The status of cryptocurrencies in Azerbaijan lies in a grey area. Like many other regions around the globe, digital assets are neither recognized nor banned in Azerbaijan. Crypto enthusiasts in the West Asian nation are hopeful that lawmakers will legalize cryptocurrencies in 2025.

To make the process easy, we have prepared this step-by-step guide to buying crypto in Azerbaijan. Learn how to buy crypto in Azerbaijan and find out which method of buying crypto in Azerbaijan suits you best.

Buy Crypto & Bitcoin in Azerbaijan: Summary

In this guide, we’ve put together a list of trusted crypto exchanges and platforms where you can buy cryptocurrencies in Azerbaijan. Our list features some of the most reputable names in the industry, such as Binance, OKX, BingX, and KuCoin. Those of you interested in permissionless crypto trading will be happy to learn that we have included Best Wallet – a non-custodial crypto wallet that can be used on decentralized exchanges (DEX) – on the list.

By the time you finish reading this article, you will have a clear understanding of how to buy Bitcoin using a credit or debit card in Azerbaijan. We’ll also explore related topics such as peer-to-peer (P2P) crypto trading, Azerbaijan crypto regulations, and more.

Azerbaijan Guide on How to Buy Crypto?

Are you looking to purchase your first crypto but feel unsure about how to? While we do not recommend beginners to dive headfirst into crypto, we would like to remind newcomers that most of us took baby steps into our crypto investment journey.

Key Takeaways

• Azerbaijan has not established crypto laws yet. Crypto users hope that 2025 will be the year that Azerbaijan recognizes cryptocurrencies.

• CEXs are the most convenient place for beginners to buy and sell crypto.

• Decentralized exchanges are best suited for intermediate crypto users who value privacy and permissionlessness.

• Best Wallet allows self-custody of assets, which helps mitigate risks associated with exchange hacks and bankruptcies.

• According to Freeman Law, revenue from trading or selling virtual currency is generally considered subject to taxation in Azerbaijan.

There are multiple ways to purchase cryptocurrencies, two of the most popular methods are through centralized exchanges (CEX) and decentralized exchanges (DEX). CEXs are the most convenient place for beginners to buy and sell crypto, regardless of where they are based, be it Australia, Europe, or Asia. DEXs are popular among crypto users who hold their tokens on-chain and those who champion the principles of decentralization and permissionlessness.

1. Best Wallet

Best Wallet is a non-custodial crypto wallet that is available for download on Android and iOS smartphones. Unlike centralized exchanges, where a third party holds your crypto assets, Best Wallet gives you complete control and ownership over your digital assets by storing private keys locally in your device.

Self-custody mitigates the risks associated with exchange hacks and bankruptcies, as seen in the collapse of the FTX Exchange in 2022, when thousands of customers were unable to withdraw their cryptocurrencies from the exchange.

Best Wallet users can also take advantage of the rich features, such as an in-built DEX aggregator and token launchpad. Crypto users in Azerbaijan will also appreciate that Best Wallet does not compromise on security and provides industry-standard protection through two-factor authentication (2FA), biometric verification, and Fireblocks third-party insurance. You can learn more all about this popular non-custodial wallet in our comprehensive Best Wallet review.

Source: Best Wallet

How to Buy Crypto Using Best Wallet in Azerbaijan

Here is a simple step-by-step guide that will teach you how to buy crypto using Best Wallet:

• On your smartphone, open Google Play or App Store and download the Best Wallet app.

• Set up your Best Wallet account. Enable biometric authentication and create a strong PIN.

• On the home page, select or search for the cryptocurrency that you want to buy.

• Tap on the “Buy” button.

• Enter the amount of money you want to invest.

• Review the exchange rate.

• Select your payment method.

• Tap on “Buy.” Your coins will be credited to your wallet soon.

Best Wallet Key Features

Best Wallet is popular among crypto users for its easy interface and rich features. This mobile crypto wallet is a perfect crypto management tool that allows you to manage and trade your digital assets, conduct cross-chain swaps, and participate in decentralized finance (DeFi) activity.

