How to buy Bitcoin in China

The domestic methods of purchasing Bitcoin mainly include direct transactions and other methods. Direct trading includes over-the-counter trading platforms (OTC) and exchanges. The former allows users to trade directly with other traders, while the latter provides a platform to match transactions. Other methods include cryptocurrency teller machines (ATMs), Bitcoin trading websites, etc. For specific operating steps and precautions, please refer to the relevant chapters in the text.

Domestic ways to buy Bitcoin

Direct transaction

• Over-the-Counter Trading Platform (OTC): LocalBitcoins, Paxful, Huobi OTC and other platforms allow users to trade Bitcoin directly with other buyers or sellers.

Exchanges

• Centralized exchanges: Binance, Huobi, OKEx and other exchanges allow users to Purchase Bitcoin by recharging with fiat currency. Transaction fees are low, but there may be security risks.
• DEX high.

Other Ways

• Cryptocurrency Teller Machines (ATMs): Cryptocurrency ATMs are available in some areas to allow users Buy Bitcoin using cash.
• Bitcoin trading websites: Websites such as Coinmama and CEX.IO provide services for purchasing Bitcoin with credit or debit cards, but the handling fees are higher.

Specific steps

OTC trading platform:

Register and verify identity.
• Select a seller and view their ratings and transaction history.
• Negotiate price and payment terms.
• Complete the transaction and receive Bitcoin.

Exchange:

Register and complete identity verification.
• Recharge fiat currency (usually supports bank cards or third-party payment platforms).
• Select a Bitcoin trading pair and place an order to buy.
• Once the transaction is completed, Bitcoin will be deposited into your exchange account.

Notes

• Transaction Security: Choose a reputable platform and take appropriate security measures such as enabling dual verify.
• Transaction rate: Different platforms have different transaction rates, compare them before choosing.
• Transaction Limit: Some platforms have daily or single transaction limits for fiat currency deposits or Bitcoin purchases.
• Taxes: In some countries, selling or trading Bitcoin may incur tax obligations.

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