Where to Buy Bitcoin in China

Today China is considered to be one of the leading countries who is fully engaged in cryptocurrency trading and thus have a number of companies and portals from where the trade can be executed.

Though there has been much speculation with the recent scenario and there is a chance that the crypto trading in China may get affected by the governmental policies, the urge for buying and selling of cryptos has never gone down by any means.

In terms of the laws made by the government are pretty strict regarding the transaction of cryptocurrencies but whether the ban imposed on the cryptocurrency platforms will remain is a matter of speculation and only time will give the final answer to it.

But today, we would like to dig deep into few of the best cryptocurrency trading portals of China who mainly encourages users to purchase and sell Bitcoins.

Though it is quite impossible to check out all the companies under a short spectrum, we hereby present to you few of the best places in China from where you can purchase Bitcoin without any issues or security concerns.

Where to Buy Bitcoin in China

1. BTCC

BTCC is one of the finest cryptocurrency trading company in China and considered to be the second largest Bitcoin exchange in China and the longest running Bitcoin portal in the world. The portal started its journey in the year 2011 in Shanghai, China.

The company has the reputation of providing a portal from where you can easily buy Bitcoin without any issues or concerns. The company offers a great liquidity in terms of trading at good prices. The company provides a unique facility in terms of bank deposits. Generally, deals are processed within 30 minutes of confirmation.

Though the interface may be a bit confusing one for the beginner overall once you get settled, it would be very easy to navigate and do trading. Trading fees vary according to the mode of dealing. Generally, the portal charges 0.10% for crypto to crypto transactions and 0.00% to 5.00% for fiat to crypto transactions. There is a provision of online storage for the users.  There are 90 currency pairs available.

2. Huobi

In the year 2013 Mr. Leon Li founded the company “Huobi” with its base in Beijing which today stands as the third largest Bitcoin exchange in China. The company from its inception days had a dream to capture the Chinese cryptocurrency market along with an eye to reach the global customers as well. Thus due to this very reason, today the portal claims to trade approximately 380,000 BTC on a daily basis with Bitcoin being the most prominent crypto variant.

Generally, the company charges a fee as small as 0.1% of its users with 24 x 7 customer support. You can use both Chinese Yuan and American Dollars as currency for the transaction.

Due to the Chinese origin, the company does not charge any fee when made in Chinese Yuan. The company offers great liquidity and good prices for the transaction. The company offers bilingual customer support along with low fees for the transaction. Overall the company manages to offer a good review from its users.

3. LakeBTC

One of the largest Bitcoin exchange in China, the company has successfully reached around 40 countries around the globe with multiple payment methods.  Founded in 2013, currently, the company supports three of the major cryptos BTC, ETH and LTC.  The portal accepts different fiat currencies that include USD, CNY, GBP, CAD, EUR, SEK, HKD, VEF, THB, JPY, and others.

The company offers zero fees while you deposit in BTC.  Traders are charged with 0.15% when their monthly trading volumes are below 500 BTC.  LakeBTC does not support margin trading.  Here the maker’s fee is 0.12% while the taker fee is 0.20%.  The company offers different payment methods to its customer that includes Bank transfer, PayPal, OK Pay, Payza Neteller and etc, though the facility of using credit and debit card is not there.

When it comes to the interface, it may be hard for the beginners, but once get settled, you can easily and conveniently do trading.  Overall the company of LakeBTC has managed to get good reviews from its customers/users around the globe in terms of security and customer support.

4. OKCoin

OKCoin is considered to be the largest Bitcoin trading platform in China. They have a volume of more than 16 million Bitcoins per month. The company was founded in the year 2013 by Star Xu.

Getting verified by the portal is very easy and requires only your personal information. The portal only accepts US Dollars for the transaction via bank and wire transfer. The company offers great liquidity to its customers.

The platform of OKCoin is quite decent and pretty much user-friendly to its customers. The company has managed to develop an application for both Android and iOS in order to simply trading through the portal. You can use email, chat or phone support in order to connect with their support staff.

The ticketing system is one of the most unique features that the company provides too.  The company due to its advanced trading options, good support system, and an excellent trading condition has managed to obtain good reviews from users around the globe especially from traders and users from the Asian zone and today stands as one of the most trusted cryptocurrency trading portals in China.

5. Bitfinex

From its base at Hong Kong, Bitfinex is well known as one of the most promising, trusted and largest USD Bitcoin exchange around the globe. The portal of Bitfinex can be accessed simply by getting registered by fulfilling their protocol and the process is quite easy and requires less time to complete. The portal asks a pretty low fee from its users and charges 0.1% from market makers and 0.2% fee from market takers accordingly.  The transfer fee is as low as 0.1%.

Other than Bitcoin, the company of Bitfinex also encourages its users to trade in Bitcoin Cash, Ripple, Monero, Litecoin, Zcash, Ether Classic and other variants of crypto as well. The company does consider the security of the fund a very unique and important issue and thus have taken various measures in order to get them secured and thus have the option of moving them from hot to a cold wallet for safety reasons. Since there had been a serious security breach in the year 2016 where hackers stole around 120,000 BTC were stolen the company has now given extra care with regards the safeguarding of the funds.

6. Coinmama

Coinmama is considered to be one of the best places to buy Bitcoin as it serves its customers on a global basis.  As per data obtained from various sources, it has a customer base of 200, 000 which is certainly a huge number. The company deals in Bitcoin and Ethereum mainly.

You can purchase them via credit card. The portal accepts fiat currencies of USD and EUR only.  There are different variants of cryptos available other than Bitcoin and Ethereum. You can use cash, card or SEPA for deposit.

The company charges 5.90% trading fee from its users which is quite high in relation to offers of other portals though the company does not charge anything on withdrawal. Being one of the most reliable and trusted brands in cryptocurrency business the company serves around 226 countries worldwide.

The company of Coinmama offers customer support via email only.  Although there are FAQ provides on the website itself which can simply act as a helping tool for you if you are new to their portal.

7. CEX.io

The company started its journey in the year 2013 in London as a Bitcoin exchange and today it stands as one of the best in the business. The company has its branches spread to all over the globe except few countries.

Getting registered with their portal/site is quite easy and only requires your valid documents. The company does offer high trading fees around 7% which is quite frustrating and a matter of great concern to the traders.

The company provides four basis account limits which are Basic, Verified, Verified Plus and Corporate.  The basic account has a limited purchase of up to $500 worth of Bitcoins per day and $2000 per month.

The others have no such limits tagged. It has been found that with regards to the customer support offered by CEX.io, most of the customers around the globe are not satisfied with it and thus CEX.io has got negative reviews from many users due to this following reason.

Conclusion

Every portal does have their own pros and cons, but still, all being said the above list of companies are quite popular among the traders and users while it comes to purchasing of Bitcoin in China and will certainly remain so.

Though the future of cryptocurrency does not look so bright when it comes to China, we can only hope for the betterment of the scenario in the future.

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