• Non-custodial: Users can mitigate risks such as crypto exchange failure by keeping complete ownership over their assets by using Best Wallet.

• Multi-chain: It can connect to multiple blockchains such as BTC, Ethereum, BNB Chain, Polygon, and Base.

• Onchain trading: Crypto traders can use an in-built DEX on Best Wallet to trade tokens on-chain.

• Token launchpad: It also features a token launchpad that gives users exclusive access to crypto presales.

Pros

• Free: Best Wallet is free to download on Android and iOS devices.

• Non-custodial: It is a non-custodial crypto wallet that gives users complete ownership of their cryptocurrencies.

• Multi-chain: Traders can buy and sell cryptos across different blockchains such as Ethereum, BNB Chain, and Polygon.

• Security: Best Wallet is protected by robust security features such as biometrics, 2FA, and an auto-lock timer.

Cons

• Single platform: Best Wallet is only available as a mobile application and is not available as a browser extension.

• Customer support: It has limited customer support, so users might find it challenging to resolve their issues instantly.

• Trading features: Advanced trading features are still under development.

2. CoinFutures

CoinFutures is a crypto futures trading platform designed for users who want to speculate on short-term price movements of popular cryptocurrencies. With its intuitive, gamified interface, CoinFutures has emerged as one of the best platforms for beginners exploring crypto futures trading. Few exchanges make crypto futures trading this accessible and engaging.

One of the standout features of CoinFutures is its high leverage availability of up to 1000x. This means users can open larger positions using borrowed funds, potentially amplifying gains. However, trading with leverage also increases the risk of significant losses, making proper risk management essential.

CoinFutures’ gamified approach helps simplify complex trading concepts, making the learning curve much easier for new traders. For a deeper dive into this leverage trading platform, check out our CoinFutures Review.

How to Buy Crypto Using CoinFutures Wallet in Azerbaijan

• On CoinFutures’ official website, create an account by entering your name and email address.
  

• Download the CoinFutures app. It’s available for Windows laptops, MacBooks, and Android smartphones.
  

• Fund your account with crypto (USDT, BTC, ETH) via on-chain transfer or deposit using a credit card, Apple Pay, or Google Pay.
  

• Navigate to the Crypto Futures or Trade section on the platform.
  

• Select the cryptocurrency you want to trade.
  

• Choose your position type: Long (if you expect the price to go up) or Short (if you expect it to go down).
  

• Set your leverage level, up to 1000x.
  

• Enter order details including amount, price, and order type.
  

• Review all fees, funding costs, and your order summary.
  

• Confirm and submit your trade order.
  

• Manage your position using stop-loss or take-profit tools.
  

• Close your position manually or let it close automatically.
  

CoinFutures Key Features

• 1000x Leverage: CoinFutures offers leverage up to 1000x on its platform.

• Gamified Interface: The platform’s futures trading is gamified to make it easy to start trading crypto futures.

• Fiat onramp: Users can easily fund their accounts using debit/credit cards and other popular methods on CoinFutures.

• No KYC: CoinFutures does not require users to complete KYC verification, which makes onboarding swift and hassle-free.

• Risk management tools: You can automate trades and manage risk using stop-loss and take-profit orders.

Pros

• No KYC is needed during CoinFutures onboarding.

• Use of leverage opens up the opportunity to take large market positions with limited capital.

• Gamified experience on CoinFutures makes crypto futures trading easy to understand.

• You can use risk management tools to manage your trades better.

Cons

• CoinFutures offers a simulated market experience that mimics crypto volatility. It’s not a real trading platform.

• The platform supports a limited number of cryptocurrencies.

• The app is not currently available on iPhone.

3. Binance

Let’s kick off our list of the best crypto exchanges in Azerbaijan with Binance, the world’s largest crypto exchange by trade volume.

