China has a ban on crypto trading, but there are still people who invest in crypto assets. If you’re a Chinese resident seeking to buy Bitcoin or any other crypto assets, you’re not alone.
However, you need to choose carefully the exchange you’ll use to buy the assets. One of the things to consider is the integrity of the exchange, that is how long it has been in existence and what is its reputation like.
Secondly, consider the ease of using such a platform. For most people and especially beginners, the ease of using a platform is paramount if you wish to use it to buy and trade crypto assets.Therefore you should pick a platform that is also easy to use.
Thirdly, consider its security. What are some security measures put in place by the exchange, and if possible the measures in place in case something goes wrong? Considering these factors, here are the best crypto exchanges to use in China.
Binance
Binance has over 160 million people in the world and is the largest crypto exchange by trading volume. This is an attestation to its security and reliability which are fundamental things to consider in choosing an exchange.
The platform supports over 300 assets you can buy, sell, and trade. Another thing Binance is known for is its deep liquidity which makes it great for trading any crypto asset it lists.
Binance is a platform for everyone, with a Pro version for experienced traders and a Lite version for beginners.
It also has a proof-of-reserve, which is a proof that users’ assets are supported by a reserve of funds should anything go wrong with the wallet.
You can deposit funds on the exchange using various methods including bank transfer, debi/credit cards, and many others.
Coinbase
Coinbase is an exchange globally used to trade hundreds of crypto assets. It has a reputation as the platform for beginners with its simple user interface.
The exchange is known to store 95% of users’ funds offline in cold storage, ensuring that funds are adequately protected at all times.
Although Coinbase’s fees are considered higher than average, it has a unique selection of assets that most exchanges lack, and is one of the oldest crypto exchanges around.
You can use different methods to deposit funds on the platform, including bank transfer, credit/debit cards etc.
CEX.IO
CEX.IO is known as a reliable platform for crypto trading based in the UK. regulated by the Financial Conduct Authority, the exchange is one of the easiest to use, even for absolute beginners.
It is also known to charge low fees compared to other platforms, making it the go-to platform for many investors. The platform also allows users to earn staking interest on crypto assets they hold when they stake such assets.
You can earn up to 15% annual crypto rewards when you stake assets like that. You can also access the exchange on your mobile phone through its mobile app, giving you round the clock access to all the features.
NEXO
Nexo is a crypto trading platform that is designed to give users simple access to the crypto world. The platform is also excellent for earning staking interest on your portfolio. You can trade 60+ cryptocurrencies and earn rewards of up to 0.5% on every transaction.
The mobile app is designed for simple use, allowing both beginners and seasoned traders to enjoy uninterrupted access. You can also use your portfolio to access crypto loans using your assets as collateral.
KuCoin
KuCoin is a reputable social trading platform that is popular in China. Beginners can trade up to 700 altcoins while copying pro traders from over 200 countries.
Apart from social trading, its other features include a staking service to earn money on your stored crypto, an NFT marketplace.
The platform also charges some of the lowest fees on trades, making it a great place to start your crypto trading journey.
