Main Peculiarities Of Popular Crypto Trading In Hong Kong
Despite the current crypto situation in the world, Hong Kong and China, in general, have shown a slightly different approach to the matter. Even though trading and exchanging are legal, it’s as controlled as possible. The government is issuing new laws about cryptocurrency regulations and considers banning retail investors from trading with cryptocurrency.
Crypto trading platforms in Hong Kong
Due to particular regulations the country has applied to the industry, the main trading platforms would be presented as either local or global exchanges. To trade and register with any trading vendor, a user is obliged to pass identification to confirm their personality. While the registration and trading with those aren’t private enough, it’s promised to be secured when compared to other countries.
Aside from the local exchanges that Hong Kong offers, all of them are well-rated and licensed. There are also global crypto giants to trade with:
Where do you buy crypto in Hong Kong?
Along with the rest of the reputable services, the above exchanges offer a user a chance to get cryptocurrency in the desired amount. However, most platforms require an online wallet. Besides, such a wallet can ensure the safety of your means in case the exchange is hacked. So, buying from an exchange and storing it in your personal wallet is what users do in Hong Kong.
If you’re interested in buying Bitcoin and other cryptocurrencies privately, you can use Bitcoin ATMs. They require no sign-up and precise registration for either buying or selling crypto. However, the fee rate per transaction, which is 5% to 10%, leaves many customers dissatisfied. On the bright side, the number of ATMs in Hong Kong is growing by the day.
Lastly, the issue that people in Hong Kong face is that very few services can be paid for or acquired with the help of cryptocurrency.