Founded in 2017 by Changpeng Zhao and Yi He, Binance has grown to become an influential player in the crypto industry. Its products encompass public blockchains, DeFi, non-custodial crypto wallets, and crypto staking. To sum up, Binance is one of the most comprehensive platforms in the industry, allowing users to trade tokens, stake assets, participate in token launchpads, and explore DeFi protocols, all on one platform.

For a deeper dive into the platform, check out our full Binance Review to understand why it is considered one of the best cryptocurrency exchanges in the world/

Source: Binance

How to Buy Crypto With Binance in Azerbaijan?

Binance makes it easy for users to convert their fiat to crypto by allowing payments via credit or debit card, Apple Pay, and bank transfers. Here is a simple step-by-step on how to buy Bitcoin and other cryptocurrencies in Azerbaijan:

• Create a free account with Binance on its website or smartphone app.

• Register your account using your email and phone number.

• Complete KYC verification to unlock all use cases of the Binance App.

• Click on the “Trade” button at the bottom of your screen and tap “Buy/Sell.”

• Select your desired currency.

• Select the crypto you want to purchase and enter the amount of crypto you want to buy.

• Choose your payment method.

• Click “Confirm” to place your order.

Binance Key Features

Binance aims to be a one-stop shop for crypto users by providing a platform that lets users trade altcoins, convert fiat to crypto, stake assets, participate in margin trading, and earn airdrop rewards. Let’s check out all the exciting features available to Binance users:

• Peer-to-peer (P2P) trading: Binance is popular because it lets users trade cryptocurrencies in a peer-to-peer manner.

• In-app non-custodial wallet: Users can easily create a non-custodial on-chain wallet on the Binance mobile app.

• Derivatives trading: Users can trade perpetual futures contracts with up to 125x leverage to speculate on market volatility and hedge positions.

• Binance Launchpool: BNB token holders are eligible to participate in initial exchange offerings listed on Binance for upcoming crypto projects.

• Binance Vault: BNB token holder can stake their tokens to earn interest and Binance Launchpad airdrops.

Pros

• Over 400 listed cryptos: Trade from a rich pool of over 490 cryptocurrencies and more than 1900 trading pairs.

• Highest liquidity: Deep liquidity and high trading volume allow quick order execution and low spreads.

• Professional trading tools: Use advanced trading tools such as stop-loss orders, take profit orders, analytical charts, trading bots, and time-weighted average price strategies.

• BNB token discounts: BNB token holders can avail of discounted trading fees.

• Non-custodial wallet: Create a non-custodial wallet within the Binance App.

Cons

• May not be beginner-friendly: Some parts of Binance’s interface may be advanced and overwhelming for beginners.

• Regulatory risk: Faced legal challenges and regulatory scrutiny in the past due to the changing crypto laws around the world.

• KYC verification: Requires all customers to complete KYC verification, which may put off those who prefer anonymity and privacy.

• Exchange failure risk: Managing crypto on Binance might make customers vulnerable to exchange failure risks, bankruptcies, and hacks.

4. OKX

Up next is OKX, which is one of the most well-known cryptocurrency exchanges in the world. The platform, formerly known as OKEx, was founded in 2017 by Chinese entrepreneur Star Xu. Today, OKX has expanded to over 100 countries and boasts industry-leading numbers in terms of active users and trading volume.

The platform is popular among crypto users for its rich trading features, wide variety of token listings, staking services, and DeFi integrations. OKX users also appreciate the zero trading fees on OKX’s crypto-to-crypto swaps. The platform has a native token called OKB that gives holders discounts on trading fees.

You can learn all about the exchange in our dedicated OKX review.

Source: OKX

How to Buy Crypto With OKX in Azerbaijan?

Now, let’s learn how to buy Bitcoin and other cryptocurrencies on OKX. Here is a step-by-step guide for you:

• Create an account on OKX by registering your email address and phone number.

• Complete KYC verification process.

• Open your OKX app and head to “Buy and Sell.” Tap “Buy.”

• Select the crypto you want to buy.

• Enter the crypto amount you want to buy and change the payment method to “Debit card.”

