How to participate in Bitcoin trading in China

There are four main ways to participate in buying and selling Bitcoin: 1. Through centralized exchanges; 2. Through decentralized exchanges; 3. Through over-the-counter transactions; 4. Through brokers.

There are mainly the following ways to participate in buying and selling Bitcoin:

Through centralized exchanges

Centralized exchanges are currently the most common way to trade Bitcoin. Centralized exchanges are similar to stock exchanges and are operated by a company that is responsible for matching both parties to trade. Centralized exchanges usually provide higher liquidity and lower transaction costs, but at the same time there are certain risks, such as platform leaks, hacker attacks, etc.

Some well-known centralized exchanges include:

• Binance

• Huobi

• OKX

• Coinbase

• Kraken

By decentralizing Decentralized exchange

Decentralized exchange is a new type of exchange that does not rely on any centralized institution but conducts transactions on the blockchain through smart contracts. Decentralized exchanges have higher security and transparency, but they also have problems such as low liquidity and high transaction costs.

Some well-known decentralized exchanges include:

• Uniswap

• Sushiswap

• PancakeSwap

Through OTC trading

OTC trading means that both parties to the transaction conduct transactions directly without going through an exchange. OTC transactions usually provide more flexible prices and trading methods, but they also involve certain risks, such as counterparty default, fraud, etc.

Some well-known OTC trading platforms include:

• LocalBitcoins

• ##Paxful

• Bisq

Through Brokers

Some brokers also offer Bitcoin trading services. Brokers usually provide higher security and customer service, but there are also issues such as higher transaction costs.

Some well-known brokers offering Bitcoin trading services include:

• Robinhood

• Webull

• eToro

##Specific transaction process

Taking the centralized exchange as an example, the specific transaction process is as follows:

Choose a centralized exchange and register an account.
Complete identity verification.
Deposit fiat currency or other cryptocurrencies.
Select the Bitcoin trading pair you want to trade.
Enter the transaction quantity and price.
Place an order.
After the transaction is completed, Bitcoin will be deposited into your trading account.

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