Hello everyone

I am Yudong

This topic is quite sensitive, to be honest. But let's talk about it.

Current Situation Analysis: What is the status of Bitcoin trading in the country?

First, let's clarify one point: China's attitude towards Bitcoin is not 'illegal', but rather prohibits related trading activities. In other words, owning Bitcoin is not illegal, but you cannot trade or engage in related financial activities through domestic platforms.

  • Since 2017, the country has completely halted virtual currency exchanges.

  • In 2021, further crackdowns on cryptocurrency mining and trading activities.

In summary: exchanges cannot be opened, mining cannot be done, but holding and research is fine!

So the question arises: how to participate?

1. Indirect methods: overseas platforms and compliant investments

  • Overseas exchanges:
    In regions where policies allow (such as the US, Singapore, etc.), Bitcoin exchanges are legal. Users with international identities (like Hong Kong permanent residents) or legal procedures can trade through these compliant platforms, such as:

    • Coinbase, Binance (overseas version), Kraken.

  • Stocks and ETFs:
    Can't trade Bitcoin directly in the country? No problem, you can invest in assets indirectly linked to Bitcoin:

    • Bitcoin ETFs (such as ProShares Bitcoin Strategy ETF).

    • Related listed company stocks: such as MicroStrategy (holding a large amount of Bitcoin) and Marathon Digital (mining company) in the US stock market.

2. Domestic 'digital collectibles'

  • NFT:
    The country supports legal digital collectibles trading, and you can choose to participate through legitimate NFT platforms (such as Tencent Huanhe, Whale Explore). Although different from Bitcoin, these blockchain assets also have investment value.

3. Build up your knowledge reserve

In the context of tightened policies, studying Bitcoin market dynamics and blockchain technology, investing in your knowledge reserve, and preparing for possible future policy openings is an investment that will not lose.

Risk Reminder: Cautiously avoid the 'grey area'

  1. Do not operate through VPN
    Using a VPN to access overseas exchanges may cross legal red lines, bringing property and legal risks.

  2. Beware of illegal OTC trading
    Over-the-counter (OTC) trading platforms are extremely risky and may involve money laundering, fund freezing, or even legal issues.

  3. Mining or 'lying down to earn' scams
    Mining is banned in the country, but many people use the guise of 'mining' to carry out scams; be careful not to be deceived.

In simple terms, the biggest obstacle to investing in Bitcoin domestically is policy risk. This is not a field suitable for those looking to 'lie down and earn'. If you wish to participate legally, you can choose indirect investment channels, and when policies loosen in the future, you may be better prepared than others.

The charm of Bitcoin lies in its decentralization and globalization, but every investor must remember: compliance is always the bottom line of investment.
What do you think about the current situation of participating in Bitcoin domestically? Feel free to discuss in the comments!

#加密市场反弹 #合法化 #BTC☀

$BTC