Post
Topic
Board Bitcoin Discussion
Re: How Chinese Bitcoin Buyers Are Getting Around Government Ban
by
Mystezi
on 28/01/2018, 08:37:33 UTC
Another way chinese buyers get around the government ban is by trading OTC themselves on websites (zb.com).There are hundreds of brokers working in wechat group seeling all sorts of coins.For example, if you live in Beijing and want to buy some bitcoins you can login to zb.com where you can find sellers across the whole china willing to accept RMB via wechat pay or alipay as a payment method.

Once your payment is verified by the exchange, the bitcoins will be transferred to you.So this is one way to buy bitcoin in China without complicated account opening and money transfer.

Another method is the traditional exchange method such as buying from exchanges like Coinbase,Bitfinex.However,to find such overseas account with fiat currency,you will be restricted with the USD $50,000 per year limit for cross-border exchanges.