Binance and Bybit in Kazakhstan: how they work and how they differ from exchangers
How Binance and Bybit operate in Kazakhstan, what an AIFC license is, how to fund an exchange with tenge and when a licensed exchanger is simpler.
An exchange and an exchanger solve different problems. An exchanger sells or buys crypto from you for tenge at a fixed rate. An exchange matches orders from many users and lets you trade hundreds of coins.
How exchanges work in Kazakhstan
International exchanges set up separate legal entities in Kazakhstan inside the Astana International Financial Centre (AIFC). The AIFC has its own law, and financial firms there are licensed by the AFSA regulator. More in the lesson on the AIFC and AIX.
Exchangers in the NBK registry are regulated by the National Bank and operate under the law of the Republic of Kazakhstan.
Exchange or exchanger
| Task | Better choice |
|---|---|
| Buy USDT for tenge once | Exchanger |
| Sell USDT and get tenge on a card | Exchanger |
| Swap USDT for other coins | Exchange |
| Active trading, orders, charts | Exchange |
| Need a receipt for tax | Exchanger, an exchange issues statements on request |
Combining an exchanger and an exchange
Many people buy USDT at an exchanger with the best rate, then send it to an exchange and swap it there. To avoid losing money:
- Copy the USDT deposit address on the exchange and check the network.
- Enter that address and network in the exchanger order.
- Send a test amount for the first transfer.
The lesson on TRC20, ERC20 and TON explains how not to mix up networks.
Risks
Keeping large amounts on an exchange is risky: accounts can be frozen and exchanges hacked. For long-term storage use your own wallet, see the lesson on cold wallets.
FAQ
Are Binance and Bybit legal in Kazakhstan?
Both have Kazakh legal entities in the Astana International Financial Centre and operate under permissions from the AFSA regulator. The current status of each company can be checked in the public AFSA register.
Which is better for buying USDT, an exchange or an exchanger?
For small amounts an exchanger is often simpler and comparable in price. Trading between assets is cheaper on an exchange, but tenge deposits and withdrawals may carry extra fees.
Can I send USDT from an exchanger to Binance?
Yes. Enter the exchange's USDT deposit address and the same network, such as TRC20, in the exchanger order. Send a small test amount first.
Updated October 6, 2026