• Select “Add card.” Provide your card details and billing address so you can add your debit card.

• Now, select the card you’d like to use to complete your purchase. Tap “Place order.”

• Your account will be credited with your newly bought crypto once you complete the payment.

OKX Key Features

OKX’s feature-rich platform has become incredibly popular among the crypto faithful. Here are some of the key features that you need to know before you choose the exchange:

• Feeless crypto swaps: OKX allows users to convert one crypto to another for zero trading fees.

• OKB token: OKB is the platform token of OKX that can be used to avail trading fee discounts.

• Earn products: OKX Earn is a program that lets users earn passive income by staking their cryptocurrencies.

• Derivatives trading: Crypto traders can conduct futures, options, and pre-market futures trading alongside spot trading on OKX.

• Proof of Reserves: The exchange maintains a 1:1 reserve of cryptocurrencies and consistently shares proof of reserves reports.

Pros

• Feeless crypto swaps: Crypto-to-crypto conversions on OKX do not cost trading fees.

• Advanced trading features: Professional traders have a variety of trading products to choose from, including spot, margin, futures, and options trading.

• Proof of reserves: Regularly publishes proof of reserve audit reports.

Cons

• Exchange risk: Users are vulnerable to exchange failure risks since the exchange manages and custodies customer funds.

• Regulatory challenges: Regulatory challenges faced by centralized exchanges such as OKX could affect the company’s ability to offer crypto exchange services to its customers.

• Limited global access: It is unavailable in popular crypto markets such as the U.S. and Canada.

5. BingX

BingX might not be as big as Binance, Coinbase, or Kraken, but this Singapore-based exchange is quickly gaining attention for its compliance-focused approach and high-profile sponsorship with global names such as Chelsea Football Club.

BingX is a crypto exchange created to deliver a user-centric experience for smooth and efficient crypto trading. The exchange is known for offering trading fees as low as 0.1% on maker and taker trades on its exchange. The platform offers a wide range of crypto services such as derivatives trading, copy trading, and asset management, designed to meet the needs of both experienced and beginner crypto investors.

Are you interested in learning more about BingX? Check out our comprehensive BingX crypto exchange review.

Source: BingX

How to Buy Crypto With BingX in Azerbaijan?

BingX allows customers to use both Visa and Mastercard payments via credit or debit card to buy Bitcoin and other cryptocurrencies. In this step-by-step guide, we explain how to buy Bitcoin and other cryptocurrencies using a debit card or credit card in Azerbaijan:

• Create an account on BingX using your email address and phone number.

• On the home page, click on “Buy Crypto.”

• Click on “Quick buy” when a pop-up appears on your screen.

• Choose the fiat currency you want to pay with and the crypto token you want to buy.

• Enter the payment amount or the amount of cryptocurrency you want to buy, then click “Buy”.

• On the payment options, click “Apple Pay,” “Google Pay,” or “Credit Card.” Then, agree to the terms of use and click “Pay.”

• Verify your identity by completing KYC verification.

• Complete the payment.

BingX Key Features

BingX has made a name for itself by being one of the first exchanges to offer social trading products. The platform continues to introduce new and innovative features to its users with the aim of providing the best experience for beginner as well as experienced traders.

• Copy trading: Best suited for beginners, copy trading allows users to copy the trading strategies of experienced and professional crypto traders.

• Derivatives trading: Trade perpetual futures contracts and standard futures contracts on hundreds of crypto trading pairs.

• Grid trading: Grid trading automatically buys tokens at low prices and sells at high prices.

• Stablecoin rewards: USDT Stablecoin rewards can be earned for completing tasks such as signing up and completing KYC verification.

Pros

• User-friendly: BingX caters to both beginners and advanced users with its intuitive mobile and web platforms.

• Rich altcoin selection: Over 700 cryptocurrencies and trading pairs, such as BTC, Ether, Litecoin, and Solana, are listed on BingX.

• Low trading fees: Spot trading fees start at around 0.05%–0.10%, which is further reduced for high-volume traders.

