We will explore in this article the top Chinese crypto exchanges.
Crypto exchanges are digital marketplaces where you can buy and trade your cryptos.
You can’t buy crypto from a bank or investment firm. Once you have decided you want to buy any cryptocurrency; you have to create an account on a crypto trading platform where you will exchange your U.S. dollars (or any other currency) for digital assets.
Kindly read through to know more about the top Chinese crypto exchanges in 2023.
What is a Crypto Exchange?
A crypto exchange is a platform where you can buy and sell cryptocurrency. It can be used to trade one crypto for another. for example, converting Bitcoin to Litecoin or buying crypto using regular currency, such as the U.S. Dollar or other currencies.
Exchanges show the current market prices of all the cryptocurrencies they offer. You can also convert cryptocurrencies back to U.S. dollars or another currency on an exchange to leave them as cash in your account if you want to withdraw to your regular bank account.
Top 10 Chinese Crypto Exchanges in 2023
Here is a compiled list of some of the top Chinese crypto exchanges in 2023 you should consider using:
BTCC
The BTCC is the second largest Chinese crypto exchange and the longest-running Bitcoin exchange globally. Funding of your exchange account online via bank transfer Is possible in BTCC.
Pros
- BTCC exchange has excellent liquidity and good prices
- The Bank deposits are processed within 30 minutes of confirmation
Cons
- Not private since it requires identity verification
- The interface may be confusing for first-timers
- It has Limited payment methods; only bank transfer
- Any Bank transfers not originating from China Merchants Bank might be delayed outside regular banking times.
Coinmama
The Coinmama exchange allows customers to buy and trade bitcoin in almost every country. They charge a 4.9%-5.9% fee on each purchase, depending on volume.
Customers in Europe can also buy bitcoins with SEPA transfer for a lower fee.
Pros
- It works in almost all countries
- it is a Reliable and trusted exchange
Bitfinex
The Bitfinex accounts can be funded by bank wire only; their fee on accepting transfers is low at only 0.1%.
Pros
- They have very low fees even for low volume buyers; 0.1% for market makers and 0.2% for market takers.
- It Allows lending of fiat or bitcoin to margin traders at interest
- Very deep liquidity promotes a price close to fair market rate
- It Supports several altcoins
OKCoin
The OKCoin is the largest Chinese crypto exchange. You can make deposits to your exchange accounts via bank transfer.
Pros
- The OKCoin has excellent liquidity and good prices
- Has Wechat integration
- It Offers USD as well as CNY trading
Cons
- Not private since it requires identity verification.
- The interface may be confusing for first-timers
- Has Limited payment methods; only bank transfer
Huobi
The Huobi is the third-largest Chinese crypto exchange. one can fund their exchange account online using CNY bank transfer or USD via OKPay (1.5% fee) or international wire transfer (1% fee).
Pros
- The Huobi has great liquidity and reasonable prices
- bilingual customer support
- It Offers USD as well as CNY trading
Cons
- Not private since it requires identity verification
- The interface might be confusing for first-time buyers
- It has Limited payment methods; only bank transfer
Bitcoin ATMs
You can use the Bitcoin ATM map to buy bitcoins with cash. The Bitcoin ATMs are a quick and easy way to buy bitcoins, and they are also private. Most ATMs have fees of 5-10%.
Pros
- the map makes it easy to find a Bitcoin ATM near you
Cons
- Bitcoin ATMs have 5-10% fees per purchase
PAYBIS
This Paybis is a popular crypto exchange. They serve 180 countries and 48 U.S. states, and they are registered with FinCEN, making them a trusted and regulated exchange. Paybis exchange offers incredibly high limits and super-fast payouts.
Pros
- 24/7 live support
- Extremely high limits
- five Minute verification
- fast payouts
- Large selection of payment methods
Cons
- No traditional orderbook for advanced traders
Read also:
Is Huobi Global Safe? Huobi Exchange Review, Pros, and Cons
Is LBank Exchange Legit? See What People are Saying
Ekart Inu Coin Predictions and Exchanges
Crypto Exchange Vs Wallet: What is The Best Place to Keep Your cryptocurrency
FTX Exchange Review: Is FTX Exchange Legit and Safe
Can I Buy Bitcoin with Yuan?
It is possible for Chinese individuals to buy bitcoin and other cryptocurrencies and also trade them on overseas cryptocurrency exchanges like Binance.
Yuan payments for these purchases are made via banks or commonly-used online payment platforms in over-the-counter (OTC) markets.
There is no one particular crypto exchange that is best for every user, Instead, evaluate your interests when it comes to crypto, and find any crypto exchange that aligns with your goals.
Let’s have your view on the top Chinese crypto exchanges as discussed in this article. Please share your thought with us.
Watch the video below to know the best Chinese Crypto exchanges in 2023:
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