Coinmama accepts only credit cards as a method of bitcoin purchase at the fee of 5%. Verification is needed to use the card but you also have the option to get BTC worth of $150 with an unverified account. This Hong Kong exchange allows Chinese traders to use the platform’s services through USD deposits, as national currency is not available at the Gatecoin exchange. Fees range between 0.02% and 0.35%, depending on the volume and order type (maker/taker). Since company follows KYC and AML policies, identity verification is imposed on all clients.

  • This wallet received the majority of its holdings through transfers from various accounts.
  • As opposed to crypto, as in digital currency, blockchain technology has always been looked upon more favorably in China.
  • As such, the government has implemented strict rules and regulations that must be followed when buying and selling Bitcoin.
  • Bitfinex is the great exchange in the world, that trade bitcoins and 20 other altcoins…
  • Please take note to conduct inexpensive purchases to avoid regulatory scrutiny.

You have to buy Second Life Lindens (SLLs) first and then swap them for BTCs, paying three times the same trade fees. ShapeShift is a unique platform when it comes to exchange services. There are no purchase or deposit methods, nor are there any fiat currencies as well. You trade and swap around cryptocurrencies around for a set exchange rate. There are 50 available altcoins, bitcoin included, and the company made apps for Android and iOS available for traders.

Mycelium Local Trader

After setting the authentication with an app, you’ll use a special code to get access. You’ll notice that all of the prices on Local Bitcoins are much higher than that. To get some perspective, you must also look at the rates on the sellers’ page. You’ll find that they’re not only are people selling at well above the market rate, they’re also buying back at higher prices. It is important to understand Chinese crypto regulations before attempting to buy Bitcoin in China.

  • Cex.io is a time-tested British exchange with over 3 million users.
  • Given the right tool (such as a bitcoin wallet), you can transfer bitcoins worldwide between two bitcoin accounts anonymously.
  • There are several different types of exchanges available, such as centralized exchanges, decentralized exchanges, and peer-to-peer (P2P) exchanges.
  • When it comes to actually using your Bitcoin, you may find some difficulty using it within China.
  • What are the payment options available to you and how important is privacy in your eyes.

No registration or verification needed to trade, making this quite private option for BTC trade. For example, you can still buy bitcoins from overseas bitcoin exchanges such as Coinbase, Bitfinex etc. However, it’s quite difficult to open an account at most overseas bitcoin exchanges. Moreover, to fund your oversea account with fiat currency, you will be restricted with the USD $50,000 per year limit for cross-border money transfer. Buying Bitcoin in China is becoming increasingly popular as citizens look for alternative ways to store and transfer wealth.

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Whereas BTCC was oriented towards traders originating outside of China, BTCChina is meant for domestic investors. Most of the features and functions are the same with BTCC, with the only real difference being the available fiat currencies. Bitfinex is the great exchange in the world, that trade bitcoins and 20 other altcoins… Kraken is one of the largest and oldest crypto exchanges in the world. Peer-to-Peer (P2P) platforms are the best option for people in China to buy Bitcoin. It is advised not to make huge purchases so you won’t attract regulatory perusal.

The PBOC has adopted a proactive yet restrictive stance towards cryptocurrencies, aiming to control potential risks while keeping a tight rein on the sector’s activities. To this end, the PBOC has issued several directives and regulations relevant to cryptocurrency activities, leading to a ban on local crypto exchanges and Initial Coin Offerings (ICOs). KuCoin distinguishes itself with a competitive trading fee of 0.1%, thus being cost-effective for frequent traders. It also encompasses features like spot trading, futures, staking, lending, and its native KuCoin Shares (KCS) token. However, similar to Gate.io, it lacks direct CNY deposit options, which might restrict its allure for users wishing to trade with local currency. But, this hurdle can be circumvented through alternative deposit options accessible to Chinese investors.

Register at Local Bitcoins

Bittrex is a US regulated crypto exchange with high focus on security. Cex.io is a time-tested British exchange with over 3 million users. With Changelly’s stellar team, we have developed a unique system to ensure exchanges are fulfilled in the fastest possible time and with immediate customer support. Integrating Changelly services into Trezor Wallet’s exchange has been a great success for all parties, especially the users. Working with Changelly is a pleasure, thanks to their professional and courteous approach. This exchange requires identity verification on accounts and it charges 0.2 percent on each transaction.

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As a general rule of thumb, it is better to connect to a VPN server that is close to the location of the services that you want to access. So, if you decide to use a cryptocurrency agency in Singapore, it would be better to select a VPN server in the city state. A VPN server in Japan would be better for trading cryptocurrencies roinvesting forex broker review in that country. If you have been staying in China for some time, you must know that getting money out of China is quite difficult. There is a USD $50,000 per year limit for anybody in China to send money overseas without the government’s approval. Many people in China want to transfer money out of China for different reasons.

Deposit fiat & buy bitcoin

These partnerships help support our platform but do not sway the trustworthiness of our content. You can buy Bitcoin in China on any of the exchanges mentioned in this article. Investing in Bitcoin is highly risky and speculative, and this article is not a recommendation by Based Bachelor to invest in Bitcoin.

BTCC

Also, you might need to be ware of bad guys when doing your trade. But given that there’s not many better options left, this is still a good way to buy and sell bitcoins in China under the current situation. Buying Bitcoin in China is hindered by a regulatory ban imposed on cryptocurrency in September 2021. The country banned crypto exchanges, and banks were instructed to report crypto transactions.