• Copy trading and automation features: Users can replicate the strategies of professional crypto traders using copy trading, while grid trading strategies automate the process of buying low and selling high to help maximize profits.

Cons

• Custodial risk: The exchange stores, manages, and custodies crypto assets, leaving customers vulnerable to company bankruptcies and hacks.

• Regulatory challenges: The Azerbaijan government’s unfavorable regulations might make it challenging for BingX to provide its services to users in the country.

6. KuCoin

Completing our list of the best crypto platforms in Azerbaijan is KuCoin, a crypto trading platform known for its wide selection of listed assets and extensive support for regional fiat currencies. It supports over 45 fiat currencies and has about 950 listed cryptocurrencies.

The platform is also home to a vibrant P2P market where users can buy cryptocurrencies from merchants in a peer-to-peer manner. Like Binance and OKX, KuCoin has a platform token called KCS, which can be used to avail trading fee discounts, staking bonuses, and withdrawal fee rebates. Read our detailed KuCoin review to learn all about this cryptocurrency trading platform.

Source: KuCoin

How to Buy Crypto With KuCoin in Azerbaijan?

Are you interested in learning how to buy cryptocurrencies in Azerbaijan using KuCoin? Here is an easy step-by-step guide:

• Create a KuCoin account by registering your email address/phone number and country of residence.

• Verify your identity by uploading the required ID documents.

• Add your credit card, debit card, bank transfer or other payment methods to buy cryptocurrency.

• After your account is ready, go to the KuCoin website or app and head to “P2P trading.”

• KuCoin P2P supports the following cryptocurrencies: BTC, ETH, USDT, USDC, and KCS. Choose the cryptocurrency you want to buy.

• Choose the merchant you want to trade with depending on their payment methods and exchange rates.

• Enter the amount of crypto you want to buy.

• Tap on “Place order.”

• Pay using the agreed-upon payment method.

• After you’ve made the payment, upload the proof of payment, and click the “Confirm Payment” button on the order page to notify the merchant.

• Once the merchant marks the trade complete, the crypto will be credited to your KuCoin account.

KuCoin Key Features

KuCoin has features that can match any other centralized crypto exchange in the world. Here is a summary of its key features so you can assess whether it meets your needs.

• Fiat currency support: KuCoin supports more fiat currencies (45+) than its rivals, such as Binance (10+), Kraken (5+), and Coinbase (3).

• P2P trading: Users can buy and sell cryptocurrencies on KuCoin in a peer-to-peer manner, which complements the platform’s extensive regional fiat currency support.

• Advanced trading tools: KuCoin offers advanced trading features such as margin trading, derivatives trading, trading bots, options trading, and leveraged tokens.

• KCS Token: KCS holders can avail benefits such as trading fee discounts, staking bonuses, and withdrawal fee rebates.

Pros

• Rich altcoin selection: Over 900 cryptocurrencies are listed on KuCoin.

• Extensive fiat currency support: Among the top 10 crypto exchanges in the world, KuCoin supports the most fiat currencies.

• Trading features: Margin trading, futures trading, and options trading are available to traders who want to speculate on market volatility and hedge their portfolios.

• KCS token benefits: KCS holders can get transaction fee discounts, staking bonuses, and withdrawal fee rebates.

Cons

• Legal trouble: The exchange has been prosecuted in the U.S. and warned by authorities in Canada, the Netherlands, and the United Kingdom for not complying with securities law.

• Custodial: KuCoin custodies customers’ crypto assets, leaving them vulnerable to exchange failure risks and hacks.

Additional Methods to Buy Crypto in Azerbaijan

Crypto users have a plethora of ways to buy cryptocurrencies in Azerbaijan. Your choice ultimately depends on crypto principles and your expertise level. A centralized crypto exchange is probably the best place to buy cryptocurrencies if you are doing it for the first time. These exchanges are known for their ease of use and support for fiat currencies, including the Azerbaijani Manat (AZN).

