How to Buy Cryptocurrency in China
Buying cryptocurrency in China
Even though the citizens of China are not new to digital payments, all activities related to cryptocurrencies have received little to no tolerance from the stern Chinese government. In 2017, ICOs or initial coin offerings were prohibited. Following this turn of events, exchange platforms trading cryptocurrencies or providing services were ordered to be shut down as well. All of this could be due to the fact that the Chinese government began a pilot program for a digital version of its official currency. The rapid growth of cryptocurrencies such as Bitcoin and Ether created a dangerous opportunity for a vast amount of economic activity to occur behind the policymakers' backs. As a result, China made a valid effort to put an end to any and all activities revolving around cryptocurrencies, but quickly saw the basic appeal of the general idea behind them, as long as it had a semblance of control
As of 20/03/2021
Exchanges Info
These exchanges all accept customers from China. While they broadly offer the same services and you can buy cryptocurrency at all of them, there can be differences in transaction fees, security, verification requirements, deposit methods and features, as shown below
Kraken
Kraken has a good reputation for security and protection of your funds and operates across the USA (except NY), Canada, the EU and Japan
It can be used to trade against fiat options
- Robust security measures
- Free SEPA deposits in Europe
Not a very beginner-friendly interface.
- No card deposit options
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