Buy Bitcoin & Crypto in China
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China is, without a doubt, the Bitcoin mining capital of the world, widely believed to be responsible for 65% of all Bitcoin mining on earth. And with all those fresh Bitcoinns, come a lot of exchanges and OTC desks to offload that liquidity onto a hungry market of Chinese and foreign investors looking to bail out of the Chinese Yuan.
LocalBitcoins daily trading volume in China is .... The current price of Bitcoin is .... There are ... Bitcoin ATMs available to China residents. And ... businesses accept Bitcoin in China.
Most Popular Exchanges in China
Coinmama
Founded 2013
Coinmama allows users to easily and quickly make bitcoin purchases from almost anywhere in the world using many different payment methods, including credit cards.
Kraken
Founded 2011
Started in 2011, Kraken was one of the first Bitcoin exchanges. Founder Jesse Powell started the exchange after helping with MTGOX's 2011 crisis/hack. It was during this experience that Jesse realized the importance of security for a bitcoin exchange. Determined to do better, Jesse started what would become Kraken later that year. As a testiment to the focus on security, Kraken has never been hacked and remains of the of top Bitcoin exchanges in the world.
Bitcoin & Cryptocurrency Trading in China
The cryptocurrency exchange you use will depend on what your goals are. Some people buy only bitcoin, while some buy many cryptos. Some trade, while some buy and hold.
We'll outline some of the best options for each type of buyer and trader.
Best for Trading
If you plan on trading in and out of different coins, the following exchanges support many cryptocurrencies:
- — Cex.io
- — Kraken Pro
Now, let's give a bit deeper into some of the exchanges mentioned above with our detailed overviews.
Top Cryptocurrency & Bitcoin Exchanges in China
Founded 2013
Coinmama Popular
Founded 2013Coinmama Popular
Coinmama allows users to easily and quickly make bitcoin purchases from almost anywhere in the world using many different payment methods, including credit cards.
Visit Site MorePROS
CONS
Supported Fiat:Yes
Payment methods include:Credit Card Debit Card Wire Transfer
Headquarters: Israel
Ease of Use
Super easy
Privacy
Low
Speed
Super fast
Fees
Medium
Reputation
Excellent
Limits
-
Founded 2011
Kraken Popular
Founded 2011Kraken Popular
Started in 2011, Kraken was one of the first Bitcoin exchanges. Founder Jesse Powell started the exchange after helping with MTGOX's 2011 crisis/hack. It was during this experience that Jesse realized the importance of security for a bitcoin exchange. Determined to do better, Jesse started what would become Kraken later that year. As a testiment to the focus on security, Kraken has never been hacked and remains of the of top Bitcoin exchanges in the world.
Visit Site MorePROS
CONS
Supported Fiat:Yes
Payment methods include:Debit Card Bank Transfer Cash BACs Chaps
Headquarters: San Francisco, USA
Ease of Use
Super easy
Privacy
Low
Speed
Slow
Fees
Low
Reputation
Excellent
Limits
Medium
Best Bitcoin Wallet for China
Bitcoin wallets are just software or hardware, so the truth is that wallets can work in any country.
However, we've highlighted some Bitcoin wallets we think would be good for China users here.
Trezor Model T
Secure storage with high res color touch screen
Read ReviewThe Trezor Model T is perfect for long term holders of many coins. It's full color high resolution touch screen makes it easy to navigate and advanced features make it the most secure hardware wallet
Ledger Nano X
Secure Storage with Bluetooth Functionality
Read ReviewThe Ledger Nano X is great for traders who need to access their coins on the go. The on-board Bluetooth functionality allows you to access your coins on your mobile device.
Electrum
Multi-feature desktop wallet that works with hardware wallets.
Visit WebsiteElectrum is a Bitcoin-only desktop wallet that offers many advanced features for higher level users. It is best paired with a hardware wallet.
More Bitcoin Exchanges in China
Most Popular Exchanges in China
Coinmama
Founded 2013
Coinmama allows users to easily and quickly make bitcoin purchases from almost anywhere in the world using many different payment methods, including credit cards.
Kraken
Founded 2011
Started in 2011, Kraken was one of the first Bitcoin exchanges. Founder Jesse Powell started the exchange after helping with MTGOX's 2011 crisis/hack. It was during this experience that Jesse realized the importance of security for a bitcoin exchange. Determined to do better, Jesse started what would become Kraken later that year. As a testiment to the focus on security, Kraken has never been hacked and remains of the of top Bitcoin exchanges in the world.
