How to buy bitcoin in Hong Kong to trade and earn

How to buy bitcoin in Hong Kong to trade and earn
  • Buy bitcoin in a retail store in Hong Kong
  • Popular exchanges in Hong Kong
  • New projects on bitcoin in Hong Kong

Buy bitcoin in a retail store in Hong Kong

How to buy bitcoin in Hong Kong? Bitcoin users of Hong Kong now have a unique opportunity to buy various products for the bitcoin crypto currency at a retail store called BitFX, which is open to visitors from 10.00 to 19.00 in the center.
– As explained by the representative of BitFX Gina Leslie, the unique store was created in order to give buyers the opportunity to enjoy another way of using bitcoins for the usual purchases, as well as make the cryptocurrency accessible to everyone and demonstrate the convenience of using it.
– In order to make payment in bitcoins, it is possible that the company entered into an agreement with the payment provider OKCoin and the Bitcoinnect exchange. According to Leslie, the firms sought to give the bitcoins a physical appearance, so that the cryptocurrency became closer and more attractive to new users.
– In addition to opening the store, the firms pleased the customers with a new development – the 3D Bitcoin wallet. Its singularity lies in the function that binds the stored bitcoins to the identification data. Due to this, in case of loss, the lost funds can be found and restored.
Secondly, BitFX customers can recover money from a lost wallet by presenting unique polymeric money tied to a 3D Bitcoin wallet to verify the identity of the owner.

Popular exchanges in Hong Kong

Bitfinex (Hong Kong). Trades bitcoins and lightcoins to the dollar. Possible margin trading, trading without margin, the broker’s mode (you set your interest in the auction form to use your funds for margin trading). Commission for operations – 0.15%, it decreases with increasing working capital.
Possible replenishment of the deposit in dollars through the payment system Egopay. Registering for the affiliate link receives a 10% discount on transactions during the month.

New projects on bitcoin in Hong Kong

The newest bitcoin exchanger was launched in Hong Kong after collecting $ 2 million in financial support from local investors.

Representatives of the payment:

  • Exchanger HKCex argue that all funds have been received from private investment funds, which confirms the interest in financial environment of Hong Kong for bitcoin.
  • The executive director and head of the exchanger Peng Chi announced that all residents of mainland China will be able to open accounts on HKCex. In addition, the exchanger will accept electronic money transfers from Chinese banks.

Important facts:

  • HKCex users will also be able to open deposits the PayPal service. However, for this we need to fill in an additional form of authorization.
  • The new exchanger is focused on making deals in bitcoins, but by March 1, 2014 the list of supported currencies will be expanded with lightcoins, Novakoin, namecoin and PPcoin.
  • 2 million dollars of investments will be spent on the construction of the trading infrastructure of the payment service, including marketing costs. At the same time, the creators of HKCex declare that their main goal is to create the secure bitcoin-exchanger in the virtual currency market.
  • A high level of security will be achieved through two-phase authentication, applying the AES-258 encryption method, SSL protocol and deep freezing of accounts.

“It’s no secret that at present there are several large and very popular exchangers, but they all have difficulties with exchanging the crypto currency for the official currency. However, we have taken all possible measures to get rid of the problems that cause the refusal when converting bitcoins into fi nish means of payment, “the executive director of Chi said in a press release.

Digital currency:

  • It is worth noting that HKCex enters the scene at the right time, when the Hong Kong exchangers have entered a phase of active growth. For example, the resource AsiaNexgen recently distributed on the streets vouchers in bitcoins for a total of $ sixty five thousand in connection with the celebration in next year on the Eastern calendar. Such an action can enter the history of bitcoin, as the largest sale of digital currency.
  • Also this month, a payment machine was installed that accepts bitcoins. Yes, and exchangers located on the mainland of China, came into motion in order to provide active resistance to the regulatory authorities that have established bans and restrictions on the conduct of business related to the currency bitcoin.

Hong Kong to sell bitcoins:

  • This week opens the first store selling bitcoins. The 410 sq. Ft. Premise is located in the western part of the city in the Sai Ying Pun area. The transaction processing shop will deal with the exchange Asia Bitcoin.
  • “At the moment, the main problem with cryptocurrency is the need to buy bitcoins on the website,” said Lo Nichten-Behn, head of Asia Nexgen Bitcoin. – However, now it is possible to buy virtual currency in the store, where you just need to give cash, which will be transferred by the employees of the outlet to your electronic account. We will work on the principle of a machine. The store will not exchange currency, but only sell bitcoins. “

How to buy bitcoin in Hong Kong ? All buyers of currency will have to provide personal data and their residence address in accordance with the legislation on combating money and financing of terrorist activities. But, despite this, with respect to the legality of such business there remains some uncertainty due to the lack of proper regulation of the scope of the turnover of the crypto currency.

  • In November last year, the Hong Kong authorities said that they would not develop regulations for the management of crypto-currencies. However, the South China Morning Post has published an article with information that officials of Hong Kong are considering the options for appointing an agency as the responsible body that controls the scope of the virtual currency turnover.
  • At the moment, the Hong Kong government does not recognize bitcoins as a currency and requires companies associated with the crypto currency to comply with anti-money laundering rules.

However, supporters of the virtual currency are not discouraged and continue the infrastructure of bitcoin in the country. Lo wants to occupy a niche virtual currency market, but he is not the only one. Parallel to it, three start-up companies are struggling for their place under the sun of Asia’s financial capital.
Evan Griffin, as a representative of Bitcoin Group HK, spoke about plans to import two ATMs from Portugal, which will be installed in the financial centers of the Finance Center and Computer Center. Bitcoin ATM also announced the placement of its payment terminal, which accepts bitcoins, in the Mong Kok area. But the plans of Robocoin were violated and the installation of devices in Hong Kong had to be postponed.
Last weekend, December 11, sales of bitcoin futures on the CBOE exchange in the United States started, the next weekend, sales of other bitcoin futures – CME, will start.

Investors from Hong Kong

  • Investors from Hong Kong can only trade bitcoin futures through formal intermediaries that are licensed by the SFC in Hong Kong and can provide financial services related specifically to this type of futures.
  • In addition, the SFC recalls that low liquidity and volatility are making investing highly risky.
  • It is worth noting that in Hong Kong there is a significant deficit of the crypto currency, so there are now the highest premiums. For example, the average cost of one bitcoin in the world market now amounts to $ 7,600, and on the Hong Kong stock exchange Huobi Pro for it is already more than 9,400 dollars.
  • A specialist in the financial market said that many now take advantage of arbitrage. So, by buying bitcoin on Coinbase, and selling it to the financial market of Hong Kong, you can immediately get more than $ 1,000 net profit.

Despite the fact that the demands to report all “suspicious” transactions on the Hong Kong market, they are bad at limiting the use of auxiliary applications for trading on the crypto-currency market.
How to buy bitcoin in Hong Kong is understandable using popular stock exchanges I know in Hong Kong and services that will soon be launched, for the sale of bitcoin.