhstan
Website to find the nearest crypto-machine: https://coinatmradar.com/ (information may not be updated timely)
If you have the option to use a crypto machine, it’s a good option for conveniently buying crypto assets without intermediaries. There are such devices in some cities of Kazakhstan.
The purchase is usually made with cash, and in order not to make a mistake in entering the address for crediting digital coins, use the built-in scanner of the device and scan the QR code from your mobile wallet.
Telegram Bots
Bots in the Telegram messenger are often owned by p2p exchanges or exchangers, but can also be independent.
To use the bot, launch it and select items such as:
Fiat currency to be given away, payment method.
The cryptocurrency to be received.
In the case of p2p-exchanges – the choice of suitable offer, or the most relevant one will be selected automatically.
After that, the only thing left is to make a payment according to the specified details.
Wallets
Atomic Wallet
Examples:
- Jaxx
- Trust Wallet
- Atomic Wallet
- Trustee
Wallets augmented with the ability to buy cryptocurrency from a card usually do so through some payment provider, such as Simplex. In this regard, there is an additional fee, which can reach up to 5-10%.
Nevertheless, this method is convenient for those who are not going to trade actively, but just want to buy coins once as a long-term investment. The number of transactions in this case is reduced to a minimum.
Where to store cryptocurrency
The main types and examples of cryptocurrency wallets:
- Mobile – Trust Wallet, Huobi Wallet
- Desktop – Exodus, Jaxx
- Online – Metamask, Guarda
- Hardware – Ledger, Trezor, SafePal
- Paper.
Hardware and paper wallets are of the cold storage variety. This means that when they are used, cryptocurrency keys are protected from hacker attacks and other external threats. This method is ideal for storing long-term investments. A hardware wallet is more convenient than a paper wallet, but also requires the expense of purchasing a device.
Software wallets are good for their convenience. If you make several transactions every day, of course, it is much more comfortable to use a fast, easy and always available software hot storage wallet.
Regulation of digital assets in Kazakhstan
The state is currently planning to develop its own regulated cryptocurrency exchange. Both government agencies and banks are involved in making decisions on this issue.
There is a lot of talk on the topic of mining cryptocurrencies. The influx of miners was unexpected for the economy. First, miners were raised electricity rates to 1 tenge per kilowatt/hour, and then they thought about linking the rate to the bitcoin value.
Earlier in 2020, the Law of the Republic of Kazakhstan No. 347-VI “On amendments and additions to some legislative acts of the Republic of Kazakhstan on the regulation of digital technologies” came out. It legalizes mining in the country and equates digital assets with property. However, it is impossible to use them as a means of payment, as well as to issue them (excluding the legal zone of the Astana IFC).
FAQ
What status does cryptocurrency have in Kazakhstan?
Equated to property. Cannot be used as a means of payment, but can be bought and sold legally.
What exchanges support tenge accounts?
EXMO, Binance, Xignal.
Where can I buy cryptocurrency from a card?
With the help of many crypto-exchanges, as well as exchangers, p2p-platforms, payment systems, wallets, bots in Telegram.
What payment systems work with cryptocurrencies and tenge?
AdvCash meets all the requirements.
What are the wallets with the ability to buy from the card?
Jaxx, Trust Wallet, Atomic.
Are there cryptocurrency ATMs in Kazakhstan?
Yes, in major population centers.
Where to store purchased coins?
Software wallets – Trust Wallet, Metamask, Coinomi. Hardware – Ledger, Trezor, Keepkey, SafePal.
Conclusion
To buy cryptocurrency in Kazakhstan, first take care to create or buy a reliable wallet that meets your needs. Non-custodial wallets are preferred, in this case you won’t have to trust anyone with responsibility for your assets. Next, choose a convenient way to buy – here too, everything is individual, as the methods vary in speed, availability, convenience, and fees. Use different options depending on the situation, and then your transactions will always be profitable and safe