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  • Zaza27
  • Newgookin

    • 2

    • April 19, 2021, 07:00:08 pm
    • Seogwipo-si
Buying Crypto in Korea ?
« on: November 01, 2021, 12:10:46 pm »
Good day I hope you guys are well.


Can foreigners buy crypto with their Korean bank cards ?

I wish to do this but Im just worried  that I will get a phone call telling me that its somehow illegal .


Thanks for your help in advance  ;D






  • hangook77
  • The Legend

    • 4548

    • September 14, 2017, 09:10:12 am
    • Near Busan
Re: Buying Crypto in Korea ?
« Reply #1 on: November 01, 2021, 01:27:26 pm »
Good day I hope you guys are well.


Can foreigners buy crypto with their Korean bank cards ?

I wish to do this but Im just worried  that I will get a phone call telling me that its somehow illegal .


Thanks for your help in advance  ;D






No, check my previous topic post.  Foreigners are effectively blocked from buying any crypto in Korea nowadays  Check FTX and see about wire transfers (maybe from your home country bank account and not the Korean one?).  I haven't tried it yet as I had money built up in Korea and transfered it from Gopax when the exchanges here blocked foreigners and bacame more racist.  I did a wallet to wallet transfer from Gopax to FTX.  I was able to previously buy crypto with KRW.  But if foreigners were to make money off this enxt year, well, Korean racists simply won't stand for that.  Foreign teachers are to be poor and underpaid no matter what nowadays. 


  • Zaza27
  • Newgookin

    • 2

    • April 19, 2021, 07:00:08 pm
    • Seogwipo-si
Re: Buying Crypto in Korea ?
« Reply #2 on: November 01, 2021, 04:44:36 pm »
No, check my previous topic post.  Foreigners are effectively blocked from buying any crypto in Korea nowadays  Check FTX and see about wire transfers (maybe from your home country bank account and not the Korean one?).  I haven't tried it yet as I had money built up in Korea and transfered it from Gopax when the exchanges here blocked foreigners and bacame more racist.  I did a wallet to wallet transfer from Gopax to FTX.  I was able to previously buy crypto with KRW.  But if foreigners were to make money off this enxt year, well, Korean racists simply won't stand for that.  Foreign teachers are to be poor and underpaid no matter what nowadays.


Thank you so much for your response I just noticed that kucoin strangely enough gives you the option to pay in Korean won whilst using a credit card . I was just about to buy some crypto through it but chickened out in the fear NH would call me   :blank: :blank: :blank:


  • hangook77
  • The Legend

    • 4548

    • September 14, 2017, 09:10:12 am
    • Near Busan
Re: Buying Crypto in Korea ?
« Reply #3 on: November 02, 2021, 07:49:26 am »


Thank you so much for your response I just noticed that kucoin strangely enough gives you the option to pay in Korean won whilst using a credit card . I was just about to buy some crypto through it but chickened out in the fear NH would call me   :blank: :blank: :blank:

kucoin?

I never heard of that one.  Give it a try.  It will accept or reject you.  If it goes through then it is approved.  If it isn't approved that means they are already preprogrammed through algorithms to reject or disapprove.  Try it and let me know here.  I still have crypto abroad as I already mentioned, but since Sept 24th here, have not been able to buy any locally via KRW.  If there is an option, I'd love to know. 

As for whether it is approved or not, I tried to buy some crypto for coinbase last year via my TD VISA from Canada and it got declined because the bank doesn't accept crypto purchases.  Then, I tried RBC VISA and it would have worked but it wanted a Canadian cell number to send an sms code, which I did not have.  (My Canadian cards for a froeign crypto site.)  Either way, I assume the same with your bank card here.  It will either be rejected or accepted automatically.  No one will call you one way or the other. 

It is worth signing up for FTX even if you are not going to use it at this time.  I keep everything there for now.  If crypto takes off next year, I can do a wire transfer direct to my bank account in Canada from there.  Not sure if you kept your accounts open back home or not.  I don't 100% trust Korea so I keep home as a plan B even though I have been here for years.


  • pkjh
  • The Legend

    • 2181

    • May 02, 2012, 02:59:44 pm
    • Asia
Re: Buying Crypto in Korea ?
« Reply #4 on: November 02, 2021, 08:07:38 am »
As for whether it is approved or not, I tried to buy some crypto for coinbase last year via my TD VISA from Canada and it got declined because the bank doesn't accept crypto purchases.  Then, I tried RBC VISA and it would have worked but it wanted a Canadian cell number to send an sms code, which I did not have.  (My Canadian cards for a froeign crypto site.)  Either way, I assume the same with your bank card here.  It will either be rejected or accepted automatically.  No one will call you one way or the other. 
From what I know all Canadian banks have blocked credit card crypto purchases. It was good until like mid-2019, that's when the banks started blocking purchases.


  • hangook77
  • The Legend

    • 4548

    • September 14, 2017, 09:10:12 am
    • Near Busan
Re: Buying Crypto in Korea ?
« Reply #5 on: November 02, 2021, 09:33:52 am »
From what I know all Canadian banks have blocked credit card crypto purchases. It was good until like mid-2019, that's when the banks started blocking purchases.

They are blocked now and using can't use a debit card.  One of my cousins in Alberta told me Trudeau blocked it.  I did try late last year and early this year.  RBC would have let me but wanted a Canadian cell (which I didn't have).  TD bank blocked it outright.  But now it's all blocked.  My cousin was buying then.  I told him to get onto FTX.  I don't think wire transfers are illegal.  But they are most inconvenient.  Credit and Debit cards are very convenient.  Bank transfers of KRW in Korea to GOPAX was also convenient.  But the racists in Korea don't want foreigners making any money.  I stashed my crypto from GOPAX onto there after September 24th when it became useless in Korea.