1. First, bring cash to Hong Kong.
2. Then deposit the money into a bank in Hong Kong.
3. Next, exchange the money for US dollars and then transfer it to Schwab.
4. Then you can buy Bitcoin spot ETFs. Small tip: 1. When transferring money from Hong Kong to Schwab, it's best to use IBKR for currency exchange and then transfer through ACH; this is the most cost-effective. Next best is using Wise, while exchanging currency at the bank and then wiring it over is the most expensive.
2. IBKR is actually a brokerage; you can't just use it to exchange currency. You can buy some US stock index ETFs, sell them when you need to exchange currency, and the money will go into Schwab. Then you can transfer the money to IBKR and buy back the index ETFs to keep. If you have a habit of buying US stocks, that's even better. This way, the money you transfer each time can steadily appreciate.
Let me teach you how to easily withdraw your money:
1. First, withdraw from Schwab to IBKR.
2. Exchange your money for Renminbi at IBKR, then withdraw it to your HSBC bank card.
3. Take your HSBC MasterCard and withdraw cash from an HSBC ATM!
Pay attention to these little tips during daily consumption: 1. Use your card wherever possible; it's convenient and fast. 2. When shopping on Taobao, set the region to Hong Kong and pay directly in Hong Kong dollars; it's hassle-free. 3. WeChat Wallet has a Hong Kong version, and some merchants also support payment.
4. Alipay can link your Hong Kong card, making payments more convenient.
5. Wise can directly send money to your Alipay.
