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Virtual currency is now legal in Hong Kong! Teach you how to buy it
1. Go to Hong Kong with cash first.
2. Then deposit the money in a bank in Hong Kong.
3. Then convert the money into US dollars and remit it to Schwab.
4. Then you can buy Bitcoin spot ETF.
Tips:
1. When transferring money from Hong Kong to Schwab, it is best to use ibkr to exchange currency and then remit it via ACH. This is the most cost-effective. The second is to use Wise. It is the most expensive to exchange currency directly at the bank and then remit it by wire.
2. ibkr is actually a brokerage firm. You can't just use it to exchange currency. You can buy some US stock index ETFs and sell them when you want to exchange currency, and the money will go to Schwab. Then remit the money to ibkr and buy back the index ETF to keep it. If you have the habit of buying US stocks, it will be even better. In this way, the money you transfer each time can steadily increase in value.
Then I will teach you how to take out the money conveniently:
1. Withdraw cash from Schwab to ibkr first.
2. Change the money to RMB at ibkr, and then withdraw it to your HSBC bank card.
3. Take your HSBC MasterCard and go to HSBC ATM to withdraw cash!
Pay attention to these tips for daily consumption:
1. Try to swipe your card wherever you can, it is convenient and fast.
2. When buying things on Taobao, switch the region to Hong Kong and pay directly in Hong Kong dollars, saving worry and effort.
3. WeChat Wallet has a Hong Kong version, and some merchants also support payment.
4. Alipay can bind your Hong Kong card, and payment is more convenient.
5. Although Wise can directly transfer money to your Alipay, I don’t recommend doing this unless you just want to buy something small.
1. Go to Hong Kong with cash first.
2. Then deposit the money in a bank in Hong Kong.
3. Then convert the money into US dollars and remit it to Schwab.
4. Then you can buy Bitcoin spot ETF.
Tips:
1. When transferring money from Hong Kong to Schwab, it is best to use ibkr to exchange currency and then remit it via ACH. This is the most cost-effective. The second is to use Wise. It is the most expensive to exchange currency directly at the bank and then remit it by wire.
2. ibkr is actually a brokerage firm. You can't just use it to exchange currency. You can buy some US stock index ETFs and sell them when you want to exchange currency, and the money will go to Schwab. Then remit the money to ibkr and buy back the index ETF to keep it. If you have the habit of buying US stocks, it will be even better. In this way, the money you transfer each time can steadily increase in value.
Then I will teach you how to take out the money conveniently:
1. Withdraw cash from Schwab to ibkr first.
2. Change the money to RMB at ibkr, and then withdraw it to your HSBC bank card.
3. Take your HSBC MasterCard and go to HSBC ATM to withdraw cash!
Pay attention to these tips for daily consumption:
1. Try to swipe your card wherever you can, it is convenient and fast.
2. When buying things on Taobao, switch the region to Hong Kong and pay directly in Hong Kong dollars, saving worry and effort.
3. WeChat Wallet has a Hong Kong version, and some merchants also support payment.
4. Alipay can bind your Hong Kong card, and payment is more convenient.
5. Although Wise can directly transfer money to your Alipay, I don’t recommend doing this unless you just want to buy something small.
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.
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