How to safely buy Bitcoin in (2021)
A guide to buying Bitcoin in Hong Kong securely and quickly. Review and compare the best crypto exchanges in Hong Kong to start investing in digital assets.
How to buy Bitcoin in Hong Kong
Buying Bitcoin in Hong Kong is much easier than many think. It is as simple as picking an exchange, creating an account, depositing money and clicking "buy Bitcoin".
Where to buy Bitcoin as a resident of Hong Kong
Review and compare the best cryptocurrency exchanges below to find the fastest and most secure way to make your first Bitcoin purchase in Hong Kong. Buy Bitcoin Finder gives order placement preference to exchanges located in Hong Kong, or exchanges that enable the smoothest verification for citizens of Hong Kong.
Best in class for security and data protection.
Kraken was founded in mid-2011 by long time Bitcoin advocate Jesse Powell and has grown to become one of the world's largest exchanges. Based on volume alone, they are the largest exchange in Europe and the UK.
Kraken is one of the most trusted exchanges worldwide.
Pros
- Very low fees for traders. 0.25% maker and taker fees
- Best in class for security and data protection
- Great volume for traders needing liquidity
Cons
- User interface can be confusing to newbies
The premier exchange for Bitcoin traders
Binance is arguably the world’s largest Bitcoin and cryptocurrency exchange. They offer the best platform for crypto to crypto trades if you are looking to boost your Bitcoin holdings and stack some satoshi’s.
Buy Bitcoin Finder recommends Binance as the best place to trade Bitcoin against other cryptocurrencies for the lowest fees and the deepest liquidity. Binance also offer a Bitcoin Futures trading platform with up to 125x leverage.
Pros
- The best exchange in the world to trade cryptocurrency
- Binance offers margin trading and perpetual futures
- Easy to use interface for new traders
Cons
- Fees for day traders can get expensive if you do not trade using Binance coin
Invest in Bitcoin with a Debit Card or Credit Card Instantly
Coinmama allows users from any country around the world to buy Bitcoin, Ethereum and Chainlink using their exchange. They are one of the few exchanges that allow Credit Card and Debit Card purchased for Bitcoin and crypto using Visa and Mastercard.
If you are a customer in Europe, you can also buy Bitcoin with a SEPA transfer for a lower fee. Coinmama is an extremely private and secure option to invest in Bitcoin as they will send it to your personal Bitcoin wallet, as opposed to having the Bitcoin or cryptocurrency on a managed and less secure wallet on their platform.
Pros
- Purchase crypto with a Debit Card and Credit Card
- Highest limit to invest in Bitcoin using a Credit Card
- Reliable and trustworthy exchange
Cons
- Relatively high fees when using a Debit Card or Credit Card
Peer to peer (P2P) Bitcoin exchange
Local Bitcoins is a decentralized exchange that acts as an escrow service to facilitate peer to peer buys and sells of Bitcoin by allowing users to list their own Bitcoin advertisements or trades.
Users can choose to meet and pay in person or online, making Local Bitcoins the most private way to buy Bitcoin. Local Bitcoins facilitates transactions in Australia, New Zealand, United Kingdom, United States, South Africa and virtually every other country around the world.
Pros
- The best choice for privacy
- Requires no personal information
- Instant purchases available with cash
Cons
- Users must be careful of scams
- Slightly higher Bitcoin price than exchanges
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Deep liquidity and over 100 pairs
OkCoin is one of the largest Chinese exchanges around the world that operates primarily out of the United States. OkCoin also have offices in Hong Kong, Malta, Singapore, Korea and other countries due to their rapid global expansion.
Pros
- Very deep liquidity and good Bitcoin price
- Integrations with Wechat pay
- Offers USD and CNY pairs
Cons
- Interface may be confusing for newbies
- Limited payment methods
China's largest Bitcoin exchange
Huobi is an exchange that initially originated in China, however moved their headquarters to Singapore due to regulatory clarity. On Huobi, you can fund your Bitcoin and cryptocurrency accounts with a CNY bank transfer or USD transfer.
Pros
- USD and CNY based trading
- Great liquidity and good Bitcoin prices
- Strong global reputation
Cons
- Interface confusing for first time buyers
- Limited payment methods
Industry Leading Bitcoin Futures Trading Platform
Binance has created an industry leading Futures trading platform that allows users to trade Bitcoin, Ethereum, Chainlink and more against Tether (USDT) with up to 125x leverage. You can open a Binance Bitcoin Futures account anywhere around the world in minutes and gain access to deep liquidity, fast execution and an array of different features.
Click this link for an in depth Binance Futures Review.
Binance have the lowest fees for Bitcoin Futures trading and if you sign up through this link, you will get 10% taken off your trading fees.
Pros
- Very low trading fees at 0.1%
- Deep liquidity on Bitcoin and other cryptos
- Up to 125x leverage for futures trading
Cons
- You can only trade against Tether (USDT)
Bitcoin Regulation in Hong Kong
Hong Kong has been a city bustling with Bitcoin and crypto startups ever since China made the decision to clamp down on digital currencies from a regulatory perspective. Since this decision, many exchanges that were based in China decided to move across to the autonomous territory of Hong Kong.
Towards the end of 2014, the Finance Secretary of Hong Kong, John Tsang, referred to Bitcoin as a "digital commodity generated in the cyber world" - which clarified that Bitcoin specifically should not be considered as electronic money or e-cash. However, the Hong Kong government did warn the general public about the volatility underpinning Bitcoin and advised locals that is highly speculative in nature.
The Hong Kong Securities and Future Commission have previously announced that they are developing strict guidelines to bring both Bitcoin and cryptocurrency market participants within their regulatory reach. According to these new guidelines being proposed by the Hong Kong Securities and Future Commission, any funds that have allocated over 10% of their assets to Bitcoin or another cryptocurrency will be required to be licensed and can only sell their fund or product to institutional investors.
Although the SFC have not yet explicitly stated that they are looking to regulate cryptocurrency exchanges, it is beginning to look more and more likely given their recent regulatory action. The SFC have already given out 7 formal warnings to cryptocurrency exchanges after receiving complaints from market participants who were having difficulty withdrawing funds of the exchanges.
Outside of this, the Hong Kong Securities and Futures Commission have also singled out some cryptocurrency exchanges, having raised some allegations with respect to suspected market manipulation. This makes it clear that the Hong Kong SFC is essentially looking to create regulations underpinning Bitcoin and cryptocurrency to protect investors in digital assets first and foremost. With that said, Bitcoin and cryptocurrency innovation will most likely continue to rapidly grow in Hong Kong due to the SFC's clear and mostly friendly guidelines.