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Board Trading Discussion
Topic OP
Converting Chinese RMB to BTC to USD?
by
fajrero
on 02/06/2017, 13:22:05 UTC
Hello,

I currently reside (and work) in China, and I have about $10,000 USD worth of RMB that I would like to transfer to my bank account in the US.

Unfortunately, recent laws have made it a bit more difficult to transfer money out of China (I used to do it in a 45 minute trip to the bank...).

I am quite new to Bitcoin. I have a wallet, but don't presently own any Bitcoin (I have placed an order, but still have a few more days until I receive it).

How easy would it be to take my RMB (Chinese currency), buy Bitcoin with it, and then purchase USD with the Bitcoin and transfer that USD to my bank account in the US?

I currently have an account on Coinbase, if that helps.

Thanks for any tips/advice,

-Faj