Remittance Cost Calculator
Send Money to Bangladesh
Calculate how much you save by using P2P crypto instead of traditional remittance services.
Based on 2025 data: Traditional services charge 3-8% fees, P2P crypto typically under 2%.
Important Notice
Remember: Crypto trading in Bangladesh is not legally protected. This calculator shows potential savings, not guaranteed protection. Always use Binance P2P escrow for maximum security.
Despite being officially banned by Bangladesh Bank since 2014, peer-to-peer (P2P) crypto trading is alive and thriving across Bangladesh. Over 3.5 million people are using it-not because theyâre tech rebels, but because it solves a real problem: sending money home. Every year, Bangladesh receives over $21 billion in remittances from workers overseas. Traditional services like Western Union charge 3% to 8% in fees. P2P crypto? Often under 2%. Thatâs why, even with government crackdowns, arrests, and blocked websites, people keep trading.
How P2P Crypto Trading Actually Works in Bangladesh
You wonât find a bank that lets you buy Bitcoin with Bangladeshi Taka. But you can buy it from a stranger using bKash or Nagad. Hereâs how it works in practice:Most traders use Binanceâs P2P platform. You create an account, verify your ID (KYC kicks in if you trade over $1,000), then browse offers from sellers. Say you want to buy $100 worth of USDT. You pick a seller offering it for ৳1,100 per $1 (a 10% premium). You click "Buy," transfer ৳110,000 via bKash, and send the payment screenshot. The platform holds the USDT in escrow. Once the seller confirms receipt, the crypto is released to your wallet. It takes about 8 minutes on average-even during peak hours.
What makes this work? Mobile money. Bangladesh has over 117 million active bKash and Nagad users. These apps are everywhere-villages, markets, rickshaw stands. You donât need a bank account. You just need a phone. Traders use QR codes, UPI-style payments, or even cash deposits at agent kiosks. Itâs fast, familiar, and avoids the banking system entirely.
The Three Main Ways People Trade Crypto in Bangladesh
There are three clear methods, each with trade-offs:- Exchange-based P2P (like Binance, Bybit): Used by 73% of traders. Escrow protection means youâre less likely to get scammed. Binance alone handles 1.2 million monthly trades from Bangladesh. Payment methods? bKash (61%), Nagad (29%), bank transfers (10%). Spreads are 1.2%-3.5% above market price.
- Informal agent networks: These are local people-often bKash agents-who buy and sell crypto for cash. No app needed. You meet them in person, hand over taka, get crypto in return. Spreads are higher (4%-8%), but itâs instant. There are over 12,000 registered agents in Dhaka alone. Risk? Zero protection. If they vanish, youâre out of luck.
- Decentralized exchanges (DEX) like PancakeSwap: Used by only 8% of traders. You need MetaMask, some technical know-how, and BNB for gas fees (about $0.15 per trade). Itâs anonymous, no KYC, no middleman. But if you send crypto to the wrong address? Gone forever. And during peak times, the Binance Smart Chain gets slow.
Most beginners start with Binance P2P. Itâs the safest entry point. Experienced traders mix methods-using DEX for anonymity, agents for cash, and Binance for volume.
Why People Risk It: Real Stories and Real Savings
The numbers tell one story. The people tell another.One user in Chittagong, "CryptoRiderBD," sent $5,000 to his brother in Dubai. Using Western Union, it wouldâve cost $400 in fees. Through Binance P2P, he paid $217. Thatâs $183 saved in one transaction. Heâs done it five times this year.
Another trader, a nurse in Saudi Arabia, uses bKash to send money home every payday. Her sister cashes out via Nagad at a local agent. No delays. No paperwork. No bank waiting times. "I used to wait three days for money to arrive," she said in a Facebook group. "Now itâs 10 minutes. I donât care if itâs illegal-I care that my family eats."