Founded 2013
Cex.io
Founded 2013Cex.io
Since its founding in 2013, CEX.io has never lost any user funds. As a pioneer in credit card payments for crypto, CEX has kept it easy to access and buy coins. Since it supports 99% of all counties,you can use CEX no matter where you are to buy and sell your favorite crypto assets
Visit Site MorePROS
CONS
Supported Fiat:Yes
Payment methods include:Credit Card Debit Card Bank Transfer SEPA SWIFT
Headquarters: London, GBR
Ease of Use
Easy
Privacy
Low
Speed
Slow
Fees
Medium
Reputation
Good
Limits
High
Founded 2011
BTCC
Founded 2011BTCC
As the oldest exchange in China, BTCC has a good reputation that only longevity can earn. Easy fiat on and off ramps and many cryptocurriencies to trade continue to make BTCC China's premere exchange
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CONS
Supported Fiat:Yes
Payment methods include:Credit Card Debit Card Coin Payments Wire Transfer
Headquarters: Hong Kong, China
Ease of Use
Easy
Privacy
Low
Speed
Slow
Fees
Low
Reputation
Good
Limits
High
Founded 2013
KuCoin
Founded 2013KuCoin
As one of the first exchanges anywhere, KuCoin has grown into a very large operation, supporting hundreds of trading pairs along with derivatives and futures.
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CONS
Supported Fiat:Yes
Payment methods include:Credit Card Debit Card Bank Transfer Paypal Interac e-Transfer
Headquarters: Singapore
Ease of Use
Easy
Privacy
Low
Speed
Super fast
Fees
Low
Reputation
Good
Limits
High
Founded 2014
Bittrex
Founded 2014Bittrex
Founded in 2014, Bittrex was a mainstay of crypto trading during the 2017 bull market. It has many cryptocurrency paiirs and now even allows Fiat on boarding.
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CONS
Supported Fiat:Yes
Payment methods include:-
Headquarters: Seattle, Washington, USA
Ease of Use
Average
Privacy
Low
Speed
-
Fees
Low
Reputation
Good
Limits
Medium
Founded 2011
Paymium
Founded 2011Paymium
Paymium is one of the oldest exchanges in Europe. It is compliant with all EU regulations and is extremily well trusted. Paymium is based in France and supports several payment methods, including SEPA transfers and credit card purchases.
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CONS
Supported Fiat:-
Payment methods include:Credit Card Bank Transfer SEPA SWIFT Apple Pay
Headquarters: Paris, FRA
Ease of Use
Easy
Privacy
Low
Speed
Super fast
Fees
Low
Reputation
Good
Limits
High
Founded 2007
BestChange
Founded 2007BestChange
BestChange is a specialized online e-currency exchange service that monitors rates for dozens of popular conversion pairs in near real-time and offers one-click access to lists of reliable e-currency exchangers capable of helping you complete your transaction quickly and efficiently.
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CONS
Supported Fiat:Yes
Payment methods include:-
Headquarters: RUS
Ease of Use
Average
Privacy
High
Speed
-
Fees
High
Reputation
Excellent
Limits
-
The history of Bitcoin in China
China has always maintained a fractured and unique relationship with Bitcoin over the years, despite it being the world’s leading Bitcoin mining hub (at least 65% of the network is generated within the most populated country). In fact, some of the biggest crypto companies on earth are based in China, and the centralized events tend to greatly affect demand on the global Bitcoin network––it goes without saying that China is the undisputed world champion when it comes to Bitcoin.
Despite this influence, over the years, China’s communist government has enacted some of the strictest regulations and limitations on cryptocurrency trading. It has basically banned various aspects of Bitcoin trading functionality multiple times over many periods throughout the crypto giant’s relatively short existence. In the past, Bitcoin has been denounced as a troubling, unstable pseudo currency––the Chinese government has even gone to the ultimate lengths of developing its own state-run cryptocurrency designed to replace Bitcoin.
Up until September 2017, China was at the forefront of the global Bitcoin market with countless citizens having established themselves as leading traders and miners. However, in late 2017, the communist government placed a strict ban on cryptocurrency trading and ICOs. Not long after, further crackdowns in Beijing saw fringe trading platforms such as P2P banned, too.
The current status of Bitcoin in China
In Mainland China, even before the ban, banks had been forbidden from trading Bitcoin since 2013. What’s more, all Bitcoin exchanges have been subject to the same internet censorship and licensing restrictions which are enforced by the Ministry of Industry and Information Technology.
Currently, banks and financial institutions in mainland China (excluding Hong Kong) are forbidden to facilitate with Bitcoin and other virtual currency transactions.
However, the Chinese government has limited its intrusiveness regarding mining operations. Private individuals are technically allowed to trade, and miners are still permitted to operate––but for how long is anybody’s guess.
Some of the most popular exchanges for buying Bitcoin in China include Huobi, OKEx, and Gate.io.