How to exchange Bitcoin (BTC) to tenge (KZT) – BestChange project blog (2024)

What methods of Bitcoin to tenge exchange are available on BestChange?

Electronic payment systems

This direction of exchange is most suitable in cases when you need to get money instantly with minimal commission costs. In addition, access to electronic payment systems can be easily obtained outside the country of residence, for example, if the user goes to another country.

Banking services may not be available outside the country, so electronic payment systems will be the most versatile option for receiving funds.

On the BestChange website, it is possible to exchange Bitcoin (BTC) to tenge using the following payment systems:

• Volet (formerly Advcash);
• QIWI.

Bank transfers

Bank transfers allow users to withdraw cryptocurrency directly to their bank account. This is the most convenient option, as the funds can be spent or transferred immediately. However, this option has several limitations.

Kazakhstan's Financial Monitoring Agency (FMA) actively blocks services providing cryptocurrency exchange services: in 2023 alone, the regulator restricted access to almost 1,000 such services.

Banks monitor customer accounts closely and can block cards or accounts if suspicious transactions, including those involving cryptocurrency, are detected.

Cash

Another way to exchange Bitcoin for tenge is cash. Cashing is suitable for those who plan to exchange a large amount in cryptocurrency, as exchangers provide quite large transaction limits in this direction.

Bitcoin exchange for cash tenge is available in Astana, Almaty, Aktobe, Karaganda, Kostanai, Shymkent, and Ekibastuz. It should be noted that we are talking about offices. Still, many exchangers provide cash courier delivery services, so it is possible to get cash in other settlements located in close proximity to the above cities. The possibility of delivery to your city can be specified directly on the selected exchanger's website.

How to exchange Bitcoin to tenge: instructions

1. Choosing an exchanger

You must first choose the exchange direction to find all the exchangers suitable for the user. To do this, select Bitcoin in the left column of the BestChange exchange table, and in the right column - one of the available options for getting tenge.

As soon as the desired direction is selected, the site will show a complete list of exchangers corresponding to this user's request. From this list, you must choose the exchanger and go to its website by clicking on the item's name.

2. Creating an application for exchange

After going to the site, a request form will be displayed, in which the user needs to specify the details for receiving the tenge (e-wallet, bank card, or account number). In addition, the user must specify the email address and often the name and surname indicated on the user's card (if the user has chosen the method of sending by bank card or account number).

In some cases, exchangers may ask for other data, including users' personal data, for identity verification, as many of them follow KYC/AML policies. Each exchanger has its own peculiarities, which can be found directly on the service's website.

After the user fills in all the necessary fields of the form, the only thing left to do is to send the application.

3. Sending BTC

As soon as the exchanger accepts the application sent by the user (which usually happens automatically), it will send the Bitcoin wallet address to transfer BTC cryptocurrency. Note that the exchanger may present one of four Bitcoin address options, which are different in appearance but compatible. For example:

1. 18HoT9ZrdtTgG4eLFE9fax4fj48K9w6Dxk is an obsolete (Legacy) address format that is not used often but still occurs. Legacy addresses start with one;
2. 37wozhbxyCMZHhrQnrVcKJ9ud3KC7haiJY — SegWit or Script addresses. A reasonably standard format, which is essentially an improved version of Legacy addresses, allowing for cheaper transactions;
3. bc1qhhz3g6qsumlw8w6n4shwddcdjmthepyze5z748 — these are addresses of the new Native SegWit format, which are used very often, as well as SegWit addresses because they reduce commission costs even more and increase transaction speed. Such addresses start with the characters "bc1q";
4. bc1pvvfg06r9c9m99jgnksmgsu0rhmpcjapqfxexwffjz03uh77704a0q63dzwx is the newest format called Taproot. Taproot addresses look similar to Native SegWit addresses, except they always begin with "bc1p" instead of "bc1q". This format is not particularly widespread; not all exchanges and wallets support it.

You should know that transactions in the Bitcoin network can take quite a long time—up to several hours. Therefore, when transferring cryptocurrency to an exchanger's wallet, you should not set the commission below the average or recommended by the wallet application. If the wallet does not display the average commission, this information can be found in blockchain reviewers such as Blockchair.

It should be noted that exchangers will transfer tenge to the specified details not immediately after the user has sent cryptocurrency but only when a certain number of transaction confirmations in the Bitcoin blockchain is reached (usually within 4). The exact number of confirmations can be found directly on the exchange's website.

You can track the status of a sent transaction in real-time by entering the transaction hash in your browser (Blockchair, OKLink, Blockchain.com).