But itâs not all smooth. One trader in Dhaka lost ৳250,000 ($2,300) when an agent reversed the bKash payment after receiving Bitcoin. He had no proof. No recourse. Binanceâs escrow wouldnât help-he didnât use their platform.
Another common issue? Transaction limits. Nagad blocks transfers above ৳50,000 if they trigger fraud algorithms. Users have learned to split payments into smaller chunks-three ৳40,000 transfers instead of one ৳120,000. Itâs annoying, but it works.
The Legal Trap: Youâre Not Protected
This is the biggest risk no one talks about enough.Bangladesh Bank says crypto trading violates Section 33 of the Foreign Exchange Regulation Act. Thatâs not a warning-itâs a criminal offense. In 2022, 17 traders in Dhaka were arrested under Section 411 of the Penal Code for "possessing stolen property." Their crime? Owning Bitcoin.
Thereâs no legal recourse if youâre scammed. No consumer protection agency. No ombudsman. If you send taka and the seller ghosts you, the police wonât help. Banks wonât reverse the transaction. Youâre on your own.
Even using Binanceâs escrow doesnât make you safe from the law. In 2024, Bangladesh Bank ordered banks to freeze any mobile money account that shows suspicious crypto-linked activity. Over 1,800 accounts were frozen in Q4 alone. Your bKash balance could vanish overnight-not because you did anything wrong, but because the system flagged it.
And the crackdowns are getting worse. Between October 2024 and January 2025, authorities raided 87 crypto trading hubs in Dhaka and Chittagong. They seized laptops, phones, and servers worth ৳32 million. The message is clear: the government is watching.
What You Need to Get Started (Step-by-Step)
If youâre new and still want to try it, hereâs how to do it safely:- Create a Binance account. Use a real ID. Donât use a fake name. Youâll need it for KYC if you trade over $1,000.
- Link your bKash or Nagad. Go to the P2P section, select "Buy," pick a seller who accepts your payment method. Follow the instructions exactly. Donât use "Cash In"-use "Send Money" in bKash. Many rejections happen because people pick the wrong option.
- Start small. First trade? Do ৳7,500. Thatâs about $70. Test the process. See how long it takes. Check the sellerâs rating. Look for someone with 98%+ positive feedback and 1,000+ completed trades.
- Enable 2FA. Every single user should. 98% of traders do. Use Google Authenticator, not SMS.
- Join the "Crypto BD Guide" Telegram channel. 47,000 members. They update daily with lists of scam agents, payment issues, and new workarounds. Itâs the most reliable source of real-time info.
Learning curve? Around 17.5 hours for a complete beginner. Most people get stuck on KYC or payment failures. Donât give up. Ask for help in the Telegram group. Someoneâs been there.
The Future: Regulation or Crackdown?
The government isnât ignoring this. In February 2025, they formed a 12-member Crypto Asset Task Force, led by Bangladesh Bankâs Deputy Governor. Their goal? To recommend a regulatory framework by December 2025.Meanwhile, Bangladesh Bank is testing its own digital currency-the CBDC. If that pilot succeeds, it could mean one of two things: either the government embraces digital money and creates legal pathways for P2P trading⌠or it doubles down on banning anything that competes with its own system.
Right now, P2P crypto is growing fast. Volume hit $417 million in Q1 2025-up 38% from last year. Most trades are in USDT because itâs stable. 68% of users are under 35. 83% live in cities. This isnât a fringe movement. Itâs a financial workaround built by millions of ordinary people.
But hereâs the truth: if the government cracks down hard next year, this could collapse overnight. No warning. No transition. Just frozen accounts, seized devices, and arrests.
Until then? People will keep trading. Because for them, itâs not about speculation. Itâs about survival. Itâs about sending money home faster, cheaper, and without begging a bank for permission.
Whatâs Next for Traders?
If youâre already trading:- Donât keep large amounts on exchanges. Move crypto to your own wallet (like MetaMask) after each trade.
