Buying Bitcoin in China
With the yuan tumbling and the government assuring everyone the currency is fine, many people in China are preferring to store value in bitcoin. With the up and down “rules” for bitcoin in China, it makes sense for most people to use anonymous exchanges, outside of the Wechat and Alipay options that are available. The ability to privately and securely store value is new to China and it’s importance to people wanting to own their money and store value is immense.
Best Bitcoin Exchanges in China
While there are many options for the Chinese to buy bitcoin, some of the best exchanges are in nearby Japan, Hong Kong and Vietnam for the lowest fee, trustworthy exchanges available. Again, the governments response to bitcoin and blockchain in the country has been vague at best, so a good wallet and anonymous exchange (covered below) are most people’s preferred options for purchasing.
The best bitcoin exchanges available in China currently are:
|Crypto Exchanges China||Type||KYC||Currencies|
|Bitit||Exchange / Trading Platform||Yes||AUD, EUR, NZD, GBP, USD, BTC, ETH, LTC||Continue|
|EXMO||Exchange / Trading Platform||Yes||USD, RUB, EUR (Cashback on Trades)||Continue|
|LakeBTC||Exchange / Trading Platform||Yes||All National Currencies, BTC, ETH, LTC||Continue|
|CEX.IO||Exchange / Trading Platform||Yes||USD, EUR, GBP, RUB, BTC, ETH, LTC + more||Continue|
|Kraken||Exchange / Trading Platform||Yes||EUR, CAD, USD, CNY, BTC, ETH, XMR, XRP, many more||Continue|
|Coinbase||Exchange / Trading Platform||Yes||USD, CAD, CNY, GBP, EUR||Continue|
Best Anonymous Options to Buy Bitcoin in China
While the Wechat and Alipay options on localbitcoin may not require identification, there are more secure and safe options available for buying crypto in China. We will assume not many people are using the 1 bitcoin ATM in China but the Beijing bitcoin meetups and Shanghai meetups have more than a few people who buy and sell bitcoin daily.
The best anonymous exchanges for buying bitcoin in China (many using TOR network):
|LocalBitcoins||Peer to Peer Bitcoin Buying and Selling||No||CNY, USD, EUR, Alipay, WeChat Pay for BTC, LTC, ETH||Continue|
|HodlHodl||Peer to Peer BTC Exchange / Trading Platform||No||EUR, USD||Continue|
|Paxful||Anonymous Bitcoin Purchases||No||Alipay, WeChat Pay, Visa Prepaid Cards, Amazon Gift Cards||Continue|
|Changelly||Anonymous Bitcoin and Altcoin Buying||No||BTC, ETH, LTC and Hundreds of Altcoins||Continue|
|BISQ||Anonymous P2P Exchange / Trading||No||AUD, CAD, EUR, GBP, INR, JPY, NZD, RUB (more)||Continue|
|BTC, ETH, LTC, Hundreds of Alt-coins||Continue|
|CoinMama||Exchange||Under $150 No||Visa, MasterCard, AUD, CAD, EUR, GBP, INR, JPY, NZD, RUB, SEK, ZAR||Continue|
|Wall of Coins||No||USD, CAD, MXN||Continue|
Other Options to Buy Crypto in China
With capital controls in China, many people just buy and sell bitcoin through exchanges or friends in Hong Kong, Vietnam, Japan and Canada. There are two bitcoin ATM’s in Shenzhen but the fee’s aren’t listed (they’re usually quite high) and the capital controls in China make everyone want to buy bitcoin anonymous.