Cryptocurrency has become a globally recognized form of digital asset and investment vehicle. Despite China's strict regulatory stance on crypto trading, many individuals within the country are still interested in purchasing digital currencies like Bitcoin and Ethereum. The key lies in understanding how to do so safely, legally, and through compliant methods.
While the Chinese government prohibits domestic financial institutions from providing services related to cryptocurrency transactions, owning or buying crypto itself is not illegal for individuals. As long as you're not engaging in illegal activities such as money laundering or fraud, personal investment in digital assets remains a personal financial choice—albeit one that comes with risks and no legal protection.
This guide will walk you through the practical steps to buy cryptocurrency in China while complying with current regulations, using secure and widely trusted platforms.
Why Use a Global Exchange to Buy Crypto in China?
The most effective way for Chinese users to purchase cryptocurrency is through overseas-based, compliant exchanges that support C2C (peer-to-peer) trading and multiple payment methods. These platforms allow users to buy stablecoins like USDT using RMB, which can then be traded for other cryptocurrencies such as BTC or ETH.
One platform frequently recommended for beginners due to its user-friendly interface, strong security measures, and broad language support is a well-established international exchange. It supports:
- Easy registration with email and phone
- C2C trading with RMB via bank transfer
- Wide selection of cryptocurrencies
- Multi-layer authentication and encryption
👉 Discover a secure and easy way to start your crypto journey today.
Step-by-Step Guide: How to Buy Cryptocurrency in China
Follow these clear steps to safely acquire your first digital assets from within China.
Step 1: Register an Account
Visit the official website of the exchange and begin registration:
- Enter your email address
- Slide to verify and complete the captcha puzzle
- Check your inbox for a verification code (valid for 10 minutes)
- Confirm your email
Once verified, proceed to the next step.
Step 2: Verify Your Phone Number
- Input your mobile number
- Choose your country code (e.g., +86 for mainland China)
- Receive a 6-digit SMS code
- Enter it within the 10-minute validity window
Step 3: Accept Terms and Set Up Security
- Select your country of residence
- Agree to the Terms of Service, Risk Disclosure, and Privacy Policy
Create a strong password meeting these criteria:
- 8–32 characters long
- At least one uppercase letter
- One lowercase letter
- One number
- One special symbol (e.g., ! @ # $ %)
Strong passwords are essential to protect your digital assets.
Step 4: Complete Identity Verification (KYC)
Although basic trading is possible without full KYC, higher limits and additional features require identity verification:
- Submit government-issued ID (passport or national ID)
- Complete facial recognition (usually done via the mobile app)
- Wait for approval (typically within minutes)
Higher verification levels unlock greater withdrawal and trading limits.
Step 5: Deposit Funds via C2C Trading
Since direct RMB deposits aren't supported on most global exchanges, use C2C trading to buy USDT (Tether), a stablecoin pegged to the U.S. dollar:
- Navigate to the C2C Trading section
- Search for sellers who accept RMB via Alipay, WeChat Pay, or bank transfer
- Select a reputable seller with high completion rate and positive ratings
- Enter the amount of USDT you want to buy
- Transfer RMB to the seller’s designated account
- Once confirmed, the seller releases USDT to your account
Always wait for confirmation before sending money. Never release payment until the seller has locked the funds.
👉 Start buying USDT with RMB in minutes using peer-to-peer trading.
Step 6: Trade USDT for Other Cryptocurrencies
Now that you have USDT in your wallet, you can trade it for popular cryptocurrencies:
- Go to Trade > Spot Trading
- Search for the trading pair (e.g., ETH/USDT for Ethereum)
- View real-time price charts and market data
- Enter the amount of ETH you wish to buy
- Click Buy ETH
Your purchased cryptocurrency will appear in your spot wallet immediately.
You can repeat this process for Bitcoin (BTC), Solana (SOL), or any other supported coin.
Is Buying Cryptocurrency Legal in China?
This is one of the most frequently asked questions—and it's important to clarify.
✅ What’s Allowed:
- Owning cryptocurrency as a personal asset
- Using overseas exchanges to buy or trade crypto
- Peer-to-peer (P2P) transactions between individuals
- Holding crypto in private wallets
❌ What’s Prohibited:
- Operating or participating in domestic crypto exchanges
- Banks or payment processors facilitating crypto transactions
- Initial coin offerings (ICOs) and public crypto fundraising
- Mining operations (banned since 2021)
In short: Buying and holding crypto is not illegal, but institutional support and public trading are banned. All responsibility falls on the individual investor.
Frequently Asked Questions (FAQ)
Q: Can I get in trouble for buying crypto in China?
A: No, if you’re acting as an individual investor using overseas platforms and not involved in illegal activities like fraud or money laundering, personal ownership is not against the law.
Q: Do I need to pay taxes on crypto gains in China?
A: While there is no formal crypto tax framework currently enforced, capital gains from asset sales may fall under existing property or income tax regulations. Consult a tax professional for advice.
Q: Are P2P transactions safe?
A: They can be safe if you follow best practices—use only verified sellers, trade on reputable platforms with escrow protection, and never share personal information.
Q: Can I use WeChat or Alipay to buy crypto?
A: Direct integration is blocked, but many P2P sellers accept payments via these apps during C2C trades on global exchanges.
Q: What happens if I send money but don’t receive crypto?
A: Most platforms offer dispute resolution teams. File a complaint immediately with proof of payment. Escrow systems usually protect buyers when rules are followed.
Q: Are there alternatives to buying crypto online?
A: Yes—some users purchase through private meetups or crypto ATMs abroad, though fees are often much higher.
Key Tips for Safe Crypto Investing in China
- Always use two-factor authentication (2FA) on your exchange accounts.
- Store large amounts in cold wallets (hardware wallets) rather than exchange wallets.
- Avoid sharing your recovery phrase with anyone.
- Be cautious of phishing sites—always double-check URLs.
- Keep software and apps updated to prevent vulnerabilities.
👉 Secure your first crypto purchase with industry-leading protection tools.
Final Thoughts
While China maintains a strict regulatory environment around cryptocurrency, individuals still have viable pathways to enter the market safely. By leveraging global exchanges with C2C functionality, Chinese investors can buy USDT with RMB and trade it for major cryptocurrencies like Bitcoin and Ethereum.
The process is straightforward once you understand the steps—and with proper security practices, you can minimize risk significantly.
Remember: There’s no government backing or consumer protection for crypto transactions in China. You are solely responsible for your investments.
As blockchain technology continues to evolve globally, staying informed and cautious is the best strategy for long-term success.
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