- Use only verified agents. Check the Telegram blacklist before meeting anyone.
- Never share your 2FA codes or wallet seed phrases. Ever.
- Keep screenshots of every transaction. Even if you think itâs fine.
- Be ready to walk away if things feel off. If a seller pressures you, if the payment feels rushed, if they refuse to use escrow-stop.
If youâre thinking about starting? Do it small. Learn. Watch. Listen. The community is your best teacher.
Thereâs no legal safety net. No government backing. But there is a network of people-ordinary, resourceful, determined-whoâve built a system that works, despite the rules.
Is P2P crypto trading legal in Bangladesh?
No, itâs not legal. Bangladesh Bank has banned cryptocurrency transactions since 2014 under the Foreign Exchange Regulation Act. Trading crypto using taka violates Section 33. While enforcement is inconsistent, arrests and account freezes have happened. You have no legal protection if youâre scammed.
Can I use bKash or Nagad to buy crypto?
Yes, and most people do. Binance P2P accepts bKash in 61% of trades and Nagad in 29%. You send money through the app, upload a screenshot, and the seller releases crypto. But be careful: banks and mobile wallets can freeze your account if they detect crypto-related activity, even if you didnât do anything wrong.
Which platform is best for P2P trading in Bangladesh?
Binance is the most popular, with 61% market share. It offers escrow protection, bKash/Nagad integration, Bengali support, and high liquidity. Bybit is good for margin trading, and KuCoin has more altcoins. But for beginners, Binance P2P is the safest and easiest option.
How long does a P2P trade take?
On average, 8.2 minutes during peak hours. Most trades finish in under 15 minutes. But during holidays like Eid, delays can stretch to 47 minutes because mobile banking systems overload. Always allow extra time around major festivals.
Whatâs the biggest risk in P2P crypto trading?
The biggest risk is not losing money to a scammer-itâs losing everything to the law. Your bank account can be frozen. Your phone can be seized. You can be arrested. Even using Binanceâs escrow doesnât protect you from government action. The second biggest risk is agent fraud-especially with cash deals. Always use escrow when possible.
Should I use a decentralized exchange (DEX) like PancakeSwap?
Only if youâre technically experienced. DEXs like PancakeSwap donât require KYC and offer anonymity, but theyâre harder to use. You need MetaMask, BNB for gas fees, and the ability to copy-paste wallet addresses correctly. Mistakes cost money. 32% of DEX trades fail due to network congestion. For most people, Binance P2P is safer and simpler.
What should I do if I get scammed?
If you used Binance P2P, open a dispute immediately. Platform support usually responds within 12 hours and can recover funds if you followed the rules. If you dealt with an informal agent? Thereâs no recourse. Report it to the "Crypto BD Guide" Telegram group so others can avoid them. File a police report if you want, but donât expect results. The system doesnât protect crypto users.
Will crypto be legalized in Bangladesh soon?
Not in the near term. The government is focused on launching its own digital currency (CBDC). A task force is working on recommendations for crypto regulation, but their goal isnât to legalize trading-itâs to control it. If they approve anything, itâll likely be tightly restricted, with heavy oversight. Donât expect legalization before 2027, if ever.
This is why innovation happens when people are desperate. No bank? No problem. Just use your phone. đ
I'm from India and I see so many parallels here. UPI, Paytm, and now crypto P2P-itâs the same story. People just want to move money without bureaucracy. The system fails them, so they build their own. Itâs beautiful, really.
I mean, itâs not illegal if no oneâs watching, right? The governmentâs crackdowns are just theater. They know they canât stop it. The real question is why theyâre so afraid of something that helps people.
So let me get this straight-people are risking jail time to save $200 on wire fees? And you call this âsurvivalâ? No, this is financial illiteracy wrapped in a moral loophole. Someoneâs gonna get arrested for using bKash to buy Dogecoin and then weâll all laugh at the headlines.
