How to Buy Cryptocurrency in Macao
Buying cryptocurrency in Macao
In September 2017, the Monetary Authority of Macau (AMCM) made a statement where it warned the financial industry and citizens of the risks that come with virtual commodities and tokens. According to this statement, trading of such commodities involves risks, including those related to money laundering and financing of terrorism, all of which citizens should remain vigilant against. Furthermore, the AMCM issued a notice to banks and financial institutions in Macau, warning them not to engage with or grant (directly or indirectly) any relevant financial services. This statement was issued after a very similar ban made by Chinese authorities on the mainland regarding initial coin offerings. A similar statement was also issued several years earlier (2014). In that statement, the AMCM also warned about the dangers of Bitcoin. Bitcoin was regarded as a type of virtual commodity that is neither legal tender nor a financial instrument, subjected to AMCM’s supervision.
As of 20/03/2021
These exchanges all accept customers from Macao. 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
Based in Singapore and registered in the British Virgin Islands, Bybit is a P2P cryptocurrency exchange offering perpetual futures products with 100:1 leverage. Bybit can process 100k transaction per second which is a great feature for leveraged trading.
- Advanced and secure technology
- Anonymous accounts
- Attractive trading bonuses
- Very low fees
- Limited asset coverage
- No option instruments