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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  TypeKYCCurrencies 
BititExchange / Trading PlatformYesAUD, EUR, NZD, GBP, USD, BTC, ETH, LTCContinue
EXMOExchange / Trading Platform YesUSD, RUB, EUR (Cashback on Trades) Continue
LakeBTCExchange / Trading PlatformYesAll National Currencies, BTC, ETH, LTCContinue
btc exchange cex ioCEX.IOExchange / Trading PlatformYesUSD, EUR, GBP, RUB, BTC, ETH, LTC + more Continue
KrakenExchange / Trading PlatformYesEUR, CAD, USD, CNY, BTC, ETH, XMR, XRP, many moreContinue
CoinbaseExchange / Trading PlatformYesUSD, CAD, CNY, GBP, EURContinue
BitMEXTrading PlatformNoBTC 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):

Anonymous Exchange TypeKYCCurrencies 
LocalBitcoinsPeer to Peer Bitcoin Buying and SellingNoCNY, USD, EUR, Alipay, WeChat Pay for BTC, LTC, ETHContinue
HodlHodlPeer to Peer BTC Exchange / Trading PlatformNoEUR, USDContinue
PaxfulAnonymous Bitcoin PurchasesNoAlipay, WeChat Pay, Visa Prepaid Cards, Amazon Gift CardsContinue
ChangellyAnonymous Bitcoin and Altcoin BuyingNoBTC, ETH, LTC and Hundreds of AltcoinsContinue
BISQAnonymous P2P Exchange / Trading NoAUD, CAD, EUR, GBP, INR, JPY, NZD, RUB (more) Continue
BinanceTrading PlatformNo

(under 2BTC)
BTC, ETH, LTC, Hundreds of Alt-coinsContinue
CoinMamaExchangeUnder $150 NoVisa, MasterCard, AUD, CAD, EUR, GBP, INR, JPY, NZD, RUB, SEK, ZARContinue
Wall of CoinsNoUSD, CAD, MXNContinue

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.