I tried this last year. Sent ৳45k via Nagad. Seller vanished. Binance said âno dispute possibleâ because I didnât use their âBuyâ button correctly. I was so mad I cried in a parking lot. Donât trust anyone. Not even the platform.
i just want to say thank you for writing this. my cousin in dhaka uses this to send money to his mom every month. sheâs diabetic and needs medicine. he doesnât care if itâs illegal-he cares that sheâs alive. thatâs not rebellion. thatâs love.
Thereâs a quiet revolution happening here. Not in the streets, not in the parliament-but in the quiet glow of a phone screen at 2 a.m., where a young man in Sylhet sends $100 to his sister in Coxâs Bazar, and for a moment, the state doesnât exist. Thatâs the real power of decentralization: it doesnât need permission to be human.
Iâve read a lot about crypto in the Global South. This is the most grounded, least hype-filled piece Iâve seen. Thank you for showing the real trade-offs-the fear, the ingenuity, the quiet courage.
It is profoundly moving to witness how communities, in the absence of institutional support, create their own systems of care and resilience. The fact that individuals are risking legal consequences to ensure their families receive timely financial support speaks not to lawlessness, but to a deeply rooted moral imperative. This is not a workaround-it is a redefinition of financial dignity.
Letâs be honest: if this were happening in the U.S., itâd be hailed as fintech innovation. But because itâs Bangladesh? Itâs âillegal.â The hypocrisy is staggering. We celebrate blockchain in Silicon Valley and criminalize it in Dhaka. Same tech. Different continent. Different moral calculus.
So what happens when the CBDC launches? Do they just replace bKash with a state-run wallet? Or do they let people keep using crypto as long as they pay taxes? Iâm betting on the latter. Governments donât kill innovation-they tax it.
I love how everyone acts like this is some kind of underground rebellion. Nah. Itâs just capitalism with a better UX. People donât care about decentralization-they care about speed, cost, and reliability. If the bank took 8 minutes and charged 0.5%, this wouldnât exist. Itâs not ideology. Itâs convenience. đ¤ˇââď¸
Iâm so proud of these people. Theyâre not criminals. Theyâre engineers of survival. Every time someone sends money home via bKash, theyâre building a new kind of bank-one that doesnât ask for paperwork, doesnât judge, and doesnât look away. đŞâ¤ď¸
The most heartbreaking part? The people who get arrested arenât the big operators. Theyâre the nurses, the drivers, the students trying to help their parents. The system punishes the vulnerable for trying to survive. And the people who profit from the status quo? Theyâre never touched. This isnât about law. Itâs about power.
Beginners: Start with $70. Test the flow. Watch the sellerâs history. Use 2FA. Save screenshots. Join the Telegram group. Youâll be fine. This isnât gambling-itâs a skill. And like any skill, it gets easier with practice.
Oh wow. So the solution to Bangladeshâs financial exclusion is⌠using a foreign platform thatâs technically illegal, with no recourse, and relying on strangers who could vanish? And you call this âinnovationâ? I call it a disaster waiting for a headline. The next time someone gets arrested for trading crypto, donât come crying to me about âfreedomâ.
Iâm so glad you included the real stories. Not the stats. Not the spreads. The nurse who just wants her family to eat. Thatâs what matters. We can debate legality all day-but we canât debate humanity.
Iâve been trading P2P for 3 years. Used to be scared. Now I just laugh. The governmentâs trying to stop a tide with a broom. They donât get it-this isnât about Bitcoin. Itâs about dignity. And dignity doesnât need a license.
This is why America needs to stop pretending itâs above this. Weâve got people using Cash App to send crypto to Mexico. Weâve got people in Puerto Rico using USDT to pay rent. Weâre all just trying to bypass broken systems. But somehow, when itâs Bangladesh, itâs âillegal.â When itâs us? Itâs âfinancial freedom.â Hypocrites.