According to an update from the Bangkok Post on March 12, Thailand's Securities and Exchange Commission (SEC) has authorized asset management companies to establish private funds for investing in spot Bitcoin exchange-traded funds (ETFs). However, these funds are only accessible to institutional and ultra-high-net-worth investors. This move signifies a further easing of Thailand's cryptocurrency trading regulations.
Lately, I've been fielding an increased number of inquiries from friends about the crypto market and the digital nomad lifestyle in Thailand, particularly since the country is now in its peak travel season. I've previously shared some tips for digital nomads in Bangkok and Chiang Mai on Xiaohongshu (a Chinese social media platform). Below, in this article I share with you insights, tips, and advice on the crypto nomad life in Bangkok.
Why Choose Thailand as a Crypto Nomad?
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Wide adoption to Web3/Crypto: Thailand's ever-growing embrace of crypto and frequent industry events create an appealing atmosphere for crypto enthusiasts. Bangkok ranks first in popularity among global nomads, according to the Nomad List website, and Chiang Mai comes in 11th.
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Low Cost of Living: The low cost of living in Thailand is advantageous for digital nomads. This allows for geographic arbitrage, where one can earn wages from China or the West countries while enjoying a superior quality of life in Thailand.
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Unique Culture and Pleasant Living Environment: Boasting a rich Buddhist heritage and renowned as the Land of Smiles, Thailand has been attracting many people from all over the world coming here to find best life style. With its stunning landscapes and warm climate, Thailand offers serene beach and mountain retreats, as well as vibrant city centers, making it easy to strike a work-life balance that suits different preferences, whether one seeks tranquility or excitement.
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Flexible Visa Policies: Thailand's visa policies are accommodating and friendly to crypto nomads, who can easily apply for long-term residency visas with minimal requirements. For instance, Chinese citizens can directly obtain 2-3 months visas upon arrival.
How's the Crypto Market in Thailand?
Thailand's cryptocurrency market is still in its nascent stages, with Centralized Exchanges (CEXs), Decentralized Exchanges (DEXs), and projects like NFTs playing a crucial role in shaping it. However, these entities have a considerable journey ahead before they can become top-tier players in the industry.
I would say the Chinese market has managed to stay ahead of Thailand, and indeed most Asian countries, in exploring the cryptocurrency field. Despite its stricter regulatory environment, China is home to many pioneering projects, characterized by an intense drive for technological innovation.
However, Thailand does have its strengths, including favorable policies and the vigorous support that professional incubators and investors provide to local projects. For example, SCB10X routinely hosts events such as hackathons and funding rounds, selects promising projects, and provides a broad range of support from financial resources to office space.
Key Players in Thailand's Crypto Ecosystem
Cryptomind has compiled a comprehensive report (To download the PDF) on Thailand's crypto ecosystem, including a detailed map featuring crypto incubators, capitals, centralized and decentralized platforms, projexts like NFT, GameFi, and Metaverse, and even major communities and influencers.
Here are a few for your reference:
1️⃣ Bitkub: One of Thailand's major licensed CEXs by the SEC, with over 70% market share. Despite their strong market presence, their offline service reviews are surprisingly poor 😂 , with users mostly giving them one-star ratings.
2️⃣ Arken Finance: A DeFi aggregator platform supporting multiple chains, which completed its IDO not very long ago.
3️⃣ Alpha Venture DAO: A venture firm previously known as Alpha Finance Labs that focuses on early-stage and fundraising projects. The team includes members who previously worked at Coinbase, Crypto.com Capital, and SCB10X.
4️⃣ KillSwitch Finance: A multi-chain aggregator platform that also participated in an offline event on May 19.
big players in Thailand crypto market
For more detailed information, you can refer to belowed Thailand crypto ecosystem map.
Thailand crypto ecosystem
Crypto Events & Organizations in Bangkok
1️⃣ SCB10X
An incubator and capital under Thailand's SCB bank, which invests in projects like Alpha, Anchor and Nansen. They have a public co-working space (Location: DISTRICTX, Bangkok), offering free office space for cryto project teams. They regularly organize both online and offline events and hackthons.
A regular meetup event initiated by Boswell Digital Holding, with updates on their FaceBook page. Their recent offline gathering was on the 27th.
Organized by Thailand's largest crypto news FaceBook page. You canjoin their community by searching "Bitcoin Addict Community". Their recent offline event on 19th focused on blockchain security.
4️⃣ Bangkok DAO
A DAO community initiated by Chinese team. They have a public co-working space in Bangkok and organize offline events periodically. Location: L Seven Cafe, 095 335 2709, Open hours: 12:00-24:00.
5️⃣ Several crypto Cafés ☕️:
🔻 FOMO BKK: Regular offline gatherings, with a good atmosphere.
🔻 The Moon Crypto & NFT Cafe: A combined café, workspace, and event space. Affordable pricing, event announcements displayed on screens in the café.
🔻 Sobta Café & CoWorkspace: Thailand's first NFT café, small but charming.
Accommodation
Recommend staying in residential areas near the Grand Palace, with a similar vibe to Shanghai's Jing'an District, offering a mix of liveliness and tranquility. Walking distance to the Chao Phraya River.
Living cost in Bangkok (source: Digital Nomad World)
Workspace
Prince Vivadhanajaya Library
I would strong recommend public libraries in Bangkok, such as
🔻 Bangkok City Library
🔻 Prince Vivadhanajaya Library
Google Map search "public library" for nearby options. City libraries are usually well-equipped and free to the public. Bring your passport for free Wi-Fi access. University libraries may charge a small fee but are open to foreigners. Libraries are quieter than cafes, allowing for book browsing and potentially meeting local students.
Option NO.2: Co-working spaces:
Bangkok's co-working business is mature, offering many choices various co-living & working spaces with comprehensive facilities. Monthly rent usually charges less than $1,000. These spaces include all amenities and run a digital nomad community, although they may be pricier than regular apartments. Day passe are available for occasional use.
Option NO.3: Private apartments & guesthouses
Book apartments or guesthouses with good Wi-Fi and workspace if you prefer staying in. You may get high electricity bills in peak season, especially if using air conditioning while working from home. Guesthouses typically include electricity in the rent.
Option NO.4: Quiet cafes ☕️:
Bangkok has a vibrant café culture, with many riverside cafes like Forest Café worth visiting. Avoid crowded tourist spots; opt for inconspicuous cafes frequented by locals for a quieter environment. Thai coffee shops rarely disappoint you. You have to try Thai-style coffee called "Es Yenn". Prices: Touristy spots charge around 200TB for a coffee, while local cafes charge 50-80TB with no compromise on taste.
Final Words
Overall, I had a great time in living in Bangkok as a crypto nomad. Do recommend to consider Bangkok as your first city if you are planning your nomad life.
Hey there! I'm KAS, your global crypto/web3 enthusiast! Ditched the corporate life for the thrilling world of web3 in 2021 and haven't looked back since. Now, I'm steering the ship in the web3 market. Excited to share with you all about my adventures in this amazing industry and my digital nomad life!
You can find me at
Telegram: @KasperSone
Telegram group：KAS的web3信息交流群
xiaohongshu ：GO WEB3 WITH KAS
Substack: The Web3 Journal
