1. The most traditional way is definitely to purchase from merchants or retail investors through C2C on OYOK, Binance, and Gate.
Little-known fact: BN and OK merchants need to apply for a deposit and it will take at least half a month.
As long as you have VIP3 or above, you can place orders for trading as a merchant, without the need for complicated applications and a deposit of 1wu.
Deposits usually depend on the cash flow in your card. Merchants are also afraid that there is a problem with your money, so they usually ask you to settle it for a while, that is, there has been no transfer in the last week or half a month.
What if you are not in a hurry? One way is to find a group friend and ask him to place an order on the gate, and then you can trade with him. In this way, the platform will act as a free intermediary, and you don’t have to worry about the other party running away after you pay first or pay first.
However, companies like OUYI have orders that do not require verification, and you can also look for this type of order. There is a filtering function on the c2c page, you can filter it.
This type of payment is usually made through WeChat or Alipay. You may not be able to pay the first time you buy from them, so it is recommended that you add a few merchants' Alipay and WeChat accounts to facilitate future transactions.
There is no risk of freezing bank cards for c2c deposits. If a card is frozen, it is for protection purposes and will usually be automatically unlocked within a month. This is mainly because there are some problems with the other party's card and the relevant department is afraid that you will be cheated, so they freeze the data model.
The biggest risk of buying U in the cryptocurrency circle is non-counter transactions. This is mainly because you put money in the card too frequently or you don’t spend much money on weekdays. As a result, the single transfer amount this month is too large. The bank will ask you the reason for the transfer afterwards. If the explanation is not good, it may be non-counter transactions. For example, if you tell the bank that you are speculating in cryptocurrency, the bank will most likely non-counter you.
Non-counter means you cannot use online transfer, Alipay, or WeChat transfer, you cannot withdraw money from the ATM or swipe your card for payment. You can only go to the manual counter and ask them to help you transfer money or cancel your card to withdraw cash.
Non-counter withdrawals can generally be cancelled without affecting the money in the bank card, but some areas require you to go to the anti-fraud center to get a certificate before you can cancel it, otherwise you will not be allowed to withdraw the money. This type of non-counter withdrawal is a bit troublesome.
In many small places, the anti-fraud center is the Economic Investigation or Criminal Investigation Brigade of the Public Security Bureau. You need to do some preparation before going there, and most people have no experience of dealing with uncles.
Non-counter cancellation is more troublesome, and it depends on the bank where you opened the account. It varies from region to region, but fortunately there are more than a dozen different banks in each city.
If the amount is not large, tens of thousands or hundreds of thousands of yuan, you can consider using Alipay. One person can register 5 Alipay accounts, but it is recommended to add several merchants' Alipay accounts as friends. It is very likely that the money will not be remitted when paying a stranger for the first time. It will be much easier if you have added friends for a few months. The same is true for WeChat transfers. Transferring a large amount right after adding the other party will easily be subject to risk control, but it will be much easier to transfer money after adding friends for a period of time.
The reason why Alipay is recommended instead of WeChat is that you can create a small account with Alipay, while WeChat has social attributes. Once something goes wrong, there is a chance that your main WeChat account will be affected.
2. Credit card deposit
You can also deposit funds via credit cards, and there are many channels, but they basically all have costs.
I'm here to announce the estimate of 0-cost deposit for the first time. You need to have a Huawei phone with NFC function. You can write the card into Huawei wallet through JD's "Quick Pay" function. In Huawei wallet, you can choose to scan the other party's WeChat code to make the payment. Usually a JD account costs 3,000 yuan per month. If you have multiple mobile phone numbers, you can register multiple JD accounts, 10 of which is 30,000 yuan. Then you can make a cryptocurrency credit card deposit with 0 service fee.
The money received by the merchant is also complete, and the other party receives the same amount as you pay. There is no handling fee, unlike Alipay's Huabei, when you choose Huabei for payment, the merchant will bear a fee rate.
3. USD and HKD deposits
If you have an overseas card, you can withdraw money smoothly without worrying about the card being frozen.
The bank exchanges USD for about 7.2005. Today, Industrial Bank has the best deal. Yes, each bank quotes different prices every day. Wire the money to a Hong Kong card, and then wire the money to a compliant platform. The handling fee is only 100U. The annual limit for each person is 50,000 yuan, which is equivalent to earning about 9,000 yuan.
Of course, what if the bank requires materials or something?
You can ask Alipay's partner Panda Express to help you
What if I don’t have a Hong Kong card or an overseas card?
It's simple. You need to apply for a Hong Kong and Macau Pass, get a visa, and go to Hong Kong in person to open it. You need to make an appointment in advance and bring the customs receipt, and print out a credit card statement in advance. The credit card app can set your home address, so you have proof of address. They will generally ask you what you want to do with the card. Just say that you want to invest in Hong Kong stocks. Different banks have different rules.
There is another simple method: Changqiao Securities assists in applying for a Hong Kong card for free, and helps you make an appointment, etc., which can save you a lot of trouble and effort. China Merchants Bank and China Merchants Wing Lung Bank are more convenient to use. Most of the money on the cryptocurrency platforms will not be stuck. Bank of China Hong Kong and HSBC are not so friendly, but they do not charge management fees. The cost of holding a card is lower, so you can also get it by the way. The same Hong Kong and HSBC have different requirements for different branches. It is recommended to do homework in advance, and then Changqiao will have the advantage.
Most people rarely go to Hong Kong, and it is troublesome and costly to go there once. If the holding cost of Hong Kong cards is low enough, try to get 2-3, because some policies on virtual currencies are also changing at any time.
What if I can’t leave the country?
You can apply for Standard Chartered with your deposit. I am also using Standard Chartered. I have a deposit of 500,000 RMB for three months. You can directly ask them to convert it into US dollars. The interest rate for depositing US dollars is a little higher. Bank deposits are insured. Even if Standard Chartered goes bankrupt, someone will compensate. The advantage of Standard Chartered is that it can handle Singapore and Hong Kong at the same time. Now there is also Dubai. Dubai Standard Chartered will most likely support direct virtual currency withdrawals in the future, but the requirements may also be a little bit. If you don’t have 500,000, look at other ones, such as Nanyang, Minsheng, etc., which can be opened with a deposit of about 100,000.