Paxful and LocalBitcoins are P2P platforms that continue to operate in China. To get the best Bitcoin seller filter using the following criteria: Opening accounts on these platforms are relatively easy.Ī majority of P2P marketplaces provide escrow services to prevent scamming. Like sellers, Bitcoin buyers can also set up adverts with their preferences. Sellers can create adverts to specify the number of Bitcoins they have, the payment method they accept, and prices.īuyers can browse offers available using various criteria such as location and price. Peer to Peer Marketplaces (P2P): These noncustodial platforms connect Bitcoin buyers to sellers. Then, we'll check what their global counterparts in countries like the UK and USA use to buy Bitcoin. Let's look at some of the platforms available for Chinese citizens to circumvent the crypto ban laws. Users can liquidate these assets when they use OTC desks, P2P marketplaces, or travel to Hong Kong. Many citizens continue to hold onto their crypto assets. However, holding crypto in China is not prohibited. Following the ban, major crypto exchange platforms like Binance and OKEx exited the market. Since the ban on crypto activities in China, most platforms have started to delist Chinese citizens. What Options Do I Have When Buying Bitcoin in China? On Paxful, Chinese buyers don't have to verify their IDs.īeginners need to consider several factors such as volatility, security, and fees before investing in Bitcoin. Guidelines for buying Bitcoin on P2P platforms are pretty straightforward. There are P2P marketplaces and OTC desks that Chinese mainland residents can use to buy Bitcoin.Īlipay, WeChat Pay, and Bank transfers are the payment options available to Bitcoin buyers. This effectively locked out Chinese residents from purchasing Bitcoin, even on overseas exchanges. Your capital is at risk when using the above platforms Key TakeawaysĬhina banned crypto exchanges and trading in 2017 and late 2021.
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