Circle Trading Circle is a Boston-based financial services firm most popular for their money transfer app. Fees are stated to be 3. One of the easiest ways to buy Bitcoin in Hong Kong is through cryptocurrency exchanges. Up until recently, it was also possible to buy crypto with cash. In fact, Hong Kong is flush with 31 Bitcoin ATMs, making it really easy for anyone looking to buy Bitcoin to simply turn up at one of the machines and quickly purchase the digital tokens in a fast and anonymous manner using cash. As a result, Bitcoin innovation and adoption in Hong Kong should increase, but potential downside could arrive in the form of those exchanges or participants that are unwilling to operate within the rules. The website localbitcoins.
The State of Bitcoin in Hong Kong
The options on how to buy Bitcoin can be overwhelming at. Whsre with selling Bitcoin, there is little fraud risk associated with buying. Unfortunately Bitcoin still does not have the legal status in Hong Kong that it deserves, and banks are reluctant to deal with companies and individuals associated with Bitcoin. In this environment it is easy for scammers to attempt to defraud you of your Dollars or Bitcoin in certain bitcoun of transactions. As banks are more aggressively acting against Bitcoin companies, trading bitcoin in person has become more popular again in Hong Kong recently. The website localbitcoins. Some OTC exchanges see below also deal with cash deposits and withdrawals.
Buying Bitcoin in Hong Kong
Want to do it as fast as possible? You might be able to go from zero to bitcoin in less than an hour. Before getting started you need a place to put your bitcoin. You can compare hardware wallets here. All you have to do is pick one that suits your needs, follow the steps provided and transfer supported fiat currency, or cryptocurrency for bitcoin. Now that cryptocurrencies have been around for a while, you can simply buy bitcoin almost like anything else.
The Regulatory Environment
The options on how to buy Bitcoin can be overwhelming at. Compared with selling Bitcoin, there is little fraud risk associated with buying. Unfortunately Bitcoin still does not have the legal status in Hong Kong that it deserves, and banks are reluctant to deal with companies and individuals associated with Bitcoin. In this environment it is easy for scammers to attempt to defraud you of your Dollars or Bitcoin in certain kinds of transactions.
As banks are more aggressively acting against Bitcoin companies, trading bitcoin in person has become more popular again in Hong Kong recently. The website localbitcoins. Some OTC exchanges see below also deal with cash deposits and withdrawals.
Clarify with your exchange or traders beforehand what currencies, notes and payment forms they accept. The most convenient way to buy Bitcoin is an ATM. Usually you only need to show the ATM the QR code of your Bitcoin address, insert bank notes and confirm the exchange rate.
Prepare your wallet ahead of time, and bring exact change. You may also browse coinatmradar. Buying Bitcoin on exchanges is usually the cheapest option in terms of fees and is relatively fast and convenient. But it often requires a few days to set up an account and get verified, and you can expect exchanges based in Hong Kong to ask for your personal information like HKID or address proof before you can start using their accounts.
Please note that Bitcoin exchanges are not to be treated as banks. We recommend you to withdraw your coins quickly after your purchase to a wallet you control, and never keep any funds on an exchange for a longer time. There are currently four exchanges with local Hong Kong bank accounts. Some of these exchanges also accept cash deposits and cheques. Bitspark Bitspark is a Hong Kong-based exchange most known for its easy deposit mechanism and low fees. Calimex in Sheung Wanthen withdraw Bitcoin to your wallet.
Please refer to the app AndroidiOS coming soon for a list of cash points. Tidebit Tidebit is the newest of Hong Kong Bitcoin exchanges. For larger amounts, you can go to an OTC Exchange, or broker. A broker will give you a quick quote for a single trade, usually upwards of 10 BTC. You will be able to sell or buy Bitcoin against a wire transfer.
Circle Trading Circle is a Boston-based financial services firm most popular for their money transfer app. Some exchanges overseas serve the Hong Kong market. Wire transfers to these exchanges are more expensive, but often more reliable and there is significantly more market depth. Disputes however cannot easily be resolved through the Hong Kong legal system and can quickly become complicated and expensive to resolve. Gemini Gemini is a New York exchange that specializes on large volumes.
It only accepts USD deposits and trading. Bitstamp Bitstamp is a cryptocurrency exchange based in Slovenia. Instead, buyers and sellers interact directly with each other when transfering money. The Bitcoin are held in escrow by the exchange. Paxful Paxful is a peer-to-peer excchange based in Estonia.
Hong Kong-based users can trade with each others and use a variety of payment methods including bank wires and deposits, gift cards, Alipay and PayMe.
Funds are not held in custody by the exchange. Localbitcoins Localbitcoins is a peer-to-peer exchange managed from Finland. Bisq Bisq formerly Bitsquare is not a company, and is not run by anybody. Instead it acts as a network of users, which you can join by downloading the Bitsquare software. This software might be experimental at times, but shows promise in leading the way to a truly decentralized future.
The by far cheapest way to get Bitcoin is to accept them as payment. No matter if you run a business, are employed, do freelance work or your friends owe you money, it may be a good idea to ask for these payments to be made in Bitcoin. Especially online and in international transfers the instantaneous and near-free Bitcoin transactions are far superior to other means.
If you have a business, you can consider accepting Bitcoin as a form of payment. Learn all about it. Advertisement In Person As banks are more aggressively acting against Bitcoin companies, trading bitcoin in person has become more popular again in Hong Kong recently.
Bitcoin Exchanges Buying Bitcoin on exchanges is usually the cheapest option in terms of fees and is relatively fast and convenient. Overseas Exchanges Some exchanges overseas serve the Hong Kong market. Earn Bitcoin The by far cheapest way to get Bitcoin is to accept them as payment. Feel where to buy bitcoin in hk to comment about your experiences, thoughts and additions.
Buying bitcoin in hong kong
Buying Bitcoin in Hong Kong
Purchases made with a credit card give you access to your bitcoin immediately. Regulation requires regular reporting and maintenance of records, which means that crypto exchanges might enforce higher fees on users. While Mycelium Local Trader works great in highly-populated where to buy bitcoin in hk, users in low population areas will have trouble finding sellers. Also, it is advisable to use a separate wallet for security reasons so that users can protect themselves against potential exchange hacks. There are a number of well-established exchanges that maintain a physical presence in Hong Kong including Binance, Bitfinex, Bitmex, and Huobi. Advertisement In Person As banks are more aggressively acting against Bitcoin companies, trading bitcoin in person has become more popular again in Hong Kong recently. Unfortunately Bitcoin still does not have the legal status in Hong Kong that it deserves, and banks are reluctant to deal with companies and individuals associated with Bitcoin. You can refer to our guide on Bitcoin exchanges in Hong Kong to select one based on different criteria such as transaction fees, withdrawal limits, payment methods, security, reputation, and ease of use. Buying Bitcoin on exchanges is usually the cheapest option in terms of fees and is relatively fast and convenient. Earn Bitcoin The by far cheapest way to get Bitcoin is to accept them as payment. One of the easiest ways to buy Bitcoin in Hong Kong is through cryptocurrency exchanges.
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