When you hear Vietnamese crypto exchange, a cryptocurrency trading platform based in Vietnam that serves local users with Vietnamese currency and language support. Also known as Vietnam crypto platform, it typically requires local ID, supports VND deposits, and follows strict national regulations. Unlike global exchanges, these platforms aren’t built for international traders—they’re designed for Vietnamese citizens who want to buy Bitcoin or Ethereum using their bank accounts.
Most Vietnamese crypto exchanges, like Bitsonic, operate only in Vietnamese, lack mobile apps, and require full KYC verification tied to government-issued IDs. Also known as local crypto platforms, they’re not just inconvenient for foreigners—they’re often unusable. You can’t sign up without a Vietnamese phone number, a local bank account, or a Vietnamese ID card. Even if you could, many don’t offer customer support in English, and their interfaces aren’t optimized for non-native speakers. These platforms exist because Vietnam has over 15 million crypto users, and local banks don’t allow direct crypto purchases. So people turn to these exchanges to trade using ZaloPay, Momo, or bank transfers.
But here’s the catch: KYC requirements, the process of verifying your identity to comply with anti-money laundering laws. Also known as identity verification, they’re stricter in Vietnam than in most countries. Exchanges must report all transactions to the State Bank of Vietnam. That’s why platforms like Bitsonic don’t allow anonymous trading—even small deposits require full documentation. If you’re outside Vietnam, you won’t find a legitimate Vietnamese exchange that lets you trade without local documents. Any site claiming otherwise is a scam.
What you’ll find in this collection are real reviews of platforms that claim to serve Vietnam, including the ones that actually work and the ones that don’t. You’ll see how South Korea’s crackdown on exchanges like Upbit set a global example, how Canada shut down anonymous platforms like TradeOgre, and why fake exchanges like LongBit and AnimeSwap keep popping up. You’ll also learn why using a Vietnamese exchange isn’t always the best choice—even if you’re in Vietnam—and what safer, global alternatives exist that still let you trade in VND.
Bvnex was a Vietnam-focused crypto exchange that shut down in 2023 after losing user trust, failing audits, and disappearing trading volume. Learn why it vanished and what to look for in a safe exchange today.