Cryptocurrency Q&A
Does China allow cryptocurrency?｜. Run used bank cards issued by small rural commercial banks to buy cryptocurrencies through grey-market dealers, and capped each transaction at 50,000 yuan ($6,978) to escape scrutiny. "Bitcoin is a safe haven, like gold," says Run.Crypto trading and mining has been banned in China since 2021
Does China allow cryptocurrency?｜. Run used bank cards issued by small rural commercial banks to buy cryptocurrencies through grey-market dealers, and capped each transaction at 50,000 yuan ($6,978) to escape scrutiny. "Bitcoin is a safe haven, like gold," says Run.Crypto trading and mining has been banned in China since 2021
Stefano
Fri Jun 07 2024
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answers
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Does China permit the existence and use of cryptocurrency? Given the statement that "Crypto trading and mining has been banned in China since 2021," it seems to indicate a clear prohibition. However, there are reports of individuals like Run, who seem to circumvent these regulations by using grey-market dealers and bank cards issued by small rural commercial banks to purchase cryptocurrencies. This practice appears to be done in a way that avoids scrutiny, with each transaction capped at 50,000 yuan ($6,978). Despite this, does China still allow some form of cryptocurrency activity to take place, or is it strictly prohibited? And if it's prohibited, how effective are these measures in stopping the underground trading and mining of cryptocurrencies?
5 answers
emma_carter_doctor
Sun Jun 09 2024
The world of cryptocurrency is vast and diverse, encompassing various exchanges, wallets, and trading platforms. Each platform offers its unique set of services and features, catering to different needs and preferences. It is crucial to stay updated with the latest developments and offerings in this rapidly changing landscape.
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AzureWave
Sun Jun 09 2024
BTCC, a leading cryptocurrency exchange based in the UK, is one such platform that has garnered significant attention. It provides a comprehensive range of services, including spot trading, futures contracts, and wallet solutions. These services allow users to buy, sell, and store cryptocurrencies securely and conveniently.
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Dreamchaser
Sun Jun 09 2024
The spot trading feature on BTCC offers traders the opportunity to buy and sell cryptocurrencies at current market prices. This provides a direct and liquid market for trading, enabling users to capitalize on market movements quickly and efficiently.
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FireflySoul
Sun Jun 09 2024
Futures contracts, on the other hand, allow traders to speculate on the future price movements of cryptocurrencies. This provides an additional layer of flexibility and risk management, enabling traders to hedge their positions or take advantage of potential price swings.
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GliderPulse
Sun Jun 09 2024
Cryptocurrency and finance are intricate and dynamic fields, constantly evolving with new innovations and technologies. As a professional practitioner in this space, I am well-versed in the nuances of the industry, from understanding the underlying blockchain technology to analyzing market trends and predicting future movements.
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