You can now buy cryptocurrency feeling secure by utilizing the services of Paypal and advice from SEC as to which companies to trade with and not. In May, Thailand’s main crypto regulator, Securities and Exchange Commission, began its function and only the authorized crypto operators by the SEC could operate Crypto business.
The SEC has not fully, but only temporarily approved six of the digital asset issuer or operator companies. The six approved companies include Bitcoin Co. Ltd. (Bx), Cash2coins, Bitkub Online Co. Ltd., Coin Asset Co. Ltd., Satang Corporation (Tdax), and Southeast Asia Digital Exchange Co. Ltd. (Seadex). And the last one, Coins Th has been approved as a crypto dealer.
Tdax rebranded as Satang Pro in September, is currently developing a new wallet which will be the first digital asset payment platform and provide buying, selling and paying for utility services in Thailand. It is assumed to take the priority in mobile phones and gift cards.
Besides advising which companies to trade with, SEC has also warned against a few unauthorized companies. The 14 unauthorized websites include payniex.com, thaiexchanger.com, misterchanger.com, egtexchange.com, superrichexchanger.com, digicardshop.com, emoneythai.com, i-exch.com, gamershoppings.com, exchangercoin.com, ecurrencyplus.com, lnwexchanger.com, ecurrencythailand.com, and R Exchange’s Facebook page. After the warnings by the SEC, some of the companies have removed their crypto offerings, as reported on Bitcoin News.
Besides receiving the guidance of the SEC to help people trade online a few reputable online services have come up to add to the convenience of trading experience. VirWox is a virtual exchange for digital currencies started in 2007. VirWox is helpful as Paypal doesn’t support Bitcoin personally, but their platform may still be used to buy Bitcoin. A third party that specializes in such transactions can be used as a medium to buy bitcoin. Paypal freezes accounts for 180 days if they feel that their terms are being violated. Paypal and Bitcoin both have attracted a lot of scammers so to avoid the situation, Paypal has banned Bitcoin. VirWox uses Linden Dollars that can be purchased on the platform using PayPal or a credit card. The digital currency Linden dollars use is used in the video game Second Life and was added on the platform in 2011, as observed by Coin Central.
So with the support of the online payment service and advice from SEC on which authorized companies to trade with, one feels more assured to buy cryptocurrency.[The views and opinions expressed in this article are those of the authors and do not necessarily reflect the views and/or the official policy of the website. ]