A. How to trade domestic bitcoins
There are two types of bitcoin transactions, one is spot trading on a centralized trading platform, and the other is decentralized trading Transactions on the platform
The way is similar, buyers and sellers trade at a suitable price
1. Centralized exchanges are similar to stock market transactions, pending order transactions, real-time transactions, can be Referring to several well-known trading platforms with the largest trading volume in the world, Huobi OKEX Binance
2, decentralized exchanges, direct transfers between wallets, not through the platform, similar to the platform Disadvantages: unable to place orders, slow transaction
B. Is bitcoin trading legal in China?
“Bitcoin is illegal in China, and China is still There is no legal protection for Bitcoin transactions. Bitcoin is not a legal currency issued by the Bank of China, it is a virtual digital currency. Although China has no clear legal basis to prove that Bitcoin is legal or illegal, Chinese laws and regulations do not support public Bitcoin transactions.”
According to the “Notice on Preventing Bitcoin Risks” issued by the People’s Bank of China on December 5, 2013:
Bitcoin has four characteristics: no centralized issuer, limited total amount, no geographical restrictions and anonymity. main feature. Although Bitcoin is called “currency”, it is not a real currency because it is not issued by the monetary authority and does not have currency properties such as legal compensation and compulsion. In nature, Bitcoin should be a specific virtual commodity that does not have the same legal status as currency, and cannot and should not be used as currency in the market.
“Civil Code” Article 680 It is prohibited to lend at high interest, and the interest rate of borrowing shall not violate the relevant state regulations. If the loan contract does not stipulate the payment of interest, it shall be deemed that there is no interest. If the loan contract does not clearly stipulate the payment of interest, and the parties cannot reach a supplementary agreement, the interest shall be determined according to the local or the parties’ transaction methods, transaction habits, market interest rates and other factors; loans between natural persons shall be deemed to have no interest.
There is no relevant law. Our country only suspends the exchange of bitcoin, and does not declare that it is illegal to hold and trade bitcoin over the counter. The origin of Bitcoin is that libertarians represented by Satoshi Nakamoto seek a transaction method that is not bound by the central banking system. These people expect a monetary system with a higher degree of freedom. Bitcoin is recognized as belonging to this time. Digital assets can be used as delivery objects.
But according to domestic laws and regulations, Bitcoin does not have monetary functions, but this does not prevent it from being a digital asset and can be used as a delivery object. China has never had a “bitcoin illegal” policy.
Kong Jianping said: “Mainland China’s policy is generally to support technological innovation and prevent financial risks. In 2013, the five ministries and commissions document stated that Bitcoin is a virtual commodity, and ordinary people can freely participate in trading, but financial institutions cannot participate. China does not have it. The policy of “Bitcoin is illegal”. The documents of the seven ministries and commissions in 2017 have nothing to do with Bitcoin. We found that in 2017, we saw that many leaders of the central bank spoke about the regulation of digital currency. After July 18, 2019, There are only two words in all speeches, “research”, not “supervision” anymore, and the changes are very big. At the same time, the National Development and Reform Commission also deleted the digital currency mining that was originally planned to be included in the “elimination category”.”
According to the government’s latest attitude on Bitcoin in 2013: Bitcoin belongs to the user’s private virtual assets, so it actually means legal protection, which can also be reflected from the actual cases in our country: 2018 A Chinese court recently ordered a company to pay back stolen cryptocurrency in a civil dispute, setting a legal precedent for cryptocurrency-related disagreements. This court in Shenzhen is actually confirming that cryptocurrencies have economic value in civil disputes.
Of course, the platform you choose to buy bitcoin is also very important, because this is an early market that is relatively unregulated or unlicensed, and you must choose an exchange with a relatively high degree of internationalization, because it also means that these exchanges After verification by foreign users and regulations, it is recommended to buy from a top exchange like ZBZB to prevent the loss of your own funds.
C. How to invest in bitcoin in China
Don’t invest in bitcoin, bitcoin is a worthless garbage currency Issued by rich leeks, don’t even give it to Buffett!
D. Can Bitcoin be traded in China?
Bitcoin cannot be traded in China.
On September 4, 2017, the People’s Bank of China and other seven ministries and commissions issued the “Announcement on Preventing Token Issuance Financing Risks”, requiring a comprehensive clean-up and rectification of the transactions of financing tokens and virtual currencies in China.
On September 14, 2017, the regulatory authorities have issued domestic bitcoin transactions.Yi platform concluded: “All closed, and will withdraw from the market in the near future.”
