How to safely buy and sell Bitcoin and other digital currencies in China
In China, buying and selling cryptocurrencies into U and then converting them into RMB may encounter the following problems
1. There is a probability of involving black money, illegal business operations and aiding and abetting
2. Disrupting the foreign exchange market
3. Bank cards are frozen by bank regulators, etc.
As a country with a population of 1.4 billion, and cryptocurrencies being a global financial market, is there no safe way to buy and sell Bitcoin and other cryptocurrencies?
The answer is: Yes! It is Hong Kong! (Hong Kong is an inseparable part of China), and Hong Kong cards can solve many problems.
Due to the "one country, two systems" principle, Hong Kong has issued virtual currency regulations, and the issuance of virtual currency trading licenses is managed by the SFC (Hong Kong Securities and Futures Commission).
Currently, three Hong Kong companies, Hashkey, osl, and HVAX, have obtained license No. 7, which can provide legal currency and U exchange services, and provide functions such as charging U for legal currency, legal currency for U, on-chain U withdrawal, Bitcoin trading, etc.
However, these three companies are not directly open to mainland residents.
Although these three are not open to inland residents,
There is a Hong Kong veteran brokerage firm, Victory Securities, which holds a license No. 1, cooperating with Hashkey.
The original No. 1 license allows companies to conduct securities trading business, but if certain conditions are met, the No. 1 license can be upgraded to conduct virtual currency trading business.
Shengli Securities upgrades the original traditional No. 1 securities license (which can trade Hong Kong stocks and US stocks) to functions such as trading cryptocurrencies.
Moreover, Shengli Securities supports the opening of accounts for residents in mainland China, and can use the U and legal currency exchange function provided by hashkey, which greatly reduces the threshold for inland legal currency and U exchange. In this way, you can exchange legal currency and U, buy Hong Kong and US stocks, and buy virtual currency.
The most important thing is that all your cryptocurrency trading and deposit and withdrawal behaviors are safe and legal.
