Exchange review · South & Southeast Asia
Bitkub Review 2027: Is It the Right Exchange for You?
Bitkub is the dominant crypto exchange in Thailand. It handles the great majority of trading in Thai baht and has made its founder one of the country's best-known technology entrepreneurs. The exchange is licensed by the Thai Securities and Exchange Commission and offers a straightforward way for Thai residents to buy and sell digital assets through local banks.
Bitkub's dominance has come with controversy, including regulatory fines and a high-profile acquisition that collapsed. This 2027 review explains what the platform offers and what its history tells prospective users.
The Rise of Bitkub
Bitkub was founded in 2018 by Jirayut Srupsrisopa, known as Topp, who had previously started an earlier Thai bitcoin business. The exchange obtained its licence from the Thai SEC in 2019 and grew explosively during the 2021 bull market, when its share of domestic trading was reported at around ninety percent.
The surge exposed weaknesses. In January 2021 the platform suffered repeated outages under the load, and the regulator ordered it to fix its systems within a deadline and to stop taking new customers until it had done so. Bitkub invested heavily in capacity afterwards.
In November 2021 the parent of Siam Commercial Bank, one of Thailand's oldest banks, announced that it would buy 51% of the exchange for nearly 18 billion baht. The deal was delayed during due diligence and cancelled in August 2022. The bank cited unresolved issues with the regulator. Bitkub remained independent and has since spoken of plans for a stock market listing.
Products
- Spot trading in baht for well over a hundred coins.
- A simple interface for beginners and a pro view with full charts.
- KUB, the exchange's coin, which runs on the company's own blockchain, Bitkub Chain.
- Services built on that chain, including a digital-asset wallet and applications developed by partner companies.
- Staking-type and earn features where permitted by Thai rules.
- Education, through the Bitkub Academy.
There is no leverage. Thai regulations have limited what exchanges may offer, including, at various times, restrictions on lending and yield products for retail customers.
- Spot fee
- 0.25% / 0.25%maker / taker, base tier
- Founded
- 20189 years in 2027
- Trust score
- 8 / 10CoinGecko, live
- Proof of reserves
- —licensed or registered
Fees
Bitkub charges a flat trading fee of 0.25% per trade for both makers and takers. This is high compared with global exchanges and typical of Thai platforms, though competition has started to push fees down.
Baht deposits by bank transfer or QR payment are free, and baht withdrawals cost a small fixed fee. Crypto withdrawals carry a fee per coin and network.
On the tax side, Thailand has taken an accommodating approach to trading on licensed exchanges: value-added tax does not apply to such transactions, and the government introduced a multi-year exemption from personal income tax on gains from sales made through licensed domestic platforms. Check the conditions and dates that currently apply.
Regulation by the Thai SEC
Thailand regulates digital asset businesses under a 2018 decree. Exchanges, brokers and dealers must be licensed by the SEC, with approval from the Ministry of Finance. Licensed exchanges must:
- Keep customer assets separate from their own and hold a large share in cold storage.
- Maintain capital in proportion to the customer assets they hold.
- Assess customers' knowledge and suitability.
- Follow rules on listing, market surveillance and advertising.
Since 2022 the use of digital assets as a means of payment for goods and services has been prohibited, and exchanges may not promote it. The regulator has also acted against unlicensed foreign platforms that solicit Thai users, and in some cases access to them has been blocked.
Bitkub holds the required licence and is a member of the industry association.
Fines and Controversies
Bitkub's regulatory record is not clean, and customers should know the main episodes.
- Wash trading. In 2022 the SEC imposed civil penalties on the company, a senior executive and a market maker for creating artificial trading volume on the exchange in 2019.
- Listing of KUB. The SEC found that the exchange's process for listing its own coin did not meet the required standards and ordered corrective action.
- Insider trading. A senior technology executive was fined for buying KUB using inside information ahead of the announcement of the bank deal.
- System failures. The 2021 outages led to the order mentioned above.
None of these cases involved loss of customer assets. They do show a period of weak controls during rapid growth, and they were the background to the failed acquisition. The company says that it has strengthened governance since.
The KUB Coin
KUB serves as the fee token of Bitkub Chain and offers benefits on the exchange. Its price rose spectacularly when the bank deal was announced in 2021 and fell sharply afterwards.
A token issued by the same company that runs the dominant exchange on which it trades presents obvious conflicts of interest, which is why the regulator examined its listing. Treat KUB as a speculative asset linked closely to one company's fortunes.
Security
Bitkub has not reported a hack resulting in loss of customer funds. It holds international information security certifications, stores most assets offline as Thai rules require and has had its controls reviewed by outside auditors.
Thai users are targets of call-centre fraud on a large scale. Scammers pose as officials or exchange staff and instruct victims to transfer money or crypto. Bitkub does not make such calls. The exchange has added protective steps, such as facial verification for larger transfers, in line with Thai anti-fraud measures.
Opening an Account
Bitkub serves Thai residents and foreign nationals with the right documentation. Thai citizens verify their identity with a national ID card and facial recognition, and must complete a knowledge test before trading, as the regulator requires. A Thai bank account in your own name is needed for baht transfers.
Deposits by QR payment are credited within minutes. Customer service is available in Thai and English by chat and phone, and the company operates a physical service centre in Bangkok. If a deposit is delayed, the usual cause is a mismatch between the name on the bank account and the name on the exchange account, since third-party transfers are rejected under Thai anti-fraud rules.
Strengths and Weaknesses
Strengths:
- The deepest baht order books in the country.
- A licence from the Thai SEC.
- Easy local deposits and withdrawals.
- No loss of customer funds to hacking.
- Favourable tax treatment for trades on licensed platforms.
Weaknesses:
- A relatively high flat fee.
- A history of regulatory penalties.
- Conflicts around its own coin.
- Spot trading only.
Who Is Bitkub For?
Bitkub is the natural choice for Thai residents who want to trade crypto in baht with the best available liquidity. It suits both beginners and active spot traders within Thailand.
It does not serve users abroad in any practical sense, and traders seeking derivatives or the lowest fees will not be satisfied.
Bitkub Compared With Other Thai and Global Exchanges
Several other licensed exchanges operate in Thailand, including platforms backed by banks, by brokerages and by global groups such as Binance, which runs a licensed local joint venture. They compete with lower fees or tighter integration with banking apps. Bitkub still has by far the most liquidity. For large orders in baht, that advantage outweighs the fee difference.
Global exchanges offer far more products. Under Thai rules they may not solicit Thai customers without a licence.
Tips for Thai Users
- Use limit orders to control your price in less liquid coins.
- Complete the knowledge test honestly; it covers real risks.
- Ignore phone calls asking you to move funds.
- Keep records of trades even where gains are tax-exempt.
- Move long-term holdings to a personal wallet if you are able to manage one safely.
Verdict on Bitkub
Bitkub is the centre of Thailand's crypto market: licensed, liquid and convenient. It has never lost customer funds, and it has improved its systems since the troubles of 2021. Its regulatory penalties and the conflicts around its own coin are part of the picture, as is a fee that remains high. For Thai investors it is a practical and reasonably safe venue for trading, provided they use it with clear eyes.