Buying Bitcoin in Hong Kong
While Bitcoin is a global currency with worldwide interest, there are a few local hubs when it comes to Bitcoin activity and Hong Kong is certainly a Bitcoin hotspot. There are many ways in Hong Kong to buy and cash out Bitcoin, and in this post we will focus on the latter.
Cash Points are locations connected to Bitspark where people can exchange cash to crypto and vice versa. Some of our customers have opened Cash Points in physical locations like shops and restaurants, whereas others prefer to offer the service in a mobile way. Buying and selling crypto with cash makes it practical, and the way it works is simple:. You can find the nearest Cash Point near you from the map in the Bitspark app. Cashing out Bitcoin in Hong Kong has now become considerably easier.
With the app, find the nearest Cali-Mex restaurant that has joined the Cash Point network, and go to that restaurant. Inside, you need to scan the QR code and make the cash out transaction with one of the Cali-Mex staff. Find out more about Cali-Mex Cash Points. Most ATMs only support the buy Bitcoin function, but some also give you the option to cash out Bitcoin.
These rates are usually built into the exchange rate so make sure you are aware of the HKD to BTC rate before you go ahead with the transaction. You can also cash out Bitcoin by transacting directly with another person that has BTC and wants to sell it for cash. The most popular and trusted peer to peer platform to do this is LocalBitcoins.
While the platform has recently banned cash trades, you can still cash out Bitcoin through bank transfers. The platform serves as the custodian in the middle of the transaction that makes sure both parties receive their end of the trade. Choose the rate and provider that meets your requirements and make the transaction.
If you prefer to deal in cash only to get HKD bills for your Bitcoin, then the 2 options mentioned above are more suitable for you. Hong Kong is home to many crypto exchanges that serve the local market, and while most focus on buying Bitcoin for some this can only be done through credit cards , there are few exchanges that give you a way to cash out Bitcoin in HKD.
Cashing out BTC through an exchange is almost exclusively done through bank transfers and the fees differ greatly between exchanges. Before you send your BTC to your account on one of the Hong Kong crypto exchanges, make sure that bank transfers are supported for your bank.
See the full list of Hong Kong crypto exchanges. Pro tip: If you have used any of the major global exchanges like Binance to buy Bitcoin and still have the BTC in that address but want to cash out in HKD , you can do so easily by just sending the coins to your Bitspark wallet on your mobile app and cashing it out at Cali-Mex.
Log In. Log in. How to cash out Bitcoin in Hong Kong Money. Cash out Bitcoin at Bitspark Cash Points Cash Points are locations connected to Bitspark where people can exchange cash to crypto and vice versa. Buying and selling crypto with cash makes it practical, and the way it works is simple: Bitspark has stablecoins pegged to local currencies Cash Points are a place where people buy or sell stablecoins using cash - at flat fee of 1.
Why is the price of Bitcoin different across countries?
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Buy Bitcoin and trade Crypto Currencies in Hong Kong with these Exchanges:
I want to actually buy the bitcoin to trade on Exodus. Are there any recommendations? Hi Luvtonслова. what is the best cryptocurrency exchange in canada of all, welcome to the bitcoin.
Are you based in the US, or from another country? Knowing where you are located would allow traxe to guide you to the right platform to purchase bitcoin. I will contact them to find out. I found localbitcoin. Do you have any recommendations on how to do this most securely and a guide on step on step process? Buying something with traditional currency is straightforward, but with Cryptocurrency would be a. Thanks Seikin. Maybe someone else here on the Pub can advise on purchasing through localbitcoin.
The USD exchange still works. Worth noting that typical exchange rate was 7. They will now also give you a call to confirm your credit card usage but the process is generally painless.
Also, as seikin mentioned, they do not use credit cards. Welcome to the pub! Thank you so much for your question. We have so much people here, as you can see, that will offer you their suggestions. Our goal here it to help! Have a brilliantly, beautiful day! After buying bitcoins from there, then you just trxde into your exodus account I assumed?
Thanks for your help again, much appreciated! Do you mean transfer to Exodus. If your aim is to get alt coins you should transfer your bitcoin to a proper exchange like Binance, Tradd, Bittrex or something similar. Is this isolated to US citizens only or is it impacting all users? Currently only using Bittrex to hold a small amount of alts. Everything else is either on a Ledger Biycoin or Exodus.
Seikin suggested that the fees on Tradw via Shapeshift is expensive compared to a koong exchange. Traade you have an idea by how much? Shapeshift does not have the function to convert to fiat currencies right? Apologies for bombarding you with so many questions! Many thanks for both your help so far!
I use all three exchanges I mentioned, i like Binance the. A Trezor can be picked up in Nong Kong for pretty much cost plus postage. At the moment exchanging too fiat is not supported on Exodus. I guess the closest we may get to bong would be when USDT becomes available on the wallet. That will give you a good idea on which coins you are looking to exchange that are now available in the wallet.
So if the coins you are looking to buy are not supported by the wallet, you can plan in advance to allocate funds into any of the larger international exchanges Bitfinex, Bittrex etc that do support. Never traded anything before … but interested in trading bitcoins, what is the easiest and safest way to bitccoin. Note: I live in HK. Hopefully one day cryptos take over and no more getting raped by banks with high fees and long bitfoin. I started trading at the beginning of uow monthsplit from the hodl pot.
Currently using Bitfinex. Pretty powerful, but verification is taking a long time. Trading fees for Bitfinex is 0.
Loving the scaled orders on Bitfinex, very handy. Gemini and Bitmex seem to be the other popular choice - I think Gemini you can actually trade immediately after the fiat transfer is made even before it clears. Has anyone heard of TideBit who are based here in HK? Any comments about. Damn shame Coinbase is not supported.
I read exodus is the wallet to apply for and keep your bitcoins in. Has anyone used the external wallets you can buy which look like USB? Would those be safer wallet option. But can suggest you try buying from BTCC. COMmy family in Hong Kong hnog been buying their bitcoins there and it appears to be reasonably priced with low fees.
The negative is you need to do bank transfers to deposit your money, which takes time and they take US dollars not HK dollars. Exodus is a good place to start, but I suggest rrade buy a hardware wallet as soon as you. I think the Trezor wallets bitclin available from some shops for reasonable prices. Luvton October 20,am 1.
Luvton Honb 20,am 4. Angela October 20,pm 7. Luvton October 20,pm 8. Luvton October 20,pm Does that make sense? Bitwhat November 2,pm Hi Everyone, Never traded anything before … but interested in trading bitcoins, what is the easiest and safest way to do. Thank you in advance for your help. Luvton November 3,pm Bitwhat I started trading at the beginning of this monthsplit from the hodl pot. Pendennis December 3,pm Hi completely new to cryptocurriences.
Read with interest and got some valuable info. Good luck!! Thanks for your quick reply. Do you use bitconnect for anything?