Subsequently, Bitcoin China, Webit, and Yunbi.com announced the suspension of all trading operations.
E. How to buy BTC in China is relatively simple, do you have a platform to recommend?
Remember not to go to small platforms, large platforms are generally very user-friendly, you can download OKEx APP, the operation is simple, and the account is fast, basically 1 minute to the account, and you can store it in the wallet of the APP after you buy it.
F. Is the domestic bitcoin transaction legal?
For domestic bitcoin transactions, you need to go through the OTC exchange.
OTC (Over-The-Counter), refers to “over-the-counter transactions” or “over-the-counter transactions”, also known as legal currency transactions, which refer to digital currency and legal currency transactions between individuals.
Simply put, a fiat currency transaction is a transaction method that uses physical currency to purchase virtual currency.
The currency transaction is easier to understand, literally, the virtual currency-to-virtual currency transaction.
Tiger-Character-Exchange-Exchange is quite good, safe, reliable and stable. I have used it for more than a year.
G. How Ordinary People Buy Bitcoin
Invest at an affordable cost.
【Expanded information】1. Many novice investors are often attracted by the high profits of Bitcoin and cannot control the invested funds well. Important inputs such as education and medical care flow out, and the remaining idle funds can be considered for inclusion in the field of bitcoin investment, and choose to seize the opportunity to enter the market based on market conditions. Doing so can effectively avoid the all-or-nothing gambling mentality, control the cost of investment, and avoid losses caused by risky investments.
Second, Skills Two, stay firm, don’t be half-hearted. Investing in Bitcoin is a protracted battle. Because of its unique characteristics, Bitcoin only needs time to be bullish for a long time. Therefore, when the market trend chart and technical operating system show short-term market fluctuations, investors need to be rational and patient. They do not have to buy or sell with most people, but should choose to stick to it and believe in the long-term value of Bitcoin.
Three, skills three, choose the appropriate trading platform. Buying Bitcoin and choosing a suitable trading platform is crucial to success. As an old driver who has been in the currency circle for a long time, the following points are personal experiences in choosing a Bitcoin trading platform for many years, for reference only: Word of mouth and technical strength; how much the platform has registered capital; how professional the team of 3 units is; the current transaction volume and number of people on the platform;
Fourth, in order to avoid risks to the greatest extent, the first thing to do when trading Bitcoin is the European trading platform
Five, Bitcoin (Bitcoin) is a decentralized, peer-to-peer network and consensus initiative, open The source code, a virtual cryptocurrency with blockchain as the underlying technology, was proposed by Satoshi Nakamoto in 2008 and was born in 2009. The biggest difference from other virtual currencies is that its total number is very limited and it has scarcity.
6. Unlike all currencies, Bitcoin is not issued by a specific currency institution. It is generated by a large number of calculations according to a specific algorithm. The Bitcoin economy uses a distributed database composed of many nodes in the entire P2P network to confirm and record. All transaction behaviors and the use of cryptographic design to ensure the security of all aspects of currency circulation.
7. The global financial crisis broke out in 2008. On November 1, 2008, a person calling himself SatoshiNakamoto published the Bitcoin white paper “Bitcoin: A Peer-to-Peer Electronic Cash” on the P2P?foundation website System”, stating his new vision for electronic money – Bitcoin was born. On January 3, 2009, the Bitcoin genesis block was born.
On January 5, 2009, Bitcoin, which is not controlled by the central bank and any financial institution, was born. Bitcoin is a digital currency consisting of a string of complex codes generated by a computer. New bitcoins are made through a preset program. Reached the total cap of 21 million.
H. Can Bitcoin be traded in China? Why?
Bitcoin can be traded in China. Withdrawal function, Bitcoin transactions are prohibited, but the way of Bitcoin transactions still exists. Many countries have legalized Bitcoin, so transactions are naturally allowed. They naturally have some exchanges, so exchanges like Binance can still trade after climbing the wall. These are relatively large and well-known trading platforms, and there are many others that can be traded.
The state’s attitude towards ordinary people’s participation in bitcoin transactions is explained in a simple way: this matter is very risky, and everyone should be careful to participate. If you do, you�You should bear the loss yourself. The state’s attitude towards whether ordinary people can participate in bitcoin transactions is: not encouraged, not prohibited, and at your own risk. We can say with certainty that it is legal for ordinary people to buy and sell bitcoin, as long as it is not used for illegal activities, and of course buying and selling bitcoin itself is not a pyramid scheme.