Decentralized exchanges are best suited for intermediate crypto users who value privacy and permissionlessness. Anyone with a self-custodial crypto wallet can use DEXs. Users don’t have to give away their personal information, so if you are looking to buy Bitcoin without KYC in Azerbaijan, using a DEX would be the best option for you.

There are several other methods to buy crypto in Azerbaijan. Let’s read about them below.

Alternative Ways to Buy Bitcoin and Crypto in Azerbaijan

• Peer-to-Peer (P2P) Trading: P2P trading refers to the buying and selling of cryptocurrencies between two individuals. Several crypto exchanges, such as Binance and KuCoin, offer P2P trading, where the exchange serves as a common platform that brings together crypto buyers and sellers. You can conduct P2P trades outside crypto exchanges with your family and friends. However, P2P traders will need crypto wallets to send and receive tokens.

• Decentralized exchanges (DEXs): DEXs are permissionless crypto exchange platforms that operate in a decentralized manner. Instead of a centralized operator processing trades by supplying liquidity, DEXs use liquidity pools and smart contracts that enable autonomous crypto trading. The biggest advantage of using DEXs is that user funds are always under the owner’s absolute control, unlike CEXs.

• BTC ATMs: BTC ATMs are kiosks that allow users to buy and sell BTC using cash and debit/credit cards. Unfortunately, there is no BTC ATM in Azerbaijan, according to Coin ATM Radar. Crypto users in Azerbaijan hope that clearer regulations will pave the path for BTC ATMs in Baku and other cities in Azerbaijan.

• Over-the-counter (OTC) trades: OTC trades refer to buying and selling outside of a crypto exchange. They are designed for high-volume trades that need to be planned and structured.

Methods of Buying Crypto in Azerbaijan Compared

Factors to Consider Before Buying Crypto in Azerbaijan

Here are the factors to consider before buying crypto in Azerbaijan:

• Crypto regulations: Azerbaijan has not established crypto laws yet. The status of cryptocurrencies in the country is in a gray area where digital assets are neither recognized nor banned.

• Taxes: Cryptocurrency traders must stay informed about the latest taxation rules on crypto transactions. Azerbaijan has not implemented crypto taxes yet, but we expect the country to do so soon. Typically, cryptocurrencies incur capital gains taxes.

• Legal status: The legal status of cryptocurrencies in Azerbaijan will be decided within the next few years as the government develops a digital asset framework to regulate cryptocurrencies in the country.

• Market risks: Cryptocurrencies are highly risky and volatile assets. Their prices are sensitive to prevalent investment narratives, macroeconomic factors, community sentiment, and more.

Tax Implications for Crypto in Azerbaijan

As we mentioned earlier, Azerbaijan’s crypto regulations have not been established yet. Therefore, investors and traders are often confused about the country’s tax implications. According to the law firm, Freeman Law,

“There is currently no specific regulation of virtual or cryptocurrencies in Azerbaijan. While there is no statutory regime applicable to cryptocurrencies, existing regulatory provisions may apply. Under the Azerbaijani Tax Code and general tax principles, revenue from trading or selling virtual currency is generally considered subject to taxation.”

Here are the important taxation rules that crypto users in Azerbaijan need to be aware of, according to PwC:

• An Azerbaijan citizen’s taxable income is comprised of worldwide income.

• The taxable base of residents is determined as the difference between gross income for a calendar year and expenses.

• Individuals residing in Azerbaijan for more than 182 days during a calendar year are considered residents.

• Monthly income of up to 8,000 AZN is tax-free for non-oil-gas and non-government sectors.

Conclusion: Azerbaijan Guide on How to Buy Crypto

Buying cryptocurrencies is becoming increasingly accessible, thanks to the mushrooming presence of global crypto exchanges such as Binance, KuCoin and others. Crypto users in Azerbaijan must continue monitoring local crypto regulatory developments to avoid getting caught off guard by new laws. As crypto adoption grows in Azerbaijan, we hope that this article on how to buy Bitcoin helps you understand your options and enables you to take your first steps in your crypto investment journey.